$LMAT
LEMAITRE VASCULAR INC

2018 Q1 Form 10-Q Financial Statement

#000119312518152587 Filed on May 04, 2018

View on sec.gov

Income Statement

Concept 2018 Q1 2017 Q1
Revenue $25.99M $24.14M
YoY Change 7.68% 19.16%
Cost Of Revenue $7.520M $6.786M
YoY Change 10.82% 14.98%
Gross Profit $18.47M $17.35M
YoY Change 6.46% 20.88%
Gross Profit Margin 71.07% 71.89%
Selling, General & Admin $11.79M $11.50M
YoY Change 2.48% 19.69%
% of Gross Profit 63.8% 66.28%
Research & Development $1.825M $1.658M
YoY Change 10.07% 14.66%
% of Gross Profit 9.88% 9.55%
Depreciation & Amortization $1.036M $979.0K
YoY Change 5.82% 11.12%
% of Gross Profit 5.61% 5.64%
Operating Expenses $13.61M $13.16M
YoY Change 3.43% 19.03%
Operating Profit $4.862M $4.193M
YoY Change 15.96% 27.06%
Interest Expense $50.00K $0.00
YoY Change
% of Operating Profit 1.03% 0.0%
Other Income/Expense, Net
YoY Change
Pretax Income $4.916M $4.239M
YoY Change 15.97% 29.83%
Income Tax $1.063M $1.020M
% Of Pretax Income 21.62% 24.06%
Net Earnings $3.853M $3.219M
YoY Change 19.7% 48.61%
Net Earnings / Revenue 14.82% 13.34%
Basic Earnings Per Share $0.20 $0.17
Diluted Earnings Per Share $0.19 $0.16
COMMON SHARES
Basic Shares Outstanding 19.28M 18.63M shares
Diluted Shares Outstanding 20.18M 19.71M shares

Balance Sheet

Concept 2018 Q1 2017 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $45.40M $25.80M
YoY Change 75.97% -0.39%
Cash & Equivalents $22.78M $25.81M
Short-Term Investments $22.60M
Other Short-Term Assets $3.600M $4.700M
YoY Change -23.4% 62.07%
Inventory $20.50M $20.60M
Prepaid Expenses
Receivables $14.51M $14.09M
Other Receivables $0.00 $0.00
Total Short-Term Assets $84.01M $62.50M
YoY Change 34.4% 4.62%
LONG-TERM ASSETS
Property, Plant & Equipment $12.17M $9.279M
YoY Change 31.16% 26.16%
Goodwill $23.81M $23.63M
YoY Change 0.77% 29.89%
Intangibles $7.806M $9.524M
YoY Change -18.04% 43.0%
Long-Term Investments
YoY Change
Other Assets $197.0K $165.0K
YoY Change 19.39% -2.94%
Total Long-Term Assets $45.40M $44.02M
YoY Change 3.14% 30.84%
TOTAL ASSETS
Total Short-Term Assets $84.01M $62.50M
Total Long-Term Assets $45.40M $44.02M
Total Assets $129.4M $106.5M
YoY Change 21.49% 14.07%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.440M $2.220M
YoY Change -35.14% 25.21%
Accrued Expenses $9.118M $8.286M
YoY Change 10.04% 8.06%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $12.64M $10.77M
YoY Change 17.44% 5.91%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $1.121M $2.198M
YoY Change -49.0% 139.96%
Total Long-Term Liabilities $1.121M $2.198M
YoY Change -49.0% 139.96%
TOTAL LIABILITIES
Total Short-Term Liabilities $12.64M $10.77M
Total Long-Term Liabilities $1.121M $2.198M
Total Liabilities $15.94M $14.90M
YoY Change 6.95% 16.8%
SHAREHOLDERS EQUITY
Retained Earnings $30.84M $17.53M
YoY Change 75.94% 84.45%
Common Stock $94.25M $202.0K
YoY Change 46557.43% 2.02%
Preferred Stock
YoY Change
Treasury Stock (at cost) $9.608M $8.830M
YoY Change 8.81% 3.65%
Treasury Stock Shares 1.480M shares 1.453B shares
Shareholders Equity $113.5M $91.62M
YoY Change
Total Liabilities & Shareholders Equity $129.4M $106.5M
YoY Change 21.49% 14.07%

