$LMAT
LEMAITRE VASCULAR INC

2019 Q1 Form 10-Q Financial Statement

#000143774919008864 Filed on May 06, 2019

View on sec.gov

Income Statement

Concept 2019 Q1 2018 Q1
Revenue $28.48M $25.99M
YoY Change 9.56% 7.68%
Cost Of Revenue $9.015M $7.520M
YoY Change 19.88% 10.82%
Gross Profit $19.46M $18.47M
YoY Change 5.36% 6.46%
Gross Profit Margin 68.35% 71.07%
Selling, General & Admin $12.79M $11.79M
YoY Change 8.5% 2.48%
% of Gross Profit 65.71% 63.8%
Research & Development $2.240M $1.825M
YoY Change 22.74% 10.07%
% of Gross Profit 11.51% 9.88%
Depreciation & Amortization $1.284M $1.036M
YoY Change 23.94% 5.82%
% of Gross Profit 6.6% 5.61%
Operating Expenses $15.03M $13.61M
YoY Change 10.41% 3.43%
Operating Profit $4.435M $4.862M
YoY Change -8.78% 15.96%
Interest Expense $80.00K $50.00K
YoY Change 60.0%
% of Operating Profit 1.8% 1.03%
Other Income/Expense, Net
YoY Change
Pretax Income $4.513M $4.916M
YoY Change -8.2% 15.97%
Income Tax $1.000M $1.063M
% Of Pretax Income 22.16% 21.62%
Net Earnings $3.513M $3.853M
YoY Change -8.82% 19.7%
Net Earnings / Revenue 12.34% 14.82%
Basic Earnings Per Share $0.18 $0.20
Diluted Earnings Per Share $0.17 $0.19
COMMON SHARES
Basic Shares Outstanding 19.64M 19.28M
Diluted Shares Outstanding 20.21M 20.18M

Balance Sheet

Concept 2019 Q1 2018 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $47.50M $45.40M
YoY Change 4.63% 75.97%
Cash & Equivalents $14.77M $22.78M
Short-Term Investments $32.70M $22.60M
Other Short-Term Assets $5.100M $3.600M
YoY Change 41.67% -23.4%
Inventory $27.40M $20.50M
Prepaid Expenses
Receivables $15.46M $14.51M
Other Receivables $0.00 $0.00
Total Short-Term Assets $95.42M $84.01M
YoY Change 13.58% 34.4%
LONG-TERM ASSETS
Property, Plant & Equipment $14.11M $12.17M
YoY Change 15.93% 31.16%
Goodwill $29.88M $23.81M
YoY Change 25.49% 0.77%
Intangibles $13.18M $7.806M
YoY Change 68.83% -18.04%
Long-Term Investments
YoY Change
Other Assets $210.0K $197.0K
YoY Change 6.6% 19.39%
Total Long-Term Assets $64.83M $45.40M
YoY Change 42.8% 3.14%
TOTAL ASSETS
Total Short-Term Assets $95.42M $84.01M
Total Long-Term Assets $64.83M $45.40M
Total Assets $160.3M $129.4M
YoY Change 23.83% 21.49%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.381M $1.440M
YoY Change 65.35% -35.14%
Accrued Expenses $13.37M $9.118M
YoY Change 46.65% 10.04%
Deferred Revenue $368.0K
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $19.39M $12.64M
YoY Change 53.34% 17.44%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $2.032M $1.121M
YoY Change 81.27% -49.0%
Total Long-Term Liabilities $2.032M $1.121M
YoY Change 81.27% -49.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $19.39M $12.64M
Total Long-Term Liabilities $2.032M $1.121M
Total Liabilities $27.16M $15.94M
YoY Change 70.41% 6.95%
SHAREHOLDERS EQUITY
Retained Earnings $47.67M $30.84M
YoY Change 54.6% 75.94%
Common Stock $99.88M $94.25M
YoY Change 5.97% 46557.43%
Preferred Stock
YoY Change
Treasury Stock (at cost) $10.37M $9.608M
YoY Change 7.93% 8.81%
Treasury Stock Shares $1.502M 1.480M shares
Shareholders Equity $133.1M $113.5M
YoY Change
Total Liabilities & Shareholders Equity $160.3M $129.4M
YoY Change 23.83% 21.49%

Cashflow Statement

Concept 2019 Q1 2018 Q1
OPERATING ACTIVITIES
Net Income $3.513M $3.853M
YoY Change -8.82% 19.7%
Depreciation, Depletion And Amortization $1.284M $1.036M
YoY Change 23.94% 5.82%
Cash From Operating Activities -$219.0K $3.751M
YoY Change -105.84% 51.25%
INVESTING ACTIVITIES
Capital Expenditures -$800.0K -$430.0K
YoY Change 86.05% -74.56%
Acquisitions
YoY Change
Other Investing Activities -$10.95M -$90.00K
YoY Change 12066.67%
Cash From Investing Activities -$11.76M -$521.0K
YoY Change 2156.43% -69.17%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net -$457.0K $292.0K
YoY Change -256.51% -64.35%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 424.0K 257.0K
YoY Change 64.98% -54.11%
NET CHANGE
Cash From Operating Activities -219.0K 3.751M
Cash From Investing Activities -11.76M -521.0K
Cash From Financing Activities 424.0K 257.0K
Net Change In Cash -11.55M 3.487M
YoY Change -431.26% 158.3%
FREE CASH FLOW
Cash From Operating Activities -$219.0K $3.751M
Capital Expenditures -$800.0K -$430.0K
Free Cash Flow $581.0K $4.181M
YoY Change -86.1% 0.26%

