Align Technology Inc. Q1 Profit Decreases, but beats estimates

(RTTNews) - Align Technology Inc. (ALGN) reported earnings for first quarter that decreased from the same period last year but beat the Street estimates.

The company's bottom line came in at $87.8 million, or $1.14 per share. This compares with $134.3 million, or $1.70 per share, in last year's first quarter.

Excluding items, Align Technology Inc. reported adjusted earnings of $140.6 million or $1.82 per share for the period.

Analysts on average had expected the company to earn $1.68 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 3.1% to $943.1 million from $973.2 million last year.

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

-Earnings (Q1): $87.8 Mln. vs. $134.3 Mln. last year. -EPS (Q1): $1.14 vs. $1.70 last year. -Analyst Estimates: $1.68 -Revenue (Q1): $943.1 Mln vs. $973.2 Mln last year.