FREMONT, Calif. (AP) 鈥� FREMONT, Calif. (AP) 鈥� AXT Inc. (AXTI) on Thursday reported a loss of $1.6 million in its first quarter.
The Fremont, California-based company said it had a loss of 3 cents per share. Losses, adjusted for stock option expense, were 1 cent per share.
The results topped 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 $26.9 million in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $26.4 million.
AXT shares have more than quadrupled since the beginning of the year. In the final minutes of trading on Thursday, shares hit $79.22, increasing fold in the last 12 months.
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