- AXT slides (NASDAQ:AXTI -12.8%) as the company reduces Q4 sales outlook to $22M-$22.4M, from previous guidance of $26.5M-$27.5M
- The company says that it witnessed significant slowdown during the last two months of the quarter, as well as business climate grew increasingly cautious, hence, revenue for all product lines came in lower than expected.
- The company also announced temporary shut down of partially owned supply chain companies to install manufacturing improvements mandated by a regional environmental agency; operations were resumed later in Q4.
- Fiscal 2018 financial results will be announced on February 20, 2019.
- Press Release