Align beats The Street and rises on record 2012 sales

January 31, 2013 by MassDevice staff

Align Technology got an 8.5% boost on Wall Street today after the company released its Q4 2012 earnings report, beating analysts' estimates with record Invisalign shipments during the year.

Align Technology logo

Orthodontic devices maker Align Technology (NSDQ:ALGN) won big points on Wall Street today after releasing a strong 4th quarter earnings report, beating expectations and issuing optimistic projections for 2013.

The San Jose, Calif.-based company reported $9.6 million in profits, or 12¢ per diluted share, on sales of $142.8 million during the 3 months ended Dec. 31, 2012. That represents a 10.8% boost in revenues but a 53.3% decline in earnings compared with the same period in 2011, when the company reported $20.4 million in profit, or 25¢ per share, on $128.9 million in sales.

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Align's Q4 earnings were hard hit by a $11.9 million goodwill impairment charge, which followed a $24.7 million write-down in Q3. Excluding 1-time costs the company reported 27¢ in earnings per share, beating analysts' expectations by 5¢.

The company expects to keep the momentum going, projecting Q1 2013 sales in the range of $146-$150.5 million and EPS of 21¢-23¢ during the quarter.

Read's interview with Align Technology CEO Tom Prescott.