Tongmei, AXT’s subsidiary in
In the first quarter of 2023, gallium arsenide and germanium substrates exported outside of
“We are actively pursuing the necessary permits and are working to minimize any potential disruption to our customers,” said
The company also announced that it will report earnings for the second quarter of 2023 on
About
AXT is a worldwide materials science company. Tongmei, its primary subsidiary in
Safe Harbor
The foregoing paragraphs contain forward-looking statements within the meaning of the Federal securities laws, including, for example, statements regarding obtaining from the applicable authorities the necessary permits to export gallium arsenide and germanium substrate products. Additional examples of forward-looking statements include statements regarding our efforts to minimize any disruption to our customers. These forward-looking statements are based upon assumptions that are subject to uncertainties and factors relating to the company’s operations and business environment, which could cause actual results to differ materially from those expressed or implied in the forward-looking statements contained in the foregoing discussion. These uncertainties and factors include but are not limited to the administrative challenges in applying for and obtaining the necessary permits. Additional uncertainties and factors include, but are not limited to, other factors as set forth in the company’s Annual Report on Form 10-K, quarterly reports on Form 10-Q and other filings made with the Securities and Exchange Commission. Each of these factors is difficult to predict and many are beyond the company’s control. The company does not undertake any obligation to update any forward-looking statement, as a result of new information, future events or otherwise.
Contacts:
Gary L. Fischer
Chief Financial Officer
(510) 438-4700
Leslie Green
Green Communications Consulting, LLC
(650) 312-9060
Source:
2023 GlobeNewswire, Inc., source