Hanger Orthopedic subsidiary wins da Vinci award

Hanger Orthopedic Group, Inc. (NYSE: HGR) subsidiary Innovative Neurotronics has won the 2007 da Vinci award for outstanding engineering achievements in adaptive and assistive technology for its WalkAide System. As the American population continues to age, adaptive and assistive technologies will become more in demand. Though still a small contributor to Hangar's bottom line, Innovative Neurotronics may have an impact far in excess of its size. Innovative Neurotronics helps to develop and market neuromuscular technologies that help people continue to live productive lives.

Hanger's other business units are also doing very well. Hanger recently reported record 3Q revenue and a 20% EPS growth/ Revenue increased to $162.3 million, net sales increased 7% or almost $11 million, and net income increased by just under 27% or $5.4 million. More than the dollar figures, Hanger's numbers represent the 7th quarter in a row in which the company has exceeded analysts' earnings figures. Most of Hanger's growth has been in its direct patient care unit, that is, actual organic growth. YTD figures show the same trends as 3Q figures. The only blip on the screen is that Hanger's administrative expenses and cost of goods sold is rising faster than increases in net sales.

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