Stock Monitor: Cardiovascular Systems Post Earnings Reporting
LONDON, UK / ACCESSWIRE / February 09, 2018 / Active-Investors.com has just released a free earnings report on Align Technology, Inc. (NASDAQ: ALGN). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=ALGN. The Company reported its fourth quarter fiscal 2017 and full fiscal year 2017 operating and financial results on January 30, 2018. The maker of the Invisalign tooth-straightening system outperformed top- and bottom-line estimates, and provided guidance for the upcoming quarter. Register today and get access to over 1000 Free Research Reports by joining our site below:
Active-Investors.com is currently working on the research report for Cardiovascular Systems, Inc. (NASDAQ: CSII), which also belongs to the Healthcare sector as the Company Align Technology. Do not miss out and become a member today for free to access this upcoming report at:
Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Align Technology most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
Earnings Highlights and Summary
For the quarter ended December 31, 2017, Align Technology's revenues surged 43.7% to a record $421.3 million compared to $293.3 million in Q4 2016. The Company's revenue numbers topped analysts' estimates of $395.5 million.
For the full year FY17, Align Technology's revenues advanced 36.4% to $1.47 billion on a y-o-y basis compared to $1.08 billion in FY16.
During Q4 2017, Align Technology delivered a record operating income of $109.61 million, up 60.3% compared to $68.37 million in Q4 2016.
Align Technology reported a net income of $10.3 million, or $0.13 per diluted share, for Q4 2017, which included an $86.6 million tax expense, or $1.06 per diluted share negative impact due to the new US Tax Cut and Jobs Act (TCJA), comprised of a $10.0 million non-cash write-down of the Company's deferred tax assets and a mandatory deemed repatriation tax of $76.6 million. The Company reported earnings of $47.6 million, or $0.59 per diluted share, in Q4 2016. Align Technology's earnings on an adjusted basis totaled $1.19 per share, beating Wall Street's estimates of $0.96 per share.
For FY17, Align Technology's net profit was $231.4 million, or $2.83 per diluted share, including a $1.06 per diluted share negative impact due to the TCJA. The Company had reported net earnings of $189.7 million, or $2.33 per diluted share, for FY16.
During Q4 2017, Align Technology's Invisalign case shipments surged 34.2% to 255,000 on a y-o-y basis compared to 236,100 in Q4 2016. The segment's North America and International case shipments jumped 24.2% and 52.3% on a y-o-y basis, respectively. For Q4 2017, Invisalign cases for teenage patients were 63,500; up 44.1% compared to the year ago same period. The Company's scanner and services revenues surged 37.0% to $57.1 million on a y-o-y basis in Q4 2017.
For FY17, Align Technology reported record Invisalign revenues of $1.3 billion, up 34.1% on a y-o-y basis, with Invisalign case shipments of 931,045; up 31.4% versus 708,500 in FY16. For FY17, the Company's Invisalign cases for teenage patients were 237,500; up 40.4% on a y-o-y basis.
As of December 31, 2017, Align Technology had cash, cash equivalents, and marketable securities of $761.5 million compared to $700.0 million as of December 31, 2016. During Q4 2017, the Company repurchased approximately 0.2 million shares of stock for $50.0 million under the April 2016 Repurchase Program. Align Technology had $200.0 million remaining available for repurchases under the existing stock repurchase authorization.
For the first quarter of 2018 (Q1 2018), Align Technology is forecasting net revenues to be in the range of $400 million to $410 million, up approximately 29% to 32% on a y-o-y basis. The Company is expecting Invisalign case shipments to be in the band of 264,000 to 269,000 for Q1 2018, up approximately 27% to 29% over the year ago corresponding period.
For Q1 2018, Align Technology is projecting diluted earnings per share to be in the range of $0.94 to $0.98.
Stock Performance Snapshot
February 08, 2018 - At Thursday's closing bell, Align Technology's stock declined 5.81%, ending the trading session at $220.71.
Volume traded for the day: 1.92 million shares, which was above the 3-month average volume of 1.23 million shares.
Stock performance in the previous six-month period – up 25.57%; and past twelve-month period – up 134.37%
After yesterday's close, Align Technology's market cap was at $17.57 billion.
Price to Earnings (P/E) ratio was at 77.88.
The stock is part of the Healthcare sector, categorized under the Medical Appliances & Equipment industry.
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