$LMAT
LEMAITRE VASCULAR INC

2015 Q1 Form 10-Q Financial Statement

#000119312515176224 Filed on May 07, 2015

View on sec.gov

Income Statement

Concept 2015 Q1 2014 Q1
Revenue $18.95M $16.75M
YoY Change 13.09% 8.92%
Cost Of Revenue $5.830M $5.530M
YoY Change 5.42% 32.42%
Gross Profit $13.12M $11.22M
YoY Change 16.87% 0.16%
Gross Profit Margin 69.23% 66.99%
Selling, General & Admin $9.475M $9.544M
YoY Change -0.72% 10.34%
% of Gross Profit 72.23% 85.03%
Research & Development $1.152M $1.344M
YoY Change -14.29% 5.58%
% of Gross Profit 8.78% 11.97%
Depreciation & Amortization $832.0K $831.0K
YoY Change 0.12% 36.23%
% of Gross Profit 6.34% 7.4%
Operating Expenses $10.81M $11.46M
YoY Change -5.65% 13.61%
Operating Profit $2.309M -$231.0K
YoY Change -1099.57% -120.57%
Interest Expense $20.00K -$40.00K
YoY Change -150.0% -1100.0%
% of Operating Profit 0.87%
Other Income/Expense, Net
YoY Change
Pretax Income $2.326M -$273.0K
YoY Change -952.01% -125.51%
Income Tax $957.0K -$66.00K
% Of Pretax Income 41.14%
Net Earnings $1.369M -$207.0K
YoY Change -761.35% -124.47%
Net Earnings / Revenue 7.23% -1.24%
Basic Earnings Per Share $0.08 -$0.01
Diluted Earnings Per Share $0.08 -$0.01
COMMON SHARES
Basic Shares Outstanding 17.42M shares 15.59M shares
Diluted Shares Outstanding 17.80M shares 15.59M shares

Balance Sheet

Concept 2015 Q1 2014 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $17.00M $12.50M
YoY Change 36.0% -18.3%
Cash & Equivalents $17.03M $12.50M
Short-Term Investments
Other Short-Term Assets $2.400M $3.200M
YoY Change -25.0% 14.29%
Inventory $16.46M $14.19M
Prepaid Expenses
Receivables $11.88M $10.49M
Other Receivables $0.00 $0.00
Total Short-Term Assets $47.80M $40.34M
YoY Change 18.5% 4.22%
LONG-TERM ASSETS
Property, Plant & Equipment $6.594M $5.807M
YoY Change 13.55% 7.54%
Goodwill $17.13M $15.03M
YoY Change 13.98%
Intangibles $6.619M $5.758M
YoY Change 14.95%
Long-Term Investments
YoY Change
Other Assets $168.0K $168.0K
YoY Change 0.0% -58.0%
Total Long-Term Assets $31.78M $28.38M
YoY Change 11.95% 15.85%
TOTAL ASSETS
Total Short-Term Assets $47.80M $40.34M
Total Long-Term Assets $31.78M $28.38M
Total Assets $79.57M $68.72M
YoY Change 15.8% 8.73%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.128M $1.040M
YoY Change 8.46% 15.56%
Accrued Expenses $6.023M $6.868M
YoY Change -12.3% 32.08%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $8.388M $8.709M
YoY Change -3.69% 10.24%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $341.0K $298.0K
YoY Change 14.43% -25.5%
Total Long-Term Liabilities $341.0K $298.0K
YoY Change 14.43% -25.5%
TOTAL LIABILITIES
Total Short-Term Liabilities $8.388M $8.709M
Total Long-Term Liabilities $341.0K $298.0K
Total Liabilities $11.65M $12.48M
YoY Change -6.7% 26.08%
SHAREHOLDERS EQUITY
Retained Earnings $3.917M -$874.0K
YoY Change -548.17%
Common Stock $189.0K $170.0K
YoY Change 11.18%
Preferred Stock
YoY Change
Treasury Stock (at cost) $8.259M $8.043M
YoY Change 2.69%
Treasury Stock Shares 1.408M shares 1.380M shares
Shareholders Equity $67.93M $56.24M
YoY Change
Total Liabilities & Shareholders Equity $79.57M $68.72M
YoY Change 15.8% 8.73%

