$LMAT
LEMAITRE VASCULAR INC

2016 Form 10-K Financial Statement

#000119312517074936 Filed on March 09, 2017

View on sec.gov

Income Statement

Concept 2016 2015 Q4 2015 Q3
Revenue $89.15M $20.48M $19.03M
YoY Change 13.78% 9.65% 8.71%
Cost Of Revenue $26.22M $6.080M $5.509M
YoY Change 8.39% 3.93% 0.2%
Gross Profit $62.94M $14.40M $13.52M
YoY Change 16.19% 12.28% 12.61%
Gross Profit Margin 70.59% 70.32% 71.04%
Selling, General & Admin $40.46M $9.360M $8.944M
YoY Change 9.97% 10.51% 0.99%
% of Gross Profit 64.29% 64.99% 66.17%
Research & Development $6.141M $1.580M $1.421M
YoY Change 12.08% 46.3% 28.13%
% of Gross Profit 9.76% 10.97% 10.51%
Depreciation & Amortization $3.591M $890.0K $830.0K
YoY Change 5.8% -2.2% 3.75%
% of Gross Profit 5.71% 6.18% 6.14%
Operating Expenses $46.60M $11.31M $10.20M
YoY Change 9.25% 13.1% 0.43%
Operating Profit $16.34M $3.093M $3.321M
YoY Change 41.89% 9.37% 79.32%
Interest Expense $14.00K $50.00K -$180.0K
YoY Change -114.0% -200.0% -3100.0%
% of Operating Profit 0.09% 1.62% -5.42%
Other Income/Expense, Net
YoY Change
Pretax Income $16.24M $3.140M $3.139M
YoY Change 42.17% 16.73% 65.3%
Income Tax $5.652M $610.0K $1.047M
% Of Pretax Income 34.8% 19.43% 33.35%
Net Earnings $10.59M $2.530M $2.092M
YoY Change 36.5% 32.05% 123.98%
Net Earnings / Revenue 11.88% 12.35% 11.0%
Basic Earnings Per Share $0.57 $0.14 $0.12
Diluted Earnings Per Share $0.55 $0.13 $0.11
COMMON SHARES
Basic Shares Outstanding 18.49M 18.12M shares 17.87M shares
Diluted Shares Outstanding 19.24M 18.50M shares

Balance Sheet

Concept 2016 2015 Q4 2015 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $24.30M $27.50M $23.60M
YoY Change -11.64% 47.06% 28.26%
Cash & Equivalents $24.30M $27.45M $23.63M
Short-Term Investments
Other Short-Term Assets $4.600M $3.600M $3.100M
YoY Change 27.78% 50.0% -13.89%
Inventory $17.00M $15.21M $15.92M
Prepaid Expenses
Receivables $13.20M $11.97M $11.34M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $59.00M $58.18M $53.98M
YoY Change 1.37% 19.75% 9.19%
LONG-TERM ASSETS
Property, Plant & Equipment $8.000M $7.022M $6.788M
YoY Change 14.29% 2.09% -5.67%
Goodwill $17.79M $17.72M
YoY Change 2.94% 1.58%
Intangibles $6.336M $6.656M
YoY Change -11.47% -12.82%
Long-Term Investments
YoY Change
Other Assets $1.600M $168.0K $168.0K
YoY Change 14.29% -1.18% -3.45%
Total Long-Term Assets $42.90M $32.52M $32.64M
YoY Change 32.0% -1.17% -4.2%
TOTAL ASSETS
Total Short-Term Assets $59.00M $58.18M $53.98M
Total Long-Term Assets $42.90M $32.52M $32.64M
Total Assets $101.9M $90.70M $86.61M
YoY Change 12.35% 11.3% 3.73%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.200M $1.366M $931.0K
YoY Change -14.29% 21.21% -8.81%
Accrued Expenses $8.500M $8.837M $7.598M
YoY Change 1.19% 18.16% -12.36%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $10.50M $10.37M $8.833M
YoY Change 0.96% 3.26% -29.79%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $2.000M $774.0K $676.0K
YoY Change 150.0% 138.15% 69.0%
Total Long-Term Liabilities $2.000M $774.0K $676.0K
YoY Change 150.0% 138.15% 69.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $10.50M $10.37M $8.833M
Total Long-Term Liabilities $2.000M $774.0K $676.0K
Total Liabilities $14.40M $12.82M $12.43M
YoY Change 12.5% -3.5% -24.14%
SHAREHOLDERS EQUITY
Retained Earnings $8.161M $6.356M
YoY Change 151.26% 377.18%
Common Stock $197.0K $195.0K
YoY Change 4.79% 3.72%
Preferred Stock
YoY Change
Treasury Stock (at cost) $8.519M $8.520M
YoY Change 3.22% 3.24%
Treasury Stock Shares 1.431M shares 1.431M shares
Shareholders Equity $87.50M $77.88M $74.19M
YoY Change
Total Liabilities & Shareholders Equity $101.9M $90.70M $86.61M
YoY Change 12.35% 11.3% 3.73%

Cashflow Statement

Concept 2016 2015 Q4 2015 Q3
OPERATING ACTIVITIES
Net Income $10.59M $2.530M $2.092M
YoY Change 36.5% 32.05% 123.98%
Depreciation, Depletion And Amortization $3.591M $890.0K $830.0K
YoY Change 5.8% -2.2% 3.75%
Cash From Operating Activities $16.90M $3.930M $4.210M
YoY Change 47.69% 46.64% 45.17%
INVESTING ACTIVITIES
Capital Expenditures $2.841M -$730.0K -$770.0K
YoY Change 24.99% 78.05% 250.0%
Acquisitions $14.37M
YoY Change 818.08%
Other Investing Activities -$14.37M -$140.0K $200.0K
YoY Change 1107.56% -85.71% -103.71%
Cash From Investing Activities -$17.21M -$860.0K -$570.0K
YoY Change 394.57% -38.13% -89.84%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net -$1.131M
YoY Change -75.25%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -2.577M 850.0K 580.0K
YoY Change -338.61% -207.59% -126.85%
NET CHANGE
Cash From Operating Activities 16.90M 3.930M 4.210M
Cash From Investing Activities -17.21M -860.0K -570.0K
Cash From Financing Activities -2.577M 850.0K 580.0K
Net Change In Cash -2.892M 3.920M 4.220M
YoY Change -131.99% 684.0% -186.65%
FREE CASH FLOW
Cash From Operating Activities $16.90M $3.930M $4.210M
Capital Expenditures $2.841M -$730.0K -$770.0K
Free Cash Flow $14.06M $4.660M $4.980M
YoY Change 53.32% 50.81% 59.62%

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400000
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
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10.25
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312000
