Jan 30 Dental products maker Align Technology
Inc's quarterly results beat market estimates on strong
sales of its teeth aligner product, Invisalign.
Align's shares jumped 8 percent to $31.53 in extended
trading on Wednesday.
The San Jose, California-based company sold 90,500 cases of
the near-invisible aligner product in the fourth quarter, up
nearly 10 percent from the same period last year. This
translated to $132.8 million in sales during the quarter.
Overall revenue increased 10 percent to $142.8 million,
compared with market expectations of $134.7 million.
Net income was $9.6 million, or 12 cents per share, compared
with $20.4 million, or 25 cents per share, a year ago. Excluding
items, the company earned 27 cents a share.
Analysts were expecting a profit of 22 cents per share,
according to Thomson Reuters I/B/E/S.
Align now expects to sell 95,000 to 97,500 cases of
Invisalign in the first quarter of 2013. It expects to earn
between 21 cents and 23 cents per share in the period, on sales
of between $146 million to $150.5 million.
Analysts on average are expecting earnings of 26 cents per
share on revenue of $144.6 million in the quarter.
Separately, the company also announced that Chief Financial
Officer Kenneth Arola would step down in March, and will be
replaced on an interim basis by company's general counsel, Roger