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Align Technology
15:29 18 Oct 2012
Align Technology share price lower on weak Q4
outlook
1 Year Share Price Graph
Align Technology's (NASDAQ:ALGN) share price plunged Thursday, a day
after forecasting a weaker fourth quarter outlook, and posting lower-thanexpected third quarter preliminary earnings.
Shares tumbled 24.61 per cent falling to $26.69 each on the Nasdaq.
Share Information
The San Jose, California-based company makes scanners and computer aided
manufacturing services used in dentistry, orthodontics and dental records
storage.
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On a preliminary basis, the company expects earnings to be around $24.3
million or 29 cents per share, up from $19.3 million or 24 cents per share, a
year ago.
ALGN
NASDAQ
Manufacturing
www.aligntech.com
Company Synopsis:
Align Technology, Inc (Align) designs,
manufactures and markets a system of
clear aligner therapy, intra-oral scanners
and computer-aided design and computeraided manufacturing (CAD/CAM) digital
services used in dentistry, orthodontics, and
dental
records
storage.
 .
Adjusted earnings are slated to be in the ballpark of 28 cents per share.
Revenue, for the third quarter that ended September 30, is projected to be
$136.5 million, versus $125.9 million a year-prior.
FactSet analysts expected net income of 29 cents per share, on revenue of
$140.2 million for the quarter.
[email protected]
Align's clear aligner segment is slated to rake in $126.7 million in sales, up from
$114.3 million. Clear align shipments were 92,500.
The company's scanner and CAD/CAM unit is anticipated to earn $9.8 million in sales, down from $11.6 million a year
earlier.
Gross margin, a key metric, notched up 10 basis points to 73.5 per cent.
For the fourth quarter, the company sees revenue of around $134.2 to $137.8 million, with a per-share adjusted profit of
21 to 23 cents.
Analysts expected net income of 31 cents per share, on $147.4 million in revenue.
In a separate release, the company also announced it terminated its distribution agreements with Straumann for the
iTero scanners in Europe and North America.
The deal has been in place since 2009 between Straumann and Cadent Inc. Align had bought Cadent in April 2011.
Align decided to market iTero on limited basis directly in Europe to focus on its existing Invisalign customers, it said.
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