UPDATE: Align Tech Posts Upbeat Q4 Profit
Align Technology (NASDAQ: ALGN) reported a 53% drop in its fourth-quarter profit.
For the current quarter, the company projects adjusted earnings of $0.21 to $0.23 per share on revenue of $146 million to $150.5 million. However, analysts expected a profit of $0.26 per share on revenue of $145 million.
Align's quarterly profit fell to $9.6 million, or $0.12 per share, from $20.4 million, or $0.25 per share, in the year-ago period. Excluding special items, it earned $0.27 per share.
Its revenue climbed 11%, to $142.8 million. However, analysts were expecting earnings of $0.22 per share on revenue of $134.74 million.
Its gross margin rose to 74.5% from 74.1%.
Align shares jumped 10.32% to $32.29 in after-hours trading.
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