AXT, Inc. (NASDAQ: AXTI) reported Q1 EPS of ($0.03), in-line with the analyst estimate of ($0.03). Revenue for the quarter came in at $20.1 million versus the consensus estimate of $19.94 million.

"As we move into 2015, our goal is to take advantage of developing market conditions in our business," said Morris Young, chief executive officer. "Gallium arsenide has stabilized and addresses a market with numerous applications and dynamic opportunities. Indium phosphide is growing and we are investing in ways to capitalize on industry demand. Additionally, we see catalysts for growth this year in several of our target markets and believe that we continue to benefit from our unique vertical integration. In total, our diversified revenue base, solid competitive positioning and lower cost structure give us renewed optimism for our direction and prospects."

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