$LMAT
LEMAITRE VASCULAR INC

2016 Q2 Form 10-Q Financial Statement

#000119312516673023 Filed on August 05, 2016

View on sec.gov

Income Statement

Concept 2016 Q2 2015 Q2
Revenue $22.39M $19.90M
YoY Change 12.52% 9.56%
Cost Of Revenue $7.022M $6.767M
YoY Change 3.77% 16.97%
Gross Profit $15.37M $13.13M
YoY Change 17.04% 6.09%
Gross Profit Margin 68.64% 65.99%
Selling, General & Admin $9.950M $8.822M
YoY Change 12.79% -0.12%
% of Gross Profit 64.75% 67.19%
Research & Development $1.634M $1.331M
YoY Change 22.76% 17.06%
% of Gross Profit 10.63% 10.14%
Depreciation & Amortization $930.0K $840.0K
YoY Change 10.71% 6.33%
% of Gross Profit 6.05% 6.4%
Operating Expenses $11.58M $10.34M
YoY Change 12.07% -0.58%
Operating Profit $3.783M $2.794M
YoY Change 35.4% 41.11%
Interest Expense $50.00K $30.00K
YoY Change 66.67%
% of Operating Profit 1.32% 1.07%
Other Income/Expense, Net
YoY Change
Pretax Income $3.836M $2.824M
YoY Change 35.84% 41.2%
Income Tax $1.238M $1.057M
% Of Pretax Income 32.27% 37.43%
Net Earnings $2.598M $1.767M
YoY Change 47.03% 38.92%
Net Earnings / Revenue 11.6% 8.88%
Basic Earnings Per Share $0.14 $0.10
Diluted Earnings Per Share $0.14 $0.10
COMMON SHARES
Basic Shares Outstanding 18.41M shares 17.58M shares
Diluted Shares Outstanding 18.98M shares 18.07M shares

Balance Sheet

Concept 2016 Q2 2015 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $29.30M $19.40M
YoY Change 51.03% -17.45%
Cash & Equivalents $29.32M $19.43M
Short-Term Investments
Other Short-Term Assets $3.300M $2.900M
YoY Change 13.79% -6.45%
Inventory $16.96M $15.78M
Prepaid Expenses
Receivables $12.84M $12.24M
Other Receivables $0.00 $0.00
Total Short-Term Assets $62.42M $50.31M
YoY Change 24.08% -5.08%
LONG-TERM ASSETS
Property, Plant & Equipment $7.324M $6.610M
YoY Change 10.8% 20.75%
Goodwill $18.15M $17.90M
YoY Change 1.4% 19.09%
Intangibles $6.211M $6.941M
YoY Change -10.52% 32.21%
Long-Term Investments
YoY Change
Other Assets $177.0K $168.0K
YoY Change 5.36% -0.59%
Total Long-Term Assets $33.11M $32.93M
YoY Change 0.54% 19.59%
TOTAL ASSETS
Total Short-Term Assets $62.42M $50.31M
Total Long-Term Assets $33.11M $32.93M
Total Assets $95.53M $83.24M
YoY Change 14.77% 3.35%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.550M $1.293M
YoY Change 19.88% 26.64%
Accrued Expenses $7.810M $6.595M
YoY Change 18.42% -5.24%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $10.14M $9.239M
YoY Change 9.71% 2.52%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $864.0K $641.0K
YoY Change 34.79% 141.89%
Total Long-Term Liabilities $864.0K $641.0K
YoY Change 34.79% 141.89%
TOTAL LIABILITIES
Total Short-Term Liabilities $10.14M $9.239M
Total Long-Term Liabilities $864.0K $641.0K
Total Liabilities $12.68M $12.80M
YoY Change -0.93% 0.35%
SHAREHOLDERS EQUITY
Retained Earnings $11.27M $4.979M
YoY Change 126.39% 1151.01%
Common Stock $199.0K $191.0K
YoY Change 4.19% 2.14%
Preferred Stock
YoY Change
Treasury Stock (at cost) $8.521M $8.259M
YoY Change 3.17% 2.61%
Treasury Stock Shares 1.431M shares 1.408M shares
Shareholders Equity $82.85M $70.44M
YoY Change
Total Liabilities & Shareholders Equity $95.53M $83.24M
YoY Change 14.77% 3.35%

