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FREMONT, Calif. (AP) — FREMONT, Calif. (AP) — AXT Inc. (AXTI) on Thursday reported a loss of $2.9 million in its third quarter.
On a per-share basis, the Fremont, California-based company said it had a loss of 7 cents. Losses, 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 a loss of 6 cents per share.
The semiconductor materials supplier posted revenue of $23.6 million in the period, which fell short of Street forecasts. Three analysts surveyed by Zacks expected $26 million.
In the final minutes of trading on Thursday, the company's shares hit $2.58. A year ago, they were trading at $1.99.
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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