Dec 5 Dental products maker Align Technology Inc
said it made organizational changes to support its
Clear Aligner and scanning and design services product lines,
including appointing new heads of the businesses and cutting
about 25 jobs.
The company, which has experienced weakening sales of both
its products and services, also said it expects fourth-quarter
results to come in at the low-end of its previously forecast
range, given continued softness in the dental market and the
effect of superstorm Sandy on its customers' practices.
Align had earlier forecast fourth-quarter adjusted earnings
of between 21 cents and 23 cents per share on revenue of between
$134.2 million and $137.8 million.
Analysts on average were expecting a profit of 23 cents per
share, before special items, on revenue of $136.1 million,
according to Thomson Reuters I/B/E/S.
Align shares were down 4 percent in extended trade after
closing at $26.14 on the Nasdaq on Wednesday.
Greg Morrow, a marketing veteran with experience at Johnson
& Johnson and Coca-Cola, will join Align as vice
president and general manager for the Clear Aligner product
line, the company said in a statement.
Align also announced on Wednesday that its heads of research
& development and North American sales have both left the
It named Christopher Puco to take over the sales job, while
CEO Thomas Prescott will handle R&D on an interim basis.