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AXT Management Discusses Q2 2012 Results - Earnings Call Transcript

These uncertainties and risks include, but are not limited to, overall conditions in the market in which the company competes, global financial conditions and uncertainty, market acceptance and demand for the company's products and the impact of delays by our customers on the timing of sales of products. In addition to the factors that may be discussed in this call, we refer you to the company's periodic reports filed with the SEC and available online by link from our website for additional information on risk factors that could cause actual results to differ materially from our current expectations.

This conference call will be available on our website at axt.com through August 1, 2013. Also, before we begin, I want to note that shortly following the close of the market today, we issued a press release reporting financial results for the second quarter of 2012. This press release could be accessed form the Investor Relations section of AXT's website at axt.com.

I would now like to turn the call over to Raymond Low for a review of the second quarter 2012 results. Ray?

Raymond A. Low

Thank you, Leslie. Revenue for the second quarter of 2012 was $25.2 million compared with $23.5 million in the first quarter of 2012. Total gallium arsenide substrate revenue was $14.9 million in the second quarter of 2012 compared with $12.2 million in the first quarter of 2012. Indium phosphide substrate revenue was $1.3 million for the second quarter of 2012 compared with $1.5 million in the first quarter of 2012. Germanium substrate revenue was $2.5 million (sic) [$2.4 million] for the second quarter of 2012 compared with $2.6 million in the first quarter of 2012. Raw material sales were $6.5 million for the second quarter of 2012 compared with $7.2 million in the first quarter of 2012.

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