UPDATE 1-Align Tech shines on strong sales of invisible dental braces
Oct 17 (Reuters) - Dental products maker Align Technology Inc's quarterly results beat expectations for the third time in a row on strong sales of its invisible braces, sending its shares up 13 percent after the bell.
The company's Invisalign braces, which cost about $5,000 on average, have no metal brackets or wires and are easily removable unlike traditional braces.
Shipments of Invisalign braces rose about 16 percent in the third quarter. The company said it expects the sales growth to continue into the fourth quarter.
The company forecast fourth-quarter sales of $169.1 million to $173.1 million, well above the average analyst estimate of $164.3 million.
Third-quarter net income was $34.5 million, or 42 cents per share, compared with a net loss of $0.3 million, or breakeven on a per share basis, a year earlier.
For the fourth quarter, the company expects to ship between 109.7 thousand and 112.1 thousand cases of its flagship braces.
Revenue rose about 21 percent to $164.5 million.
Analysts on average expected a profit of 30 cents per share on revenue of $158.6 million, according to Thomson Reuters I/B/E/S.
Align shares were trading at $52.39 in extended trading after closing at $45.93 on Thursday on the Nasdaq.