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CY2018Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
CY2019Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
5263000
CY2018Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
CY2019Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
514000
CY2019Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
6266000
CY2018Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
CY2019Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0525
CY2019Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y73D
CY2019Q1 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
6701000
CY2019Q1 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
1247000
CY2019Q1 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
1407000
CY2019Q1 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
1662000
CY2019Q1 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
1812000
CY2019Q1 us-gaap Operating Leases Future Minimum Payments Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear
1391000
CY2019Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
4649000
CY2018Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
4352000
CY2019Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
210000
CY2018Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
194000
CY2019Q1 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
69000
CY2018Q1 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
-45000
CY2019Q1 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-261000
CY2018Q1 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
328000
CY2019Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-192000
CY2018Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
283000
CY2019Q1 us-gaap Other Inventory Capitalized Costs
OtherInventoryCapitalizedCosts
2004000
CY2018Q4 us-gaap Other Inventory Capitalized Costs
OtherInventoryCapitalizedCosts
1817000
CY2019Q1 us-gaap Other Inventory Materials Supplies And Merchandise Under Consignment
OtherInventoryMaterialsSuppliesAndMerchandiseUnderConsignment
1800000
CY2018Q4 us-gaap Other Inventory Materials Supplies And Merchandise Under Consignment
OtherInventoryMaterialsSuppliesAndMerchandiseUnderConsignment
1700000
CY2019Q1 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
2032000
CY2018Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
2611000
CY2019Q1 us-gaap Other Sundry Liabilities Noncurrent
OtherSundryLiabilitiesNoncurrent
137000
CY2018Q4 us-gaap Other Sundry Liabilities Noncurrent
OtherSundryLiabilitiesNoncurrent
196000
CY2019Q1 us-gaap Payments For Previous Acquisition
PaymentsForPreviousAcquisition
33000
CY2018Q1 us-gaap Payments For Previous Acquisition
PaymentsForPreviousAcquisition
35000
CY2019Q1 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
802000
CY2018Q1 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
427000
CY2019Q1 us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
10954000
CY2018Q1 us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
94000
CY2019Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2018Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2019Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
3000000
CY2018Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
3000000
CY2019Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2018Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2019Q1 us-gaap Preferred Stock Value
PreferredStockValue
CY2018Q4 us-gaap Preferred Stock Value
PreferredStockValue
CY2019Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
3093000
CY2018Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
2922000
CY2019Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
457000
CY2018Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
292000
CY2019Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
14109000
CY2018Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
14102000
CY2019Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
121000
CY2018Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
73000
CY2019Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
2240000
CY2018Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1825000
CY2019Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
47672000
CY2018Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
45831000
CY2019Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
28479000
CY2018Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
25994000
CY2019Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
28479000
CY2018Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
25994000
CY2019Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
217000
CY2019Q1 us-gaap Share Based Compensation
ShareBasedCompensation
746000
CY2019Q1 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
7845000
CY2018Q1 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
7090000
CY2018Q1 us-gaap Share Based Compensation
ShareBasedCompensation
621000
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0
CY2019Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
68000
CY2019Q1 us-gaap Stock Issued During Period Shares Share Based Compensation
StockIssuedDuringPeriodSharesShareBasedCompensation
63000
CY2018Q1 us-gaap Stock Issued During Period Shares Share Based Compensation
StockIssuedDuringPeriodSharesShareBasedCompensation
35000
CY2019Q1 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
CY2018Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
293000
CY2019Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
479000
CY2019Q1 us-gaap Stockholders Equity
StockholdersEquity
133088000
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
130235000
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
109770000
CY2018Q1 us-gaap Stockholders Equity
StockholdersEquity
113470000
CY2019Q1 us-gaap Taxes Payable Current
TaxesPayableCurrent
2052000
CY2018Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
2927000
CY2019Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
1502437
CY2018Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
1501511
CY2019Q1 us-gaap Treasury Stock Value
TreasuryStockValue
10370000
CY2018Q4 us-gaap Treasury Stock Value
TreasuryStockValue
10349000
CY2018Q1 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
CY2019Q1 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
21000
CY2019Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
722000
CY2018Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
711000
CY2019Q1 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
CY2019Q1 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
14000
CY2019Q1 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
3000
CY2019Q1 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
CY2019Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
565000
CY2018Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
898000
CY2019Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
20205000
CY2018Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
20181000
CY2019Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
19640000
CY2018Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
19283000

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