Sales grew in the first quarter for Align Technology, the Santa Clara, CA, manufacturer of Invisalign, although the company's net income dipped.
For the period (end-March 31), Align posted sales of $74.8 million, up 17 percent compared with revenues of $63.8 million in the same period the year before. The company's net income for the most recent quarter stood at $5.3 million, compared with $7 million in the same quarter of 2007. In its first-quarter 2008 results, the company said it incurred higher stock-based compensation costs of $4 million, compared to $2.5 million in the same quarter of 2007.
The company said it expects revenue for the second quarter of 2008 to be between $78.5 million and $81.5 million. The company also announced that it plans to repurchase up to $50 million of its own stock.
