Info
Info
News Article

AXT Q3 Results Exceed Guidance

Revenue, gross margin, profit and operating expenses showing improvement on Q2

AXT, a manufacturer of compound semiconductor substrates, has reported another quarter of improved financial results.

For Q3 2016, ended September 30, 2016, revenue  was $21.9 million, compared with $20.5 million in Q2 2016. Gross margin was 34.6 percent of revenue, compared with 29.4 percent of revenue in in Q2 2016.

Operating expenses were $4.9 million, compared with $5.1 million in Q2 2016. Operating profit was $2.7 million compared with operating profit of $0.9 million  in Q2 2016.

Net interest and other income for the third quarter of 2016 was a loss of $0.3 million, compared with $0.0 million in the second quarter of 2016.

Net profit in Q3 2016 was $2.2 million, or $0.07 per diluted share, compared with a net profit of $1.2 million or $0.03 per diluted share in Q2 2016.

Management commented: "We are pleased to again show meaningful progress in our business, achieving revenue and profits that exceeded our guidance range. In addition, our gross margin was 34.6 percent as a result of yield improvements, manufacturing efficiencies, and higher production volume. We also generated positive cash flow.  Cash, cash equivalents and investments increased by $2.4 million.  We continue to seek out interesting market opportunities where our substrates can provide value to our customers."



AngelTech Live III: Join us on 12 April 2021!

AngelTech Live III will be broadcast on 12 April 2021, 10am BST, rebroadcast on 14 April (10am CTT) and 16 April (10am PST) and will feature online versions of the market-leading physical events: CS International and PIC International PLUS a brand new Silicon Semiconductor International Track!

Thanks to the great diversity of the semiconductor industry, we are always chasing new markets and developing a range of exciting technologies.

2021 is no different. Over the last few months interest in deep-UV LEDs has rocketed, due to its capability to disinfect and sanitise areas and combat Covid-19. We shall consider a roadmap for this device, along with technologies for boosting its output.

We shall also look at microLEDs, a display with many wonderful attributes, identifying processes for handling the mass transfer of tiny emitters that hold the key to commercialisation of this technology.

We shall also discuss electrification of transportation, underpinned by wide bandgap power electronics and supported by blue lasers that are ideal for processing copper.

Additional areas we will cover include the development of GaN ICs, to improve the reach of power electronics; the great strides that have been made with gallium oxide; and a look at new materials, such as cubic GaN and AlScN.

Having attracted 1500 delegates over the last 2 online summits, the 3rd event promises to be even bigger and better – with 3 interactive sessions over 1 day and will once again prove to be a key event across the semiconductor and photonic integrated circuits calendar.

So make sure you sign up today and discover the latest cutting edge developments across the compound semiconductor and integrated photonics value chain.

REGISTER FOR FREE

VIEW SESSIONS

Info
×
Search the news archive

To close this popup you can press escape or click the close icon.
×
Logo
×
Register - Step 1

You may choose to subscribe to the Compound Semiconductor Magazine, the Compound Semiconductor Newsletter, or both. You may also request additional information if required, before submitting your application.


Please subscribe me to:

 

You chose the industry type of "Other"

Please enter the industry that you work in:
Please enter the industry that you work in:
 
X
Info
X
Info
{taasPodcastNotification}
Live Event