Align Technology Inc. Q3 Profit Decreases, misses estimates

(RTTNews) - Align Technology Inc. (ALGN) revealed earnings for third quarter that decreased from the same period last year and missed the Street estimates.

The company's bottom line came in at $72.7 million, or $0.93 per share. This compares with $181.0 million, or $2.28 per share, in last year's third quarter.

Excluding items, Align Technology Inc. reported adjusted earnings of $106.5 million or $1.36 per share for the period.

Analysts on average had expected the company to earn $2.18 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 11.9% to $0.89 billion from $1.01 billion last year.

Align Technology Inc. earnings at a glance (GAAP) :

-Earnings (Q3): $72.7 Mln. vs. $181.0 Mln. last year. -EPS (Q3): $0.93 vs. $2.28 last year. -Analyst Estimates: $2.18 -Revenue (Q3): $0.89 Bln vs. $1.01 Bln last year.