Cashflow Statement

Concept 2018 Q1 2017 Q1
OPERATING ACTIVITIES
Net Income $3.853M $3.219M
YoY Change 19.7% 48.61%
Depreciation, Depletion And Amortization $1.036M $979.0K
YoY Change 5.82% 11.12%
Cash From Operating Activities $3.751M $2.480M
YoY Change 51.25% 96.83%
INVESTING ACTIVITIES
Capital Expenditures -$430.0K -$1.690M
YoY Change -74.56% -334.72%
Acquisitions
YoY Change
Other Investing Activities -$90.00K
YoY Change
Cash From Investing Activities -$521.0K -$1.690M
YoY Change -69.17% -45.48%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $292.0K $819.0K
YoY Change -64.35% 480.85%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 257.0K 560.0K
YoY Change -54.11% 300.0%
NET CHANGE
Cash From Operating Activities 3.751M 2.480M
Cash From Investing Activities -521.0K -1.690M
Cash From Financing Activities 257.0K 560.0K
Net Change In Cash 3.487M 1.350M
YoY Change 158.3% -179.41%
FREE CASH FLOW
Cash From Operating Activities $3.751M $2.480M
Capital Expenditures -$430.0K -$1.690M
Free Cash Flow $4.181M $4.170M
YoY Change 0.26% 672.22%

Facts In Submission

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CY2018Q1 dei Document Type
DocumentType
10-Q
CY2018Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.19
CY2018Q1 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
CY2018Q1 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
198000
CY2018Q1 dei Document Period End Date
DocumentPeriodEndDate
2018-03-31
CY2018Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.20
CY2018Q1 dei Entity Registrant Name
EntityRegistrantName
LEMAITRE VASCULAR INC
CY2018Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Settlements
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements
35000
CY2018Q1 dei Entity Central Index Key
EntityCentralIndexKey
0001158895
CY2018Q1 dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
CY2018Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Earnings
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings
30000
CY2018Q1 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-41000
CY2018Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Purchases Sales Issuances Settlements
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPurchasesSalesIssuancesSettlements
0
CY2018Q1 us-gaap Foreign Currency Transaction Gain Loss Unrealized
ForeignCurrencyTransactionGainLossUnrealized
6000
CY2018Q1 us-gaap Gross Profit
GrossProfit
18474000
CY2018Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
283000
CY2018Q1 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
328000
CY2018Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
4697000
CY2018Q1 us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
-34000
CY2018Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
4916000
CY2018Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
1562000
CY2018Q1 us-gaap Increase Decrease In Accounts Payable And Other Operating Liabilities
IncreaseDecreaseInAccountsPayableAndOtherOperatingLiabilities
-2080000
CY2018Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-571000
CY2018Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1063000
CY2018Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-360000
CY2018Q1 us-gaap Inventory Write Down
InventoryWriteDown
101000
CY2018Q1 us-gaap Investment Income Interest
InvestmentIncomeInterest
95000
CY2018Q1 us-gaap Marketable Securities Unrealized Gain Loss
MarketableSecuritiesUnrealizedGainLoss
-45000
CY2018Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-521000
CY2018Q1 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
3751000
CY2018Q1 us-gaap Operating Expenses
OperatingExpenses
13612000
CY2018Q1 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
257000
CY2018Q1 us-gaap Net Income Loss
NetIncomeLoss
3853000
CY2018Q1 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 Segment
CY2018Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
4862000
CY2018Q1 us-gaap Payments For Previous Acquisition
PaymentsForPreviousAcquisition
35000
CY2018Q1 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
427000
CY2018Q1 us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
94000
CY2018Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
292000
CY2018Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1825000
CY2018Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
25994000
CY2018Q1 us-gaap Sales Revenue Net
SalesRevenueNet
25994000
CY2018Q1 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
7090000
CY2018Q1 us-gaap Share Based Compensation
ShareBasedCompensation
621000
CY2018Q1 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
16000
CY2018Q1 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
0
CY2018Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
20181000 shares
CY2018Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
898000 shares
CY2018Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
19283000 shares
CY2018Q1 lmat Increase Decrease In Inventory And Other Deferred Costs
IncreaseDecreaseInInventoryAndOtherDeferredCosts
808000
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0 shares
CY2018Q1 us-gaap Stock Issued During Period Shares Share Based Compensation
StockIssuedDuringPeriodSharesShareBasedCompensation
35000 shares
CY2018Q1 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
15000
CY2018Q1 dei Trading Symbol
TradingSymbol
LMAT
CY2018Q1 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
0
CY2018Q1 lmat Provision Recovery For Doubtful Accounts
ProvisionRecoveryForDoubtfulAccounts
73000
CY2018Q1 lmat Statute Of Limitation Expiration Period
StatuteOfLimitationExpirationPeriod
2025
CY2018Q1 lmat Tax Cuts And Jobs Act Of2017 Incomplete Accounting Transition Tax For Accumulated Foreign Earnings Provisional Income Tax Expense
TaxCutsAndJobsActOf2017IncompleteAccountingTransitionTaxForAccumulatedForeignEarningsProvisionalIncomeTaxExpense
600000
CY2018Q1 lmat Tax Cuts And Jobs Act Of2017 Incomplete Accounting Change In Tax Rate Provisional Income Tax Expense Benefit
TaxCutsAndJobsActOf2017IncompleteAccountingChangeInTaxRateProvisionalIncomeTaxExpenseBenefit
1000000

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