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AXT, Inc. Announces Preliminary Results for Q1 2005

FREMONT, Calif., April 7 /PRNewswire-FirstCall/ -- AXT, Inc. (Nasdaq: AXTI), a leading manufacturer of compound semiconductor substrates, today announced that it expects to report total revenue of approximately $6.6 million in the first quarter ended March 31, 2005, with gross margins between 3 percent and 5 percent, and losses per share from continuing operations between $(0.13) and $(0.15).

The company will host a conference call to announce its first quarter results on April 19, 2005 at 1:30 p.m. PDT. The conference call can be accessed at 973-935-2100 (PIN 5864358). The call will also be simulcast on the Internet at www.axt.com. Replays will be available at 973-341-3080 until April 26, 2005. 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. Management's accompanying script will be available on the company's website immediately after the call through April 19, 2006. Additional investor information can be accessed at http://www.axt.com or by calling the company's Investor Relations Department at 510-683-5900.

About AXT, Inc.

AXT is a leading producer of high-performance compound semiconductor 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. For more information, see AXT's website at http://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

The foregoing paragraphs contain forward-looking statements within the meaning of the Federal Securities laws, regarding the company's preliminary total revenue, gross margins and net loss from continuing operations for the quarter ended March 31, 2005. Forward-looking statements address matters that are subject to a number of risks and uncertainties that can cause actual results to differ materially. Such risks and uncertainties include: final completion, preparation and review of our financial results, including final review by our independent registered public accounting firm, and other factors as set forth in the company's Form 10-K and other filings made with the Securities and Exchange Commission. Results for the quarter ended March 31, 2005 are preliminary and subject to adjustment. The company does not undertake any obligation to update publicly any forward-looking statement, either as a result of new information, future events or otherwise.

SOURCE AXT, Inc.
04/07/2005
CONTACT: Wilson W. Cheung, Chief Financial Officer of AXT, Inc., +1-510-683-5900

Web site: http://www.axt.com
(AXTI)
04/07/2005 16:14 EDT http://www.prnewswire.com