Last $29.62 USD
Change Today -0.20 / -0.67%
Volume 352.4K
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As of 8:04 PM 07/9/14 All times are local (Market data is delayed by at least 15 minutes).

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01/21/14 - $40.71
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hanger inc (HGR) Details

Hanger, Inc. provides orthotic and prosthetic (O&P) patient care services, distributes O&P devices and components, manages O&P networks, and offers therapeutic solutions in the United States. It operates in two segments, Patient Care, and Products & Services. The Patient Care segment owns and operates O&P patient care clinics; and manages an O&P provider network that coordinates various aspects of O&P patient care for insurance companies. It also designs, fabricates, fits, and maintains a range of custom-made braces and other devices, including spinal, knee, and sports-medicine braces that provide external support to patients suffering from musculoskeletal disorders, such as ailments of the back, extremities or joints, and injuries from sports or other activities. In addition, this segment provides custom-made artificial limbs for patients, who are without limbs as a result of traumatic injuries, vascular diseases, diabetes, and cancer or congenital disorders. The Products & Services segment distributes O&P components to independent customers and its patient care clinics; fabricates and distributes therapeutic footwear for diabetic patients in the podiatric market; and provides specialized rehabilitation technologies and integrated clinical programs for post-acute rehabilitation to long-term care facilities and other sub-acute rehabilitation providers. It also offers V-Hold, a vacuum technology used in lower extremity prosthetic devices; and WalkAide system, which benefits patients with foot drop condition due to spinal cord injuries. As of December 31, 2013, the company provided O&P patient care services through approximately 740 patient care clinics and 1,300 clinicians in 45 states and the District of Columbia. The company was formerly known as Hanger Orthopedic Group, Inc. and changed its name to Hanger, Inc. in June 2012. Hanger, Inc. was founded in 1861 and is headquartered in Austin, Texas.

4,800 Employees
Last Reported Date: 04/4/14
Founded in 1861

hanger inc (HGR) Top Compensated Officers

Chief Executive Officer, President, Director ...
Total Annual Compensation: $620.4K
Chief Financial Officer, Principal Accounting...
Total Annual Compensation: $338.8K
Executive Vice President, President of Hanger...
Total Annual Compensation: $432.6K
President of Southern Prosthetic Supply Inc a...
Total Annual Compensation: $307.6K
Vice President and General Counsel
Total Annual Compensation: $289.9K
Compensation as of Fiscal Year 2013.

hanger inc (HGR) Key Developments

Hanger, Inc. Presents at Jefferies 2014 Global Healthcare Conference, Jun-02-2014 03:00 PM

Hanger, Inc. Presents at Jefferies 2014 Global Healthcare Conference, Jun-02-2014 03:00 PM. Venue: Grand Hyatt, New York, New York, United States. Speakers: Vinit K. Asar, Chief Executive Officer, President, Director and Member of Quality & Technology Committee.

Hanger, Inc. and Hanger Prosthetics & Orthotics, Inc. Announces Executive Changes

On May 12, 2014, Richmond L. Taylor, Executive Vice President of Hanger, Inc. and President and Chief Operating Officer of its patient care subsidiary, Hanger Prosthetics & Orthotics, Inc., notified the company of his intention to retire from the company and its affiliates effective December 31, 2014. Samuel M. Liang will join the Company as an Executive Vice President and will become the President of Hanger Clinic. Over the coming months, Mr. Liang will work closely with Mr. Taylor and is expected to assume the role of President of Hanger Clinic in the third quarter of 2014. Mr. Taylor will remain an Executive Vice President of Hanger, Inc., continuing to work closely with Mr. Liang to ensure a smooth transition at Hanger Clinic, until his retirement.

Hanger, Inc. Reports Unaudited Earnings Results for the First Quarter Ended March 31, 2014; Revised Earnings Guidance for the Full Year of 2014

Hanger, Inc. reported unaudited earnings results for the first quarter ended March 31, 2014. For the period, the company reported net income of $5,997,000 or $0.17 per basic and diluted share on net sales of $235,605,000, income from operations was $16,030,000, income before taxes was $9,932,000, adjusted Income from operations was $16,821,000, adjusted net income of $6,734,000 or $0.19 per diluted share against net income of $9,490,000 or $0.27 per basic and diluted share on net sales of $229,350,000, income from operations was $22,716,000, income before taxes was $14,939,000, adjusted Income from operations was $23,174,000, adjusted net income of $9,620,000 or $0.27 per diluted share a year ago. Cash flow used in operations was $9,961,000 compared to cash flow provided by operations was $2,193,000 a year ago. Capital expenditures were $8,861,000 compared to $5,398,000 a year ago. The net sales increase was the result of a $6,500,000, or 3.5% increase in the patient care segment, and a $300,000 decrease in the products & services segment. The decline in adjusted income from operations was driven principally by the weather related decline in same center sales in the Patient Care segment and costs related to the delayed filing of the company's 10-K. The company lowered its 2014 full-year adjusted diluted EPS guidance to a range of between $2.01 and $2.11, which represents growth of between 3.1% and 8.2% over the prior year. The company expects to grow same center sales between 3% and 5% for the remainder of 2014. Taking into account the impact of first quarter 2014 results, the company has lowered its projected full year 2014 same center sales growth to between 2% and 4%. The reduction in earnings projections in part reflects lower same center sales in the Patient Care segment combined with additional investments the company is making in its processes and control environment. The company lowered 2014 full-year net sales guidance to a range of between $1.100 and $1.120 billion. The expectation of lower same center sales growth will be partially offset by accelerated timing of acquisitions which will drive incremental revenues in the remainder of the year, but will not provide significant earnings over that period due to their initial integration costs. Reflecting the lower than expected first quarter results and the reimbursement environment, the company adjusted its expectation of 2014 cash flow from operations to a range of between $80 and $90 million. The company continues to anticipate acquiring O&P operations in 2014 with annualized net sales of between $35 and $45 million, and plans to invest between $40 and $50 million in capital additions during the year. The company's previous full-year 2014 guidance issued on February 12, 2014 was to achieve revenues of $1.110 to $1.130 billion, adjusted diluted EPS of $2.10 and $2.20, patient care same center sales of 3% to 5%, and cash flow from operations of $90 to $100 million.


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