$LMAT
LEMAITRE VASCULAR INC

2018 Q4 Form 10-Q Financial Statement

#000119312518317080 Filed on November 02, 2018

View on sec.gov

Income Statement

Concept 2018 Q4 2018 Q3 2017 Q3
Revenue $28.39M $24.16M $24.82M
YoY Change 8.55% -2.65% 6.92%
Cost Of Revenue $9.170M $6.910M $7.245M
YoY Change 16.08% -4.62% 16.91%
Gross Profit $19.22M $17.26M $17.58M
YoY Change 5.3% -1.83% 3.28%
Gross Profit Margin 67.7% 71.41% 70.81%
Selling, General & Admin $10.73M $10.61M $10.76M
YoY Change 8.27% -1.47% 6.19%
% of Gross Profit 55.83% 61.46% 61.23%
Research & Development $2.350M $2.037M $1.761M
YoY Change 48.73% 15.67% 14.42%
% of Gross Profit 12.23% 11.81% 10.02%
Depreciation & Amortization $1.210M $1.010M $1.010M
YoY Change 11.01% 0.0% 18.82%
% of Gross Profit 6.3% 5.85% 5.75%
Operating Expenses $13.63M $12.64M $12.52M
YoY Change 14.25% 0.94% 7.27%
Operating Profit $7.193M $4.613M $5.053M
YoY Change 13.8% -8.71% -5.45%
Interest Expense $60.00K $120.0K $20.00K
YoY Change 500.0% 500.0% -150.0%
% of Operating Profit 0.83% 2.6% 0.4%
Other Income/Expense, Net
YoY Change
Pretax Income $7.250M $4.730M $5.073M
YoY Change 14.53% -6.76% -4.41%
Income Tax $1.230M $416.0K $31.00K
% Of Pretax Income 16.97% 8.79% 0.61%
Net Earnings $6.025M $4.314M $5.042M
YoY Change 40.64% -14.44% 56.15%
Net Earnings / Revenue 21.22% 17.85% 20.31%
Basic Earnings Per Share $0.31 $0.22 $0.26
Diluted Earnings Per Share $0.30 $0.21 $0.25
COMMON SHARES
Basic Shares Outstanding 19.58M shares 19.50M 19.12M shares
Diluted Shares Outstanding 20.29M 20.15M shares

Balance Sheet

Concept 2018 Q4 2018 Q3 2017 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $48.00M $45.60M $37.50M
YoY Change 15.11% 21.6% 8.07%
Cash & Equivalents $26.32M $20.10M $37.51M
Short-Term Investments $21.70M $25.50M
Other Short-Term Assets $4.700M $5.700M $5.500M
YoY Change 6.82% 3.64% 37.5%
Inventory $25.60M $22.50M $19.10M
Prepaid Expenses
Receivables $15.72M $13.02M $13.55M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $94.02M $86.81M $75.64M
YoY Change 17.07% 14.76% 10.86%
LONG-TERM ASSETS
Property, Plant & Equipment $14.10M $12.70M $11.37M
YoY Change 13.93% 11.68% 51.76%
Goodwill $29.87M $29.80M $23.85M
YoY Change 25.26% 24.96% 31.0%
Intangibles $13.69M $13.49M $8.669M
YoY Change 66.29% 55.61% 47.63%
Long-Term Investments
YoY Change
Other Assets $194.0K $192.0K $179.0K
YoY Change 8.99% 7.26% 1.7%
Total Long-Term Assets $59.07M $57.52M $45.63M
YoY Change 28.38% 26.06% 37.97%
TOTAL ASSETS
Total Short-Term Assets $94.02M $86.81M $75.64M
Total Long-Term Assets $59.07M $57.52M $45.63M
Total Assets $153.1M $144.3M $121.3M
YoY Change 21.19% 19.01% 19.71%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.732M $1.627M $1.617M
YoY Change 12.25% 0.62% 40.85%
Accrued Expenses $15.85M $11.01M $8.803M
YoY Change 62.2% 25.03% -14.6%
Deferred Revenue $552.0K
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $19.76M $14.64M $12.11M
YoY Change 49.81% 20.88% 0.38%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $2.611M $2.167M $1.098M
YoY Change 119.78% 97.36% 25.92%
Total Long-Term Liabilities $2.611M $2.167M $1.098M
YoY Change 119.78% 97.36% 25.92%
TOTAL LIABILITIES
Total Short-Term Liabilities $19.76M $14.64M $12.11M
Total Long-Term Liabilities $2.611M $2.167M $1.098M
Total Liabilities $22.85M $18.98M $15.16M
YoY Change 38.06% 25.23% 3.69%
SHAREHOLDERS EQUITY
Retained Earnings $45.83M $41.18M $25.11M
YoY Change 61.76% 64.0% 85.06%
Common Stock $98.65M $97.94M $207.0K
YoY Change 5.7% 47213.04% 3.5%
Preferred Stock
YoY Change
Treasury Stock (at cost) $10.35M $10.29M $9.608M
YoY Change 7.71% 7.07% 10.41%
Treasury Stock Shares $1.502M 1.499M shares 1.480M shares
Shareholders Equity $130.2M $125.3M $106.1M
YoY Change
Total Liabilities & Shareholders Equity $153.1M $144.3M $121.3M
YoY Change 21.19% 19.01% 19.71%

