$LMAT
LEMAITRE VASCULAR INC

2017 Q2 Form 10-Q Financial Statement

#000119312517246948 Filed on August 03, 2017

View on sec.gov

Income Statement

Concept 2017 Q2 2016 Q4 2016 Q2
Revenue $25.75M $23.29M $22.39M
YoY Change 15.03% 13.69% 12.52%
Cost Of Revenue $8.238M $7.090M $7.022M
YoY Change 17.32% 16.61% 3.77%
Gross Profit $17.52M $16.19M $15.37M
YoY Change 13.98% 12.43% 17.04%
Gross Profit Margin 68.02% 69.54% 68.64%
Selling, General & Admin $10.35M $10.33M $9.950M
YoY Change 3.98% 10.36% 12.79%
% of Gross Profit 59.07% 63.79% 64.75%
Research & Development $1.634M $1.520M $1.634M
YoY Change 0.0% -3.8% 22.76%
% of Gross Profit 9.33% 9.39% 10.63%
Depreciation & Amortization $980.0K $930.0K $930.0K
YoY Change 5.38% 4.49% 10.71%
% of Gross Profit 5.59% 5.74% 6.05%
Operating Expenses $11.98M $12.29M $11.58M
YoY Change 3.42% 8.66% 12.07%
Operating Profit $5.536M $3.909M $3.783M
YoY Change 46.34% 26.38% 35.4%
Interest Expense -$70.00K -$80.00K $50.00K
YoY Change -240.0% -260.0% 66.67%
% of Operating Profit -1.26% -2.05% 1.32%
Other Income/Expense, Net
YoY Change
Pretax Income $5.465M $3.830M $3.836M
YoY Change 42.47% 21.97% 35.84%
Income Tax $833.0K $1.240M $1.238M
% Of Pretax Income 15.24% 32.38% 32.27%
Net Earnings $4.632M $2.597M $2.598M
YoY Change 78.29% 2.65% 47.03%
Net Earnings / Revenue 17.99% 11.15% 11.6%
Basic Earnings Per Share $0.25 $0.14 $0.14
Diluted Earnings Per Share $0.23 $0.13 $0.14
COMMON SHARES
Basic Shares Outstanding 18.82M shares 18.58M shares 18.41M shares
Diluted Shares Outstanding 19.98M shares 18.98M shares

Balance Sheet

Concept 2017 Q2 2016 Q4 2016 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $30.10M $24.30M $29.30M
YoY Change 2.73% -11.64% 51.03%
Cash & Equivalents $30.12M $24.29M $29.32M
Short-Term Investments
Other Short-Term Assets $5.200M $4.600M $3.300M
YoY Change 57.58% 27.78% 13.79%
Inventory $20.46M $19.58M $16.96M
Prepaid Expenses
Receivables $14.59M $13.19M $12.84M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $68.09M $59.03M $62.42M
YoY Change 9.08% 1.45% 24.08%
LONG-TERM ASSETS
Property, Plant & Equipment $9.544M $8.012M $7.324M
YoY Change 30.31% 14.1% 10.8%
Goodwill $23.65M $23.43M $18.15M
YoY Change 30.28% 31.69% 1.4%
Intangibles $9.083M $9.897M $6.211M
YoY Change 46.24% 56.2% -10.52%
Long-Term Investments
YoY Change
Other Assets $179.0K $163.0K $177.0K
YoY Change 1.13% -2.98% 5.36%
Total Long-Term Assets $43.97M $42.90M $33.11M
YoY Change 32.8% 31.91% 0.54%
TOTAL ASSETS
Total Short-Term Assets $68.09M $59.03M $62.42M
Total Long-Term Assets $43.97M $42.90M $33.11M
Total Assets $112.1M $101.9M $95.53M
YoY Change 17.3% 12.37% 14.77%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.574M $1.217M $1.550M
YoY Change 1.55% -10.91% 19.88%
Accrued Expenses $7.687M $8.804M $7.810M
YoY Change -1.57% -0.37% 18.42%
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 $9.397M $10.48M $10.14M
YoY Change -7.29% 1.1% 9.71%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $2.400M $2.001M $864.0K
YoY Change 177.78% 158.53% 34.79%
Total Long-Term Liabilities $2.400M $2.001M $864.0K
YoY Change 177.78% 158.53% 34.79%
TOTAL LIABILITIES
Total Short-Term Liabilities $9.397M $10.48M $10.14M
Total Long-Term Liabilities $2.400M $2.001M $864.0K
Total Liabilities $13.74M $14.42M $12.68M
YoY Change 8.39% 12.51% -0.93%
SHAREHOLDERS EQUITY
Retained Earnings $21.12M $15.34M $11.27M
YoY Change 87.38% 87.91% 126.39%
Common Stock $204.0K $85.58M $199.0K
YoY Change 2.51% 43340.61% 4.19%
Preferred Stock
YoY Change
Treasury Stock (at cost) $8.830M $8.830M $8.521M
YoY Change 3.63% 3.65% 3.17%
Treasury Stock Shares 1.453M shares 1.453M shares 1.431M shares
Shareholders Equity $98.31M $87.50M $82.85M
YoY Change
Total Liabilities & Shareholders Equity $112.1M $101.9M $95.53M
YoY Change 17.3% 12.37% 14.77%

