Net Income Per Share (Tables)

6 Months Ended

Jun. 30, 2017

Net Income Per Share

Reconciliation of numerators and denominators of basic and diluted net income per share

A reconciliation of the numerators and denominators of the basic and diluted net income per share calculations is as follows (in thousands, except per share data):

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2017		2016		2017		2016
Numerator:
Net income attributable to AXT, Inc	$	1,930	$	1,151	$	2,595	$	1,193
Less: Preferred stock dividends		(44)		(44)		(88)		(88)
Net income available to common stockholders	$	1,886	$	1,107	$	2,507	$	1,105
Denominator:
Denominator for basic net income per share - weighted average common shares		38,306		32,020		36,238		32,011
Effect of dilutive securities:
Common stock options		1,212		284		1,216		223
Restricted stock awards		188		147		191		120
Denominator for dilutive net income per common shares		39,706		32,451		37,645		32,354
Net income attributable to AXT, Inc. per common share:
Basic	$	0.05	$	0.03	$	0.07	$	0.03
Diluted	$	0.05	$	0.03	$	0.07	$	0.03
Options excluded from diluted net income per share as the impact is anti-dilutive		622		1,343		617		2,551
Restricted stock excluded from diluted net income per share as the impact is anti-dilutive		—		19		5		10