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Align Technology beaming after record shipments
Align Technology (NASDAQ:ALGN) reported another good quarter for its invisible teeth straighteners.
Revenues rose 34% to US$277mln, with shipments of its dental aligners up 20.5% to almost 180,000 as international sales soared.
Net profit of US$51.4mln was 86% higher than a year ago.
Joe Hogan, chief executive, said it had been a solid quarter with revenue, margins and EPS above the high end of guidance.
“Our results were driven by record Invisalign case volume, up 20.5% year-over-year reflecting growth across all customer channels and geographies, as well as continued demand for iTero scanners.”
For the current quarter, Align expects Clear Aligner case shipments to rise by up to 15% to 184,500
Net revenues will be in the range of $289.2mln to $293.9mln and earnings between US$0.64 and US$0.67.
Story by ProactiveInvestors
Source: http://www.proactiveinvestors.com/companies/news/168702/align-technology-beaming-after-record-shipments-168702.html
