TEMPE, Ariz. (AP) — TEMPE, Ariz. (AP) — Align Technology Inc. (ALGN) on Wednesday reported third-quarter net income of $56.8 million.
The Tempe, Arizona-based company said it had profit of 78 cents per share. Earnings, adjusted for stock option expense and asset impairment costs, were $2.61 per share.
The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $2.37 per share.
The maker of the Invisalign tooth-straightening system posted revenue of $995.7 million in the period, also surpassing Street forecasts. Five analysts surveyed by Zacks expected $971.5 million.
For the current quarter ending in December, Align Technology said it expects revenue in the range of $1.02 billion to $1.05 billion.
Align Technology shares have decreased 37% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $131.93, a fall of 38% 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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