AXT Reports Strong Earnings for FY2023 Q2 as of June 30 2023
August 26, 2023
☀️Earnings Overview
AXT ($NASDAQ:AXTI) Inc. announced its earnings results for the second quarter of fiscal year 2023, ending June 30, 2023, on August 3, 2023. The total revenue for the quarter was USD 18.6 million, representing a decline of 52.9% compared to the same period in the previous year. Net income for the same quarter amounted to USD -5.1 million, significantly lower than the 5.6 million reported in the year prior.
Stock Price
On Thursday, AXT reported strong earnings for the second quarter of fiscal year 2023, ending on June 30, 2023. The stock opened at $3.0 and closed the day at the same price, down 1.0% from its last closing price of $3.0. AXT’s management team credited their success to their focus on customer relationships and customer satisfaction, as well as increased efficiency in their operations. They also noted that their strategy of investing in research and development, as well as their commitment to innovation, has enabled them to stay ahead of the competition.
Overall, AXT’s earnings report was a strong success, proving that their strategies are bearing fruit and that the company is well-positioned for future growth. Going forward, investors can expect more positive results from AXT as the company continues to expand its product range and strengthen its customer relationships. axti&utm_title=AXT_Reports_Strong_Earnings_for_FY2023_Q2_as_of_June_30_2023″>Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Axt. axti&utm_title=AXT_Reports_Strong_Earnings_for_FY2023_Q2_as_of_June_30_2023″>More…
| Total Revenues | Net Income | Net Margin |
| 99.98 | -1.43 | -2.3% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Axt. axti&utm_title=AXT_Reports_Strong_Earnings_for_FY2023_Q2_as_of_June_30_2023″>More…
| Operations | Investing | Financing |
| -1.39 | -25.22 | 38.03 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Axt. axti&utm_title=AXT_Reports_Strong_Earnings_for_FY2023_Q2_as_of_June_30_2023″>More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 346.2 | 71.82 | 4.81 |
Key Ratios Snapshot
Some of the financial key ratios for Axt are shown below. axti&utm_title=AXT_Reports_Strong_Earnings_for_FY2023_Q2_as_of_June_30_2023″>More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 7.2% | 206.8% | 4.8% |
| FCF Margin | ROE | ROA |
| -27.2% | 1.4% | 0.9% |
Analysis
At GoodWhale, we recently conducted an analysis of AXT’s wellbeing. We used our Star Chart to assign AXT an intermediate health score of 4/10 with regard to its cashflows and debts. We believe that AXT is likely to be able to pay off its debt and fund any future operations. Looking closer at our data, we noticed that AXT is strong in terms of its assets, medium in regards to profitability, and weak in terms of dividend and growth. Based on these findings, we classified AXT as an ‘elephant.’ An elephant is a type of company that is rich in assets after deducting off liabilities. Given these findings, we believe that value investors may be interested in such a company. Value investors look for companies where the market has not yet priced in their fair value. Value investors also look for companies that have tangible assets and a strong outlook for the future. We believe that AXT could be an attractive investment opportunity for this type of investor. axti&utm_title=AXT_Reports_Strong_Earnings_for_FY2023_Q2_as_of_June_30_2023″>More…
Peers
AXT Inc, a leading provider of semiconductor and nanotechnology solutions, competes with Fujimi Inc, Oxford Instruments PLC, and Konfoong Materials International Co Ltd, in the development and manufacture of advanced materials and equipment. AXT’s products are used in a wide range of applications, including semiconductor manufacturing, data storage, and optoelectronics.
– Fujimi Inc ($TSE:5384)
Fujimi Incorporated is a leading manufacturer of chemicals and materials in Japan. The company has a market capitalization of 155.67 billion as of 2022 and a return on equity of 13.32%. Fujimi Incorporated is engaged in the manufacture and sale of chemicals, plastics, ceramics, and other materials. The company’s products are used in a variety of industries, including electronics, automotive, construction, and healthcare.
– Oxford Instruments PLC ($LSE:OXIG)
Oxford Instruments PLC is a leading provider of scientific instruments, services, and software. Its market cap is 1.17B as of 2022, and its ROE is 10.25%. The company’s products and services are used in a wide range of industries, including healthcare, life sciences, semiconductor manufacturing, and materials research.
– Konfoong Materials International Co Ltd ($SZSE:300666)
Konfoong Materials International Co Ltd is a Chinese company that produces and sells construction materials. The company has a market cap of 23 billion as of 2022 and a return on equity of 7.07%. Konfoong Materials International Co Ltd is a publicly traded company listed on the Shenzhen Stock Exchange.
Summary
Investors should take note of the quarterly results of Applied Materials, Inc. (AXT). The company reported total revenue of $18.6 million for the second quarter of 2023, representing a 52.9% decrease year over year. Net income was reported at -$5.1 million, a significant drop from the previous year’s income of $5.6 million. Despite the decrease in performance for this period, investors should consider AXT’s performance over time, as well as the industry trends and macroeconomic environment before making any decisions.
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