By Kimberly Chin
Align Technology Inc.'s shares rose nearly 10% after hours to $664.50 after the company posted strong third-quarter results that topped analysts' estimates.
The dental medical device company said net income was $181 million for the September quarter, up from $139.4 million in the year-earlier period. Per-share earnings were $2.28, up from $1.76 a year ago. On an adjusted basis, earnings were $2.87 a share, beating analysts' consensus projections of $2.60 a share.
The company said revenue was $1.02 billion, up 38% from a year earlier and ahead of analysts' expectations of $977.8 million.
The company expects revenue growth to be at the higher end of its projections in the second half of the year. Align projects full-year revenue around $3.9 billion to $3.95 billion, in line with analysts' estimates.
Align plans to buy back up to $100 million of shares in the fourth quarter through a combination of open market repurchases or an accelerated stock buyback program, the company said.
Write to Kimberly Chin at kimberly.chin@wsj.com
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