Align Technology: Q4 Earnings Snapshot

TEMPE, Ariz. (AP) — TEMPE, Ariz. (AP) — Align Technology Inc. (ALGN) on Wednesday reported fourth-quarter earnings of $124 million.

On a per-share basis, the Tempe, Arizona-based company said it had profit of $1.64. Earnings, adjusted for stock option expense and restructuring costs, were $2.42 per share.

The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $2.18 per share.

The maker of the Invisalign tooth-straightening system posted revenue of $956.7 million in the period, also surpassing Street forecasts. Five analysts surveyed by Zacks expected $928.6 million.

For the year, the company reported profit of $445.1 million, or $5.81 per share. Revenue was reported as $3.86 billion.

For the current quarter ending in March, Align Technology said it expects revenue in the range of $960 million to $980 million.

Align Technology shares have fallen slightly more than 2% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $267.32, a decrease of roughly 1% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ALGN at https://www.zacks.com/ap/ALGN