Hanger Orthopedic Group, Inc. announced net sales of $218.1 million for the first quarter of 2012, an increase of $17.7 million, or 8.8%, from the first quarter of 2011, according to a company press release.
The sales increase was a result of an $11.4 million, or 7.1%, increase in same-center sales in the patient-care segment, a $4.4 million increase from acquired entities, a $2.8 million increase in sales in the distribution segment and a $0.9 million increase in the therapeutic solutions segment. The sales increases resulted in a $1.2 million increase in income for the first quarter compared with income for the first quarter of 2011.
“Our Patient-Care Services and Distribution segments delivered strong revenue growth, which drove 15.8% growth in diluted earnings per share,” Thomas F. Kirk, chief executive officer of Hanger Orthopedic Group, stated in the release. “We are very pleased with the strength of this performance and remain confident in achieving our full year guidance. Nevertheless, we expect the regulatory and reimbursement environment to remain challenging though the remainder of 2012.”
