ALGN FY 2011 Earnings Report — Align Technology, Inc. Revenue & Financial Results | Market Cap Arena

Align Technology, Inc.ALGN

FY 2011 Earnings

Reported February 29, 2012

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2011	Prior Q	FY 2010	QoQ Change	YoY Change
Revenue	$480M	—	$387M	—	23.9%
Op. Income	$90M	—	$103M	—	-12.0%
Gross Margin	75.3%	—	78.4%	—	-3.1pp
Net Margin	13.9%	—	19.2%	—	-5.3pp
EPS (Diluted)	$0.83	—	$0.95	—	-12.6%
Free Cash Flow	$100M	—	$111M	—	-10.3%

Revenue Flow

Item	Amount
REVENUE	$480M
Cost of Revenue	$118M
GROSS PROFIT	$361M
R&D Expenses	$37M
Selling & Marketing	$142M
General & Administrative	$92M
SG&A Expenses	$234M
Other Expenses	$0
Operating Expenses	$271M
Cost & Expenses	$389M
OPERATING INCOME	$90M
Interest Income	$552.0K
Interest Expense	$51.0K
Other Income/Expenses	-$419.0K
INCOME BEFORE TAX	$90M
Income Tax Expense	$23M
Net Income from Continuing Ops	$67M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$67M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$67M
D&A	$17M
EBIT	$90M
EBITDA	$108M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$480M
Cost of Revenue	$118M
GROSS PROFIT	$361M
R&D Expenses	$37M
Selling & Marketing	$142M
General & Administrative	$92M
SG&A Expenses	$234M
Other Expenses	$0
Operating Expenses	$271M
Cost & Expenses	$389M
OPERATING INCOME	$90M
Interest Income	$552.0K
Interest Expense	$51.0K
Other Income/Expenses	-$419.0K
INCOME BEFORE TAX	$90M
Income Tax Expense	$23M
Net Income from Continuing Ops	$67M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$67M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$67M
D&A	$17M
EBIT	$90M
EBITDA	$108M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$67M
Depreciation & Amortization	$17M
Stock-Based Compensation	$19M
Deferred Income Tax	$6M
Other Non-Cash Items	-$11M
Change in Working Capital	$33M
OPERATING CASH FLOW	$130M
Capital Expenditure	-$30M
Acquisitions (Net)	-$188M
Purchases of Investments	$95.0K
Sales/Maturities of Investments	$10M
Other Investing Activities	-$4M
NET CASH FROM INVESTING	-$212M
Net Debt Issuance	$0
Common Stock Repurchased	-$8M
Common Dividends Paid	$0
Other Financing Activities	$9M
NET CASH FROM FINANCING	$27M
FREE CASH FLOW	$100M
Net Change in Cash	-$54M

Balance Sheet

Item	Amount
Cash & Equivalents	$241M
Short-Term Investments	$7M
Net Receivables	$92M
Inventory	$9M
Other Current Assets	$4M
TOTAL CURRENT ASSETS	$385M
PP&E (Net)	$54M
Goodwill	$135M
Intangible Assets	$50M
Long-Term Investments	$0
Tax Assets	$22M
Other Non-Current Assets	$3M
TOTAL NON-CURRENT ASSETS	$264M
TOTAL ASSETS	$649M
Account Payables	$19M
Short-Term Debt	$0
Deferred Revenue	$52M
Other Current Liabilities	$24M
TOTAL CURRENT LIABILITIES	$148M
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$10M
TOTAL NON-CURRENT LIABILITIES	$10M
TOTAL LIABILITIES	$158M
Common Stock	$8.0K
Additional Paid-In Capital	$607M
Retained Earnings	-$117M
Treasury Stock	$0
Accum. Other Comp. Income	$46.0K
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$491M
Minority Interest	$0
TOTAL EQUITY	$491M
TOTAL LIABILITIES & EQUITY	$649M
Total Debt	$0
Net Debt	-$241M