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

n the range of $5 million to $8 million primarily associated with new products, which will be recognized in future periods, bringing the Company's total deferred revenue balance at the end of 2008 to a range of $17 million to $20 million. GAAP earnings per diluted share for fiscal 2008 is expected to be in a range of $0.22 to $0.24. Non-GAAP earnings per diluted share for fiscal 2008 is expected to be in a range of $0.31 to $0.33. Stock-based compensation expense for fiscal 2008 is expected to be approximately $17.3 million.

A more comprehensive business outlook is available following the financial tables of this release.

Restructuring Announcement

On October 23, 2008 Align, announced a restructuring plan to increase efficiencies across the organization and lower the Company's overall cost structure. The restructuring plan includes a total reduction of 110 full time headcount in Santa Clara, California. As part of these actions, Align will record a restructuring charge estimated to be approximately $5 million, of which approximately $3.5 million will be realized in Q4 08 and the remainder over the first half of 2009. This is in addition to the restructuring charge that the Company announced in July 2008. For more information, please see Align's press release titled, "Align Technology Announces Restructuring Plan."

Align Web Cast and Conference Call

Align Technology will host a conference call today, October 28, 2008 at 4:30 p.m. ET, 1:30 p.m. PT, to review its third quarter fiscal 2008 results, discuss future operating trends and business outlook. The conference call will also be web cast live via the Internet. To access the web cast, go to the "Events & Presentations" section under Company Information on Align Technology's Investor Relations web site at http://investor.aligntech.com. To access the conference call, please dial 201-689-8341 approximately fifteen minutes prior
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SOURCE Align Technology, Inc.
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