AXT Inc (AXTI, Financial) filed Quarterly Report for the period ended 2010-06-30.
Axt Inc has a market cap of $182.89 million; its shares were traded at around $5.9 with a P/E ratio of 15.95 and P/S ratio of 3.3. AXTI is in the portfolios of Chuck Royce of Royce& Associates, Jim Simons of Renaissance Technologies LLC.
As of June 30, 2010 and December 31, 2009, our accounts receivable, net, balance was $18.6 million and $15.4 million, respectively, which was net of an allowance for doubtful accounts of $0.1 million and $0.2 million, respectively. If actual uncollectible accounts differ substantially from our estimates, revisions to the estimated allowance for doubtful accounts would be required, which could have a material impact on our financial results for the period.
Revenue increased $10.1 million, or 77.5%, to $23.2 million for the three months ended June 30, 2010 from $13.1 million for the three months ended June 30, 2009. Total GaAs substrate revenue increased $6.1 million, or 60.6%, to $16.2 million for the three months ended June 30, 2010 from $10.1 million for the three months ended June 30, 2009. The increase in revenue was primarily due to the improved demand environment positively affecting sales of all diameters.
Ge substrate revenue increased $0.4 million, or 31.6%, to $1.6 million for the three months ended June 30, 2010 from $1.2 million for the three months ended June 30, 2009. Our Ge substrate revenue increased as demand from our customers increases for concentrated photovoltaic solar applications. We continue to make progress in our penetration of the solar cell market, particularly in satellite applications.
Revenue increased $21.1 million, or 101.9%, to $41.8 million for the six months ended June 30, 2009 from $20.7 million for the six months ended June 30, 2009. Total GaAs substrate revenue increased $14.5 million, or 96.2%, to $29.7 million for the six months ended June 30, 2010 from $15.1 million for the six months ended June 30, 2009. The increase in revenue was primarily due to the improved demand environment positively affecting sales of all diameters.
Ge substrate revenue increased $1.4 million, or 76.3%, to $3.2 million for the six months ended June 30, 2010 from $1.8 million for the six months ended June 30, 2009. Our Ge substrate revenue increased as demand from our customers increase for concentrated photovoltaic solar applications. We continue to make progress in our penetration of the solar cell market, particularly in satellite applications.
Read the The complete Report
Axt Inc has a market cap of $182.89 million; its shares were traded at around $5.9 with a P/E ratio of 15.95 and P/S ratio of 3.3. AXTI is in the portfolios of Chuck Royce of Royce& Associates, Jim Simons of Renaissance Technologies LLC.
Highlight of Business Operations:
As of June 30, 2010, our principal sources of liquidity were $38.9 million in cash and cash equivalents and short and long-term investments. This increased by $3.5 million compared to cash and cash equivalents and short-term investments of $35.4 million at December 31, 2009.As of June 30, 2010 and December 31, 2009, our accounts receivable, net, balance was $18.6 million and $15.4 million, respectively, which was net of an allowance for doubtful accounts of $0.1 million and $0.2 million, respectively. If actual uncollectible accounts differ substantially from our estimates, revisions to the estimated allowance for doubtful accounts would be required, which could have a material impact on our financial results for the period.
Revenue increased $10.1 million, or 77.5%, to $23.2 million for the three months ended June 30, 2010 from $13.1 million for the three months ended June 30, 2009. Total GaAs substrate revenue increased $6.1 million, or 60.6%, to $16.2 million for the three months ended June 30, 2010 from $10.1 million for the three months ended June 30, 2009. The increase in revenue was primarily due to the improved demand environment positively affecting sales of all diameters.
Ge substrate revenue increased $0.4 million, or 31.6%, to $1.6 million for the three months ended June 30, 2010 from $1.2 million for the three months ended June 30, 2009. Our Ge substrate revenue increased as demand from our customers increases for concentrated photovoltaic solar applications. We continue to make progress in our penetration of the solar cell market, particularly in satellite applications.
Revenue increased $21.1 million, or 101.9%, to $41.8 million for the six months ended June 30, 2009 from $20.7 million for the six months ended June 30, 2009. Total GaAs substrate revenue increased $14.5 million, or 96.2%, to $29.7 million for the six months ended June 30, 2010 from $15.1 million for the six months ended June 30, 2009. The increase in revenue was primarily due to the improved demand environment positively affecting sales of all diameters.
Ge substrate revenue increased $1.4 million, or 76.3%, to $3.2 million for the six months ended June 30, 2010 from $1.8 million for the six months ended June 30, 2009. Our Ge substrate revenue increased as demand from our customers increase for concentrated photovoltaic solar applications. We continue to make progress in our penetration of the solar cell market, particularly in satellite applications.
Read the The complete Report
