Align Technology Jumps 16% on Q1 Results

Align Technology (NASDAQ: ALGN) released its first quarter earnings results on Monday after the closing bell. The company reported net income of $21.0 million or $0.26 per share, compared to $15.8 million or $0.20 per share, in the year ago period. On an adjusted basis, which is comparable to analysts' consensus, the company reported net income of $22.1 million or $0.27 per share, versus $16.9 million or $0.21 per share, in last year's first quarter.This compared to Wall Street analysts' consensus EPS estimates of $0.21. Revenues for the quarter were up 28.8 percent to $135.08 million compared to $104.86 million in last year's corresponding quarter. This came in well ahead of Street estimates of $128.15 million. Looking ahead to the second quarter, ALGN sees EPS between $0.26 to $0.28 on revenues between $140.2 million and $143.7 million. Currently, analysts expect ALGN to report EPS of $0.24 on revenues of $135.59 million. During Tuesday's trading session, ALGN shares have soared roughly 16.36% to $31.93.