Stockholders' Equity

9 Months Ended

Sep. 30, 2014

Stockholders' Equity [Abstract]

Stockholders' Equity

Note 7. Stockholders’ Equity

Consolidated Statement of Changes in Equity

(in thousands)

	Preferred Stock		Common Stock		Additional Paid In Capital		Accumulated Deficit			Other Comprehensive Income/(loss)			AXT, Inc. stockholders’ equity			Noncontrolling interests			Total stockholders’ equity
Balance as of December 31, 2013	$	3,532	$	32	$	194,156	$	(67,005	)	$	8,953		$	139,668		$	5,878		$	145,546
Common stock options exercised						134								134						134
Stock-based compensation						861								861						861
Net (loss) income								(1,077	)					(1,077	)		673			(404	)
Dividends declared by joint ventures																	(83	)		(83	)
Change in unrealized (loss) gain on marketable securities											(279	)		(279	)					(279	)
Currency translation adjustment											(341	)		(341	)		(67	)		(408	)
Balance as of September 30, 2014	$	3,532	$	32	$	195,151	$	(68,082	)	$	8,333		$	138,966		$	6,401		$	145,367

There were no reclassification adjustments from accumulated other comprehensive income for the nine months ended September 30, 2014 and 2013.

Stock Repurchase Program

On February 21, 2013, our Board of Directors approved a stock repurchase program pursuant to which we may repurchase up to $6.0 million of our outstanding common stock through February 27, 2014. These purchases can be made from time to time in the open market and are funded from our existing cash balances and cash generated from operations. During 2013, we repurchased approximately 285,000 shares at an average price of $2.51 per share for a total purchase price of $716,000 under the stock repurchase program.

As of December 31, 2013, approximately $5.3 million remained available for future repurchases under this program. No shares were repurchased in 2014 under this program and the plan expired on February 27, 2014.

On October 27, 2014, our Board of Directors approved a stock repurchase program pursuant to which we may repurchase up to $5.0 million of our outstanding common stock. These purchases can be made from time to time in the open market and are funded from our existing cash balances and cash generated from operations.  See Note 16 for further details.