Navigation Links
Hanger Orthopedic Group Announces Preliminary Third Quarter Revenue and Earnings
Date:10/18/2010

AUSTIN, Texas, Oct. 18 /PRNewswire-FirstCall/ -- Hanger Orthopedic Group, Inc. (NYSE: HGR) announced preliminary net sales of $206.7 million for the quarter ended September 30, 2010, an increase of $14.4 million, or 7.5%, from $192.3 million in the prior year. Preliminary adjusted diluted earnings per share, which excludes the cost of relocating the Company's corporate headquarters and cost incurred in connection with the pending acquisition of Accelerated Care Plus Corp. announced earlier today, were $0.37 per diluted share for the third quarter of 2010, a 23.3 % increase compared to $0.30 per diluted share in the same period in 2009.  Preliminary reported diluted earnings per share were $0.21 for the third quarter of 2010.

The Company plans to issue a press release announcing the complete results for the quarter ended September 30, 2010, on Wednesday, October 27, 2010 after the close of the market. A conference call to discuss these results is scheduled to begin at 9:00 a.m., EDT, on Thursday, October 28, 2010. Those wishing to participate should call 1-800-931-9710. In addition, a replay will be available until Friday, November 5, 2010 by dialing 1-800-642-1687 and referencing Conf. ID # 13476575.

Hanger Orthopedic Group, Inc., headquartered in Austin, Texas, is the world's premier provider of orthotic and prosthetic patient care services. Hanger is the market leader in the United States, owning and operating in excess of 675 patient care centers in 45 states and the District of Columbia, with over 3,800 employees, including over 1,100 practitioners, as of September 30, 2010.  Hanger is organized into four units. The two key operating units are patient care, which consists of nationwide orthotic and prosthetic practice centers, and distribution, which consists of distribution centers managing the supply chain of orthotic and prosthetic componentry to Hanger and third party patient care centers. The third is Linkia, which is the first and only provider network management company for the orthotics and prosthetics industry. The fourth unit, Innovative Neurotronics, introduces emerging neuromuscular technologies developed through independent research in a collaborative effort with industry suppliers worldwide. For more information on Innovative Neurotronics, Inc. or the WalkAide®, visit http://www.ininc.us. For more information on Hanger, visit http://www.hanger.com.  

This document contains forward-looking statements relating to the Company's results of operations.  The United States Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for certain forward-looking statements.  Statements relating to future results of operations in this document reflect the current views of management.  However, various risks, uncertainties and contingencies could cause actual results or performance to differ materially from those expressed in, or implied by, these statements, including the Company's ability to enter into and derive benefits from managed care contracts, the demand for the Company's orthotic and prosthetic services and products and the other factors identified in the Company's periodic reports on Form 10-K and Form 10-Q filed with the Securities and Exchange Commission under the Securities Exchange Act of 1934.  The Company disclaims any intent or obligation to update publicly these forward-looking statements, whether as a result of new information, future events or otherwise.

Management relies on the non-GAAP items as the primary measures to review and assess operating performance and management teams. The Company believes it is useful to investors to provide disclosures of its operating results on the same basis as that used by management.  Management and investors also review the non-GAAP items to evaluate the Company's overall performance and to compare its current operating results with corresponding periods and with other companies in the health care industry. You should not consider the non-GAAP items in isolation or as a substitute for net income, operating cash flows or other cash flow statement data determined in accordance with accounting principles generally accepted in the United States. Because the non-GAAP items are not measures of financial performance under accounting principles generally accepted in the United States and are susceptible to varying calculations, they may not be comparable to similarly titled measures of other companies.  Adjusted net income, EBITDA and adjusted EBITDA (the "non-GAAP items") are non-GAAP financial measures. Hanger Orthopedic Group, IncPreliminary Selected Financial Data(unaudited)(Dollars in millions except per share data)Three Months Ended September 30,20092010Income statement data:Net sales

$
92.3$
206.7Adjusted EBITDA

$
27.7$
31.4Adjusted net income

$
9.6$
2.0Adjusted earnings per diluted share

$
.30$
.37Balance sheet data:Cash and cash equivalents

$
78.4$
95.6Total debt

$
409.7$
405.3Reconciliation of non-GAAP numbersNet income

$
9.6$
.9Relocation expenses (after tax)

-4.8Cost related to pending acquisition (after tax)

-0.3Adjusted net income

$
9.6$
2.0Per diluted share:Net income

$
.30$
.21Relocation expenses (after tax)

-0.15Cost related to pending acquisition (after tax)

