FREMONT, Calif. (AP) _ AXT Inc. (AXTI) on Wednesday reported first-quarter earnings of $665,000.
On a per-share basis, the Fremont, California-based company said it had profit of 2 cents.
The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 1 cent per share.
The semiconductor materials supplier posted revenue of $20.6 million in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $18.5 million.
AXT shares have risen 28 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $6.15, more than doubling in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AXTI at https://www.zacks.com/ap/AXTI
Keywords: AXT, Earnings Report