FREMONT, Calif. (AP) — FREMONT, Calif. (AP) — AXT Inc. (AXTI) on Thursday reported a loss of $3.5 million in its fourth quarter.
The Fremont, California-based company said it had a loss of 8 cents per share. Losses, adjusted for stock option expense, were 5 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 4 cents per share.
The semiconductor materials supplier posted revenue of $23 million in the period.
For the year, the company reported that its loss widened to $21.3 million, or 49 cents per share. Revenue was reported as $88.3 million.
AXT shares have risen 46% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $23.81, rising tenfold 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
/A%20Palantir%20office%20building%20in%20Tokyo_%20Image%20by%20Hiroshi-Mori-Stock%20via%20Shutterstock_.jpg)
/Nvidia%20logo%20and%20sign%20on%20headquarters%20by%20Michael%20Vi%20via%20Shutterstock.jpg)
/Micron%20Technology%20Inc_%20logo%20on%20building-by%20vzphotos%20vis%20iStock.jpg)
/Apple%20products%20arranged%20on%20desk%20by%20tashka2000%20via%20iStock.jpg)