Orthotic care company Hanger Inc (OTC PINK:HNGR) stated on Thursday its GAAP net income of USD12.9m (GAAP diluted earnings per share was USD0.35) for the second quarter ended 30 June 2018.

This marks an improvement when compared with GAAP net income of USD1.6m (earnings of USD0.04 per share) for the same period in 2017.

Net revenue of USD267.0m was generated for the three months ended 30 June 2018, reflecting net revenue growth of 1.4% year-over-year from USD263.4m for the same period in 2017. Both business segments reflected positive growth over the prior year quarter.

Adjusted EBITDA of USD33.6m was recorded in the second quarter of 2018, a drop of 8.6% over USD36.8m in the second quarter of 2017 due to a increase in corporate and other expense year-over-year, relating primarily to investments in growth and other corporate initiatives.