Dental products company Align Technology Inc. said Thursday that its net income rose in the in the second quarter as its sales improved.
The company earned $32.6 million, or 42 cents per share, up from $4.5 million, or 7 cents per share, in the same quarter last year.
Excluding an insurance settlement and other one-time items, the company earned 21 cents per share in the latest quarter.
Revenue grew to $108.2 million from $76.3 million, partly due to the release of $14.3 million of previously deferred revenue for Invisalign Teen replacement aligners.
Analysts polled by Thomson Reuters expected the company to earn 14 cents per share on revenue of $89.7 million. Analyst estimates typically exclude one-time items.
Looking forward, Align said it expects to earn 16 cents to 18 cents per share on revenue of $92 million to $95 million for the third quarter.
Shares of the company rose 34 cents to close at $14.83. They climbed another $2.07, or 14 percent, to $16.90 in after-hours trading. The stock has ranged from $9.18 to $20.56 over the past year.