Hanger releases first quarter reports

Hanger Inc. announced net sales of $233.5 million for the first quarter of 2013, an increase of $15.4 million, or 7.1%, from $218.1 million for the first quarter of 2012, according to a company press release.

The first quarter net sales increase of $15.4 million, or 7.1%, was the result of a $16.7 million, of 9.5%, increase in the patient care segment, partially offset by a $1.3 million, or 3%, decrease in the products and services segment. Income from operations for the quarter was $22.7 million, compared to $21.7 million in 2012.

“We are pleased with our 12% adjusted PES growth in the quarter and with our 7% top-line growth, which took us about $1 billion in trailing 12 months sales for the first time in our history,” Vinit K. Asar, president and chief executive officer of Hanger, stated. “While same center sales growth in our patient care segment was affected by the high 2012 comparison and severe weather, our underlying sales momentum remains strong. We still expect same center sales growth of 3% to 5% for the patient care segment for the full year.”

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