Align Technology, Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2017; Provides Earnings Guidance for the First Quarter of 2018
January 30, 2018 at 09:01 pm
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Align Technology Inc. reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2017. For the quarter, the company's net revenues were $421,323,000 against $293,203,000 a year ago. Income from operations was $109,606,000 against $68,372,000 a year ago. Net income before provision for income taxes and equity in losses of investee was $112,187,000 against $60,856,000 a year ago. Net profit was $10,264,000 or $0.13 diluted per share against $47,621,000 or $0.59 per share a year ago.
For the year, the company's net revenues were $1,473,413,000 against $1,079,874,000 a year ago. Income from operations was $353,611,000 against $248,921,000 a year ago. Net income before provision for income taxes and equity in losses (gains) of investee was $364,799,000 against $242,566,000 a year ago. Net profit was $231,418,000 or $2.83 diluted per share against $189,682,000 or $2.33 diluted per share a year ago.
For the first quarter of 2018, the company expects net revenues in the range of $400.0 million to $410.0 million and diluted EPS in the range of $0.94 to $0.98. Gross margin is expected to be in between 74.3% to 75.0% and operating margin is expected to be 18.5% to 19.5%. Capital expenditure is expected to be in the range of $65 million to $70 million, depreciation & amortization is expected to be in the range of $10.5 million to $11 million and tax rate is expected to be 2.0%.
Align Technology, Inc. specializes in the design, manufacturing and marketing of dental and medical devices. Net sales break down by family of products as follows:
- clear aligners (82.8%): sold under the brand name Invisalign;
- intra-oral scanners (17.2%): iTero. The group also offers scanner services.
Net sales are distributed geographically as follows: the United States (43.1%), Switzerland (30.3%), and other (26.6%).
Align Technology, Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2017; Provides Earnings Guidance for the First Quarter of 2018