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FREMONT, Calif. (AP) — FREMONT, Calif. (AP) — AXT Inc. (AXTI) on Thursday reported a loss of $8.8 million in its first quarter.
The Fremont, California-based company said it had a loss of 20 cents per share. Losses, adjusted for stock option expense, came to 19 cents per share.
The results did not meet 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 $19.4 million in the period, which topped Street forecasts. Three analysts surveyed by Zacks expected $19.1 million.
In the final minutes of trading on Thursday, the company's shares hit $1.35. A year ago, they were trading at $2.89.
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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