Hanger Reports First Quarter 2018 Results

Austin, Texas, June 14, 2018 - Hanger, Inc. (OTC PINK: HNGR), a leading provider
of orthotic and prosthetic patient care services and solutions, today announced the
filing of its Quarterly Report on Form 10-Q for the three months ended March 31,
2018 with the Securities and Exchange Commission. The Company is now current
with its periodic filings.

The Company intends to commence the process of relisting on a national securities

exchange during the third quarter of 2018. As disclosed in the recent investor
conference call held on May 15th, the Company does not plan to host a conference
call regarding first quarter 2018 results.

Vinit Asar, President and Chief Executive Officer of Hanger, Inc., stated, “Our first
quarter results were in-line with the preliminary expectations that we provided in
May. Adjusted EBITDA growth outpaced revenue increases, as we benefited from
lower operating expenses compared to the year-ago period.”

Mr. Asar continued, “We are pleased to report a continuation of the Patient Care
growth trends we re-established during 2017. We’ve achieved a good start to 2018
and anticipate a solid performance for the year.”

Financial Highlights for the First Quarter of 2018

• Net revenue of $234.0 million for the three months ended March 31, 2018,
compared to $233.7 million for the same period in 2017.

• GAAP net loss of $22.6 million for the three months ended March 31, 2018,
compared to $17.7 million for the same period in 2017. Adjusted EBITDA was
$16.2 million in the first quarter of 2018 compared to $14.3 million in the first
quarter of 2017, an increase of $1.9 million.

• GAAP net loss includes $17.0 million in costs for the extinguishment of debt
associated with the Company’s first quarter re-financing.

• GAAP diluted loss per share was $0.62 for the first quarter of 2018, compared to
a loss of $0.49 per share in the first quarter of 2017. Adjusted diluted loss per
share was $0.13 for the three months ended March 31, 2018, compared to a
loss of $0.17 per share in the same period in 2017.
• The Company’s first quarter results are affected by seasonality. The first quarter
is normally the lowest net revenue quarter of the year and the fourth quarter is
ordinarily the highest.

Complete reconciliations of GAAP to non-GAAP financial measures are provided in

the tables located at the end of this press release.

Detailed Results: Three Months Ended March 31, 2018

Patient Care Segment

For the three months ended March 31, 2018, the Company’s Patient Care net
revenue totaled $188.5 million, an increase of $0.9 million compared to the same
period of 2017. The net revenue growth was primarily the result of higher same
clinic revenue growth in the first quarter of 2018.

• Same clinic revenue per day grew 1.1 percent for the three months ended March
31, 2018. The Company reported year-over-year growth in prosthetics revenue
of 6.0 percent, which caused prosthetic revenue as a percentage of total
revenue to increase to 51 percent as compared with 49 percent in the first
quarter of 2017. Growth in prosthetics was partially offset by a decline in
orthotics, specifically lower-margin off-the-shelf devices and corrective footwear,
which the Company has deemphasized within its Patient Care clinics.

• The Company adopted Accounting Standards Codification Topic 606, “Revenue

from Contracts with Customers” (“ASC 606”), a new revenue accounting
standard, in the first quarter of 2018, which had the effect of reclassifying $0.9
million in charges for the Patient Care segment from bad debt expense to a
reduction of revenue during the period. The standard did not apply to the
comparative prior year first quarter period.

• The percentage of Patient Care’s disallowed gross revenue was 4.2 percent and
3.7 percent for the three months ended March 31, 2018 and 2017, respectively.
The first quarter of 2018 disallowance rate was consistent with Patient Care
disallowed revenue of 4.2 percent for the full year of 2017. While the Company
is pursuing continued improvements in disallowed revenue, it does not currently
anticipate a downward trend during 2018 similar to those seen over the past
three years.

Income from operations in the Patient Care segment was $17.1 million during the
first quarter of 2018, which reflected an increase of $2.6 million, or 17.5 percent,
over the $14.5 million reported in the prior year. Adjusted EBITDA for the segment
was $23.0 million, which reflected a $2.2 million, or 10.5 percent increase over the
prior year period.

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• In addition to the favorable effect of earnings from the growth in same clinic
sales during the first quarter of 2018, the Patient Care segment also benefited
from a decline of approximately $2.6 million in personnel and other operating
expense reductions, primarily lower benefit and bad debt expense. These
declines were partially offset by higher cost of materials, salary and travel
expenses in the Patient Care segment.

