$LMAT
LEMAITRE VASCULAR INC

2020 Q1 Form 10-Q Financial Statement

#000143774920010012 Filed on May 08, 2020

View on sec.gov

Income Statement

Concept 2020 Q1 2019 Q1 2018 Q4
Revenue $30.55M $28.48M $28.39M
YoY Change 7.28% 9.56% 8.55%
Cost Of Revenue $10.07M $9.015M $9.170M
YoY Change 11.68% 19.88% 16.08%
Gross Profit $20.48M $19.46M $19.22M
YoY Change 5.24% 5.36% 5.3%
Gross Profit Margin 67.05% 68.35% 67.7%
Selling, General & Admin $13.14M $12.79M $10.73M
YoY Change 2.71% 8.5% 8.27%
% of Gross Profit 64.13% 65.71% 55.83%
Research & Development $2.994M $2.240M $2.350M
YoY Change 33.66% 22.74% 48.73%
% of Gross Profit 14.62% 11.51% 12.23%
Depreciation & Amortization $1.538M $1.284M $1.210M
YoY Change 19.78% 23.94% 11.01%
% of Gross Profit 7.51% 6.6% 6.3%
Operating Expenses $16.13M $15.03M $13.63M
YoY Change 7.33% 10.41% 14.25%
Operating Profit $4.353M $4.435M $7.193M
YoY Change -1.85% -8.78% 13.8%
Interest Expense $0.00 $80.00K $60.00K
YoY Change -100.0% 60.0% 500.0%
% of Operating Profit 0.0% 1.8% 0.83%
Other Income/Expense, Net
YoY Change
Pretax Income $4.280M $4.513M $7.250M
YoY Change -5.16% -8.2% 14.53%
Income Tax $1.106M $1.000M $1.230M
% Of Pretax Income 25.84% 22.16% 16.97%
Net Earnings $3.174M $3.513M $6.025M
YoY Change -9.65% -8.82% 40.64%
Net Earnings / Revenue 10.39% 12.34% 21.22%
Basic Earnings Per Share $0.16 $0.18 $0.31
Diluted Earnings Per Share $0.16 $0.17 $0.30
COMMON SHARES
Basic Shares Outstanding 20.17M 19.64M 19.58M shares
Diluted Shares Outstanding 20.44M 20.21M

Balance Sheet

Concept 2020 Q1 2019 Q1 2018 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $30.60M $47.50M $48.00M
YoY Change -35.58% 4.63% 15.11%
Cash & Equivalents $10.94M $14.77M $26.32M
Short-Term Investments $19.70M $32.70M $21.70M
Other Short-Term Assets $7.100M $5.100M $4.700M
YoY Change 39.22% 41.67% 6.82%
Inventory $35.40M $27.40M $25.60M
Prepaid Expenses
Receivables $16.63M $15.46M $15.72M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $89.72M $95.42M $94.02M
YoY Change -5.97% 13.58% 17.07%
LONG-TERM ASSETS
Property, Plant & Equipment $14.79M $14.11M $14.10M
YoY Change 4.83% 15.93% 13.93%
Goodwill $39.77M $29.88M $29.87M
YoY Change 33.11% 25.49% 25.26%
Intangibles $24.06M $13.18M $13.69M
YoY Change 82.56% 68.83% 66.29%
Long-Term Investments
YoY Change
Other Assets $260.0K $210.0K $194.0K
YoY Change 23.81% 6.6% 8.99%
Total Long-Term Assets $94.84M $64.83M $59.07M
YoY Change 46.27% 42.8% 28.38%
TOTAL ASSETS
Total Short-Term Assets $89.72M $95.42M $94.02M
Total Long-Term Assets $94.84M $64.83M $59.07M
Total Assets $184.6M $160.3M $153.1M
YoY Change 15.17% 23.83% 21.19%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.381M $2.381M $1.732M
YoY Change -42.0% 65.35% 12.25%
Accrued Expenses $11.02M $13.37M $15.85M
YoY Change -17.63% 46.65% 62.2%
Deferred Revenue $368.0K $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 $16.59M $19.39M $19.76M
YoY Change -14.4% 53.34% 49.81%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $4.237M $2.032M $2.611M
YoY Change 108.51% 81.27% 119.78%
Total Long-Term Liabilities $4.237M $2.032M $2.611M
YoY Change 108.51% 81.27% 119.78%
TOTAL LIABILITIES
Total Short-Term Liabilities $16.59M $19.39M $19.76M
Total Long-Term Liabilities $4.237M $2.032M $2.611M
Total Liabilities $35.72M $27.16M $22.85M
YoY Change 31.5% 70.41% 38.06%
SHAREHOLDERS EQUITY
Retained Earnings $58.29M $47.67M $45.83M
YoY Change 22.26% 54.6% 61.76%
Common Stock $107.2M $99.88M $98.65M
YoY Change 7.29% 5.97% 5.7%
Preferred Stock
YoY Change
Treasury Stock (at cost) $11.09M $10.37M $10.35M
YoY Change 6.93% 7.93% 7.71%
Treasury Stock Shares $1.524M $1.502M $1.502M
Shareholders Equity $148.8M $133.1M $130.2M
YoY Change
Total Liabilities & Shareholders Equity $184.6M $160.3M $153.1M
YoY Change 15.17% 23.83% 21.19%