Cashflow Statement

Concept 2015 Q1 2014 Q1
OPERATING ACTIVITIES
Net Income $1.369M -$207.0K
YoY Change -761.35% -124.47%
Depreciation, Depletion And Amortization $832.0K $831.0K
YoY Change 0.12% 36.23%
Cash From Operating Activities -$600.0K -$1.690M
YoY Change -64.5% 382.86%
INVESTING ACTIVITIES
Capital Expenditures $323.0K $433.0K
YoY Change -25.4% -35.95%
Acquisitions $138.0K $193.0K
YoY Change -28.5%
Other Investing Activities -$140.0K -$190.0K
YoY Change -26.32% 72.73%
Cash From Investing Activities -$460.0K -$640.0K
YoY Change -28.13% -20.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net -$319.0K $1.000K
YoY Change -32000.0% -98.89%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -380.0K 120.0K
YoY Change -416.67% 50.0%
NET CHANGE
Cash From Operating Activities -600.0K -1.690M
Cash From Investing Activities -460.0K -640.0K
Cash From Financing Activities -380.0K 120.0K
Net Change In Cash -1.440M -2.210M
YoY Change -34.84% 106.54%
FREE CASH FLOW
Cash From Operating Activities -$600.0K -$1.690M
Capital Expenditures $323.0K $433.0K
Free Cash Flow -$923.0K -$2.123M
YoY Change -56.52% 106.92%

Facts In Submission

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LEMAITRE VASCULAR INC
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CY2015Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.040
CY2015Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2015Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
277000 shares
CY2015Q1 us-gaap Dividends Payable Date Of Record Day Month And Year
DividendsPayableDateOfRecordDayMonthAndYear
2015-05-22
CY2015Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
700000
CY2015Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
2309000
CY2015Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-1596000
CY2015Q1 us-gaap Sales Revenue Net
SalesRevenueNet
18947000
CY2015Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
165000
CY2015Q1 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
395000
CY2015Q1 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
138000
CY2015Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
17422000 shares
CY2015Q1 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
0
CY2015Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-1596000
CY2015Q1 us-gaap Gross Profit
GrossProfit
13117000
CY2015Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
695000
CY2015Q1 us-gaap Foreign Currency Transaction Gain Loss Unrealized
ForeignCurrencyTransactionGainLossUnrealized
-19000
CY2015Q1 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
17000
CY2015Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-227000
CY2015Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
2326000
CY2015Q1 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
49000
CY2015Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
6000
CY2015Q1 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
-1596000
CY2015Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
323000
CY2015Q1 us-gaap Net Income Loss
NetIncomeLoss
1369000
CY2015Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
1656000
CY2015Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
832000
CY2015Q1 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
-225000
CY2015Q1 us-gaap Operating Expenses
OperatingExpenses
10808000
CY2015Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Reclassification Adjustment From Aoci Realized Upon Sale Or Liquidation Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationReclassificationAdjustmentFromAOCIRealizedUponSaleOrLiquidationNetOfTax
0
CY2015Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1152000
CY2015Q1 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
5858000
CY2015Q1 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
0
CY2015Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
52000
CY2015Q1 us-gaap Restructuring Charges
RestructuringCharges
0
CY2015Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-1667000
CY2015Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
957000
CY2015Q1 us-gaap Cost Of Goods Sold
CostOfGoodsSold
5830000
CY2015Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
379000
CY2015Q1 us-gaap Share Based Compensation
ShareBasedCompensation
328000
CY2015Q1 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
0
CY2015Q1 us-gaap Dividends Cash
DividendsCash
700000
CY2015Q1 us-gaap Goodwill Translation Adjustments
GoodwillTranslationAdjustments
-149000
CY2015Q1 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-381000
CY2015Q1 us-gaap Inventory Write Down
InventoryWriteDown
139000
CY2015Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-461000
CY2015Q1 us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
325000
CY2015Q1 us-gaap Excise And Sales Taxes
ExciseAndSalesTaxes
181000
CY2015Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
3617000
CY2015Q1 us-gaap Increase Decrease In Accounts Payable And Other Operating Liabilities
IncreaseDecreaseInAccountsPayableAndOtherOperatingLiabilities
-1123000
CY2015Q1 us-gaap Severance Costs1
SeveranceCosts1
400000
CY2015Q1 lmat Statute Of Limitation Expiration Period
StatuteOfLimitationExpirationPeriod
Until 2024
CY2015Q1 lmat Purchase Commitments Inventory Expire Year
PurchaseCommitmentsInventoryExpireYear
2016
CY2014Q2 us-gaap Severance Costs1
SeveranceCosts1
100000

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