• Income from operations also benefited from a $0.5 million decrease in

depreciation and amortization expense, as compared to the prior year quarter.

Products & Services Segment

For the first three months of 2018, the Company’s Products & Services net revenue
totaled $45.5 million, a $0.6 million decrease compared to the same period of
2017, which was a decline of 1.2 percent. The revenue decline was due to a $1.3
million decrease in revenue for therapeutic solutions, which are services primarily
provided to the post-acute market within skilled nursing facilities.

• The Company recognized approximately $14.1 million in revenues from

therapeutic solutions in the first three months of 2018. The first quarter 2018
result is consistent with the Company’s expectations as provided on its May 15th
investor call that it anticipates a potential decline of approximately $8 million in
revenue from these services in 2018. The Company is currently pursuing
strategies to stabilize and maximize value from these services.

• Revenue from the distribution of O&P componentry to independent providers

increased by $0.7 million, or 2.4 percent, for the first three months of 2018,
partially offsetting the decline in therapeutic solutions. This was consistent with
the Company’s expectations for modest growth of these offerings during 2018.

Income from operations for the Products & Services segment declined by $0.2
million to $5.9 million in the first three months of 2018. Adjusted EBITDA for the
Products & Services segment was $8.7 million during the first quarter of 2018,
which reflected a $0.3 million decline as compared with Adjusted EBITDA of $9.0
million in the same period of 2017.

Net Loss; Interest Expense

For the first three months of 2018, net loss was $22.6 million compared with a net
loss of $17.7 million in the same period of 2017.

• The higher net loss was due to the $17.0 million charge for extinguishment of
debt discussed above, recognized in the first quarter of 2018.

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• Professional accounting and legal fees of $4.8 million reflected a decrease of
$7.8 million as compared to the first quarter of 2017. This decrease was the
result of a reduction in activities associated with the Company’s ongoing
financial remediation efforts.

Interest expense for the first quarter of 2018 declined to $12.3 million from $14.0
million in the same period of 2017. This $1.7 million decrease resulted from a
partial quarter of lower interest expense associated with the Company’s debt
refinancing in March 2018.

Liquidity

On March 31, 2018, the Company had liquidity of $127.0 million, comprised of
$32.9 million in cash and cash equivalents, and $94.1 million in available borrowing
capacity under its revolving credit facility, compared to liquidity of $87.9 million on
December 31, 2017, comprised of $1.5 million in cash and cash equivalents, and
$86.4 million in available borrowing capacity under its revolving credit facility. The
increase in liquidity from year-end 2017 resulted from the refinancing of the
Company’s outstanding debt with a new, $605 million Senior Credit Facility,
completed on March 6, 2018.

2018 Outlook

As previously disclosed on May 14th, for the full year 2018, the Company anticipates
net revenue and Adjusted EBITDA to be generally consistent with actual 2017
results. Although the Company’s Adjusted EBITDA for the period ended March 31,
2018 reflected an increase over the comparable period in 2017, the Company
believes this to be primarily related to the favorable timing of its expenses in that
period. All amounts relating to the full year 2018 are subject to material change as
the Company continues to evaluate its expectations for annual results.

Additional Notes

A reconciliation of GAAP and non-GAAP financial results is included in the tables

provided at the back of this press release. The Company has provided certain
supplemental key statistics relating its results for certain prior periods. These key
statistics are non-GAAP measures used by the Company’s management to analyze
the Company’s business results that are being provided for informational and
analytical context.

Accompanying supplemental information will be posted to the Investor Relations

section of Hanger’s web site at www.hanger.com/investors.

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About Hanger, Inc. – Built on the legacy of James Edward Hanger, the first
amputee of the American Civil War, Hanger, Inc. (OTC PINK: HNGR) delivers
orthotic and prosthetic (O&P) patient care, and distributes O&P products and
rehabilitative solutions to the broader market. Hanger's Patient Care segment is the
largest owner and operator of O&P patient care clinics with approximately
800 patient care locations nationwide. Through its Products & Services segment,
Hanger distributes branded and private label O&P devices, products and
components, and provides rehabilitative solutions. With over 150 years of clinical
excellence and innovation, Hanger's vision is to lead the orthotic & prosthetic
markets by providing superior patient care, outcomes, services and value. For more
information on Hanger, visit www.hanger.com.

