Needham & Company Raises Price Target on AXT, Inc. (AXTI) Following 3Q Beat and Guidance
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AXT, Inc. Announces Third Quarter 2016 Financial Results
October 26, 2016 4:10 PM EDTFREMONT, Calif., Oct. 26, 2016 (GLOBE NEWSWIRE) -- AXT, Inc. (NasdaqGS: AXTI), a leading manufacturer of compound semiconductor substrates, today reported financial results for the third quarter, ended September 30, 2016.
Third Quarter 2016 Results
Revenue for the third quarter of 2016 was $21.9 million, compared with $20.5 million in the second quarter of 2016.
Gross margin was 34.6 percent of revenue for the third quarter of 2016, compared with 29.4 percent of revenue in the second quarter of 2016.
Operating expenses were $4.9 million in the third quarter of 2016, compared with... More
