Hanger (HGR) Crashes After Reporting 1Q'14 Results

Hanger (HGR) [formerly Hanger Orthopedics] is one of the oldest holdings in the GDT::Portfolio. Hanger reported 1Q'14 results yesterday (02014.05.05) after the market closed and today HGR is down almost 8% in the first few minutes of trading. It's possible HGR will make a new 52-week low today (02014.05.06). From the 1Q'14 press release.

"First quarter proved to be challenging for us on a variety of fronts, but our outlook on the core business remains very positive," commented Vinit Asar, President and Chief Executive Officer. "Like many companies, the harsh winter weather throughout the first quarter significantly impacted our sales and earnings.

Not the way you want to start a quarterly report.

And the following was reported.

"The Company lowered its 2014 full-year adjusted diluted EPS guidance [...] The Company has lowered its projected full year 2014 same center sales growth [...] The Company lowered 2014 full-year net sales guidance [...]"

HGR closed yesterday (02014.05.05) at $33.62. 52-week range: $30.10 - $40.71. HGR hit an intra-day low of $30.31 shortly after the market opened.