Hanger reports second quarter earnings

Hanger Inc. announced net sales of $251.8 million for the second quarter of 2012, an increase of $17 million, or 7.2%, from the second quarter of 2011, according to a company press release.

The sales increase was a result of an $8.8 million, or 4.6%, increase in same-center sales in the patient-care segment, a $5.9 million increase from acquired entities, a $1.8 million, or 7.2%, increase in sales in the distribution segment and a $0.3 million increase from the therapeutic solutions segment. The sales increases resulted in a $2.8 million, or 8.6%, increase in income for the second quarter compared with income for the second quarter of 2011.

“We continue to deliver strong revenue growth in our patient-care services and our distribution segments. This, combined with solid operational execution demonstrated by our talented employees around the country, has resulted in 11.1% growth in diluted earnings per share,” Vinit K. Asar, chief executive officer of Hanger, said in the release. “Our operations continue to generate good cash flow as we execute our planned investments in programs, acquisitions and infrastructure improvements that will continue to provide a sustainable platform for future growth.”

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