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1745953 shares
CY2016Q4 us-gaap Treasury Stock Shares
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1970000
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1339477 shares
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11.47
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1979501 shares
CY2016Q4 lmat Contractual Obligation Due In Three To Five Years
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2217000
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2217000
CY2016Q4 lmat Deferred Tax Liabilities Foreign Branch Deferred Offset
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1374000
CY2016Q4 lmat Acquisition Related Obligations
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461000
CY2016Q4 lmat Purchase Obligation Due In Three To Five Years
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0
CY2016Q4 lmat Contractual Obligation Due In One To Three Years
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2728000
CY2016Q4 lmat Purchase Obligation Due In One To Three Years
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25000
CY2016Q4 lmat Deferred Tax Assets Liabilities Net Before Valuation Allowances
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1223000
CY2016Q4 lmat Operating Leases Future Minimum Payments Due In One To Three Years
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2703000
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3000000 shares
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237000
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462000
CY2014 us-gaap Current Federal Tax Expense Benefit
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CY2014 us-gaap Current Income Tax Expense Benefit
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238000
CY2014 us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
225000
CY2014 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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277000 shares
CY2014 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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1302000
CY2014 us-gaap Cash And Cash Equivalents Period Increase Decrease
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3981000
CY2014 us-gaap Deferred Foreign Income Tax Expense Benefit
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118000
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CY2014 us-gaap Allocated Share Based Compensation Expense
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0.001 pure
CY2014 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
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0.024 pure
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CY2014 us-gaap Deferred State And Local Income Tax Expense Benefit
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CY2014 us-gaap Current Foreign Tax Expense Benefit
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181000
CY2014 us-gaap Common Stock Dividends Per Share Declared
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CY2014 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
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CY2014 us-gaap Asset Impairment Charges
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229000
CY2014 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Earnings
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138000
CY2014 us-gaap Depreciation
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1795000
CY2014 us-gaap Depreciation Depletion And Amortization
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3334000
CY2014 us-gaap Earnings Per Share Diluted
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CY2014 us-gaap Cost Of Goods Sold
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CY2014 us-gaap Effective Income Tax Rate Reconciliation Tax Contingencies Foreign
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CY2014 us-gaap Excise And Sales Taxes
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CY2014 us-gaap Dividends Common Stock Cash
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2308000
CY2014 us-gaap Effective Income Tax Rate Reconciliation Tax Contingencies
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CY2014 us-gaap Foreign Currency Transaction Gain Loss Unrealized
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CY2014 us-gaap Effective Income Tax Rate Continuing Operations
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CY2014 us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
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225000
CY2014 us-gaap Adjustments To Additional Paid In Capital Tax Effect From Share Based Compensation
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225000
CY2014 us-gaap Deferred Income Tax Expense Benefit
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CY2014 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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CY2014 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
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0.043 pure
CY2014 us-gaap Sales Revenue Net
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71097000
