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our indium phosphide substrates is also growing, reaching nearly 5 % of our total revenues in the second quarter, and we expect to see increasing contribution from germanium substrates in the second half of the year. We believe that the trends fueling growth in all of these areas will create meaningful opportunity for AXT and we are strongly positioned to benefit given our raw material access and attractive cost-structure.” AXT estimates revenue for the third quarter will increase to between $24.7 million and $25.5 million. The company estimates that net income per share will be between $0.12 and $0.14, which takes into account our weighted average share count of approximately 32.2 million shares.
Total gallium arsenide (GaAs) substrate revenue was $16.2 million for the second quarter of 2010, compared with $13.4 million in the first quarter of 2010, and $10.1 million in the second quarter of 2009. Indium phosphide (InP) substrate revenue was $1.1 million for the second quarter of 2010, compared with $875,000 in the first quarter of 2010, and $684,000 in the second quarter of 2009. Germanium (Ge) substrate revenue was $1.60 million for the second quarter of 2010 compared with $1.64 million in the first quarter of 2010 and $1.22 million in the second quarter of 2009. Raw materials sales were $4.2 million for the second quarter of 2010, compared with $2.7 million in the first quarter of 2010 and $1.0 million in the second quarter of 2009.
Gross margin was 36.8 % of revenue for Q2 2010, not much change from 36.1 % for the previous quarter. This is a significant increase in gross margin from the same quarter last year when it was 19.3 %.
Operating expenses were $3.6 million in the second quarter of 2010, compared with $3.9 million in the first quarter of 2010. Operating expenses in the second quarter of 2009 were $3.8 million.
“This is an exciting time for AXT,” said Morris Young, CEO. “The demand for gallium arsenide substrates continues to grow at a healthy pace, fueled by strong sales of wireless devices and the increasing worldwide adoption and investment into LED technology in many applications. As a result, we are enjoying solid increases in our sales of semi- insulating and semi-conducting gallium arsenide substrates and strong increases in the sales of gallium raw material. In addition, the demand for
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www.compoundsemiconductor.net August/September 2010
Anadigics Back In Business With Net Sales Up 64.2%
The firm’s revenue hit $51.7 million for Q2 2010 and are expected to increase in the next quarter with the fast-growing 3G & 4G wireless market, which will require increasing power amplifiers.
Anadigics, a global provider of semiconductor broadband wireless and wireline communications markets has announced its second quarter 2010 results.
The company enjoyed net sales of $51.7 million, a sequential increase of 18.7% and an increase of 64.2% above the second quarter of 2009. For the six months ended July 3, 2010, net sales were $95.2 million, up approximately 54% over the prior year. As of July 3, 2010, cash, cash equivalents and short and long-term marketable securities totaled $91.8 million. GAAP net income for the second quarter of 2010 was $0.8 million, or $0.01 per diluted share.
“The results of our second quarter reflect the
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