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Align Technology Inc. (ALGN) filed Quarterly Report for the period ended 2011-09-30.
Align Technology Inc. has a market cap of $1.75 billion; its shares were traded at around $22.34 with a P/E ratio of 27.2 and P/S ratio of 4.6.
This is the annual revenues and earnings per share of ALGN over the last 10 years. For detailed 10-year financial data and charts, go to 10-Year Financials of ALGN.
Highlight of Business Operations:
North America revenue increased 24.1% for the nine months ended September 30, 2011 compared to the same period in 2010, primarily due to higher case volume, and the inclusion of scanner and CAD/CAM services revenues. Additionally for the nine months ended September 30, 2011, we had increased revenue from our Invisalign Assist product primarily due to the shipment of final batches that were previously deferred in 2010. Though case volume for Invisalign Teen increased, Invisalign Teen revenue decreased for the nine month period due to the one-time release of $14.3 million in the second quarter of 2010 of previously deferred revenue for Invisalign Teen replacement aligners. When we released the deferred revenue, we also established an estimated usage rate for Invisalign Teen replacement aligners, which reduced the deferral rate.International revenue increased 33.2% and 30.7% for the three and nine months ended September 30, 2011 compared to the same periods of 2010 primarily due to the growth in case volumes of 12.3% and 13.5%, respectively and the inclusion of scanner and CAD/CAM service revenues. Additionally, for the three and nine months ended September 30, 2011, we had favorable exchange rates of approximately $2.8 million and $5.1 million, respectively.
Our sales and marketing expense for the three months ended September 30, 2011 increased compared to the same period in 2010 primarily due to higher payroll and payroll-related costs of approximately $4.5 million resulting from additional international headcount as well as the inclusion of Cadent sales and marketing personnel. We also incurred higher marketing, advertising, and travel costs of approximately $1.5 million related to our Invisalign products.
Our sales and marketing expense for the nine months ended September 30, 2011 increased compared to the same period in 2010 primarily due to higher payroll and payroll-related costs of approximately $10.4 million resulting from additional international headcount as well as the inclusion of Cadent sales and marketing personnel. We incurred higher marketing, travel, and advertising costs of approximately $5.7 million primarily due to targeted TV advertising and the International launch of Invisalign G3. Additionally, increases in clinical education costs of approximately $3.7 million during the first three quarters of 2011 were primarily due to the Invisalign Summit in the second quarter of 2011 which, in 2010, was held in the fourth quarter.
For the nine months period ended September 30, 2010, cash flows from operations of approximately $97.0 million resulted primarily from our net profit of approximately $64.3 million adjusted for the following:
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