CY2014 us-gaap Increase Decrease In Accounts Payable And Other Operating Liabilities
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CY2014 us-gaap Lease And Rental Expense
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1435000
CY2014 us-gaap Payments For Previous Acquisition
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745000
CY2014 us-gaap Gross Profit
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CY2014 us-gaap Operating Expenses
OperatingExpenses
42091000
CY2014 us-gaap Net Income Loss
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3915000
CY2014 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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6320000
CY2014 us-gaap Interest Expense
InterestExpense
5000
CY2014 us-gaap Increase Decrease In Accounts Receivable
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654000
CY2014 us-gaap Other Restructuring Costs
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27000
CY2014 us-gaap Payments For Repurchase Of Common Stock
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211000
CY2014 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
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CY2014 us-gaap Inventory Write Down
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667000
CY2014 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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17008000 shares
CY2014 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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6559000
CY2014 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
5341000
CY2014 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
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979000
CY2014 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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CY2014 us-gaap Other Comprehensive Income Loss Net Of Tax
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CY2014 us-gaap Operating Income Loss
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6340000
CY2014 us-gaap Payments Of Dividends Common Stock
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2308000
CY2014 us-gaap Payments To Acquire Intangible Assets
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CY2014 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
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6662000
CY2014 us-gaap Gain Loss On Sale Of Property Plant Equipment
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CY2014 us-gaap Income Taxes Paid Net
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CY2014 us-gaap Investment Income Interest
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CY2014 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
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CY2014 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
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1000
CY2014 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
6320000
CY2014 us-gaap Income Tax Expense Benefit
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CY2014 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
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5512000
CY2014 us-gaap Goodwill Impairment Loss
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CY2014 us-gaap Payments To Acquire Property Plant And Equipment
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1174000
CY2014 us-gaap Proceeds From Issuance Of Common Stock
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10834000
CY2014 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
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CY2014 us-gaap Severance Costs1
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499000
CY2014 us-gaap Restructuring Charges
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526000
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Total Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue
500000
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
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0.018 pure
CY2014 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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394000 shares
CY2014 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
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33000
CY2014 us-gaap Stock Repurchased During Period Value
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211000
CY2014 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
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20000
CY2014 us-gaap Stock Issued During Period Value New Issues
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10490000
CY2014 us-gaap Weighted Average Number Of Shares Outstanding Basic
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16614000 shares
CY2014 us-gaap Stock Issued During Period Value Stock Options Exercised
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343000
CY2014 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
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75000
CY2014 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
4671000
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.452 pure
