$LMAT
LEMAITRE VASCULAR INC

2016 Q1 Form 10-Q Financial Statement

#000119312516581589 Filed on May 06, 2016

View on sec.gov

Income Statement

Concept 2016 Q1 2015 Q1
Revenue $20.26M $18.95M
YoY Change 6.92% 13.09%
Cost Of Revenue $5.902M $5.830M
YoY Change 1.23% 5.42%
Gross Profit $14.36M $13.12M
YoY Change 9.45% 16.87%
Gross Profit Margin 70.87% 69.23%
Selling, General & Admin $9.610M $9.475M
YoY Change 1.42% -0.72%
% of Gross Profit 66.94% 72.23%
Research & Development $1.446M $1.152M
YoY Change 25.52% -14.29%
% of Gross Profit 10.07% 8.78%
Depreciation & Amortization $881.0K $832.0K
YoY Change 5.89% 0.12%
% of Gross Profit 6.14% 6.34%
Operating Expenses $11.06M $10.81M
YoY Change 2.29% -5.65%
Operating Profit $3.300M $2.309M
YoY Change 42.92% -1099.57%
Interest Expense $0.00 $20.00K
YoY Change -100.0% -150.0%
% of Operating Profit 0.0% 0.87%
Other Income/Expense, Net
YoY Change
Pretax Income $3.265M $2.326M
YoY Change 40.37% -952.01%
Income Tax $1.099M $957.0K
% Of Pretax Income 33.66% 41.14%
Net Earnings $2.166M $1.369M
YoY Change 58.22% -761.35%
Net Earnings / Revenue 10.69% 7.23%
Basic Earnings Per Share $0.12 $0.08
Diluted Earnings Per Share $0.11 $0.08
COMMON SHARES
Basic Shares Outstanding 18.34M shares 17.42M shares
Diluted Shares Outstanding 18.86M shares 17.80M shares

Balance Sheet

Concept 2016 Q1 2015 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $25.90M $17.00M
YoY Change 52.35% 36.0%
Cash & Equivalents $25.94M $17.03M
Short-Term Investments
Other Short-Term Assets $2.900M $2.400M
YoY Change 20.83% -25.0%
Inventory $17.90M $16.46M
Prepaid Expenses
Receivables $13.02M $11.88M
Other Receivables $0.00 $0.00
Total Short-Term Assets $59.74M $47.80M
YoY Change 24.99% 18.5%
LONG-TERM ASSETS
Property, Plant & Equipment $7.355M $6.594M
YoY Change 11.54% 13.55%
Goodwill $18.19M $17.13M
YoY Change 6.19% 13.98%
Intangibles $6.660M $6.619M
YoY Change 0.62% 14.95%
Long-Term Investments
YoY Change
Other Assets $170.0K $168.0K
YoY Change 1.19% 0.0%
Total Long-Term Assets $33.64M $31.78M
YoY Change 5.87% 11.95%
TOTAL ASSETS
Total Short-Term Assets $59.74M $47.80M
Total Long-Term Assets $33.64M $31.78M
Total Assets $93.38M $79.57M
YoY Change 17.36% 15.8%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.773M $1.128M
YoY Change 57.18% 8.46%
Accrued Expenses $7.668M $6.023M
YoY Change 27.31% -12.3%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $10.16M $8.388M
YoY Change 21.17% -3.69%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $916.0K $341.0K
YoY Change 168.62% 14.43%
Total Long-Term Liabilities $916.0K $341.0K
YoY Change 168.62% 14.43%
TOTAL LIABILITIES
Total Short-Term Liabilities $10.16M $8.388M
Total Long-Term Liabilities $916.0K $341.0K
Total Liabilities $12.76M $11.65M
YoY Change 9.57% -6.7%
SHAREHOLDERS EQUITY
Retained Earnings $9.502M $3.917M
YoY Change 142.58% -548.17%
Common Stock $198.0K $189.0K
YoY Change 4.76% 11.18%
Preferred Stock
YoY Change
Treasury Stock (at cost) $8.519M $8.259M
YoY Change 3.15% 2.69%
Treasury Stock Shares 1.431M shares 1.408M shares
Shareholders Equity $80.62M $67.93M
YoY Change
Total Liabilities & Shareholders Equity $93.38M $79.57M
YoY Change 17.36% 15.8%

