This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Hanger Orthopedic Group Inc. Q1 2010 Earnings Call Transcript

Our comp rate of 30.1% is comparable to the prior quarter, and the rate for the full year after the fiscal inventory adjustment, so we are in good shape there. We continue to do an incredible job of managing our expenses, personnel and other operating costs, are in-line are below our budgeted expectations. Operating expenses only increased $900,000 in Q1 of 2009 in fact, and that’s including cost associated with some acquisitions that were made late in the year.

As discussed in our year-end call, we are in the process of moving the corporate headquarters from the Bethesda, Maryland to Austin, Texas. In this quarter we incurred $2.1 million of employee termination and other relocation related expenses. These expenses are non-recurring and are shown on a separate line in our income statement. I’ll talk more about the move in a couple of minutes.

D&A and interest was about $200,000 below last year. Our tax rate was consistent with prior periods at 40%. All the factors I’ve just discussed led to a 14% increase in pro-forma EPS for the quarter, so we are happy with our results.

Moving on to the balance sheet; our AR decreased $6.2 million from year-end and our DSO’s dropped to 46 days, a four-day improvement compared to year-end; that’s the lowest we’ve ever reported. The quality of our receivables is excellent and we are comfortable with our reserve for doubtful accounts. Our collections remained strong.

Our inventory increased by $1.8 million to $93.1 million, from $91.3 million at the end of last year. Inventory turns improved slightly to 4.3 times from 4.2 times a year ago. Our sales backlog remains strong at quarter end, and our inventor is at appropriate levels to serve our patients.

Read the rest of this transcript for free on seekingalpha.com

3 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
HGR $23.55 0.00%
AAPL $132.54 0.00%
FB $80.54 0.00%
GOOG $540.11 0.00%
TSLA $247.73 0.00%

Markets

DOW 18,232.02 -53.72 -0.29%
S&P 500 2,126.06 -4.76 -0.22%
NASDAQ 5,089.3620 -1.4320 -0.03%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs