SAN JOSE, Calif. (AP) _ Align Technology Inc. (ALGN) on Wednesday reported a second-quarter loss of $40.6 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the San Jose, California-based company said it had a loss of 52 cents. Losses, adjusted for one-time gains and costs, were 35 cents per share.
The results fell short of Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 1 cent per share.
The maker of the Invisalign tooth-straightening system posted revenue of $352.3 million in the period, which topped Street forecasts. Six analysts surveyed by Zacks expected $345.5 million.
Align Technology shares have risen 14% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $319.05, a climb of 16% in the last 12 months.