$LMAT
LEMAITRE VASCULAR INC

2017 Q4 Form 10-Q Financial Statement

#000119312517332378 Filed on November 03, 2017

View on sec.gov

Income Statement

Concept 2017 Q4 2017 Q3 2016 Q3
Revenue $26.15M $24.82M $23.22M
YoY Change 12.3% 6.92% 22.03%
Cost Of Revenue $7.900M $7.245M $6.197M
YoY Change 11.42% 16.91% 12.49%
Gross Profit $18.25M $17.58M $17.02M
YoY Change 12.7% 3.28% 25.92%
Gross Profit Margin 69.79% 70.81% 73.31%
Selling, General & Admin $9.910M $10.76M $10.14M
YoY Change -4.07% 6.19% 13.33%
% of Gross Profit 54.3% 61.23% 59.56%
Research & Development $1.580M $1.761M $1.539M
YoY Change 3.95% 14.42% 8.3%
% of Gross Profit 8.66% 10.02% 9.04%
Depreciation & Amortization $1.090M $1.010M $850.0K
YoY Change 17.2% 18.82% 2.41%
% of Gross Profit 5.97% 5.75% 4.99%
Operating Expenses $11.93M $12.52M $11.68M
YoY Change -2.93% 7.27% 14.52%
Operating Profit $6.321M $5.053M $5.344M
YoY Change 61.7% -5.45% 60.92%
Interest Expense $10.00K $20.00K -$40.00K
YoY Change -112.5% -150.0% -77.78%
% of Operating Profit 0.16% 0.4% -0.75%
Other Income/Expense, Net
YoY Change
Pretax Income $6.330M $5.073M $5.307M
YoY Change 65.27% -4.41% 69.07%
Income Tax $2.440M $31.00K $2.078M
% Of Pretax Income 38.55% 0.61% 39.16%
Net Earnings $4.284M $5.042M $3.229M
YoY Change 64.96% 56.15% 54.35%
Net Earnings / Revenue 16.38% 20.31% 13.91%
Basic Earnings Per Share $0.22 $0.26 $0.17
Diluted Earnings Per Share $0.21 $0.25 $0.17
COMMON SHARES
Basic Shares Outstanding 19.26M shares 19.12M shares 18.52M shares
Diluted Shares Outstanding 20.15M shares 19.25M shares

Balance Sheet

Concept 2017 Q4 2017 Q3 2016 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $41.70M $37.50M $34.70M
YoY Change 71.6% 8.07% 47.03%
Cash & Equivalents $19.10M $37.51M $34.65M
Short-Term Investments $22.60M
Other Short-Term Assets $4.400M $5.500M $4.000M
YoY Change -4.35% 37.5% 29.03%
Inventory $19.20M $19.10M $17.43M
Prepaid Expenses
Receivables $15.00M $13.55M $12.18M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $80.31M $75.64M $68.24M
YoY Change 36.06% 10.86% 26.41%
LONG-TERM ASSETS
Property, Plant & Equipment $12.38M $11.37M $7.490M
YoY Change 54.49% 51.76% 10.34%
Goodwill $23.84M $23.85M $18.21M
YoY Change 1.78% 31.0% 2.76%
Intangibles $8.234M $8.669M $5.872M
YoY Change -16.8% 47.63% -11.78%
Long-Term Investments
YoY Change
Other Assets $178.0K $179.0K $176.0K
YoY Change 9.2% 1.7% 4.76%
Total Long-Term Assets $46.01M $45.63M $33.07M
YoY Change 7.26% 37.97% 1.34%
TOTAL ASSETS
Total Short-Term Assets $80.31M $75.64M $68.24M
Total Long-Term Assets $46.01M $45.63M $33.07M
Total Assets $126.3M $121.3M $101.3M
YoY Change 23.94% 19.71% 16.97%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.543M $1.617M $1.148M
YoY Change 26.79% 40.85% 23.31%
Accrued Expenses $9.770M $8.803M $10.31M
YoY Change 10.97% -14.6% 35.67%
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 $13.19M $12.11M $12.06M
YoY Change 25.83% 0.38% 36.58%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $1.188M $1.098M $872.0K
YoY Change -40.63% 25.92% 28.99%
Total Long-Term Liabilities $1.188M $1.098M $872.0K
YoY Change -40.63% 25.92% 28.99%
TOTAL LIABILITIES
Total Short-Term Liabilities $13.19M $12.11M $12.06M
Total Long-Term Liabilities $1.188M $1.098M $872.0K
Total Liabilities $16.55M $15.16M $14.62M
YoY Change 14.76% 3.69% 17.62%
SHAREHOLDERS EQUITY
Retained Earnings $28.33M $25.11M $13.57M
YoY Change 84.76% 85.06% 113.47%
Common Stock $93.33M $207.0K $200.0K
YoY Change 9.06% 3.5% 2.56%
Preferred Stock
YoY Change
Treasury Stock (at cost) $9.608M $9.608M $8.702M
YoY Change 8.81% 10.41% 2.14%
Treasury Stock Shares $1.480M 1.480M shares 1.453M shares
Shareholders Equity $109.8M $106.1M $86.69M
YoY Change
Total Liabilities & Shareholders Equity $126.3M $121.3M $101.3M
YoY Change 23.94% 19.71% 16.97%

