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Align Technology Announces Third Quarter Fiscal 2008 Results
Date:10/28/2008

SANTA CLARA, Calif., Oct. 28 /PRNewswire-FirstCall/ -- Align Technology, Inc. (Nasdaq: ALGN) today reported financial results for the third quarter of fiscal 2008, ended September 30, 2008.

Total net revenues for the third quarter of fiscal 2008 (Q3 08) were $75.2 million compared to $71.5 million reported in the third quarter of 2007 (Q3 07) and compared to $79.9 million reported in the second quarter of 2008 (Q2 08).

On a generally accepted accounting principles (GAAP) basis, net profit for Q3 08 was $5.2 million, or $0.08 per diluted share. This is compared to net profit of $9.5 million, or $0.13 per diluted share in Q3 07, and net profit of $4.0 million, or $0.06 per diluted share in Q2 08. Stock-based compensation expense included in Q3 08 net profit was $4.4 million, compared to $3.4 million in Q3 07, and $4.8 million in Q2 08.

"I am pleased with our results during these challenging times," said Thomas M. Prescott, president and CEO of Align Technology. "We are committed to continuing investment in new products and our key strategic initiatives while lowering our overall cost structure, which will position the Company for renewed growth and profitability as the environment improves."

Non-GAAP net profit for Q3 08 was $7.4 million, or $0.11 per diluted share. This is compared to non-GAAP net profit of $9.5 million, or $0.13 per diluted share in Q3 07, and non-GAAP net profit of $4.0 million, or $0.06 per diluted share in Q2 08.

Non-GAAP financial measures should be considered in addition to results prepared in accordance with GAAP, but should not be considered a substitute for, or superior to, GAAP results. A detailed reconciliation between GAAP and non-GAAP information is contained in the tables fo
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SOURCE Align Technology, Inc.
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