Align Technology Inc: Key Developments
Align Technology, Inc. Issues Q1 2010 Guidance Above Analysts' Estimates
January 27, 2010 |
| Align Technology, Inc. announced that for first quarter of 2010, it expects revenues to be in a range of $85-$88 million, GAAP earnings per diluted share (EPS) to be in a range of $0.11-$0.13, Non-GAAP EPS to be in the range of $0.12-$0.14, stock based compensation expense to be approximately $4.4 million and GAAP gross profit to be in the range of $64.9-$67.6 million and Non-GAAP gross profit to be in the range of $65.7-$68.4 million. According to Reuters Estimates, analysts on an average are expecting the Company to report revenue of $81 million and EPS of $0.08 for the same period. |
Align Technology, Inc. Issues Q4 2009 Guidance Above Analysts' Estimates
October 22, 2009 |
| Align Technology, Inc. announced that for fourth quarter of 2009, it expects revenue to be in the range of $77.5-$81.0 million, GAAP earnings per diluted share (EPS) to be in a range of $0.07-$0.09 and non-GAAP EPS to be in the range of $0.08-$0.10. According to Reuters Estimates, analysts were expecting the Company to report revenue of $76.3 million and EPS of $0.06 for the same period. |
Holzer Holzer & Fistel, LLC Announces That a Class Action Lawsuit Has Been Filed on Behalf of Investors in Align Technology, Inc.
September 10, 2009 |
| Holzer Holzer & Fistel, LLC announced that a class action lawsuit has been filed in the United States District Court for the Northern District of California on behalf of purchasers of Align Technology, Inc. who purchased shares between January 30, 2007 through October 24, 2007, inclusive (the Class Period). The lawsuit alleges that Align failed to disclose that it was shifting its focus from generating new case starts to clearing backlog. The complaint alleges this shift resulted in a substantial decrease in new business which, according to the lawsuit, made the Company's Class Period statements about its financial prospects false and misleading. |
Law Offices of Howard G. Smith, Representing Investors Of Align Technology, Inc., Announces Class Action Lawsuit
August 21, 2009 |
| Law Offices of Howard G. Smith, representing investors of Align Technology, Inc. announced that it has filed a class action lawsuit in United States District Court on behalf of a class (Class) consisting of all persons or entities who purchased the common stock of Align between January 30, 2007 and October 24, 2007, inclusive (Class Period). The class action lawsuit was filed in the United States District Court for the Northern District of California. The Complaint charges the Company and its chief executive officer with violations of federal securities laws. |
Shalov Stone Bonner & Rocco LLP Announces Class Action Against Align Technology, Inc.
August 18, 2009 |
| Shalov Stone Bonner & Rocco LLP announced that a class action lawsuit has been filed on behalf of all persons or entities who purchased Align Technology, Inc. common stock between January 30, 2007 and October 24, 2007, inclusive (the Class Period). The suit is pending in the Northern District of California against Align and Thomas M. Prescott, Align's President and Chief Executive Officer. The complaint alleges that, throughout the Class Period, defendants misrepresented or failed to disclose or indicate that the Company was experiencing a considerable decrease in the number of new case starts, which resulted from Align having shifted the focus of its sales force to clearing backlog. As a result, the statements defendants made during the Class Period regarding Align's business, operations and financial prospects were materially false and misleading. The complaint also alleges that on October 24, 2007, during a conference call with analysts, certain of Align's executive officers shocked the market when they acknowledged that, among other things, in an effort to clear backlog, the Company failed to focus sufficient efforts on garnering new case starts. Consequently, the Company had to refocus its field and channel marketing teams to generate new case growth. On this news, the price of Align's shares fell more than 33%, closing at $19.07 per share, on October 25, 2007. |
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