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
819478
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
2.81
CY2014 us-gaap Selling And Marketing Expense
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22087000
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.020 pure
CY2014 us-gaap Share Based Compensation
ShareBasedCompensation
1302000
CY2014 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
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P5Y6M
CY2014 lmat Effective Income Tax Rate Reconciliation Foreign Deferred Tax Liability Offset And Adjustment
EffectiveIncomeTaxRateReconciliationForeignDeferredTaxLiabilityOffsetAndAdjustment
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CY2014 lmat Provision Recovery For Doubtful Accounts
ProvisionRecoveryForDoubtfulAccounts
54000
CY2014 lmat Increase Decrease In Inventory And Other Deferred Costs
IncreaseDecreaseInInventoryAndOtherDeferredCosts
2711000
CY2015 us-gaap Advertising Expense
AdvertisingExpense
428000
CY2014 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
1133000
CY2014 lmat Adjustment To Fair Value Of Accrued Contingent Consideration
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138000
CY2014 lmat Effective Income Tax Rate Reconciliation Italian Permanent Differences
EffectiveIncomeTaxRateReconciliationItalianPermanentDifferences
0.032 pure
CY2015 us-gaap Current Federal Tax Expense Benefit
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3218000
CY2014 lmat Effective Income Tax Rate Reconciliation Deductible Expense Manufacturing Deduction
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0.035 pure
CY2014 lmat Effective Income Tax Rate Reconciliation Other Permanent Differences
EffectiveIncomeTaxRateReconciliationOtherPermanentDifferences
0.031 pure
CY2015 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
0.015 pure
CY2015 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-12000
CY2015 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-466000
CY2015 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
499000
CY2015 us-gaap Common Stock Dividends Per Share Declared
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0.16
CY2015 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
14010000
CY2015 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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CY2015 us-gaap Depreciation
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1881000
CY2015 us-gaap Depreciation Depletion And Amortization
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3394000
CY2015 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.42
CY2015 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
6074000
CY2015 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
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CY2015 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1513000
CY2015 us-gaap Cost Of Goods Sold
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24186000
CY2015 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
333000
CY2015 us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
454000
CY2015 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
55000 shares
CY2015 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1424000
CY2015 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
8759000
CY2015 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
94000
CY2015 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
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CY2015 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
-278000
CY2015 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1424000
CY2015 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.004 pure
CY2015 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
4050000
CY2015 us-gaap Effective Income Tax Rate Reconciliation Tax Contingencies Foreign
EffectiveIncomeTaxRateReconciliationTaxContingenciesForeign
0.022 pure
CY2015 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-102000
CY2015 us-gaap Excise And Sales Taxes
ExciseAndSalesTaxes
744000
CY2015 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
2845000
CY2015 us-gaap Effective Income Tax Rate Reconciliation Tax Contingencies
EffectiveIncomeTaxRateReconciliationTaxContingencies
0.006 pure
CY2015 us-gaap Foreign Currency Transaction Gain Loss Unrealized
ForeignCurrencyTransactionGainLossUnrealized
-100000
CY2015 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.321 pure
CY2015 us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
454000
CY2015 us-gaap Adjustments To Additional Paid In Capital Tax Effect From Share Based Compensation
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454000
CY2015 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-384000
CY2015 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.340 pure
CY2015 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost
0.006 pure
CY2015 us-gaap Sales Revenue Net
SalesRevenueNet
78352000
CY2015 us-gaap Increase Decrease In Accounts Payable And Other Operating Liabilities
IncreaseDecreaseInAccountsPayableAndOtherOperatingLiabilities
2617000
CY2015 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
1506000