This press release contains certain “forward-looking statements” relating to the

Company. All statements, other than statements of historical fact included herein,
are “forward-looking statements.” These forward-looking statements are often
identified by the use of forward-looking terminology such as “preliminary,”
“intends,” “expects,” “plans,” “anticipates,” “believes,” “views” or similar
expressions and involve known and unknown risks and uncertainties. Although the
Company believes that the expectations reflected in these forward-looking
statements are reasonable, they do involve assumptions, risks, and uncertainties,
and these expectations may prove to be incorrect. Investors should not place undue
reliance on these forward-looking statements, which speak only as of the date of
this press release. The Company disclaims any intention or obligation to update or
revise any forward-looking information, whether as a result of new information,
future events or otherwise, except as required by applicable securities laws. These
uncertainties include, but are not limited to, the risk that additional information
may arise during the course of the Company’s ongoing financial statement
preparation and closing processes that would require the Company to make
additional adjustments or revisions to its estimates or financial statements and
other financial data, to identify additional material weaknesses, or to take any other
necessary action relating to the Company’s accounting practices; the time required
to complete the Company’s financial statements and other financial data and
accounting review; the time required to prepare its periodic reports for filings with
the Securities and Exchange Commission; the impact of the Tax Cuts and Jobs Act
on the Company’s financial statements; any regulatory review of, or litigation
relating to, the Company’s accounting practices, financial statements and other
financial data, periodic reports or other corporate actions; changes in the demand
for the Company’s O&P products and services; uncertainties relating to the results
of operations or recently acquired O&P patient care clinics; the Company’s ability to
enter into and derive benefits from managed-care contracts; the Company’s ability
to successfully attract and retain qualified O&P clinicians; federal laws governing
the health care industry; uncertainties inherent in investigations and legal
proceedings; governmental policies affecting O&P operations; and other risks and

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uncertainties generally affecting the health care industry. For additional information
and risk factors that could affect the Company, see its Form 10-K for the year
ended December 31, 2017 as filed with the Securities and Exchange Commission.
The information contained in this press release is made only as of the date hereof,
even if subsequently made available by the Company on its website or otherwise.

SOURCE Hanger, Inc.

Investor Relations Contacts:

Thomas Kiraly, Executive Vice President and Chief Financial Officer, Hanger, Inc.
Seth Frank, Vice President, Treasury and Investor Relations, Hanger, Inc.
512-777-3690, [email protected]

###

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 Table 1
Hanger, Inc.
Consolidated Balance Sheets
(dollars in thousands)
March 31, December 31,
2018 2017
ASSETS
Current assets:
Cash and cash equivalents $ 32,913 $ 1,508
Net accounts receivable, net 127,010 146,346
Inventories 70,051 69,138
Income taxes receivable 824 13,079
Other current assets 20,004 20,888
Total current assets 250,802 250,959
Non-current assets:
Property, plant and equipment, net 91,302 93,615
Goodwill 196,343 196,343
Other intangible assets, net 19,971 21,940
Deferred income taxes 75,449 68,126
Other assets 10,416 9,440
Total assets $ 644,283 $ 640,423
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Current portion of long-term debt $ 10,312 $ 4,336
Accounts payable 50,722 48,269
Accrued expenses and other current liabilities 64,695 66,683
Accrued compensation related costs 17,216 53,005
Total current liabilities 142,945 172,293
Long-term liabilities:
Long-term debt, less current portion 505,235 445,928
Other liabilities 49,678 50,253
Total liabilities 697,858 668,474
Commitments and contingent liabilities
Shareholders' deficit:
Common stock 369 365
Additional paid-in capital 334,169 333,738
Accumulated other comprehensive loss (4,268) (1,686)
Accumulated deficit (383,149) (359,772)
Treasury stock, at cost (696) (696)
Total shareholders' deficit (53,575) (28,051)
Total liabilities and shareholders' deficit $ 644,283 $ 640,423

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 Table 2
Hanger, Inc.
Consolidated Statements of Operations and Comprehensive Loss
(dollars in thousands, except per share amounts)

Three Months Ended

March 31,
2018 2017

Net revenue $ 233,995 $ 233,681

Material costs 76,356 74,405
Personnel costs 86,108 87,955
Other operating costs 31,096 32,689
General and administrative expenses 25,636 25,386
Professional accounting and legal fees 4,846 12,650
Depreciation and amortization 9,330 10,137
Income (loss) from operations 623 (9,541)
Interest expense, net 12,263 14,009
Loss on extinguishment of debt 16,998 -
Non-service defined benefit plan expense 176 184
Loss before income taxes (28,814) (23,734)
Benefit for income taxes (6,196) (6,000)
Net loss $ (22,618) $ (17,734)

