Hanger, Austin, Texas, released its preliminary fiscal year 2013 financial results. Hanger reported that it anticipates adjusted diluted earnings per share (EPS) for fiscal year 2013 to be between $1.94 and $1.96, which is below the previous guidance range of $2.08 to $2.11, which was provided by the company on October 29, 2013. The lower than anticipated earnings in the fourth quarter (4Q) of 2013 were principally the result of operational issues isolated to a small non-clinic unit within the patient care segment.
“We are clearly disappointed that operating problems at this unit impacted our fourth quarter results,” said Vinit Asar, president and CEO of Hanger. “Despite this unfortunate setback, we still anticipate delivering adjusted EPS growth of at least 8 percent for 2013. We remain confident in our core business and expect to deliver adjusted EPS growth of approximately 10 percent in 2014.”
Additional details on the fourth quarter and full fiscal year 2013 results and 2014 guidance will be provided in the company’s 4Q 2013 earnings release to be issued on February 12, and earnings call to be held on February 13. The earnings call is scheduled to begin at 9 a.m. ET. Those wishing to participate should call 877.662.6095. A replay will be available until Friday, February 21, by dialing 855.859.2056 and referencing Conference ID #36619714.