Cashflow Statement

Concept 2017 Q2 2016 Q4 2016 Q2
OPERATING ACTIVITIES
Net Income $4.632M $2.597M $2.598M
YoY Change 78.29% 2.65% 47.03%
Depreciation, Depletion And Amortization $980.0K $930.0K $930.0K
YoY Change 5.38% 4.49% 10.71%
Cash From Operating Activities $5.420M $4.200M $5.090M
YoY Change 6.48% 6.87% 30.51%
INVESTING ACTIVITIES
Capital Expenditures -$750.0K -$1.010M -$540.0K
YoY Change 38.89% 38.36% 14.89%
Acquisitions
YoY Change
Other Investing Activities $0.00 -$12.00M $10.00K
YoY Change -100.0% 8471.43% -100.9%
Cash From Investing Activities -$750.0K -$13.01M -$530.0K
YoY Change 41.51% 1412.79% -66.67%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -710.0K -1.040M -1.170M
YoY Change -39.32% -222.35% -4000.0%
NET CHANGE
Cash From Operating Activities 5.420M 4.200M 5.090M
Cash From Investing Activities -750.0K -13.01M -530.0K
Cash From Financing Activities -710.0K -1.040M -1.170M
Net Change In Cash 3.960M -9.850M 3.390M
YoY Change 16.81% -351.28% 44.87%
FREE CASH FLOW
Cash From Operating Activities $5.420M $4.200M $5.090M
Capital Expenditures -$750.0K -$1.010M -$540.0K
Free Cash Flow $6.170M $5.210M $5.630M
YoY Change 9.59% 11.8% 28.83%

Facts In Submission

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us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.26
us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-13000
us-gaap Foreign Currency Transaction Gain Loss Unrealized
ForeignCurrencyTransactionGainLossUnrealized
5000
us-gaap Gross Profit
GrossProfit
29723000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
6748000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
7101000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
1492000
us-gaap Increase Decrease In Accounts Payable And Other Operating Liabilities
IncreaseDecreaseInAccountsPayableAndOtherOperatingLiabilities
-882000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
776000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-264000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2337000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-266000
us-gaap Inventory Write Down
InventoryWriteDown
199000
us-gaap Investment Income Interest
InvestmentIncomeInterest
31000
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-3632000
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
6352000
us-gaap Operating Expenses
OperatingExpenses
22640000
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-1028000
us-gaap Net Income Loss
NetIncomeLoss
4764000
us-gaap Operating Income Loss
OperatingIncomeLoss
7083000
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
524000
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
524000
us-gaap Payments For Previous Acquisition
PaymentsForPreviousAcquisition
43000
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
1653000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
2000
us-gaap Sales Revenue Net
SalesRevenueNet
42647000
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
2368000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
670000
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
3080000
us-gaap Share Based Compensation
ShareBasedCompensation
662000
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
12812000
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 Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
18926000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
554000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
18372000 shares
lmat Payments To Acquire Property Plant Equipment And Other Assets
PaymentsToAcquirePropertyPlantEquipmentAndOtherAssets
1264000
lmat Provision Recovery For Doubtful Accounts
ProvisionRecoveryForDoubtfulAccounts
48000
CY2016Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
332000
CY2016Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
11000 shares
CY2016Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
405000
CY2016Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.045
CY2016Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
2193000
CY2016Q2 us-gaap Cost Of Goods Sold
CostOfGoodsSold
7022000
CY2016Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.14
CY2016Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.14
CY2016Q2 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
37000
CY2016Q2 us-gaap Gross Profit
GrossProfit
15367000
CY2016Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
3411000
CY2016Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
3836000
CY2016Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1238000
CY2016Q2 us-gaap Investment Income Interest
InvestmentIncomeInterest
16000
CY2016Q2 us-gaap Operating Expenses
OperatingExpenses
11584000
CY2016Q2 us-gaap Net Income Loss
NetIncomeLoss
2598000
CY2016Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
3783000
CY2016Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-405000
CY2016Q2 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-405000
CY2016Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1634000
CY2016Q2 us-gaap Sales Revenue Net
SalesRevenueNet
22389000
CY2016Q2 us-gaap Share Based Compensation
ShareBasedCompensation
332000
CY2016Q2 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
6539000
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
CY2017Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
472000
CY2017Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1000 shares
CY2017Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
456000
CY2017Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.055
CY2017Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
5651000
CY2017Q2 us-gaap Cost Of Goods Sold
CostOfGoodsSold
8237000
CY2017Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.23
CY2017Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.25
CY2017Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
3747000
CY2017Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
5466000
CY2017Q2 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-102000
CY2017Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Period Increase Decrease
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease
400000
CY2017Q2 us-gaap Gross Profit
GrossProfit
17516000
CY2017Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
834000
CY2017Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
5536000
CY2017Q2 us-gaap Investment Income Interest
InvestmentIncomeInterest
32000
CY2017Q2 us-gaap Operating Expenses
OperatingExpenses
11980000
CY2017Q2 us-gaap Net Income Loss
NetIncomeLoss
4632000
CY2017Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
1019000
CY2017Q2 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
1019000
CY2017Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1634000
CY2017Q2 us-gaap Sales Revenue Net
SalesRevenueNet
25753000
CY2017Q2 us-gaap Share Based Compensation
ShareBasedCompensation
472000
CY2017Q2 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
6599000
CY2017Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
19975000 shares
CY2017Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1159000 shares
CY2017Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
18816000 shares

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