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AXT: Q4 Earnings Snapshot

FREMONT, Calif. (AP) — FREMONT, Calif. (AP) — AXT Inc. (AXTI) on Thursday reported a loss of $3.5 million in its fourth quarter.

The Fremont, California-based company said it had a loss of 8 cents per share. Losses, adjusted for stock option expense, were 5 cents per share.

The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 4 cents per share.

The semiconductor materials supplier posted revenue of $23 million in the period.

For the year, the company reported that its loss widened to $21.3 million, or 49 cents per share. Revenue was reported as $88.3 million.

AXT shares have risen 46% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $23.81, rising tenfold in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AXTI at https://www.zacks.com/ap/AXTI

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