FREMONT, Calif., April 08, 2024 (GLOBE NEWSWIRE) -- AXT, Inc. (NasdaqGS: AXTI), a leading manufacturer of compound semiconductor substrates, today announced that it expects to report revenue in the range of $22.4 to $22.7 million for the first quarter ended March 31, 2024, exceeding the company's prior guidance for the first quarter of 2024 of $20 million to $22 million. This reflects growth in demand for both indium phosphide and gallium arsenide substrates for a variety of applications, including artificial intelligence/data center connectivity, infrastructure, wireless devices, industrial lasers, and others.
The company will announce its financial results for the first quarter of 2024 in a press release immediately following the close of market on May 2, 2024. It will also host a conference call to discuss these results on May 2, 2024 at 1:30 p.m. PT. The conference call can be accessed at (800) 715-9871 (passcode 4378083). The call will also be simulcast at www.axt.com. Replays will be available at (800) 770-2030 (passcode 4378083) until May 16, 2024. Additional investor information can be accessed at http://www.axt.com or by calling the company's Investor Relations Department at (510) 438-4700.
About AXT, Inc.
AXT is a material science company that develops and manufactures ...