Align Technology (NSDQ:ALGN) shares dipped slightly today despite fourth-quarter results that topped the consensus forecast.
The Tempe, Arizona-based dental technology company posted profits of $191 million, or $2.40 per share, on sales of $1.031 billion for the three months ended Dec. 31, 2021, for a 20.1% bottom-line gain on sales growth of 23.6%. Align’s revenue total represents a record for the company.
Adjusted to exclude one-time items, earnings per share were $2.83, 10¢ ahead of Wall Street, where analysts were looking for sales of $1.03 billion.
“Overall, I’m very pleased to report fourth-quarter results and another record year for Align,” Align Technology President and CEO Joe Hogan said in a news release.
Align said that, despite potential COVID-19 headwinds, it expects 2022 revenue growth between 20% and 30%.
ALGN shares were down 1.5% at $498. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — was down 0.5%.