(HGR) Hanger Orthopedic Group, Inc. – 25% spike in net income

August 7th, 2009

Hanger Orthopedic Group, Inc. (HGR) is seeing consistent year-over-year earnings growth and has just topped estimates on higher sales.

Company Description

Hanger Orthopedic Group Inc. develops, acquires and operates orthotic and prosthetic patient-care centers. The centers design, fabricate, fit and supervise the use of external musculoskeletal support devices and artificial limbs.

The company also manufactures devices and is the country’s largest distributor of orthotics and prosthetics components.

Beats Expectations

On Jul 28 the company reported second-quarter results that included sales of almost $194 million, up 7% on a year-over-year basis. This led to a 25% spike in net income which rose to $10 million.

Earnings per share came in at 31 cents, beating the Zacks consensus estimate by 4 cents. The company earned just 25 cents in the same period last year.

Bullish Guidance

In the same report, management decided to raise its full-year guidance. Sales for 2009 are now expected to land between $750 million and $760 million. Hanger’s EPS forecast is up 6 cents to between $1.02 and $1.04.

Analysts are slightly cautious, with the Zacks consensus coming at the bottom of the range. Following raised guidance by all 4 analysts polled by Zacks, the estimates are averaging $1.02, up from 97 cents.

Projections for next year average $1.16, up a nickel. These estimates would yield growth rates of 29% in 2009 and another 14% next year.

The Chart

Earnings estimates have increased steadily year over year for the past 4 years. Each colored line represents the Zacks consensus estimate for the respective year. Take a look at the chart below.


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More on this topic (What's this?)
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Hanger Orthopedic Group Reports Adjusted EPS of $0.37 (Benzinga, 10/27/10)
Read more on Hanger Orthopedic Group at Wikinvest

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