Basic and Diluted Per Common Share Data:

Basic and diluted loss per common share $ (0.62) $ (0.49)
Weighted average shares used to compute basic and diluted earnings
per common share 36,498,482 36,084,630

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 Table 3
Hanger, Inc.
Consolidated Statements of Cash Flows
(dollars in thousands)

Three Months Ended

March 31,
2018 2017
Cash flows from operating activities:
Net loss $ (22,618) $ (17,734)
Adjustments to reconcile net loss to net cash from operating activities:
Depreciation and amortization 9,330 10,137
Provision for doubtful accounts (94) 2,360
Stock-based compensation expense 2,585 2,164
Benefit for deferred income taxes (6,355) (6,050)
Amortization of debt issuance costs 1,701 1,952
Loss on extinguishment of debt 16,998 -
Gain on sale and disposal of fixed assets (594) (672)

Changes in operating assets and liabilities:

Accounts receivable, net 19,425 15,367
Inventories 1,085 (4,653)
Other current assets 650 39
Income taxes 12,255 849
Accounts payable 552 6,333
Accrued expenses and other current liabilities (5,067) (683)
Accrued compensation related costs (35,789) (19,171)
Other liabilities (2,537) (1,901)
Net cash used in operating activities (8,473) (11,663)

Cash flows from investing activities:

Purchase of property, plant and equipment (4,388) (2,348)
Purchase of therapeutic program equipment leased to third parties under
operating leases (2,034) (629)
Purchase of company-owned life insurance investment (598) (555)
Proceeds from sale of property, plant and equipment 840 2,179
Net cash used in investing activities (6,180) (1,353)

Cash flows from financing activities:

Borrowings under term loan, net of discount 501,467 -
Repayment of term loan (431,875) (5,625)
Borrowings under revolving credit agreement 3,000 49,500
Repayments under revolving credit agreement (8,000) (31,500)
Payment of employee taxes on stock-based compensation (2,150) (1,338)
Payment on seller note and other contingent consideration (1,749) (3,498)
Payment of capital lease obligations (364) (278)
Payment of debt issuance costs (6,757) -
Payment of debt extinguishment costs (8,436) -
Net cash provided by financing activities 45,136 7,261

Increase (decrease) in cash, cash equivalents and restricted cash 30,483 (5,755)
Cash, cash equivalents and restricted cash, at beginning of period 4,779 9,412
Cash, cash equivalents and restricted cash, at end of period $ 35,262 $ 3,657

Reconciliation of cash, cash equivalents and restricted cash

Cash and cash equivalents, at beginning of period $ 1,508 $ 7,157
Restricted cash, at beginning of period 3,271 2,255
Cash, cash equivalents and restricted cash, at beginning of period $ 4,779 $ 9,412

Cash and cash equivalents, at end of period $ 32,913 $ 1,414

Restricted cash, at end of period 2,349 2,243
Cash, cash equivalents and restricted cash, at end of period $ 35,262 $ 3,657

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 Table 4
Hanger, Inc.
Segment Information: Revenue, EBITDA and Adjusted EBITDA
(dollars in thousands)

EBITDA is defined as operating income before depreciation and amortization. Adjusted EBITDA is defined as
operating income before certain charges, impairments of intangible assets, third-party professional fees in
excess of normal amounts incurred in connection with our financial statement remediation, debt
extinguishment costs, expenses associated with equity-based compensation, severance expenses associated
with significant reductions in force and expenses incurred in connection with our acquisitions.

We use EBITDA and Adjusted EBITDA as measures to assess the relative level of our indebtedness and our
compliance with certain debt covenants which are based on these measures. Additionally, we utilize these
measures to assess our operating and financial performance. We believe that these measures enhance a
user’s understanding of normal operating income excluding certain charges, depreciation and amortization.

