Align Technology (NSDQ:ALGN) yesterday released its 2nd quarter earnings, handily beating the street on revenue and earnings per share and announcing a new agreement with SmileDirectClub.
The reported profits of $50.1 million, or 62¢ per share, on sales of $269.4 million for the 3 months ended June 30.
That amounts to a significant 60% bottom-line gain on sales growth of 28.6% compared with the same period in 2015.
Analysts on Wall Street were looking for revenues of $258.9 million and earnings per share of 52¢, both of which Align managed to handily top during the quarter.
Align Tech stock has ticked up approximately 2% in early-day trading, sitting at $87.15 as of 9:36 a.m. EDT.
“Q2 was driven by better than expected revenue due to continued strong year-over-year Invisalign volume across our customer base and record utilization, with international case volume up 38.3%, and North America up 15.3%. We also had continued strong demand for our iTero Element with record shipments this quarter resulting in revenue growth of almost 200% year-over-year,” CEO Joe Hogan said in prepared remarks.
The company released an up-to-date outlook for the 3rd quarter, expecting to see between $267.2 million and $273.5 million in revenue and earnings per share between 49¢ and 52¢.
The company also announced a supply agreement with SmileDirectClub to manufacture non-Invisalign clear aligners for the company’s doctor-directed at-home program for cosmetic teeth straightening.
The post Align Tech releases street-beating Q2, announces deal with SmileDirectClub appeared first on MassDevice.
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