Cashflow Statement

Concept 2020 Q1 2019 Q1 2018 Q4
OPERATING ACTIVITIES
Net Income $3.174M $3.513M $6.025M
YoY Change -9.65% -8.82% 40.64%
Depreciation, Depletion And Amortization $1.538M $1.284M $1.210M
YoY Change 19.78% 23.94% 11.01%
Cash From Operating Activities $1.189M -$219.0K $6.570M
YoY Change -642.92% -105.84% -2.95%
INVESTING ACTIVITIES
Capital Expenditures -$860.0K -$800.0K -$1.290M
YoY Change 7.5% 86.05% -21.34%
Acquisitions $59.00K
YoY Change
Other Investing Activities $840.0K -$10.95M $2.550M
YoY Change -107.67% 12066.67% -111.31%
Cash From Investing Activities -$25.00K -$11.76M $1.250M
YoY Change -99.79% 2156.43% -105.17%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net -$176.0K -$457.0K
YoY Change -61.49% -256.51%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$1.741M 424.0K -1.310M
YoY Change -510.61% 64.98% 22.43%
NET CHANGE
Cash From Operating Activities $1.189M -219.0K 6.570M
Cash From Investing Activities -$25.00K -11.76M 1.250M
Cash From Financing Activities -$1.741M 424.0K -1.310M
Net Change In Cash -$842.0K -11.55M 6.510M
YoY Change -92.71% -431.26% -135.23%
FREE CASH FLOW
Cash From Operating Activities $1.189M -$219.0K $6.570M
Capital Expenditures -$860.0K -$800.0K -$1.290M
Free Cash Flow $2.049M $581.0K $7.860M
YoY Change 252.67% -86.1% -6.54%