Cashflow Statement

Concept 2016 Q1 2015 Q1
OPERATING ACTIVITIES
Net Income $2.166M $1.369M
YoY Change 58.22% -761.35%
Depreciation, Depletion And Amortization $881.0K $832.0K
YoY Change 5.89% 0.12%
Cash From Operating Activities $1.260M -$600.0K
YoY Change -310.0% -64.5%
INVESTING ACTIVITIES
Capital Expenditures $720.0K $323.0K
YoY Change 122.91% -25.4%
Acquisitions $2.382M $138.0K
YoY Change 1626.09% -28.5%
Other Investing Activities -$2.380M -$140.0K
YoY Change 1600.0% -26.32%
Cash From Investing Activities -$3.100M -$460.0K
YoY Change 573.91% -28.13%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $141.0K -$319.0K
YoY Change -144.2% -32000.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 140.0K -380.0K
YoY Change -136.84% -416.67%
NET CHANGE
Cash From Operating Activities 1.260M -600.0K
Cash From Investing Activities -3.100M -460.0K
Cash From Financing Activities 140.0K -380.0K
Net Change In Cash -1.700M -1.440M
YoY Change 18.06% -34.84%
FREE CASH FLOW
Cash From Operating Activities $1.260M -$600.0K
Capital Expenditures $720.0K $323.0K
Free Cash Flow $540.0K -$923.0K
YoY Change -158.5% -56.52%

Facts In Submission

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20258000
CY2016Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
825000
CY2016Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
929000
CY2016Q1 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-50000
CY2016Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
3095000
CY2016Q1 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
0
CY2016Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
3265000
CY2016Q1 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
929000
CY2016Q1 us-gaap Investment Income Interest
InvestmentIncomeInterest
15000
CY2016Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
108000
CY2016Q1 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
82000
CY2016Q1 us-gaap Foreign Currency Transaction Gain Loss Unrealized
ForeignCurrencyTransactionGainLossUnrealized
-4000
CY2016Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1099000
CY2016Q1 us-gaap Share Based Compensation
ShareBasedCompensation
330000
CY2016Q1 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
0
CY2016Q1 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
6273000
CY2016Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-1510000
CY2016Q1 us-gaap Operating Expenses
OperatingExpenses
11056000
CY2016Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-3102000
CY2016Q1 us-gaap Goodwill Translation Adjustments
GoodwillTranslationAdjustments
99000
CY2016Q1 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
141000
CY2016Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1446000
CY2016Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
141000
CY2016Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
330000
CY2016Q1 us-gaap Inventory Write Down
InventoryWriteDown
36000
CY2016Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
3337000
CY2016Q1 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
193000
CY2016Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
380000
CY2016Q1 us-gaap Cost Of Goods Sold
CostOfGoodsSold
5902000
CY2016Q1 us-gaap Increase Decrease In Accounts Payable And Other Operating Liabilities
IncreaseDecreaseInAccountsPayableAndOtherOperatingLiabilities
-1821000
CY2016Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
881000
CY2016Q1 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
0
CY2016Q1 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
304000
CY2016Q1 lmat Statute Of Limitation Expiration Period
StatuteOfLimitationExpirationPeriod
Until 2025
CY2016Q1 lmat Purchase Commitments Inventory Expire Year
PurchaseCommitmentsInventoryExpireYear
2017
CY2016Q1 lmat Provision Recovery For Doubtful Accounts
ProvisionRecoveryForDoubtfulAccounts
52000

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