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Stockholders' Equity
 3 Months Ended
Mar. 31, 2017
Stockholders' Equity  
Stockholders' Equity

Note 8. Stockholders’ Equity

 

Condensed Consolidated Statement of Changes in Stockholders’ Equity

(in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Accumulated

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other

 

AXT, Inc

 

 

 

Total

 

 

 

Preferred

 

Common

 

Additional

 

Accumulated

 

Comprehensive

 

Stockholders’

 

Noncontrolling

 

Stockholders’

 

 

  

Stock

  

Stock

  

Paid-In Capital

  

Deficit

  

Income

  

Equity

  

Interests

  

Equity

 

Balance as of December 31, 2016

 

$

3,532

 

$

33

 

$

194,177

 

$

(64,985)

 

$

253

 

$

133,010

 

$

4,380

 

$

137,390

 

Common stock options exercised

 

 

 —

 

 

 1

 

 

756

 

 

 —

 

 

 —

 

 

757

 

 

 —

 

 

757

 

Stock-based compensation

 

 

 —

 

 

 —

 

 

312

 

 

 —

 

 

 —

 

 

312

 

 

 —

 

 

312

 

Issuance of common stock, net of stock issuance costs of $2,246

 

 

 —

 

 

 5

 

 

31,913

 

 

 —

 

 

 —

 

 

31,918

 

 

 —

 

 

31,918

 

Net (loss) income

 

 

 —

 

 

 —

 

 

 —

 

 

665

 

 

 —

 

 

665

 

 

(240)

 

 

425

 

Dividends declared by joint ventures

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

(465)

 

 

(465)

 

Other comprehensive loss

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

297

 

 

297

 

 

55

 

 

352

 

Balance as of March 31, 2017

 

$

3,532

 

$

39

 

$

227,158

 

$

(64,320)

 

$

550

 

$

166,959

 

$

3,730

 

$

170,689

 

 

There were no reclassification adjustments from accumulated other comprehensive income for the three months ended March 31, 2017 and 2016.

 

Stock Repurchase Program

 

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 2015, we repurchased approximately 908,000 shares at an average price of $2.52 per share for a total purchase price of approximately $2.3 million under the stock repurchase program.   No shares were repurchased during 2016. During the three months ended March 31, 2017, we did not repurchase any shares under the approved stock repurchase program. As of March 31, 2017, approximately $2.7 million remained available for future repurchases under this program.