FREMONT, Calif. (AP) — FREMONT, Calif. (AP) — AXT Inc. (AXTI) on Thursday reported a loss of $7 million in its second quarter.
The Fremont, California-based company said it had a loss of 16 cents per share. Losses, adjusted for stock option expense, came to 15 cents per share.
The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 13 cents per share.
The semiconductor materials supplier posted revenue of $18 million in the period.
In the final minutes of trading on Thursday, the company’s shares hit $2.08. A year ago, they were trading at $3.64.
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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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