The San Jose, Calif.-based company posted profits of $102.5 million, or $1.28 per share, on sales of $607.3 million for the three months ended Sept. 30, for a 1.6% bottom-line gain on sales growth of 20.2%.
Adjusted to exclude one-time items, earnings per share were $1.28, 14¢ ahead of Wall Street, where analysts were looking for sales of $593.97 million.
“I’m pleased to report revenues, volume, and earnings above our third quarter outlook driven by better than expected volume across the Invisalign portfolio in Asia Pacific and Latin America, reflecting record highs for both regions and improving trends in the North American orthodontic channel,” CEO Joe Hogan said in prepared remarks. “Notwithstanding EMEA summer seasonality, we saw continued adoption from teens and especially younger patients using Invisalign First across the board. Q3 Invisalign volumes were up 20.7% year-over-year driven by growth across the product portfolio, as well as expansion of our customer base, which increased by 6,000 new Invisalign doctors for a total of 63,000 active doctors worldwide. The iTero scanner and services business was up 16.5% year over year reflecting continue growth across each region, and down sequentially as expected coming off a record second quarter.”
Align said it now expects to log adjusted fourth-quarter EPS of $1.35 to $1.42, but stood fast on its prior sales guidance for between $640 million and $650 million.
ALGN shares were up 13.4% at $246.54 per share in midday trading today.