Stockholders' Equity

6 Months Ended

Jun. 30, 2017

Stockholders' Equity

Stockholders' Equity

Note 8. Stockholders’ Equity

Condensed Consolidated Statement of Changes in Stockholders’ Equity

(in thousands)

									Accumulated
									Other		AXT, Inc				Total
	Preferred		Common		Additional		Accumulated		Comprehensive		Stockholders’		Noncontrolling		Stockholders’
	Stock		Stock		Paid-In Capital		Deficit		Income		Equity		Interests		Equity
Balance as of December 31, 2016	$	3,532	$	33	$	194,177	$	(64,985)	$	253	$	133,010	$	4,380	$	137,390
Common stock options exercised		—		1		884		—		—		885		—		885
Stock-based compensation		—		—		622		—		—		622		—		622
Issuance of common stock, net of stock issuance costs of $2,639		—		5		31,856		—		—		31,861		—		31,861
Net income (loss)		—		—		—		2,595		—		2,595		(372)		2,223
Dividends declared by joint ventures		—		—		—		—		—		—		(465)		(465)
Other comprehensive income		—		—		—		—		1,040		1,040		157		1,197
Balance as of June 30, 2017	$	3,532	$	39	$	227,539	$	(62,390)	$	1,293	$	170,013	$	3,700	$	173,713

There were no reclassification adjustments from accumulated other comprehensive income for the three and six months ended June 30, 2017 and 2016.

Stock Repurchase Program

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 repurchases 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 2015, we repurchased approximately 908,000 shares at an average price of $2.52 per share for a total purchase price of approximately $2.3 million under the stock repurchase program.   No shares were repurchased during 2016. During the six months ended June 30, 2017, we did not repurchase any shares under the approved stock repurchase program. As of June 30, 2017, approximately $2.7 million remained available for future repurchases under this program.