ALGN FY 2012 Earnings Report — Align Technology, Inc. Revenue & Financial Results | Market Cap Arena

Align Technology, Inc.ALGN

FY 2012 Earnings

Reported March 1, 2013

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2012	Prior Q	FY 2011	QoQ Change	YoY Change
Revenue	$560M	—	$480M	—	16.7%
Op. Income	$86M	—	$90M	—	-5.3%
Gross Margin	74.3%	—	75.3%	—	-1.0pp
Net Margin	10.5%	—	13.9%	—	-3.4pp
EPS (Diluted)	$0.71	—	$0.83	—	-14.5%
Free Cash Flow	$95M	—	$100M	—	-4.6%

Revenue Flow

Item	Amount
REVENUE	$560M
Cost of Revenue	$144M
GROSS PROFIT	$416M
R&D Expenses	$43M
Selling & Marketing	$152M
General & Administrative	$99M
SG&A Expenses	$251M
Other Expenses	$37M
Operating Expenses	$331M
Cost & Expenses	$474M
OPERATING INCOME	$86M
Interest Income	$757.0K
Interest Expense	$2M
Other Income/Expenses	-$1M
INCOME BEFORE TAX	$84M
Income Tax Expense	$26M
Net Income from Continuing Ops	$59M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$59M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$59M
D&A	$18M
EBIT	$122M
EBITDA	$140M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$560M
Cost of Revenue	$144M
GROSS PROFIT	$416M
R&D Expenses	$43M
Selling & Marketing	$152M
General & Administrative	$99M
SG&A Expenses	$251M
Other Expenses	$37M
Operating Expenses	$331M
Cost & Expenses	$474M
OPERATING INCOME	$86M
Interest Income	$757.0K
Interest Expense	$2M
Other Income/Expenses	-$1M
INCOME BEFORE TAX	$84M
Income Tax Expense	$26M
Net Income from Continuing Ops	$59M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$59M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$59M
D&A	$18M
EBIT	$122M
EBITDA	$140M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$59M
Depreciation & Amortization	$18M
Stock-Based Compensation	$21M
Deferred Income Tax	$18M
Other Non-Cash Items	$21M
Change in Working Capital	-$3M
OPERATING CASH FLOW	$134M
Capital Expenditure	-$38M
Acquisitions (Net)	$0
Purchases of Investments	-$68M
Sales/Maturities of Investments	$25M
Other Investing Activities	$2M
NET CASH FROM INVESTING	-$78M
Net Debt Issuance	$0
Common Stock Repurchased	-$47M
Common Dividends Paid	$0
Other Financing Activities	$15M
NET CASH FROM FINANCING	$10M
FREE CASH FLOW	$95M
Net Change in Cash	$66M

Balance Sheet

Item	Amount
Cash & Equivalents	$306M
Short-Term Investments	$28M
Net Receivables	$99M
Inventory	$15M
Other Current Assets	$0
TOTAL CURRENT ASSETS	$486M
PP&E (Net)	$79M
Goodwill	$99M
Intangible Assets	$46M
Long-Term Investments	$21M
Tax Assets	$0
Other Non-Current Assets	$25M
TOTAL NON-CURRENT ASSETS	$271M
TOTAL ASSETS	$756M
Account Payables	$20M
Short-Term Debt	$0
Deferred Revenue	$62M
Other Current Liabilities	$4M
TOTAL CURRENT LIABILITIES	$156M
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$0
TOTAL LIABILITIES	$175M
Common Stock	$8.0K
Additional Paid-In Capital	$671M
Retained Earnings	-$90M
Treasury Stock	$0
Accum. Other Comp. Income	$203.0K
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$581M
Minority Interest	$0
TOTAL EQUITY	$581M
TOTAL LIABILITIES & EQUITY	$756M
Total Debt	$0
Net Debt	-$306M