$LMAT
LEMAITRE VASCULAR INC

2015 Q2 Form 10-Q Financial Statement

#000119312515280242 Filed on August 06, 2015

View on sec.gov

Income Statement

Concept 2015 Q2 2014 Q2
Revenue $19.90M $18.16M
YoY Change 9.56% 13.85%
Cost Of Revenue $6.767M $5.785M
YoY Change 16.97% 22.72%
Gross Profit $13.13M $12.38M
YoY Change 6.09% 10.14%
Gross Profit Margin 65.99% 68.15%
Selling, General & Admin $8.822M $8.833M
YoY Change -0.12% 5.51%
% of Gross Profit 67.19% 71.37%
Research & Development $1.331M $1.137M
YoY Change 17.06% -10.33%
% of Gross Profit 10.14% 9.19%
Depreciation & Amortization $840.0K $790.0K
YoY Change 6.33% 23.44%
% of Gross Profit 6.4% 6.38%
Operating Expenses $10.34M $10.40M
YoY Change -0.58% 6.19%
Operating Profit $2.794M $1.980M
YoY Change 41.11% 36.83%
Interest Expense $30.00K $0.00
YoY Change -100.0%
% of Operating Profit 1.07% 0.0%
Other Income/Expense, Net
YoY Change
Pretax Income $2.824M $2.000M
YoY Change 41.2% 45.45%
Income Tax $1.057M $728.0K
% Of Pretax Income 37.43% 36.4%
Net Earnings $1.767M $1.272M
YoY Change 38.92% 43.08%
Net Earnings / Revenue 8.88% 7.0%
Basic Earnings Per Share $0.10 $0.08
Diluted Earnings Per Share $0.10 $0.08
COMMON SHARES
Basic Shares Outstanding 17.58M shares 16.11M shares
Diluted Shares Outstanding 18.07M shares 16.55M shares

Balance Sheet

Concept 2015 Q2 2014 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $19.40M $23.50M
YoY Change -17.45% 57.72%
Cash & Equivalents $19.43M $23.51M
Short-Term Investments
Other Short-Term Assets $2.900M $3.100M
YoY Change -6.45% 19.23%
Inventory $15.78M $15.00M
Prepaid Expenses
Receivables $12.24M $11.37M
Other Receivables $0.00 $0.00
Total Short-Term Assets $50.31M $53.00M
YoY Change -5.08% 36.6%
LONG-TERM ASSETS
Property, Plant & Equipment $6.610M $5.474M
YoY Change 20.75% -5.62%
Goodwill $17.90M $15.03M
YoY Change 19.09%
Intangibles $6.941M $5.250M
YoY Change 32.21%
Long-Term Investments
YoY Change
Other Assets $168.0K $169.0K
YoY Change -0.59% -57.75%
Total Long-Term Assets $32.93M $27.53M
YoY Change 19.59% 10.58%
TOTAL ASSETS
Total Short-Term Assets $50.31M $53.00M
Total Long-Term Assets $32.93M $27.53M
Total Assets $83.24M $80.54M
YoY Change 3.35% 26.43%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.293M $1.021M
YoY Change 26.64% 2.1%
Accrued Expenses $6.595M $6.960M
YoY Change -5.24% 36.47%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $9.239M $9.012M
YoY Change 2.52% 20.16%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $641.0K $265.0K
YoY Change 141.89% -33.75%
Total Long-Term Liabilities $641.0K $265.0K
YoY Change 141.89% -33.75%
TOTAL LIABILITIES
Total Short-Term Liabilities $9.239M $9.012M
Total Long-Term Liabilities $641.0K $265.0K
Total Liabilities $12.80M $12.75M
YoY Change 0.35% 34.24%
SHAREHOLDERS EQUITY
Retained Earnings $4.979M $398.0K
YoY Change 1151.01%
Common Stock $191.0K $187.0K
YoY Change 2.14%
Preferred Stock
YoY Change
Treasury Stock (at cost) $8.259M $8.049M
YoY Change 2.61%
Treasury Stock Shares 1.408M shares 1.381M shares
Shareholders Equity $70.44M $67.78M
YoY Change
Total Liabilities & Shareholders Equity $83.24M $80.54M
YoY Change 3.35% 26.43%

Cashflow Statement

Concept 2015 Q2 2014 Q2
OPERATING ACTIVITIES
Net Income $1.767M $1.272M
YoY Change 38.92% 43.08%
Depreciation, Depletion And Amortization $840.0K $790.0K
YoY Change 6.33% 23.44%
Cash From Operating Activities $3.900M $1.620M
YoY Change 140.74% -18.59%
INVESTING ACTIVITIES
Capital Expenditures -$470.0K -$110.0K
YoY Change 327.27% -92.67%
Acquisitions
YoY Change
Other Investing Activities -$1.110M $0.00
YoY Change
Cash From Investing Activities -$1.590M -$110.0K
YoY Change 1345.45% -92.62%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $10.50M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 30.00K 9.490M
YoY Change -99.68% -1142.86%
NET CHANGE
Cash From Operating Activities 3.900M 1.620M
Cash From Investing Activities -1.590M -110.0K
Cash From Financing Activities 30.00K 9.490M
Net Change In Cash 2.340M 11.00M
YoY Change -78.73% -2782.93%
FREE CASH FLOW
Cash From Operating Activities $3.900M $1.620M
Capital Expenditures -$470.0K -$110.0K
Free Cash Flow $4.370M $1.730M
YoY Change 152.6% -50.43%

