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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS        
Revenue $ 24,797 $ 27,120 $ 45,005 $ 51,539
Cost of revenue 16,291 16,110 29,804 30,956
Gross profit 8,506 11,010 15,201 20,583
Operating expenses:        
Selling, general and administrative 4,769 4,987 9,492 9,209
Research and development 1,399 1,500 2,745 2,920
Total operating expenses 6,168 6,487 12,237 12,129
Income from operations 2,338 4,523 2,964 8,454
Interest income, net 79 139 174 281
Equity in earnings (loss) of unconsolidated joint ventures 8 307 (1,446) (27)
Other expense, net (90) (51) (224) (266)
Income before provision for income taxes 2,335 4,918 1,468 8,442
Provision for income taxes 597 367 753 701
Net income 1,738 4,551 715 7,741
Less: Net income attributable to noncontrolling interests (287) (650) (368) (965)
Net income attributable to AXT, Inc. $ 1,451 $ 3,901 $ 347 $ 6,776
Net income attributable to AXT, Inc. per common share:        
Basic $ 0.04 $ 0.10 $ 0.01 $ 0.17
Diluted $ 0.04 $ 0.10 $ 0.01 $ 0.17
Weighted-average number of common shares outstanding:        
Basic 39,447 39,001 39,399 38,970
Diluted 40,123 40,216 40,045 40,289