Hanger Orthopedic Group reported 9.5 percent revenue increase during the fourth quarter of 2011, while full-year revenues grew 12.4 percent, according to a company news release.
The company reported net sales of $248 million for the fourth quarter, an increase of $21.6 million from the same period last year. Full year net sales were reported as $918.5 million. Despite the growth, the company still under performed expectations due to high unemployment, flat Medicare pricing and reduction in Medicaid reimbursement, according to the release.
The company expects full year revenues for 2012 to reach $970 million to $990 million.
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The company expects full year revenues for 2012 to reach $970 million to $990 million.
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