NEW YORK (AP) -- Align Technology posted strong sales of its Invisalign tooth-straightening system in the third quarter, and the company's shares climbed in after-hours trading.
Align Technology said shipments of Invisalign grew 16 percent from last year, and revenue from the device increased 21 percent. The results were stronger than analysts expected, and the company issued a strong fourth-quarter outlook.
Shares of Align Technology Inc. are trading around all-time highs. They rose $2.21, or 5.1 percent, to $45.93 on Thursday and advanced $6.53, or 14.2 percent, to $52.46 after hours.
Align Technology said its net income totaled $34.5 million, or 42 cents per share. A year ago the San Jose, Calif., company took a loss of $344,000 and was break-even on a per-share basis. Revenue jumped 21 percent to $164.5 million, with Invisalign revenue also up 21 percent to $153.5 million.
Analysts were expecting net income of 30 cents per share and $158.7 million in revenue, according to FactSet.
For the fourth quarter, Align Technology is forecasting net income of 41 to 43 cents per share and $169.1 million to $173.1 million in revenue. Analysts had expected 36 cents per share and $164.3 million in revenue on average.
- Information Technology