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Hanger Orthopedic Group, Inc. Reports an Increase of 42.3% in Earnings Per Share, to $0.37 on a 10.6% Sales Increase, for the Fourth Quarter 2009
Date:2/10/2010

BETHESDA, Md., Feb. 10 /PRNewswire-FirstCall/ -- Hanger Orthopedic Group, Inc. (NYSE: HGR) announced net sales of $205.1 million for the quarter ended December 31, 2009, an increase of $19.6 million, or 10.6%, from $185.5 million in the prior year.  Earnings per share for the fourth quarter of 2009 were $0.37 per diluted share compared to proforma earnings per diluted share of $0.26 for the same period in 2008, a 42.3% increase.

The $19.6 million, or 10.6%, sales increase for the quarter ended December 31, 2009 was primarily the result of a $10.8 million, or 6.6%, increase in same-center sales in our patient care centers, a $2.4 million, or 12.1%, increase in sales of the Company's distribution segment and a $6.4 million increase principally related to sales from acquired entities. The combination of increased sales and effective expense management caused income from operations to increase by $5.6 million, or 25.4%, to $27.5 million for the fourth quarter of 2009, compared to $21.9 million last year.

Net income increased $3.6 million, or 43.7%, to $11.9 million in the fourth quarter of 2009 compared to proforma net income of $8.3 million last year. The proforma results for the fourth quarter of 2008 exclude the impact of a non-cash mark-to-ma
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SOURCE Hanger Orthopedic Group, Inc.
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