TEMPE, Ariz. (AP) — TEMPE, Ariz. (AP) — Align Technology Inc. (ALGN) on Wednesday reported fourth-quarter earnings of $135.8 million.
The Tempe, Arizona-based company said it had profit of $1.89 per share. Earnings, adjusted for one-time gains and costs, were $3.29 per share.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $2.99 per share.
The maker of the Invisalign tooth-straightening system posted revenue of $1.05 billion in the period, which also topped Street forecasts. Five analysts surveyed by Zacks expected $1.03 billion.
For the year, the company reported profit of $410.4 million, or $5.65 per share. Revenue was reported as $4.03 billion.
For the current quarter ending in March, Align Technology said it expects revenue in the range of $1.01 billion to $1.03 billion.
Align Technology shares have climbed slightly more than 3% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $161.29, a drop of 25% 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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