$MMSI
MERIT MEDICAL SYSTEMS INC Stock $mmsi

$mmsi Overview Financials Valuation SEC Filings Company Website

2017 Q1 Form 10-Q Financial Statement

#000085698217000019 Filed on May 10, 2017

Income Statement

Concept	2017 Q1	2016 Q1
Revenue	$171.1M	$138.1M
YoY Change	23.89%	6.56%
Cost Of Revenue	$95.13M	$77.98M
YoY Change	21.99%	5.1%
Gross Profit	$75.94M	$60.10M
YoY Change	26.36%	8.52%
Gross Profit Margin	44.39%	43.53%
Selling, General & Admin	$57.77M	$41.70M
YoY Change	38.53%	13.06%
% of Gross Profit	76.07%	69.39%
Research & Development	$12.53M	$10.59M
YoY Change	18.29%	9.47%
% of Gross Profit	16.49%	17.62%
Depreciation & Amortization	$12.76M	$9.705M
YoY Change	31.47%	7.02%
% of Gross Profit	16.8%	16.15%
Operating Expenses	$70.33M	$52.39M
YoY Change	34.24%	12.24%
Operating Profit	$5.609M	$7.706M
YoY Change	-27.21%	-11.47%
Interest Expense	$2.706M	$1.329M
YoY Change	103.61%	-15.57%
% of Operating Profit	48.24%	17.25%
Other Income/Expense, Net	$9.884M	-$1.800M
YoY Change	-649.11%	45.04%
Pretax Income	$15.49M	$5.906M
YoY Change	162.33%	-32.15%
Income Tax	$690.0K	$1.555M
% Of Pretax Income	4.45%	26.33%
Net Earnings	$14.80M	$4.351M
YoY Change	240.22%	-15.91%
Net Earnings / Revenue	8.65%	3.15%
Basic Earnings Per Share	$0.33	$0.10
Diluted Earnings Per Share	$0.32	$0.10
COMMON SHARES
Basic Shares Outstanding	44.83M shares	44.28M shares
Diluted Shares Outstanding	45.82M shares	44.58M shares

Balance Sheet

Concept	2017 Q1	2016 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments	$26.50M	$5.200M
YoY Change	409.62%	-47.47%
Cash & Equivalents	$26.46M	$5.162M
Short-Term Investments
Other Short-Term Assets	$10.40M	$16.20M
YoY Change	-35.8%	28.57%
Inventory	$134.3M	$110.7M
Prepaid Expenses
Receivables	$95.25M	$71.57M
Other Receivables	$5.700M	$6.200M
Total Short-Term Assets	$272.2M	$210.0M
YoY Change	29.59%	11.76%
LONG-TERM ASSETS
Property, Plant & Equipment	$283.4M	$272.9M
YoY Change	3.85%	11.31%
Goodwill	$219.9M	$187.0M
YoY Change	17.57%	1.43%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets	$29.10M	$13.66M
YoY Change	112.95%	-12.71%
Total Long-Term Assets	$743.0M	$593.4M
YoY Change	25.21%	7.48%
TOTAL ASSETS
Total Short-Term Assets	$272.2M	$210.0M
Total Long-Term Assets	$743.0M	$593.4M
Total Assets	$1.015B	$803.4M
YoY Change	26.36%	8.57%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$32.60M	$39.10M
YoY Change	-16.62%	59.59%
Accrued Expenses	$52.88M	$33.87M
YoY Change	56.13%	-1.84%
Deferred Revenue
YoY Change
Short-Term Debt	$7.000M	$0.00
YoY Change
Long-Term Debt Due	$17.00M	$10.00M
YoY Change	69.98%	0.0%
Total Short-Term Liabilities	$105.1M	$85.32M
YoY Change	23.18%	18.93%
LONG-TERM LIABILITIES
Long-Term Debt	$220.4M	$218.4M
YoY Change	0.92%	7.65%
Other Long-Term Liabilities	$4.505M	$4.632M
YoY Change	-2.74%	39.81%
Total Long-Term Liabilities	$224.9M	$223.0M
YoY Change	0.84%	8.17%
TOTAL LIABILITIES
Total Short-Term Liabilities	$105.1M	$85.32M
Total Long-Term Liabilities	$224.9M	$223.0M
Total Liabilities	$362.8M	$331.1M
YoY Change	9.59%	11.36%
SHAREHOLDERS EQUITY
Retained Earnings	$308.7M	$278.1M
YoY Change	10.99%	9.01%
Common Stock	$344.5M	$199.0M
YoY Change	73.11%	3.25%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	$652.3M	$472.3M
YoY Change
Total Liabilities & Shareholders Equity	$1.015B	$803.4M
YoY Change	26.36%	8.57%

