Align Technology Shares Surge After Hours On Outlook

By Wallace WitkowskiMarketsMarketWatch Pulse

Align Technology Inc. shares rallied in the extended session Thursday after the maker of Invisalign braces issued a forecast above Wall Street estimates. Align shares surged 13% to $135.75 after hours. The company forecast earnings of 71 cents to 74 cents a share on revenue of $340 million to $345 million for the second quarter. Analysts surveyed by FactSet had estimated 71 cents a share on revenue of $324.2 million. For the first quarter, Align reported earnings of 85 cents a share, which included a 26-cents-a-share benefit from excess tax benefits from stock-based compensation, on revenue of $310.3 million. Analysts had estimated 67 cents a share without the benefit on revenue of $297.5 million.

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