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AXT tops Street 1Q forecasts

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