CY2015 us-gaap Payments For Previous Acquisition
PaymentsForPreviousAcquisition
1100000
CY2015 us-gaap Gross Profit
GrossProfit
54166000
CY2015 us-gaap Operating Expenses
OperatingExpenses
42653000
CY2015 us-gaap Net Income Loss
NetIncomeLoss
7758000
CY2015 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
11424000
CY2015 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-3480000
CY2015 us-gaap Inventory Write Down
InventoryWriteDown
462000
CY2015 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
1879000
CY2015 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
266000
CY2015 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
1565000
CY2015 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
10469000
CY2015 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
955000
CY2015 us-gaap Proceeds From Divestiture Of Businesses
ProceedsFromDivestitureOfBusinesses
360000
CY2015 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
2035000
CY2015 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
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CY2015 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
360000
CY2015 us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
-234000
CY2015 us-gaap Operating Income Loss
OperatingIncomeLoss
11513000
CY2015 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
2845000
CY2015 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
17000
CY2015 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
1079000
CY2015 us-gaap Gain Loss On Sale Of Property Plant Equipment
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CY2015 us-gaap Income Taxes Paid Net
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4792000
CY2015 us-gaap Investment Income Interest
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13000
CY2015 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
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CY2015 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
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0
CY2015 us-gaap Proceeds From Sale Of Machinery And Equipment
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15000
CY2015 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
11424000
CY2015 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
3666000
CY2015 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
11438000
CY2015 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
742000
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5500000 shares
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CY2016 dei Entity Registrant Name
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LEMAITRE VASCULAR INC
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CY2016 us-gaap Concentration Risk Credit Risk
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<div> <p style="MARGIN-BOTTOM: 0px; MARGIN-LEFT: 2%; MARGIN-TOP: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2"><b><i>Concentrations of Credit Risk</i></b></font></p> <p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 6px; TEXT-INDENT: 4%"> <font style="FONT-FAMILY: Times New Roman" size="2">Our financial instruments that are exposed to concentrations of credit risk consist primarily of cash and cash equivalents and accounts receivable. Cash equivalents represent highly liquid investments with maturities of 90 days or less at the date of purchase. Credit risk related to cash and cash equivalents are limited based on the creditworthiness of the financial institutions at which these funds are held. We maintain cash balances in several banks. Accounts located in the United States are insured by the Federal Deposit Insurance Corporation (FDIC) up to $250,000. Certain of our account balances exceed the FDIC limit. Cash balances held outside the United States totaled approximately $7.1 million as of December&#xA0;31, 2016.</font></p> <p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 12px; TEXT-INDENT: 4%"> <font style="FONT-FAMILY: Times New Roman" size="2">Our accounts receivable are with customers based in the United States and internationally. Accounts receivable generally are due within 30 to 90 days of invoice and are stated at amounts due from customers, net of an allowance for doubtful accounts and sales returns, other than in certain European markets where longer payment terms are customary and may range from 90 to 240 days. We perform ongoing credit evaluations of the financial condition of our customers and adjust credit limits based upon payment history and the current creditworthiness of the customers, as determined by a review of their current credit information. We continuously monitor aging reports, collections, and payments from customers, and maintain a provision for estimated credit losses based upon historical experience and any specific customer collection issues we identify.