TEMPE, Ariz. (AP) — TEMPE, Ariz. (AP) — Align Technology Inc. (ALGN) on Wednesday reported third-quarter profit of $121.4 million.
The Tempe, Arizona-based company said it had profit of $1.58 per share. Earnings, adjusted for one-time gains and costs, were $2.14 per share.
The results missed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $2.26 per share.
The maker of the Invisalign tooth-straightening system posted revenue of $960.2 million in the period, which also missed Street forecasts. Six analysts surveyed by Zacks expected $994.6 million.
For the current quarter ending in December, Align Technology said it expects revenue in the range of $920 million to $940 million.
The company expects full-year revenue in the range of $3.83 billion to $3.85 billion.
Align Technology shares have increased 20% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $253.43, an increase of 16% in the last 12 months.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ALGN at https://www.zacks.com/ap/ALGN