Cashflow Statement

Concept 2017 Q4 2017 Q3 2016 Q3
OPERATING ACTIVITIES
Net Income $4.284M $5.042M $3.229M
YoY Change 64.96% 56.15% 54.35%
Depreciation, Depletion And Amortization $1.090M $1.010M $850.0K
YoY Change 17.2% 18.82% 2.41%
Cash From Operating Activities $6.770M $8.200M $6.350M
YoY Change 61.19% 29.13% 50.83%
INVESTING ACTIVITIES
Capital Expenditures -$1.640M -$2.340M -$570.0K
YoY Change 62.38% 310.53% -25.97%
Acquisitions
YoY Change
Other Investing Activities -$22.54M $0.00
YoY Change 87.83% -100.0%
Cash From Investing Activities -$24.18M -$2.340M -$570.0K
YoY Change 85.86% 310.53% 0.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.070M 1.300M -510.0K
YoY Change 2.88% -354.9% -187.93%
NET CHANGE
Cash From Operating Activities 6.770M 8.200M 6.350M
Cash From Investing Activities -24.18M -2.340M -570.0K
Cash From Financing Activities -1.070M 1.300M -510.0K
Net Change In Cash -18.48M 7.160M 5.270M
YoY Change 87.61% 35.86% 24.88%
FREE CASH FLOW
Cash From Operating Activities $6.770M $8.200M $6.350M
Capital Expenditures -$1.640M -$2.340M -$570.0K
Free Cash Flow $8.410M $10.54M $6.920M
YoY Change 61.42% 52.31% 38.96%

Facts In Submission

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778000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1195000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
143000 shares
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1170000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
7199000
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.135
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
8829000
us-gaap Cost Of Goods Sold
CostOfGoodsSold
19121000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
2658000
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.42
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
230000
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.43
us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-74000
us-gaap Foreign Currency Transaction Gain Loss Unrealized
ForeignCurrencyTransactionGainLossUnrealized
1000
us-gaap Gross Profit
GrossProfit
46742000
us-gaap Investment Income Interest
InvestmentIncomeInterest
55000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
68000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
4415000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
390000
us-gaap Inventory Write Down
InventoryWriteDown
280000
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
12702000
us-gaap Operating Expenses
OperatingExpenses
34315000
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-1535000
us-gaap Net Income Loss
NetIncomeLoss
7993000
CY2016Q3 us-gaap Cost Of Goods Sold
CostOfGoodsSold
6197000
CY2016Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.17
CY2016Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
533000
CY2016Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
426000 shares
CY2016Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
385000
CY2016Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.045
CY2016Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
3541000
us-gaap Operating Income Loss
OperatingIncomeLoss
12427000
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
836000
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
836000
us-gaap Payments For Previous Acquisition
PaymentsForPreviousAcquisition
249000
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
2487000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
183000
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
2368000
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
1830000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
1384000
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
4619000
us-gaap Sales Revenue Net
SalesRevenueNet
65863000
us-gaap Share Based Compensation
ShareBasedCompensation
1195000
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
19353000
us-gaap Stock Issued During Period Shares Share Based Compensation
StockIssuedDuringPeriodSharesShareBasedCompensation
285000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
19103000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
680000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
18423000 shares
lmat Increase Decrease In Inventory And Other Deferred Costs
IncreaseDecreaseInInventoryAndOtherDeferredCosts
216000
lmat Provision Recovery For Doubtful Accounts
ProvisionRecoveryForDoubtfulAccounts
52000
lmat Shares Withheld To Satisfy Restricted Stock Unit Tax Withholdings
SharesWithheldToSatisfyRestrictedStockUnitTaxWithholdings
183000
CY2016Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.17
CY2016Q3 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-61000
CY2016Q3 us-gaap Gross Profit
GrossProfit
17019000
CY2016Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
3595000
CY2016Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
5307000
CY2016Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2078000
CY2016Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
24000
CY2016Q3 us-gaap Operating Expenses
OperatingExpenses
11675000
CY2016Q3 us-gaap Net Income Loss
NetIncomeLoss
3229000
CY2016Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
5344000
CY2016Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
312000
CY2016Q3 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
312000
CY2016Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1539000
CY2016Q3 us-gaap Sales Revenue Net
SalesRevenueNet
23216000
CY2016Q3 us-gaap Share Based Compensation
ShareBasedCompensation
533000
CY2016Q3 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
6541000
CY2016Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
19248000 shares
CY2016Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
724000 shares
CY2016Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
18524000 shares
CY2017Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
887000
CY2017Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
443000
CY2017Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.055
CY2017Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
5706000
CY2017Q3 us-gaap Cost Of Goods Sold
CostOfGoodsSold
7245000
CY2017Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.25
CY2017Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.26
CY2017Q3 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-28000
CY2017Q3 us-gaap Gross Profit
GrossProfit
17577000
CY2017Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
4562000
CY2017Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
5073000
CY2017Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
31000
CY2017Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
48000
CY2017Q3 us-gaap Operating Expenses
OperatingExpenses
12524000
CY2017Q3 us-gaap Net Income Loss
NetIncomeLoss
5042000
CY2017Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
5053000
CY2017Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
664000
CY2017Q3 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
664000
CY2017Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1761000
CY2017Q3 us-gaap Sales Revenue Net
SalesRevenueNet
24822000
CY2017Q3 us-gaap Share Based Compensation
ShareBasedCompensation
887000
CY2017Q3 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
6201000
CY2017Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
20147000 shares
CY2017Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1023000 shares
CY2017Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
19124000 shares
CY2017Q3 lmat Stock Option Modification Expense
StockOptionModificationExpense
500000

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