Hanger Inc., an Austin-based medical device manufacturer, expects its accounting costs for correcting years of incorrect financial statements to top $28 million by the end of 2015.
In a recent SEC filing, the company said it incurred $16 million in third-party accounting costs in 2014 and expects to spend another $12 million this year to correct quarterly statements from 2012-2014 that showed the company earned about 15 cents less per share than it had reported.
Hanger (NYSE: HGR) still has not filed its earnings statements for the third and fourth quarters or the whole-year earnings for 2014, or the first two quarters of 2015.
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