FREMONT, Calif. (AP) — FREMONT, Calif. (AP) — AXT Inc. (AXTI) on Thursday reported fourth-quarter earnings of $1.3 million.
The Fremont, California-based company said it had profit of 3 cents per share. Earnings, adjusted for stock option expense, were 5 cents per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 3 cents per share.
The semiconductor materials supplier posted revenue of $26.8 million in the period, falling short of Street forecasts. Four analysts surveyed by Zacks expected $29.6 million.
For the year, the company reported profit of $15.8 million, or 37 cents per share. Revenue was reported as $141.1 million.
AXT shares have risen 35% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $5.90, a drop of 26% in the last 12 months.
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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
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