AXT, Inc. Announces Next-Generation Green LED Products
Source: AXT, Inc.
Higher Brightness Product Now Available in Production Quantities
.
Fremont, CA. AXT, Inc. (Nasdaq: AXTI), a leading manufacturer of compound semiconductor substrates and optoelectronic devices, today announced higher brightness green light emitting diode (LED) products, which have twice the output power of the company s earlier generation LEDs. This enhanced technology will enable AXT s high brightness green LEDs to compete favorably in the large and rapidly growing outdoor and indoor display markets. Applications for these markets include video displays, traffic signals and commercial signs.
The new 525 nm aluminum indium gallium nitride (AlInGaN) based high brightness green LED has a typical output power of 1.5 milliwatts at 20 milliamps (D-grade brightness). The expected packaged lamp power output for the device is 3.0 milliwatts.
"The green LED is among the most challenging AlInGaN-based devices to produce at such high-brightness levels," said Morris Young, president and chief executive officer. "We have quadrupled our brightness in only six months and are very pleased with the results. This technical achievement, coupled with our low-cost manufacturing model will enable us to provide more value to our customers. We will continue to invest in advancing our technology with the goal of becoming a leader in the high-brightness segment," he said.
About AXT, Inc.
AXT designs, develops, manufactures and markets high-performance compound substrates for the fiber optics and communications industries. The company s proprietary Vertical Gradient Freeze (VGF) crystal growth technology produces low-defect, semi-insulating and semi-conducting gallium arsenide, indium phosphide and germanium wafers. AXT is also a leading producer of light-emitting diodes (LEDs), such as blue, cyan and green LEDs, for the display and lighting industries and vertical cavity surface emitting lasers (VCSELs) for the fiber optics industry. For more information, see AXT s website at www.axt.com. The company can also be reached at 4281 Technology Drive, Fremont, California 94538 or by calling 510-683-5900. AXT is traded on the Nasdaq National Market under the symbol AXTI.
Safe Harbor Statement
This press release contains forward-looking statements regarding the availability, performance and market acceptance of new LED products, the company s ability to bring these products to market and the current market conditions in the optoelectronic device industry. Forward-looking statements address matters that are subject to a number of risks and uncertainties, including but not limited to: unpredictable fluctuations in our operating results due, among other factors, to our expansion of our China operations, the limited availability and increased cost of raw materials and timing of orders from customers; shortage of critical raw materials, particularly gallium and arsenic, where we depend on a limited number of suppliers; an inability to expand our manufacturing capacity to meet demand for our products; failure to achieve anticipated sales of our new HB LED and VCSEL products; our substrate and opto-electronic device products have a long sales cycle that makes it difficult to plan our expenses and forecast our results; we may experience low product yields, that might result in delayed shipment of our products; if we do not comply with environmental regulations we may incur large fines; loss of key substrate customers would hurt our operating results; if our expansion in China is costlier than expected, our operating results will suffer, and we continue to be dependent on revenue from international sales. Reference is made to AXT s filings with the Securities and Exchange Commission, including AXT s Form 10-K for the year ended December 31, 1999 and its Form 10-Qs filed for each of the subsequent quarters, and to AXT s Form S-3, for further discussion of risks and uncertainties regarding AXT s business.
Contact: Don Tatzin of AXT, Inc. Tel: 510-683-5900 or Leslie Green of Stapleton Communications Inc. Tel: 650-470-4222 for AXT, Inc. Web site: http://www.axt.com/
Don Tatzin of AXT, Inc.
Tel: 510-683-5900
or Leslie Green of Stapleton Communications Inc.
Tel: 650-470-4222 for AXT, Inc.
Web site: http://www.axt.com/
Web site: http://www.axt.com/
