Align Technology Announces Fourth Quarter and Fiscal 20...($65.5M $5.2M $5.7M Earnings P...),Health

Date:1/28/2009

$65.5M $5.2M $5.7M Earnings Per Diluted Share (EPS) $0.98 $0.08 $0.08 Key Non-GAAP Operating Results Q4 08 Q3 08 Q4 07 Non-GAAP Operating Expense $48.5M $48.5M $48.4M Non-GAAP Profit from Operations $5.4M $7.9M $5.0M Non-GAAP Net Profit $4.9M $7.3M $5.7M Non-GAAP Earnings Per Diluted Share (EPS) $0.07 $0.11 $0.08

Liquidity and Capital Resources

As of December 31, 2008, Align had $110.2 million in cash, cash equivalents, and short term marketable securities compared to $127.9 million as of December 31, 2007. During Q4 08, Align purchased 1.5 million shares of its common stock at an average price of $6.92 per share for a total of $10.7 million. For fiscal 2008, Align purchased a total of 4.7 million shares of its common stock at an average price of $10.73 per share for a total of $50.0 million. The Company's $50 million stock repurchase authorization has been completed.

Key Business Metrics

The following table highlights business metrics for Align's fourth quarter of 2008. Additional historical information is available on the Company's website at http://investor.aligntech.com.

    Revenue by Channel:                       Q4 08   Q4 08/Q3 08  Q4 08/Q4 07
                                                         % Change    % Change
    U.S. Orthodontists                        $21.2        (5.0%)      (1.2%)
    U.S. GP Dentists                          $33.6        (4.5%)       0.3%
    International                             $16.2         7.4%       14.4%
    Training and Other                         $3.1        20.4%       (8.6%)
    Total Revenue                             $74.1        (1.4%)       2.2%

    Average Selling Pr
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SOURCE  Align Technology
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