AXT Reduces Beijing Workforce

FREMONT, Calif., March 21 -- AXT Inc. announced it has reduced the workforce at its Beijing, China, manufacturing facility by approximately 100 positions, or about 15 percent, as part of its ongoing restructuring. The company will record a restructuring charge of approximately $0.1 million in the first quarter related to the reduction. It said it anticipates payroll and related expense savings of approximately $0.3 million annually.

AXT is a producer of compound semiconductor substrates for the fiber optics and communications industries. The company's Vertical Gradient freeze crystal growth technology produces gallium arsenide, indium phosphide and germanium wafers.

For more information, visit: www.axt.com