</font></p> <p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 12px; TEXT-INDENT: 4%"> <font style="FONT-FAMILY: Times New Roman" size="2">We closely monitor outstanding receivables for potential collection risks, including those that may arise from economic conditions, in both the U.S. and international economies. Our European sales to government-owned or supported customers such as hospitals, distributors and agents, in Southern Europe, specifically Italy and Spain may be subject to significant payment delays due to government austerity measures impacting funding and payment practices. As of December&#xA0;31, 2016 our receivables in Italy and Spain totaled $0.8 million and $0.4 million, respectively. Receivables balances with certain publicly-owned hospitals and government supported customers in these countries can accumulate over a period of time and then subsequently be settled as large lump sum payments. While we believe our allowance for doubtful accounts in these countries is adequate as of December&#xA0;31, 2016, if significant changes were to occur in the payment practices of these European governments or if government funding becomes unavailable, we may not be able to collect on receivables due to us from these customers and our write offs of uncollectible amounts may increase.</font></p> <p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 12px; TEXT-INDENT: 4%"> <font style="FONT-FAMILY: Times New Roman" size="2">We write off accounts receivable when they become uncollectible. Such credit losses have historically been within our expectations and allowances. 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CY2016 us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="MARGIN-BOTTOM: 0px; MARGIN-LEFT: 2%; MARGIN-TOP: 18px"> <font style="FONT-FAMILY: Times New Roman" size="2"><b><i>Estimates</i></b></font></p> <p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 6px; TEXT-INDENT: 4%"> <font style="FONT-FAMILY: Times New Roman" size="2">The preparation of financial statements in conformity with U.S. generally accepted accounting principles (GAAP) requires us to make estimates and assumptions that affect the amounts reported in our consolidated financial statements and accompanying notes. Our estimates and assumptions, including those related to bad debts, inventory and other deferred costs, intangible assets, sales returns and discounts, and income taxes are reviewed on an ongoing basis and updated as appropriate. Actual results could differ from those estimates.</font></p> </div>
CY2016 us-gaap Cumulative Effect On Retained Earnings Net Of Tax1
CumulativeEffectOnRetainedEarningsNetOfTax1
72000
CY2016 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
-0.019 pure
CY2016 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
19241000 shares
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Total Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue
800000
CY2016 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P4Y1M6D
CY2016 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
213000
CY2016 lmat Defined Contribution Plan Employers Matching Contribution Annual Vesting Period
DefinedContributionPlanEmployersMatchingContributionAnnualVestingPeriod
P6Y
CY2016 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
14.57
CY2016 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
756000 shares
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.013 pure
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
58341 shares
CY2016 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
0
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod
22669 shares
CY2016 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P2Y7M17D
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Period Increase Decrease
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingPeriodIncreaseDecrease
1979501 shares
CY2016 lmat Remaining Prior Period Of Expiration For Return Of Product For Hospital Customers
RemainingPriorPeriodOfExpirationForReturnOfProductForHospitalCustomers
P12M
CY2016 lmat Maximum Period Of Shipment For Return Of Product
MaximumPeriodOfShipmentForReturnOfProduct
P30D
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue
8.00
CY2016 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
311000
CY2016 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
95000
CY2016 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
6.17
CY2016 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
18485000 shares
CY2016 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
1442000
CY2016 dei Trading Symbol
TradingSymbol
LMAT
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Terms Of Award
ShareBasedCompensationArrangementByShareBasedPaymentAwardTermsOfAward
Not exceed ten years
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Accelerated Compensation Cost
ShareBasedCompensationArrangementByShareBasedPaymentAwardAcceleratedCompensationCost
6100000
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.345 pure
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
2391154
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
510745 shares
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
4.04
CY2016 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
26105000
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.012 pure
CY2016 us-gaap Share Based Compensation
ShareBasedCompensation
1680000
CY2016 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y6M
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
33729 shares
CY2016 lmat Effective Income Tax Rate Reconciliation Other Permanent Differences