Neither EBITDA or Adjusted EBITDA are measures of financial performance computed in accordance with
Generally Accepted Accounting Principles ("GAAP") and should not be considered in isolation nor as a substitute
for operating income, net income, cash flows from operations, or other statement of operations or cash flow
data prepared in conformity with GAAP, or as a measure of profitability or liquidity. In addition, the calculation
of EBITDA and Adjusted EBITDA is susceptible to varying interpretations and calculations, and the amounts
presented may not be comparable to similarly titled measures of other companies. EBITDA and Adjusted
EBITDA may not be indicative of historical operating results, and we do not intend these measures to be
d ff l f
Three Months Ended
March 31,
2018 2017
Net Revenue (a)
Patient Care $ 188,507 $ 187,637
Products & Services 45,488 46,044
Net revenue $ 233,995 $ 233,681
EBITDA (b)
Patient Care $ 21,991 $ 19,972
Products & Services 8,381 8,739
Corporate & Other (20,419) (28,115)
EBITDA (Non-GAAP) $ 9,953 $ 596
Adjusted EBITDA (b)
Patient Care $ 23,011 $ 20,816
Products & Services 8,651 8,993
Corporate & Other (15,425) (15,468)
Adjusted EBITDA (Non-GAAP) $ 16,237 $ 14,341
(a) Excludes intersegment revenue.
(b) EBITDA and Adjusted EBITDA are "Non-GAAP" measures. Please refer to both Table 6 and Table 7 for a
reconciliation of these measures to GAAP net income.

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 Table 5
Hanger, Inc.
Reconciliation of net loss and loss per share to
adjusted net income and adjusted earnings per share
(dollars in thousands, except share and per share amounts)

Earnings Per Share (or “EPS”) is defined as net income divided by our diluted common shares during the
applicable period. Adjusted EPS is defined as EPS adjusted for impairments of intangible assets, third-party
professional fees in excess of normal amounts incurred in connection with our financial statement remediation,
debt extinguishment costs, severance expenses associated with significant reductions in force and expenses
incurred in connection with our acquisitions and certain other charges.

We utilize Adjusted EPS to assess our operating and financial performance. We believe that this measure
enhances a user’s understanding of normal operating results excluding certain charges.

Adjusted EPS is not a measure of financial performance computed in accordance with GAAP and should not be
considered in isolation nor as a substitute for operating income, net income, cash flows from operations, or
other statement of operations or cash flow data prepared in conformity with GAAP, or as a measure of
profitability or liquidity. In addition, the calculation of Adjusted EPS is susceptible to varying interpretations and
calculations, and the amounts presented may not be comparable to similarly titled measures of other
companies. Adjusted EPS may not be indicative of historical operating results, and we do not intend these
measures to be predictive of future results of operations.

Three Months Ended

March 31,
2018 2017
Net loss - as reported (GAAP) $ (22,618) $ (17,734)
Adjustments:
Impairment of intangible assets - -
Amortization expense 1,953 2,452
Third-party professional fees 3,700 11,537
Loss on extinguishment of debt 16,998 -
Severance expenses associated with reduction in force - 43
(Income) loss from discontinued operations before taxes - -
Specified adjustments prior to tax effect $ 22,651 $ 14,032
Tax effect of specified adjustments (a) (4,717) (2,313)
Specified adjustments after taxes 17,934 11,719
Adjusted net income (Non-GAAP) $ (4,684) $ (6,015)
Basic and diluted loss per share - as reported (GAAP) $ (0.62) $ (0.49)
Effect of above listed specified adjustments 0.49 0.32
Adjusted diluted income per share (Non-GAAP) $ (0.13) $ (0.17)

Shares used to compute basic and diluted earnings per common share 36,498,482 36,084,630

(a) "Tax effect of specified adjustments" reflects the difference between the Company's effective provision for
taxes and the application of a combined federal and state statutory tax rate of 24% and 38% respectively for
the 2018 and 2017 periods to the Company's earnings from continuing operations before taxes, after the
incorporation of the identified above adjustments.

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 Table 6
Hanger, Inc.
Reconciliation of net loss to EBITDA and Adjusted EBITDA
(dollars in thousands)

EBITDA is defined as operating income before depreciation and amortization. Adjusted EBITDA is defined as
operating income before certain charges, impairments of intangible assets, third-party professional fees in
excess of normal amounts incurred in connection with our financial statement remediation, debt
extinguishment costs, expenses associated with equity-based compensation, severance expenses associated
with significant reductions in force and expenses incurred in connection with our acquisitions.

We use EBITDA and Adjusted EBITDA as measures to assess the relative level of our indebtedness and our
compliance with certain debt covenants which are based on these measures. Additionally, we utilize these
measures to assess our operating and financial performance. We believe that these measures enhance a
user’s understanding of normal operating income excluding certain charges, depreciation and amortization.

Neither EBITDA or Adjusted EBITDA are measures of financial performance computed in accordance with GAAP
and should not be considered in isolation nor as a substitute for operating income, net income, cash flows from
operations, or other statement of operations or cash flow data prepared in conformity with GAAP, or as a
measure of profitability or liquidity. In addition, the calculation of EBITDA and Adjusted EBITDA is susceptible to
varying interpretations and calculations, and the amounts presented may not be comparable to similarly titled
measures of other companies. EBITDA and Adjusted EBITDA may not be indicative of historical operating
results, and we do not intend these measures to be predictive of future results of operations.

