8-K

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934

May 14, 2003

(Date of Report; Date of Earliest Event Reported)

AXT, Inc.

(Exact name of registrant as specified in its charter)

Delaware

(State or other jurisdiction of incorporation)

000-24085	94-3031310
(Commission File Number)	(IRS Employer Identification No.)
4281 Technology Drive, Fremont, California	94538
(address of principal executive offices)	(Zip Code)

(510) 683-5900

(Registrant’s telephone number, including area code)

TABLE OF CONTENTS

	Item 9. Regulation FD Disclosure.
SIGNATURES
EXHIBIT INDEX
EXHIBIT 99.1

Item 9. Regulation FD Disclosure.

     On May 14, 2003, the Company issued a press release, attached hereto as Exhibit 99.1, where it announced that it will temporarily halt production of opto-electronic devices at its U.S. facilities for two weeks in May.

SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	AXT, INC.
Date: May 15, 2003	By:	/s/ Morris S. Young
		Morris S. Young President and Chief Executive Officer

EXHIBIT INDEX

Exhibit	Description
99.1	Press Release, dated May 14, 2003.

EX-99.1 3 f90331exv99w1.txt EXHIBIT 99.1 Exhibit 99.1 Contacts: Don Tatzin Chief Financial Officer (510) 683-5900 AXT Announces Temporary Shutdown of Opto-electronics Production Facility FREMONT, Calif. - May 14, 2003 - AXT, Inc. (Nasdaq: AXTI), a leading manufacturer of opto-electronic devices and compound semiconductor substrates, today announced that it will temporarily halt production of opto-electronic devices at its U.S. facilities for two weeks in May as a cost reduction measure after which time it will determine at what pace production will be resumed. During the shutdown, the company expects to ship products to meet customer orders from current inventory. This action is being taken because, while opto-electronic sales in April were in line with expectation, opto-electronic sales in May have decreased significantly. The decrease in business is largely due to customers reporting a slow down in demand for opto-electronic products as a result of the outbreak of sudden acute respiratory syndrome (SARS). The reduction in orders resulting in the temporary plant closure is expected to affect the company's revenue and earnings during the second quarter. The impact will be partially offset by a reduction in costs as a result of the temporary shut down. AXT is closely monitoring the situation and will provide updated guidance as soon as it is able. To date, performance at the substrate business is in line with expectations for the second quarter. ABOUT AXT, INC. AXT designs, develops, manufactures and markets high-performance compound semiconductor substrates for the fiber optics and communications industries. The Company's proprietary Vertical Gradient freeze (VGF) crystal growth technology produces low-defect, semi-insulating and semi-conducting gallium arsenide, indium phosphide and germanium wafers. AXT is also a leading producer of light-emitting diodes (LEDs), such as blue, green, and cyan LEDs for the display and lighting industries and edge-emitting and vertical-cavity surface-emitting lasers (VCSELs) for the fiber optics industry. For more information, see AXT's website at http://www.axt.com. The Company can also be reached at 4281 Technology Drive, Fremont, California 94538 or by calling 510-683-5900. AXT is traded on the Nasdaq National Market under the symbol AXTI. -More- SAFE HARBOR This press release contains forward-looking statements regarding the impact of AXT's temporary shutdown of its opto-electronics production facilities and its outlook for financial performance for the second quarter of 2003, as well as the possible continued impact experienced as a result of the outbreak of SARS in China and elsewhere. Forward-looking statements address matters that are subject to a number of risks and uncertainties that can cause actual results to differ materially. Changes in the business might not match management's forecasts. Orders from our customers have been delayed as customers asses the impact that SARS might have on their business, and we cannot predict how severe or prolonged these effects might be. In addition, our employees and suppliers may be affected by SARS, and we may experience additional shut downs of our manufacturing facilities in China if incidences of SARS occur among our employees, which could impede our ability to manufacture our products. Both our substrate business as well as our opto-electronics operations remain potentially vulnerable to SARS affecting the volume and timing of customer orders, our ability to operate our production facilities, acquire key supplies, and meet customer demand in other parts of the world. For further discussion of the risks and uncertainties regarding AXT's business, reference is made to AXT's filings with the Securities and Exchange Commission, including the company's 10-K for the year ended December 31, 2002, and 10-Q for the three months ended March 31, 2003 filed with the Securities and Exchange Commission and available online by link from our website at www.axt.com, or from the SEC's website at www.sec.gov. The Company assumes no obligation to update the information in this press release. ### -----END PRIVACY-ENHANCED MESSAGE-----

