AXT, Inc. Updates Expectations for the Fourth Quarter 2018
The company now expects fourth quarter revenue to be in the range of
“AXT saw a significant slowdown during the last two months of the quarter,” said
The company also announced that one of its partially owned supply chain companies was required to temporarily shut down during the fourth quarter to install manufacturing improvements mandated by a regional environmental agency. Under the equity method of accounting, AXT will incur a charge of
The estimated financial results for the fourth quarter of fiscal 2018 are preliminary and subject to change upon completion of the company’s year-end financial audit process. The company will announce its full financial results for the fourth quarter 2018 in a press release immediately following the close of market on February 20, 2019. The company will also host a conference call to discuss these results on February 20, 2019 at 1:30 p.m. PT. The conference call can be accessed at (844) 892-6598 (passcode 9999917). The call will also be simulcast on the Internet at www.axt.com. Replays will be available at (855) 859-2056 (passcode 9999917) until February 26, 2019. 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 http://www.axt.com 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. AXT’s worldwide headquarters are in
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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 growth prospects and opportunities for continued business expansion, our market opportunity, our relocation and our expectations with respect to our business prospects and financial results. 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: the timing and receipt of significant orders; the cancellation of orders and return of product; emerging applications using chips or devices fabricated on our substrates; end-user acceptance of products containing chips or devices fabricated on our substrates; our ability to bring new products to market; product announcements by our competitors; the ability to control costs and improve efficiency; the ability to utilize our manufacturing capacity; product yields and their impact on gross margins; the relocation of manufacturing lines; possible factory shutdowns as a result of air pollution in
Chief Financial Officer
Source: AXT, Inc.