Align Technology Inc. shot more than 7% higher in late trading Tuesday after announcing earnings, sending one of the best-performing stock of 2017 toward yet more record highs. The maker of Invisalign orthodontics reported fourth-quarter earnings of $10.3 million, or 13 cents a share, down from $1.01 a share a year ago due to charges related to the new tax law. Without the tax charge, Align said it would have reported earnings of $1.19 a share, easily beating average analyst estimates of 96 cents a share, according to FactSet. Revenue was $421.3 million, up from $385.3 million a year ago and well higher than analysts’ average estimate of $396 million. Align’s first-quarter forecast also handily beat analyst estimates, as the company said it expects to report earnings of 94 cents to 98 cents a share on revenue of $400 million to $410 million. Analysts on average expected first-quarter earnings of 88 cents a share on revenue of $396 million, according to FactSet. Shares topped $290 in after-hours action following the report, after closing with a 2.4% decline at $270.08; Align’s record intraday high in regular trading is $287.32.
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