EX-99.1

                                                                    Exhibit 99.1





         Contacts:

        Don Tatzin
        Chief Financial Officer
               (510) 683-5900

    AXT Announces Temporary Shutdown of Opto-electronics Production Facility


FREMONT, Calif. - May 14, 2003 - AXT, Inc. (Nasdaq: AXTI), a leading
manufacturer of opto-electronic devices and compound semiconductor substrates,
today announced that it will temporarily halt production of opto-electronic
devices at its U.S. facilities for two weeks in May as a cost reduction measure
after which time it will determine at what pace production will be resumed.
During the shutdown, the company expects to ship products to meet customer
orders from current inventory.

This action is being taken because, while opto-electronic sales in April were in
line with expectation, opto-electronic sales in May have decreased
significantly. The decrease in business is largely due to customers reporting a
slow down in demand for opto-electronic products as a result of the outbreak of
sudden acute respiratory syndrome (SARS).

The reduction in orders resulting in the temporary plant closure is expected to
affect the company's revenue and earnings during the second quarter. The impact
will be partially offset by a reduction in costs as a result of the temporary
shut down. AXT is closely monitoring the situation and will provide updated
guidance as soon as it is able.

To date, performance at the substrate business is in line with expectations for
the second quarter.



ABOUT AXT, INC.

AXT designs, develops, manufactures and markets high-performance compound
semiconductor substrates for the fiber optics and communications industries. The
Company's proprietary Vertical Gradient freeze (VGF) crystal growth technology
produces low-defect, semi-insulating and semi-conducting gallium arsenide,
indium phosphide and germanium wafers. AXT is also a leading producer of
light-emitting diodes (LEDs), such as blue, green, and cyan LEDs for the display
and lighting industries and edge-emitting and vertical-cavity surface-emitting
lasers (VCSELs) for the fiber optics industry. For more information, see AXT's
website at http://www.axt.com. The Company can also be reached at 4281
Technology Drive, Fremont, California 94538 or by calling 510-683-5900. AXT is
traded on the Nasdaq National Market under the symbol AXTI.

                                     -More-

         SAFE HARBOR

This press release contains forward-looking statements regarding the impact of
AXT's temporary shutdown of its opto-electronics production facilities and its
outlook for financial performance for the second quarter of 2003, as well as the
possible continued impact experienced as a result of the outbreak of SARS in
China and elsewhere. Forward-looking statements address matters that are subject
to a number of risks and uncertainties that can cause actual results to differ
materially. Changes in the business might not match management's forecasts.
Orders from our customers have been delayed as customers asses the impact that
SARS might have on their business, and we cannot predict how severe or prolonged
these effects might be. In addition, our employees and suppliers may be affected
by SARS, and we may experience additional shut downs of our manufacturing
facilities in China if incidences of SARS occur among our employees, which could
impede our ability to manufacture our products. Both our substrate business as
well as our opto-electronics operations remain potentially vulnerable to SARS
affecting the volume and timing of customer orders, our ability to operate our
production facilities, acquire key supplies, and meet customer demand in other
parts of the world. For further discussion of the risks and uncertainties
regarding AXT's business, reference is made to AXT's filings with the Securities
and Exchange Commission, including the company's 10-K for the year ended
December 31, 2002, and 10-Q for the three months ended March 31, 2003 filed with
the Securities and Exchange Commission and available online by link from our
website at www.axt.com, or from the SEC's website at www.sec.gov. The Company
assumes no obligation to update the information in this press release.

                                       ###