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Hanger Reports First Quarter 2013 Results
Date:5/1/2013

AUSTIN, Texas, May 1, 2013 /PRNewswire/ --

  • Reports $0.27 diluted EPS
  • Reports adjusted diluted EPS of $0.28, an increase of 12%
  • Realigns business segments to better reflect market strategy
  • Reaffirms full year 2013 guidance
  • Hanger, Inc. (NYSE: HGR) announced net sales of $233.5 million for the quarter ended March 31, 2013, an increase of $15.4 million, or 7.1%, from $218.1 million for the first quarter of 2012.
    Diluted earnings per share were $0.27 for the first quarter of 2013 compared to $0.25 for the same period of 2012.  Adjusted diluted earnings per share, which excludes costs related to acquisitions and the roll out of the Company's clinic management system (which the Company refers to as "Janus"), increased 12.0% to $0.28 for the first quarter of 2013 from $0.25 for the first quarter of 2012.

    In the first quarter of 2013, the Company realigned its reporting segments and management structure (the "realignment") to better reflect its dual strategy of growth within the existing O&P market and expansion into adjacent markets. The Company has divided its operations into two segments: Patient Care and Products & Services.  The Patient Care segment will now include its contracting and network management division, Linkia, which was previously reported within the "Other" segment.
    The Products & Services segment will combine the two segments previously reported as Distribution and Therapeutic Solutions.  The realignment will enable the Products & Services segment to integrate its technologies, products and services, sales force and other personnel to meet the demands of its key end-markets.  The change will also allow both segments to better focus on growth strategies and operating efficiencies that leverage their scale and market position.

    The first quarter net sales increase of $15.4
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    SOURCE Hanger, Inc.
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