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HANGER, INC.

(HNGR)
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HANGER, INC. Results of Operations and Financial Condition (form 8-K/A)

11/09/2021 | 04:30pm EST

Item 2.02. Results of Operations and Financial Condition.

On November 8, 2021, Hanger, Inc. (the "Company") filed a press release announcing the Company's financial results for the three and nine months ended September 30, 2021. The amounts included under the heading "Net Cash Provided by Operating Activities" on page 4 of the press release with respect to the cash flows provided by operating activities for the three months ended September 30, 2021 and for September 30, 2020 were incorrect, and that section is hereby amended and restated in its entirety to read as follows:

Net Cash Provided by Operating Activities; Liquidity

Cash flows provided by operating activities for the three months ending September 30, 2021 were $10.0 million compared to cash flows provided by operating activities of $45.2 million for the same period in 2020. The Company's days sales outstanding were 42 days as of September 30, 2021, which reflected a one day improvement as compared to the same period in 2020.

On September 30, 2021, the Company had liquidity of $170.5 million, comprised of $75.6 million in cash and cash equivalents, and $94.9 million in available borrowing capacity under its revolving credit facility. This compares to total liquidity of $171.1 million on June 30, 2021.

The Company is not amending any other information in the press release, nor is it amending any information contained within the body of the original Form 8-K.

The information contained in Item 2.02 of this Current Report on Form 8-K/A is intended to be furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such filing.

































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