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CY2020Q1 us-gaap Number Of Operating Segments
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1
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591000
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14883000
CY2019Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
15208000
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OperatingLeaseWeightedAverageDiscountRatePercent
0.0525
CY2019Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0525
CY2020Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P8Y219D
CY2019Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y73D
CY2020Q1 us-gaap Other Accrued Liabilities Current
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CY2019Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
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CY2020Q1 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
-310000
CY2019Q1 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
69000
CY2020Q1 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-1208000
CY2019Q1 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-261000
CY2019Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
57029000
CY2020Q1 us-gaap Other Inventory Capitalized Costs
OtherInventoryCapitalizedCosts
5208000
CY2019Q4 us-gaap Other Inventory Capitalized Costs
OtherInventoryCapitalizedCosts
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CY2020Q1 us-gaap Other Inventory Materials Supplies And Merchandise Under Consignment
OtherInventoryMaterialsSuppliesAndMerchandiseUnderConsignment
1900000
CY2019Q4 us-gaap Other Inventory Materials Supplies And Merchandise Under Consignment
OtherInventoryMaterialsSuppliesAndMerchandiseUnderConsignment
1900000
CY2020Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-1518000
CY2019Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
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CY2020Q1 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
4237000
CY2019Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
4215000
CY2020Q1 us-gaap Other Sundry Liabilities Noncurrent
OtherSundryLiabilitiesNoncurrent
160000
CY2019Q4 us-gaap Other Sundry Liabilities Noncurrent
OtherSundryLiabilitiesNoncurrent
166000
CY2020Q1 us-gaap Payment For Contingent Consideration Liability Financing Activities
PaymentForContingentConsiderationLiabilityFinancingActivities
CY2019Q1 us-gaap Payment For Contingent Consideration Liability Financing Activities
PaymentForContingentConsiderationLiabilityFinancingActivities
33000
CY2020Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
57000
CY2019Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
CY2020Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
1917000
CY2019Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
CY2020Q1 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
59000
CY2019Q1 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
CY2020Q1 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
863000
CY2019Q1 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
802000
CY2020Q1 us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
2103000
CY2019Q1 us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
10954000
CY2020Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2019Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2020Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
3000000
CY2019Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
3000000
CY2020Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2019Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2020Q1 us-gaap Preferred Stock Value
PreferredStockValue
CY2019Q4 us-gaap Preferred Stock Value
PreferredStockValue
CY2020Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
1881000
CY2019Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
3312000
CY2020Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
233000
CY2019Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
457000
CY2020Q1 us-gaap Proceeds From Sale Of Short Term Investments
ProceedsFromSaleOfShortTermInvestments
3000000
CY2019Q1 us-gaap Proceeds From Sale Of Short Term Investments
ProceedsFromSaleOfShortTermInvestments
CY2020Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
14791000
CY2019Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
14854000
CY2020Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
71000
CY2019Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
121000
CY2019Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
2240000
CY2020Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
58286000
CY2020Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
30551000
CY2019Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
28479000
CY2020Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
30551000
CY2019Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
28479000
CY2020Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
149000
CY2019Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
217000
CY2020Q1 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
7945000
CY2019Q1 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
7845000
CY2020Q1 us-gaap Share Based Compensation
ShareBasedCompensation
779000
CY2019Q1 us-gaap Share Based Compensation
ShareBasedCompensation
746000
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0
CY2020Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
13000
CY2019Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
68000
CY2020Q1 us-gaap Stock Issued During Period Shares Share Based Compensation
StockIssuedDuringPeriodSharesShareBasedCompensation
23000
CY2019Q1 us-gaap Stock Issued During Period Shares Share Based Compensation
StockIssuedDuringPeriodSharesShareBasedCompensation
63000
CY2019Q1 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
CY2020Q1 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
CY2019Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
479000
CY2020Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
233000
CY2020Q1 us-gaap Stockholders Equity
StockholdersEquity
148835000
CY2019Q4 us-gaap Stockholders Equity
StockholdersEquity
148141000
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
130235000
CY2019Q1 us-gaap Stockholders Equity
StockholdersEquity
133088000
CY2020Q1 us-gaap Taxes Payable Current
TaxesPayableCurrent
1073000
CY2019Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
1003000
CY2020Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
1523636
CY2019Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
1522035
CY2020Q1 us-gaap Treasury Stock Value
TreasuryStockValue
11089000
CY2019Q4 us-gaap Treasury Stock Value
TreasuryStockValue
11032000
CY2019Q1 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
21000
CY2020Q1 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
57000
CY2020Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
780000
CY2019Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
848000
CY2020Q1 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
9000
CY2020Q1 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
59000
CY2020Q1 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
CY2020Q1 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
CY2020Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
270000
CY2019Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
565000
CY2020Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
20438000
CY2019Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
20205000
CY2020Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
20168000
CY2019Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
19640000

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