Benzinga | May 5, 2021 04:46PM EDT

Hanger Reaffirms FY21 Sales Guidance $1.145B-$1.175B vs $1.16B Est.

The Company re-affirmed its financial outlook for 2021 as originally provided on March 1, 2021. Hanger anticipates net revenue in a range between $1.145 billion and $1.175 billion, and Adjusted EBITDA in a range between $130 million and $135 million.

The Company's outlook for 2021 includes approximately $27 million in revenue relating to the full year contribution of acquisitions consummated in 2020 and through March 31, 2021.

The Company reiterated that the degree of additional impact, and timing of cessation of the effects of the COVID-19 pandemic on the Company's business remain uncertain. Hanger's outlook continues to assume significant continuing declines in the effects of the virus on public activities due to an increase in the rate of vaccination during the second quarter of 2021, and a full return to general pre-COVID business conditions by the end of June 2021.

Adjusted EBITDA in this outlook is provided on a non-GAAP basis only because a reconciliation to the most comparable GAAP financial measure, net income, is not available without unreasonable effort due to the unpredictable nature of reconciling items that render such a reconciliation not meaningful for investors.