Hanger Orthopedic (HGR) Needs a Uncertainty Prosthetic

Hanger Orthopedic (HGR), the longest held stock in the GDT::Portfolio, reported 3Q'11 results and the shares got hammered on 02011.10.27. HGR closed at $17.84, down almost 16% for the day. 52-week range: $16.33 - $28.47. Trading volume on 02011.10.27 was 2.289 million shares versus a trailing-3-month average of 0.351 million. HGR, which trades on the NYSE, was down almost 16% on a day when the DJIA was up 2.86%‎.

Hanger Orthopedic reported solid 3Q'11 results, but (that damn "but") the company had to "revise" downward 02011 EPS (Earnings Per Share) guidance. Here are the killer words from Hanger's press release.

"While we are pleased with our third quarter results, we experienced increased pressure on sales volumes and operating margin this quarter compared to the first half of the year, which we attribute to the cumulative weakness in the national economy, persistent high unemployment, uncertainty in the minds of our customers on the impact of health care reforms and state governments looking for ways to cover budget shortfalls." -- Thomas F. Kirk, CEO

Hanger.com::Hanger Orthopedic Group Reports Earnings of $0.45 Per Diluted Share for the Third Quarter 2011