Facts In Submission

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LEMAITRE VASCULAR INC
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PaymentsToAcquirePropertyPlantAndEquipment
793000
us-gaap Net Income Loss
NetIncomeLoss
3136000
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-1160000
us-gaap Sales Revenue Net
SalesRevenueNet
38844000
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
1405000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
552000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
6000
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
1268000
us-gaap Operating Income Loss
OperatingIncomeLoss
5103000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-351000
us-gaap Gross Profit
GrossProfit
26247000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
1849000
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
-1160000
us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
43000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
1976000
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-1160000
us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
0
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
5150000
us-gaap Investment Income Interest
InvestmentIncomeInterest
4000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
1742000
us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
50000
us-gaap Foreign Currency Transaction Gain Loss Unrealized
ForeignCurrencyTransactionGainLossUnrealized
13000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2014000
us-gaap Share Based Compensation
ShareBasedCompensation
609000
us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
0
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
11376000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
738000
us-gaap Operating Expenses
OperatingExpenses
21144000
us-gaap Restructuring Charges
RestructuringCharges
0
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-2046000
us-gaap Goodwill Translation Adjustments
GoodwillTranslationAdjustments
-123000
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-353000
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
2484000
us-gaap Excise And Sales Taxes
ExciseAndSalesTaxes
363000
us-gaap Proceeds From Sale Of Machinery And Equipment
ProceedsFromSaleOfMachineryAndEquipment
15000
us-gaap Inventory Write Down
InventoryWriteDown
310000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
6921000
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
-165000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
748000
us-gaap Cost Of Goods Sold
CostOfGoodsSold
12597000
us-gaap Increase Decrease In Accounts Payable And Other Operating Liabilities
IncreaseDecreaseInAccountsPayableAndOtherOperatingLiabilities
-418000
us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
1058000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1672000
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
us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
0
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
56000
us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
742000
lmat Statute Of Limitation Expiration Period
StatuteOfLimitationExpirationPeriod
Until 2024
lmat Purchase Commitments Inventory Expire Year
PurchaseCommitmentsInventoryExpireYear
2016
CY2014Q1 us-gaap Restructuring And Related Cost Number Of Positions Eliminated Period Percent
RestructuringAndRelatedCostNumberOfPositionsEliminatedPeriodPercent
0.10 pure
CY2014Q2 us-gaap Restructuring And Related Cost Number Of Positions Eliminated
RestructuringAndRelatedCostNumberOfPositionsEliminated
7 Employees
CY2015Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.10
CY2015Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
59000 shares
CY2015Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
483000 shares
CY2015Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.040
CY2015Q2 us-gaap Cost Of Goods Sold
CostOfGoodsSold
6767000
CY2014Q1 us-gaap Payments For Restructuring
PaymentsForRestructuring
100000
CY2015Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
18065000 shares
CY2015Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
17582000 shares
CY2015Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.10
CY2015Q2 us-gaap Net Income Loss
NetIncomeLoss
1767000
CY2015Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
436000
CY2015Q2 us-gaap Sales Revenue Net
SalesRevenueNet
19897000
CY2015Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
2794000
CY2015Q2 us-gaap Gross Profit
GrossProfit
13130000
CY2015Q2 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
26000
CY2015Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
2203000
CY2015Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
436000
CY2015Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
2824000
CY2015Q2 us-gaap Investment Income Interest
InvestmentIncomeInterest
4000
CY2015Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1057000
CY2015Q2 us-gaap Share Based Compensation
ShareBasedCompensation
281000
CY2015Q2 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
5519000
CY2015Q2 us-gaap Operating Expenses
OperatingExpenses
10336000
CY2015Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1331000
CY2015Q2 us-gaap Excise And Sales Taxes
ExciseAndSalesTaxes
183000
CY2015Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
3303000
CY2015Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
369000
CY2014Q1 us-gaap Severance Costs1
SeveranceCosts1
400000
CY2014Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.08
CY2014Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
182000 shares
CY2014Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
432000 shares
CY2014Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.035
CY2014Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
16545000 shares
CY2014Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
16113000 shares
CY2014Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.08
CY2014Q2 us-gaap Net Income Loss
NetIncomeLoss
1272000
CY2014Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-24000
CY2014Q2 us-gaap Sales Revenue Net
SalesRevenueNet
18161000
CY2014Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
1980000
CY2014Q2 us-gaap Gross Profit
GrossProfit
12376000
CY2014Q2 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
20000
CY2014Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
1248000
CY2014Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-24000
CY2014Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
2000000
CY2014Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
728000
CY2014Q2 us-gaap Share Based Compensation
ShareBasedCompensation
265000
CY2014Q2 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
5537000
CY2014Q2 us-gaap Cost Of Goods Sold
CostOfGoodsSold
5785000
CY2014Q2 us-gaap Operating Expenses
OperatingExpenses
10396000
CY2014Q2 us-gaap Restructuring Charges
RestructuringCharges
89000
CY2014Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1137000
CY2014Q2 us-gaap Excise And Sales Taxes
ExciseAndSalesTaxes
176000
CY2014Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
340000
CY2014Q2 us-gaap Severance Costs1
SeveranceCosts1
100000
CY2014Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
3296000
CY2014Q2 us-gaap Asset Impairment Charges
AssetImpairmentCharges
161000

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