Align Technology: Q3 Earnings Snapshot
TEMPE, Ariz. (AP) — TEMPE, Ariz. (AP) — Align Technology Inc. (ALGN) on Wednesday reported third-quarter earnings of $116 million.
On a per-share basis, the Tempe, Arizona-based company said it had profit of $1.55. Earnings, adjusted for one-time gains and costs, came to $2.35 per share.
The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $2.31 per share.
The maker of the Invisalign tooth-straightening system posted revenue of $977.9 million in the period, which fell short of Street forecasts. Six analysts surveyed by Zacks expected $991.2 million.
For the current quarter ending in December, Align Technology said it expects revenue in the range of $995 million to $1.01 billion.
Align Technology shares have declined 24% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $208.60, a decrease of 21% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ALGN at https://www.zacks.com/ap/ALGN
