Align Technology Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2015; Provides Earnings Guidance for the First Quarter of 2016
January 28, 2016 at 09:06 pm
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Align Technology Inc. reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2015. For the quarter, the company's net revenues were $230,276,000 against $198,600,000 a year ago. Operating profit was $59,339,000 against $51,493,000 a year ago. Profit before income taxes was $59,652,000 against $49,777,000 a year ago. Net profit was $48,877,000 or $0.60 diluted per share against $39,541,000 or $0.48 per share a year ago.
For the year, the company's net revenues were $845,486,000 against $761,653,000 a year ago. Operating profit was $188,634,000 against $193,576,000 a year ago. Profit before income taxes was $186,101,000 against $190,369,000 a year ago. Net profit was $144,020,000 or $1.77 diluted per share against $145,832,000 or $1.77 diluted per share a year ago.
For the first quarter of 2016, the company expects net revenues in the range of $232.5 million to $236.6 million and diluted EPS in the range of $0.37 to $0.40. Gross margin is expected to be between 73.5% to 74.1% and operating margin is expected to be 17.2% to 18.2%. Capital expenditure is expected to be in the range of $20 million to $25 million, Depreciation & Amortization is expected to be in the range of $5 million to $5.5 million and tax rate is expected to be 25.0%.
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, 2015; Provides Earnings Guidance for the First Quarter of 2016