TEMPE, Ariz. (AP) — TEMPE, Ariz. (AP) — Align Technology Inc. (ALGN) on Wednesday reported first-quarter earnings of $87.8 million.
On a per-share basis, the Tempe, Arizona-based company said it had net income of $1.14. Earnings, adjusted for one-time gains and costs, were $1.82 per share.
The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.69 per share.
The maker of the Invisalign tooth-straightening system posted revenue of $943.1 million in the period, which also topped Street forecasts. Six analysts surveyed by Zacks expected $908.3 million.
For the current quarter ending in June, Align Technology said it expects revenue in the range of $980 million to $1 billion.
Align Technology shares have increased 68% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $354.75, a drop of roughly 2% in the last 12 months.
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
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