The San Jose, Calif.-based company reported profits of $121.3 million, or $1.53 per share, on sales of $649.8 million for the three months ended DEc. 31, 2019, for a bottom-line gain of 24.5% sales growth of 21.7% compared with Q4 2018.
Earnings per share were $1.53, 13¢ ahead of The Street, where analysts were looking for sales of $646.8 million.
“Our fourth quarter was a strong finish to a great year with record revenues and volumes. Q4’10 Invisalign shipments increased 23.9% year-over-year and marked another major milestone with our 8 millionth Invisalign patient who started treatment in December. Q4’19 iTero scanner and services revenues increased 20.2% year-over-year with strong growth especially from international doctors,” president and CEO Joe Hogan said in a news release.
“For the full year, revenues of $2.4 billion reflect record revenues and volumes for both Invisalign clear aligners and iTero scanners. During the year, over 1.5 million people started treatment with Invisalign clear aligners, including 447,000 teens and younger patients, which increased 34.1%,” Hogan said.
Investors reacted by sending shares in ALGN down -2.16% to $255.99 apiece in early morning trading.