AXT, Inc. Announces Fourth Quarter 2015 Financial Results
(firmenpresse) - FREMONT, CA -- (Marketwired) -- 02/24/16 -- AXT, Inc. (NASDAQ: AXTI), a leading manufacturer of compound semiconductor substrates, today reported financial results for the fourth quarter ended December 31, 2015.
Revenue for the fourth quarter of 2015 was $18.1 million compared with $18.4 million in the third quarter of 2015.
Gross margin was 17.1 percent of revenue for the fourth quarter of 2015, compared with 25.1 percent of revenue in the third quarter of 2015.
Operating expenses were $4.8 million in the fourth quarter of 2015, compared with $5.3 million in the third quarter of 2015.
Operating loss for the fourth quarter of 2015 was $1.7 million compared with $0.7 million in the third quarter of 2015.
Net interest and other income for the fourth quarter of 2015 was $0.1 million, compared with $0.8 million in the third quarter of 2015.
Net loss in the fourth quarter of 2015 was $1.2 million compared with a net profit of $42,000 the third quarter of 2015.
"2015 was a year of transformation for AXT as we continued to realign our business with the trends that are driving growth in compound semiconductor substrates," said Morris Young, chief executive officer. "We focused on strategic investments in our technology and manufacturing capabilities that would improve our competitive positioning, and enable us to drive better consistency and efficiency across our substrate portfolio. We are pleased with these investments, and in the early results of our efforts. Although raw material pricing is providing a near-term headwind, we expect to continue to see a positive shift in our revenue mix in 2016 driven by InP, providing the potential for both revenue and margin expansion."
The company will host a conference call to discuss these results today at 1:30 p.m. PT. The conference call can be accessed at (719) 325-2323 (passcode 5401451). The call will also be simulcast on the Internet at . Replays will be available at (719) 457-0820 (passcode 5401451) until March 1, 2016. Financial and statistical information to be discussed in the call will be available on the company''s website immediately prior to commencement of the call. Additional investor information can be accessed at or by calling the company''s Investor Relations Department at (510) 438-4700.
AXT designs, develops, manufactures and distributes high-performance compound and single element semiconductor substrates comprising indium phosphide (InP), gallium arsenide (GaAs) and germanium (Ge) through its manufacturing facilities in Beijing, China. In addition, AXT maintains its sales, administration and customer service functions at its headquarters in Fremont, California. The company''s substrate products are used primarily in lighting display applications, wireless communications, fiber optic communications and solar cell applications. Its vertical gradient freeze (VGF) technique for manufacturing semiconductor substrates provides significant benefits over other methods and enabled AXT to become a leading manufacturer of such substrates. AXT has manufacturing facilities in China and invests in joint ventures in China producing raw materials. For more information, see AXT''s website at .
The foregoing paragraphs contain forward-looking statements within the meaning of the Federal securities laws, including, for example, statements regarding the market demand for our products, our market opportunity, and our expectations with respect to our business prospects. These forward-looking statements are based upon assumptions that are subject to uncertainties and factors relating to the company''s operations and business environment, which could cause actual results to differ materially from those expressed or implied in the forward-looking statements contained in the foregoing discussion. These uncertainties and factors include but are not limited to: overall conditions in the markets in which the company competes; global financial conditions and uncertainties; policies and regulations in China; market acceptance and demand for the company''s products; the impact of factory closures or other events causing delays by our customers on the timing of sales of our products; our ability to control costs, our ability to utilize our manufacturing capacity; product yields and their impact on gross margins; and other factors as set forth in the company''s annual report on Form 10-K, quarterly reports on Form 10-Q and other filings made with the Securities and Exchange Commission. Each of these factors is difficult to predict and many are beyond the company''s control. The company does not undertake any obligation to update any forward-looking statement, as a result of new information, future events or otherwise.
Contacts:
Gary Fischer
Chief Financial Officer
(510) 438-4700
Leslie Green
Green Communications Consulting, LLC
(650) 312-9060
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Datum: 24.02.2016 - 15:10 Uhr
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