XML 52 R14.htm IDEA: XBRL DOCUMENT v3.2.0.727
Stockholders' Equity
 6 Months Ended
Jun. 30, 2015
Stockholders' Equity [Abstract]  
Stockholders' Equity
Note 7. Stockholders’ Equity

Consolidated Statement of Changes in Equity
(in thousands)
 
  
Preferred
Stock
  
Common
Stock
  
Additional
Paid In Capital
  
Accumulated
Deficit
  
Other
Comprehensive
Income/(loss)
  
AXT, Inc.
stockholders’
equity
  
Noncontrolling
interests
  
Total
stockholders’
equity
 
Balance as of December 31, 2014
 
$
3,532
  
$
32
  
$
195,419
  
$
(68,393
)
 
$
7,673
  
$
138,263
  
$
6,425
  
$
144,688
 
Common stock options exercised
          
76
           
76
       
76
 
Common stock repurchased
          
(1,521
)
          
(1,521
)
      
(1,521
)
Stock-based compensation
          
740
           
740
       
740
 
Net (loss) income
              
(1,027
)
      
(1,027
)
  
252
   
(775
)
Dividends declared by joint ventures
                          
(83
)
  
(83
)
Change in unrealized (loss) gain on marketable securities
                  
(350
)
  
(350
)
      
(350
)
Currency translation adjustment
                  
263
   
263
   
42
   
305
 
Balance as of June 30, 2015
 
$
3,532
  
$
32
  
$
194,714
  
$
(69,420
)
 
$
7,586
  
$
136,444
  
$
6,636
  
$
143,080
 
 
There were no reclassification adjustments from accumulated other comprehensive income for the six months ended June 30, 2015 and 2014.

Stock Repurchase Program

On February 21, 2013, our Board of Directors approved a stock repurchase program pursuant to which we may repurchase up to $6.0 million of our outstanding common stock through February 27, 2014. These purchases can be made from time to time in the open market and are funded from our existing cash balances and cash generated from operations. During 2013, we repurchased approximately 285,000 shares at an average price of $2.51 per share for a total purchase price of $716,000 under the stock repurchase program. As of December 31, 2013, approximately $5.3 million remained available for future repurchases under this program. No shares were repurchased in 2014 under this program and the plan expired on February 27, 2014.

On October 27, 2014, our Board of Directors approved a stock repurchase program pursuant to which we may repurchase up to $5.0 million of our outstanding common stock.  These repurchases can be made from time to time in the open market and are funded from our existing cash balances and cash generated from operations. During the three months ended June 30, 2015, we repurchased approximately 353,000 shares at an average price of $2.56 per share for a total purchase price of $904,000 under the stock repurchase program. During the six months ended June 30, 2015, we repurchased approximately 583,000 shares at an average price of $2.61 per share for a total purchase price of $1.5 million under the stock repurchase program. As of June 30, 2015, approximately $3.5 million remained available for future repurchases under this program. See Item 2, Unregistered Sales of Equity Securities and Use of Proceeds in Part II, Other Information, for additional information.