Cashflow Statement

Concept 2016 Q2 2015 Q2
OPERATING ACTIVITIES
Net Income $2.598M $1.767M
YoY Change 47.03% 38.92%
Depreciation, Depletion And Amortization $930.0K $840.0K
YoY Change 10.71% 6.33%
Cash From Operating Activities $5.090M $3.900M
YoY Change 30.51% 140.74%
INVESTING ACTIVITIES
Capital Expenditures -$540.0K -$470.0K
YoY Change 14.89% 327.27%
Acquisitions
YoY Change
Other Investing Activities $10.00K -$1.110M
YoY Change -100.9%
Cash From Investing Activities -$530.0K -$1.590M
YoY Change -66.67% 1345.45%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.170M 30.00K
YoY Change -4000.0% -99.68%
NET CHANGE
Cash From Operating Activities 5.090M 3.900M
Cash From Investing Activities -530.0K -1.590M
Cash From Financing Activities -1.170M 30.00K
Net Change In Cash 3.390M 2.340M
YoY Change 44.87% -78.73%
FREE CASH FLOW
Cash From Operating Activities $5.090M $3.900M
Capital Expenditures -$540.0K -$470.0K
Free Cash Flow $5.630M $4.370M
YoY Change 28.83% 152.6%

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31000
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
524000
us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
0
us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
44000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
18372000 shares
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2337000
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
6352000
us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
318000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
670000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
14.38
dei Trading Symbol
TradingSymbol
LMAT
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
18926000 shares
us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
0
us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
0
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
3080000
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
554000 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0 shares
us-gaap Stock Issued During Period Shares Share Based Compensation
StockIssuedDuringPeriodSharesShareBasedCompensation
140000 shares
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
12812000
us-gaap Share Based Compensation
ShareBasedCompensation
662000
us-gaap Stock Repurchase Program Expiration Date
StockRepurchaseProgramExpirationDate
2017-07-25
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 Segment
lmat Statute Of Limitation Expiration Period
StatuteOfLimitationExpirationPeriod
Until 2025
lmat Payments To Acquire Property Plant Equipment And Other Assets
PaymentsToAcquirePropertyPlantEquipmentAndOtherAssets
1264000
lmat Purchase Commitments Inventory Expire Year
PurchaseCommitmentsInventoryExpireYear
2017
lmat Provision Recovery For Doubtful Accounts
ProvisionRecoveryForDoubtfulAccounts
48000
CY2016Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
332000
CY2016Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.045
CY2016Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
3411000
CY2016Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.14
CY2016Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.14
CY2016Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
2193000
CY2016Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
405000
CY2016Q2 us-gaap Cost Of Goods Sold
CostOfGoodsSold
7022000
CY2016Q2 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
37000
CY2016Q2 us-gaap Sales Revenue Net
SalesRevenueNet
22389000
CY2016Q2 us-gaap Gross Profit
GrossProfit
15367000
CY2016Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-405000
CY2016Q2 us-gaap Operating Expenses
OperatingExpenses
11584000
CY2016Q2 us-gaap Net Income Loss
NetIncomeLoss
2598000
CY2016Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
3836000
CY2016Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
3783000
CY2016Q2 us-gaap Investment Income Interest
InvestmentIncomeInterest
16000
CY2016Q2 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-405000
CY2016Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1238000
CY2016Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
18978000 shares
CY2016Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
570000 shares
CY2016Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
18408000 shares
CY2016Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1634000
CY2016Q2 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
6539000
CY2016Q2 us-gaap Share Based Compensation
ShareBasedCompensation
332000
CY2015Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
59000 shares
CY2015Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
281000
CY2015Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.040
CY2015Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
3303000
CY2015Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.10
CY2015Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.10
CY2015Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
2203000
CY2015Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
369000
CY2015Q2 us-gaap Cost Of Goods Sold
CostOfGoodsSold
6767000
CY2015Q2 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
26000
CY2015Q2 us-gaap Excise And Sales Taxes
ExciseAndSalesTaxes
183000
CY2015Q2 us-gaap Sales Revenue Net
SalesRevenueNet
19897000
CY2015Q2 us-gaap Gross Profit
GrossProfit
13130000
CY2015Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
436000
CY2015Q2 us-gaap Operating Expenses
OperatingExpenses
10336000
CY2015Q2 us-gaap Net Income Loss
NetIncomeLoss
1767000
CY2015Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
2824000
CY2015Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
2794000
CY2015Q2 us-gaap Investment Income Interest
InvestmentIncomeInterest
4000
CY2015Q2 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
436000
CY2015Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1057000
CY2015Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
18065000 shares
CY2015Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
483000 shares
CY2015Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
17582000 shares
CY2015Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1331000
CY2015Q2 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
5519000
CY2015Q2 us-gaap Share Based Compensation
ShareBasedCompensation
281000

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