Three Months Ended

March 31,
2018 2017
Net loss - as reported (GAAP) $ (22,618) $ (17,734)
Adjustments to calculate EBITDA:
Depreciation and amortization 9,330 10,137
Interest expense, net 12,263 14,009
Loss on extinguishment of debt 16,998 -
Non-service defined benefit plan expense 176 184
Benefit for income taxes (6,196) (6,000)
(Income) loss from discontinued operations, net of income taxes - -
Specified adjustments - net loss to EBITDA 32,571 18,330
EBITDA (Non-GAAP) 9,953 596
Further adjustments to calculate Adjusted EBITDA:
Impairment of intangible assets - -
Third-party professional fees 3,700 11,537
Equity-based compensation 2,584 2,165
Acquisition-related expenses - -
Severance expenses associated with reduction in force - 43
Specified further adjustments - EBITDA to Adjusted EBITDA 6,284 13,745
Adjusted EBITDA (Non-GAAP) $ 16,237 $ 14,341

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 Table 7
Hanger, Inc.
Segment reconciliation of net loss to EBITDA and Adjusted EBITDA
(dollars in thousands)

Three Months Ended

March 31,
2018 2017
Patient Care
Income from operations - as reported (GAAP) $ 17,093 $ 14,543
Depreciation and amortization 4,898 5,429
EBITDA (Non-GAAP) 21,991 19,972
Further adjustments to calculate Adjusted EBITDA:
Impairment of intangible assets - -
Third-party professional fees - -
Equity-based compensation 1,020 771
Severance expenses associated with reduction in force - 73
Specified further adjustments - EBITDA to Adjusted EBITDA 1,020 844
Adjusted EBITDA (Non-GAAP) 23,011 20,816
Products & Services
Income from operations - as reported (GAAP) 5,879 6,069
Depreciation and amortization 2,502 2,670
EBITDA (Non-GAAP) 8,381 8,739
Further adjustments to calculate Adjusted EBITDA:
Impairment of intangible assets - -
Third-party professional fees - -
Equity-based compensation 270 284
Severance expenses associated with reduction in force - (30)
Specified further adjustments - EBITDA to Adjusted EBITDA 270 254
Adjusted EBITDA (Non-GAAP) 8,651 8,993
Corporate & Other
Income from operations - as reported (GAAP) (22,349) (30,153)
Depreciation and amortization 1,930 2,038
EBITDA (Non-GAAP) (20,419) (28,115)
Further adjustments to calculate Adjusted EBITDA:
Impairment of intangible assets - -
Third-party professional fees 3,700 11,537
Equity-based compensation 1,294 1,110
Severance expenses associated with reduction in force - -
Specified further adjustments - EBITDA to Adjusted EBITDA 4,994 12,647
Adjusted EBITDA (Non-GAAP) (15,425) (15,468)
Adjusted EBITDA (Non-GAAP) $ 16,237 $ 14,341

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 Table 8
Hanger, Inc.
Indebtedness
(dollars in thousands)

March 31, December 31,

2018 2017
Revolving credit facility $ - $ 5,000
Term B loan, due 2025 505,000 -
Term B loan, due 2019 - 280,000
Seller notes 4,163 5,912
Term loan, due June 2018 - 151,875
Financing leases and other 16,812 18,169
Total debt before unamortized discount and debt issuance costs 525,975 460,956
Unamortized discount (9,017) (5,556)
Debt issuance costs, net (1,411) (5,136)
Total debt $ 515,547 $ 450,264

Reported as:
Current portion of long-term debt $ 10,312 $ 4,336
Long-term debt 505,235 445,928
Total debt $ 515,547 $ 450,264

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 Table 9
Hanger, Inc.
Key Operating Metrics

Three Months Ended

March 31,
2018 2017
Same clinic revenue growth per day (a):
Growth rate on net revenue 1.1% (0.3)%
Growth rate excluding effect of change in rate of disallowances 1.6% (0.9)%
Clinical locations:
Patient care clinics 683 701
Satellite clinics 108 112
Total clinical locations 791 813

(a) Same Clinic Revenue per Day - Same Clinic Revenue per Day normalizes sales for the number of days a
clinic was open in each comparable period. This measure is both non-GAAP and unaudited.

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