EffectiveIncomeTaxRateReconciliationOtherPermanentDifferences
0.012 pure
CY2016 lmat Effective Income Tax Rate Reconciliation Foreign Deferred Tax Liability Offset And Adjustment
EffectiveIncomeTaxRateReconciliationForeignDeferredTaxLiabilityOffsetAndAdjustment
0.015 pure
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Requisite Service Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardRequisiteServicePeriod1
P3Y9M18D
CY2016 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
8.13
CY2016 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P4Y9M15D
CY2016 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 Segment
CY2016 lmat Statute Of Limitation Expiration Period
StatuteOfLimitationExpirationPeriod
Through 2025
CY2016 lmat Effective Income Tax Rate Reconciliation Italian Permanent Differences
EffectiveIncomeTaxRateReconciliationItalianPermanentDifferences
0.000 pure
CY2016 lmat Restructuring And Related Activities Initiation Period Maximum
RestructuringAndRelatedActivitiesInitiationPeriodMaximum
P12M
CY2016 lmat Minimum Percentage Of Likelihood For Determination Of More Likely Than Not Threshold For Goodwill Impairment
MinimumPercentageOfLikelihoodForDeterminationOfMoreLikelyThanNotThresholdForGoodwillImpairment
0.50 pure
CY2016 lmat Purchase Commitments Inventory Expire Year
PurchaseCommitmentsInventoryExpireYear
2018
CY2016 lmat Remaining Prior Period Of Expiration For Return Of Product
RemainingPriorPeriodOfExpirationForReturnOfProduct
P18M
CY2016 lmat Effective Income Tax Rate Reconciliation Deductible Expense Manufacturing Deduction
EffectiveIncomeTaxRateReconciliationDeductibleExpenseManufacturingDeduction
0.025 pure
CY2016 lmat Cash And Cash Equivalents Maximum Maturity Period
CashAndCashEquivalentsMaximumMaturityPeriod
P90D
CY2016Q1 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
3300000
CY2016Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.14
CY2016Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.14
CY2016Q2 us-gaap Gross Profit
GrossProfit
15367000
CY2016 lmat Provision Recovery For Doubtful Accounts
ProvisionRecoveryForDoubtfulAccounts
105000
CY2016 lmat Increase Decrease In Inventory And Other Deferred Costs
IncreaseDecreaseInInventoryAndOtherDeferredCosts
134000
CY2015Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.08
CY2015Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.08
CY2015Q1 us-gaap Gross Profit
GrossProfit
13117000
CY2015Q1 us-gaap Net Income Loss
NetIncomeLoss
1369000
CY2015Q1 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
18947000
CY2015Q1 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
2309000
CY2015Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.10
CY2015Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.10
CY2015Q2 us-gaap Gross Profit
GrossProfit
13130000
CY2015Q2 us-gaap Net Income Loss
NetIncomeLoss
1767000
CY2015Q2 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
19897000
CY2015Q2 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
2794000
CY2016Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.12
CY2016Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.11
CY2016Q1 us-gaap Gross Profit
GrossProfit
14356000
CY2016Q1 us-gaap Net Income Loss
NetIncomeLoss
2166000
CY2016Q1 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
20258000
CY2016Q3 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
5344000
CY2016Q2 us-gaap Net Income Loss
NetIncomeLoss
2598000
CY2015Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.14
CY2016Q2 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
22389000
CY2016Q2 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
3783000
CY2015Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.12
CY2015Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.11
CY2015Q3 us-gaap Net Income Loss
NetIncomeLoss
2092000
CY2015Q3 us-gaap Gross Profit
GrossProfit
13516000
CY2015Q3 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
19025000
CY2015Q3 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
3321000
CY2016Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.17
CY2016Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.17
CY2016Q3 us-gaap Gross Profit
GrossProfit
17019000
CY2016Q3 us-gaap Net Income Loss
NetIncomeLoss
3229000
CY2016Q3 us-gaap Cumulative Effect On Retained Earnings Net Of Tax1
CumulativeEffectOnRetainedEarningsNetOfTax1
100000
CY2016Q3 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
23216000
CY2015Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.13
CY2015Q4 us-gaap Gross Profit
GrossProfit
14403000
CY2015Q4 us-gaap Net Income Loss
NetIncomeLoss
2530000
CY2015Q4 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
20483000
CY2015Q4 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
3089000
CY2016Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.14
CY2016Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.13
CY2016Q4 us-gaap Gross Profit
GrossProfit
16194000
CY2016Q4 us-gaap Net Income Loss
NetIncomeLoss
2597000
CY2016Q4 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
23288000
CY2016Q4 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
3909000

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