Cashflow Statement

Concept 2018 Q4 2018 Q3 2017 Q3
OPERATING ACTIVITIES
Net Income $6.025M $4.314M $5.042M
YoY Change 40.64% -14.44% 56.15%
Depreciation, Depletion And Amortization $1.210M $1.010M $1.010M
YoY Change 11.01% 0.0% 18.82%
Cash From Operating Activities $6.570M $4.310M $8.200M
YoY Change -2.95% -47.44% 29.13%
INVESTING ACTIVITIES
Capital Expenditures -$1.290M -$530.0K -$2.340M
YoY Change -21.34% -77.35% 310.53%
Acquisitions
YoY Change
Other Investing Activities $2.550M -$3.190M
YoY Change -111.31%
Cash From Investing Activities $1.250M -$3.720M -$2.340M
YoY Change -105.17% 58.97% 310.53%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.310M 0.000 1.300M
YoY Change 22.43% -100.0% -354.9%
NET CHANGE
Cash From Operating Activities 6.570M 4.310M 8.200M
Cash From Investing Activities 1.250M -3.720M -2.340M
Cash From Financing Activities -1.310M 0.000 1.300M
Net Change In Cash 6.510M 590.0K 7.160M
YoY Change -135.23% -91.76% 35.86%
FREE CASH FLOW
Cash From Operating Activities $6.570M $4.310M $8.200M
Capital Expenditures -$1.290M -$530.0K -$2.340M
Free Cash Flow $7.860M $4.840M $10.54M
YoY Change -6.54% -54.08% 52.31%

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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
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us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
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dei Entity Central Index Key
EntityCentralIndexKey
0001158895
dei Entity Registrant Name
EntityRegistrantName
LEMAITRE VASCULAR INC
dei Entity Small Business
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false
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dei Document Period End Date
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2018-09-30
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dei Entity Emerging Growth Company
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dei Entity Filer Category
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us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Earnings
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us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Settlements
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0
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us-gaap Goodwill Written Off Related To Sale Of Business Unit
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us-gaap Payments To Acquire Short Term Investments
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us-gaap Profit Loss
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SellingAndMarketingExpense
20504000
dei Trading Symbol
TradingSymbol
LMAT
us-gaap Stock Issued During Period Shares Share Based Compensation
StockIssuedDuringPeriodSharesShareBasedCompensation
329000 shares
us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
0
us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
2000
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0
us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
19369000 shares
us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
61000
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
889000 shares
lmat Tax Cuts And Jobs Act Of2017 Incomplete Accounting Change In Tax Rate Provisional Income Tax Expense Benefit
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lmat Tax Cuts And Jobs Act Of2017 Incomplete Accounting Transition Tax For Accumulated Foreign Earnings Provisional Income Tax Expense
TaxCutsAndJobsActOf2017IncompleteAccountingTransitionTaxForAccumulatedForeignEarningsProvisionalIncomeTaxExpense
600000
lmat Common Stock Repurchased For Restricted Stock Unit Tax Withholdings
CommonStockRepurchasedForRestrictedStockUnitTaxWithholdings
678000
lmat Increase Decrease In Inventory And Other Deferred Costs
IncreaseDecreaseInInventoryAndOtherDeferredCosts
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lmat Statute Of Limitation Expiration Period
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CY2017 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
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443000
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0.055
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ComprehensiveIncomeNetOfTax
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OperatingExpenses
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WeightedAverageNumberOfDilutedSharesOutstanding
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CY2017Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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CY2017Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
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CY2018Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
537000
CY2018Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
212000 shares
CY2018Q3 us-gaap Amortization Of Intangible Assets
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380000
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WeightedAverageNumberOfSharesOutstandingBasic
19503000 shares
CY2018Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
790000 shares

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