-0.01Adjusted net income

$
.30$
.37Shares used to compute diluted per common share amounts

32,214,32132,848,595Net income

$
9.6$
.9Provision for income taxes

6.43.8Interest expense

7.77.6Depreciation and amortization

4.04.5EBITDA

27.722.8Relocation expenses

-8.0Cost related to acquisition

-0.6Adjusted EBITDA

$
27.7$
31.4Management relies on the non-GAAP items as the primary measures to review and assess operating performance and management teams. The Company believes it is useful to investors to provide disclosures of its operating results on the same basis as that used by management.  Management and investors also review the non-GAAP items to evaluate the Company’s overall performance and to compare its current operating results with corresponding periods and with other companies in the health care industry. You should not consider the non-GAAP items in isolation or as a substitute for net income, operating cash flows or other cash flow statement data determined in accordance with accounting principles generally accepted in the United States. Because the non-GAAP items are not measures of financial performance under accounting principles generally accepted in the United States and are susceptible to varying calculations, they may not be comparable to similarly titled measures of other companies.  Adjusted net income, EBITDA and adjusted EBITDA (the “non-GAAP items”) are non-GAAP financial measures.


'/>"/>
SOURCE Hanger Orthopedic Group, Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. FDAs Just Approved Monthly Drug Treatment, Vivitrol Could Be Game Changer, Says Countrys Largest Drug Treatment Recovery President, CRCs Jerry Rhodes; Provides Addicts One Decision A Month Instead of 30
2. Hanger Orthopedic Group, Inc. Announces Third Quarter 2010 Earnings Release Conference Call
3. Hanger Orthopedic Group, Inc. Announces Second Quarter 2010 Earnings Release Conference Call
4. Hanger Ivan R. Sabel Foundation to Receive $75,000 Donation Towards Charitable Prosthetic Efforts in Haiti from Grapes for Humanity/US
5. Hanger Orthopedic Group Honored for its Charitable Relief Efforts in Haiti by InterAction
6. Hanger Orthopedic Group, Inc. Announces Three Acquisitions With Annual Revenues of $14.0 Million
7. 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
8. Hanger Orthopedic Group, Inc. Announces 2009 Year-End Earnings Release Conference Call
9. Hanger Orthopedic Group Increases Q4 2009 Sales and EPS Guidance
10. Hanger Orthopedic Group, Inc. Announces Three Acquisitions Totaling $10.7 Million of Annual Net Revenue
11. Orthopedics This Week Announces 2010 Best Spine Technology Award Winners
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/24/2016)... , June 24, 2016 Research and ... Market for Companion Diagnostic Tests" report to their offering. ... for Companion Diagnostics The World Market for ... personalized medicine diagnostics. Market analysis in the report includes the ... Market (In Vitro Diagnostic Kits) by Region (N. America, EU, ...
(Date:6/23/2016)... , June 23, 2016  MedSource announced today ... its e-clinical software solution of choice.  This latest ... possible value to their clients by offering a ... preferred relationship establishes nowEDC as the EDC platform ... MedSource,s full-service clients.  "nowEDC has long been a ...
(Date:6/23/2016)... Roche (SIX: RO, ROG; OTCQX: RHHBY) announced ... BRAHMS PCT (procalcitonin) assay as a dedicated testing solution ... this clearance, Roche is the first IVD company in ... sepsis risk assessment and management. PCT is ... levels in blood can aid clinicians in assessing the ...
Breaking Medicine Technology:
(Date:6/25/2016)... ... June 25, 2016 , ... "With 30 hand-drawn hand gesture ... said Christina Austin - CEO of Pixel Film Studios. , ProHand Cartoon’s package ... Final Cut Pro X . Simply select a ProHand generator and drag it ...
(Date:6/25/2016)... Oklahoma City, Oklahoma (PRWEB) , ... June 25, ... ... to helping both athletes and non-athletes recover from injury. Recently, he has implemented ... for the Oklahoma City area —Johnson is one of the first doctors to ...
(Date:6/24/2016)... ... June 24, 2016 , ... A recent article published June 14 ... The article goes on to state that individuals are now more comfortable seeking to ... operations such as calf and cheek reduction. The Los Angeles area medical group, Beverly ...
(Date:6/24/2016)... ... ... Marcy was in a crisis. Her son James, eight, was out of control. Prone to ... , “When something upset him, he couldn’t control his emotions,” remembers Marcy. “If there ... my other children and say he was going to kill them. If we were ...
(Date:6/24/2016)... ... June 24, 2016 , ... Dr. Amanda ... orthodontic treatment. Dr. Cheng has extensive experience with all areas of orthodontics, including ... accelerated osteogenic orthodontics. , Micro-osteoperforation is a revolutionary adjunct to orthodontic treatment. ...
Breaking Medicine News(10 mins):