Hanger, Inc. (HGR) reported net income for the fourth quarter of $21.8 million or $0.62 per share, compared to $18.0 million or $0.52 per share for the year-ago quarter.
Adjusted diluted earnings per share, which excludes certain tax benefits and costs related to acquisitions, the company's clinic management system and the 2010 relocation of the company's corporate headquarters, increased to $0.58 in the fourth quarter from $0.50 in the prior year quarter.
Net sales for the fourth quarter rose 9.7% to $272.2 million from $248.1 million a year ago.
Analysts polled by Thomson Reuters expected the company to earn $0.56 per share on revenue of $265.55 million for the fourth quarter. Analysts' estimates typically exclude special items.
Looking forward to full year 2013, the company forecast revenues of $1.06 billion to $1.08 billion and adjusted earnings of $2.02 to $2.09 per share. Analysts currently expect the company to earn $1.99 per share on revenue of $1.04 billion for the full year 2013.
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