TEMPE, Ariz. (AP) — TEMPE, Ariz. (AP) — Align Technology Inc. (ALGN) on Wednesday reported first-quarter earnings of $105 million.
On a per-share basis, the Tempe, Arizona-based company said it had net income of $1.39. Earnings, adjusted for stock option expense and pretax expenses, were $2.14 per share.
The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.98 per share.
The maker of the Invisalign tooth-straightening system posted revenue of $997.4 million in the period, also topping Street forecasts. Five analysts surveyed by Zacks expected $972 million.
For the current quarter ending in June, Align Technology said it expects revenue in the range of $1.03 billion to $1.05 billion.
Align Technology shares have risen 15% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $315.09, a decline of 13% 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
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