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CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)        
Revenue $ 28,168 $ 21,872 $ 72,341 $ 61,080
Cost of revenue 17,035 14,294 47,664 42,222
Gross profit 11,133 7,578 24,677 18,858
Operating expenses:        
Selling, general and administrative 4,484 3,313 12,219 10,106
Research and development 1,410 1,566 3,553 4,419
Restructuring charge       226
Total operating expenses 5,894 4,879 15,772 14,751
Income from operations 5,239 2,699 8,905 4,107
Interest income, net 122 105 334 303
Equity in loss of unconsolidated joint ventures (266) (581) (1,387) (1,437)
Other (expense) income, net (349) 164 (403) 682
Income before provision for income taxes 4,746 2,387 7,449 3,655
Provision for income taxes 181 176 661 713
Net income 4,565 2,211 6,788 2,942
Less: Net loss attributable to noncontrolling interests (146) 18 226 480
Net income attributable to AXT, Inc. $ 4,419 $ 2,229 $ 7,014 $ 3,422
Net income attributable to AXT, Inc. per common share:        
Basic (in dollars per share) $ 0.11 $ 0.07 $ 0.19 $ 0.10
Diluted (in dollars per share) $ 0.11 $ 0.07 $ 0.18 $ 0.10
Denominator:        
Basic (in shares) 38,499 32,110 36,999 32,043
Diluted (in shares) 40,095 33,138 38,469 32,615