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Hanger releases fourth quarter earnings

Hanger, Inc. announced net sales of $272.2 million for the fourth quarter of 2012, an increase of $24.1 million, or 9.7%, from the fourth quarter of 2011, according to a company press release.

The sales increase was a result of a $21.8 million, or 10.5%, increase in the patient care segment, $9.8 million increase in same-center sales, a $12 million increase from acquired entities, a $1.3 million increase in sales in the distribution segment and a $1 million increase from the therapeutic solutions segment. The sales increases resulted in an income of $38.9 million for the fourth quarter, compared with $34.3 million for the fourth quarter of 2011.

“We reported excellent results across the board in the fourth quarter,” Vinit K. Asar, president and chief executive officer of Hanger, stated in the release. “Patient care finished the year strong with 4.7% same center sales growth and better than anticipated sales from acquisitions. Distribution reported 5.1% growth, and therapeutic solutions reported sales growth for the first time in over a year during the fourth quarter. We anticipate 2013 will be another year of profitable growth, even as we continue to make key investments in capabilities aimed at enhancing long-term productivity.”

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