Austin-based Hanger, American Campus report strong earnings

Feb 13, 2014
Austin American Statesman

Hanger Inc. and American Campus Communities Inc. reported fourth-quarter earnings that beat expectations on Wednesday, capping a year of strong sales growth at both Austin-based companies


Hanger, an orthotics and prosthetics provider, said revenue hit the $1 billion mark in 2013, rising 7.4 percent from the $974.4 million it posted in 2012


American Campus Communities posted sharp increases in both revenue and profit. The student-housing provider said its annual revenue jumped by 41.2 percent in 2013, rising to $657.5 million from the $465.7 million it reported for 2012


Net income increased even faster, jumping 84.8 percent. Profits rose to $104.6 million (98 cents a share) in 2013 from $56.6 million (65 cents a share) the prior year


Both companies reported 2014 forecasts that were in line with Wall Street estimates


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