Cashflow Statement

Concept	2017 Q1	2016 Q1
OPERATING ACTIVITIES
Net Income	$14.80M	$4.351M
YoY Change	240.22%	-15.91%
Depreciation, Depletion And Amortization	$12.76M	$9.705M
YoY Change	31.47%	7.02%
Cash From Operating Activities	$15.18M	$11.58M
YoY Change	31.04%	-39.9%
INVESTING ACTIVITIES
Capital Expenditures	$10.18M	$10.99M
YoY Change	-7.4%	15.79%
Acquisitions	$47.46M	$21.50M
YoY Change	120.75%	1620.0%
Other Investing Activities	-$47.50M	-$20.40M
YoY Change	132.84%	-3500.0%
Cash From Investing Activities	-$58.30M	-$31.88M
YoY Change	82.86%	238.8%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net	$136.6M	$557.0K
YoY Change	24424.24%	-86.15%
Debt Paid & Issued, Net	$170.7M	$34.38M
YoY Change	396.63%	-20.82%
Cash From Financing Activities	$50.72M	$21.20M
YoY Change	139.31%	-391.26%
NET CHANGE
Cash From Operating Activities	$15.18M	$11.58M
Cash From Investing Activities	-$58.30M	-$31.88M
Cash From Financing Activities	$50.72M	$21.20M
Net Change In Cash	$7.595M	$894.0K
YoY Change	749.55%	-65.4%
FREE CASH FLOW
Cash From Operating Activities	$15.18M	$11.58M
Capital Expenditures	$10.18M	$10.99M
Free Cash Flow	$5.000M	$592.0K
YoY Change	744.59%	-93.95%

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
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CY2017Q1	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--03-31
CY2017Q1	dei	Document Fiscal Period Focus DocumentFiscalPeriodFocus	Q1
CY2017Q1	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2017
CY2017Q1	dei	Document Period End Date DocumentPeriodEndDate	2017-03-31
CY2017Q1	dei	Document Type DocumentType	10-Q
CY2017Q1	dei	Entity Central Index Key EntityCentralIndexKey	0000856982
CY2017Q2	dei	Entity Common Stock Shares Outstanding EntityCommonStockSharesOutstanding	49916915	shares
CY2017Q1	dei	Entity Current Reporting Status EntityCurrentReportingStatus	Yes
CY2017Q1	dei	Entity Filer Category EntityFilerCategory	Large Accelerated Filer
CY2016Q2	dei	Entity Public Float EntityPublicFloat	844073573	USD
CY2017Q1	dei	Entity Registrant Name EntityRegistrantName	MERIT MEDICAL SYSTEMS INC
CY2017Q1	dei	Entity Voluntary Filers EntityVoluntaryFilers	No
CY2017Q1	dei	Entity Well Known Seasoned Issuer EntityWellKnownSeasonedIssuer	No
CY2016Q4	mmsi	Accumulated Other Comprehensive Income Loss Cumulative Changes In Net Gain Loss From Cash Flow Hedges Tax AccumulatedOtherComprehensiveIncomeLossCumulativeChangesInNetGainLossFromCashFlowHedgesTax	1941000	USD
CY2016Q1	mmsi	Business Combination Contingent Consideration Arrangements Contingent Consideration Benefit BusinessCombinationContingentConsiderationArrangementsContingentConsiderationBenefit	-102000	USD
CY2017Q1	mmsi	Business Combination Contingent Consideration Arrangements Contingent Consideration Benefit BusinessCombinationContingentConsiderationArrangementsContingentConsiderationBenefit	-37000	USD
CY2016Q1	mmsi	Contingent Receivable Receivedin Exchange For Saleof Cost Method Investment ContingentReceivableReceivedinExchangeForSaleofCostMethodInvestment	681000	USD
CY2017Q1	mmsi	Contingent Receivable Receivedin Exchange For Saleof Cost Method Investment ContingentReceivableReceivedinExchangeForSaleofCostMethodInvestment	0	USD
CY2016Q4	mmsi	Intangible Assets Net Goodwill And Other Assets Noncurrent IntangibleAssetsNetGoodwillAndOtherAssetsNoncurrent	422807000	USD
CY2017Q1	mmsi	Intangible Assets Net Goodwill And Other Assets Noncurrent IntangibleAssetsNetGoodwillAndOtherAssetsNoncurrent	459646000	USD
CY2016Q4	mmsi	Legal Fees In Respondingto Department Of Justice Inquiry LegalFeesInRespondingtoDepartmentOfJusticeInquiry	1000000	USD
CY2017Q1	mmsi	Legal Fees In Respondingto Department Of Justice Inquiry LegalFeesInRespondingtoDepartmentOfJusticeInquiry	4800000	USD
CY2016Q1	mmsi	Loss On Sale And Or Abandonment Of Property And Equipment LossOnSaleAndOrAbandonmentOfPropertyAndEquipment	29000	USD
CY2017Q1	mmsi	Loss On Sale And Or Abandonment Of Property And Equipment LossOnSaleAndOrAbandonmentOfPropertyAndEquipment	212000	USD
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CY2016Q4	us-gaap	Accounts Payable Trade Current AccountsPayableTradeCurrent	30619000	USD
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CY2016Q4	us-gaap	Accrued Income Taxes Current AccruedIncomeTaxesCurrent	2193000	USD
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CY2017Q1	us-gaap	Increase Decrease In Accrued Liabilities IncreaseDecreaseInAccruedLiabilities	3285000	USD
CY2016Q1	us-gaap	Increase Decrease In Deferred Compensation IncreaseDecreaseInDeferredCompensation	-305000	USD
CY2017Q1	us-gaap	Increase Decrease In Deferred Compensation IncreaseDecreaseInDeferredCompensation	187000	USD
CY2016Q1	us-gaap	Increase Decrease In Due From Employee Current IncreaseDecreaseInDueFromEmployeeCurrent	43000	USD
CY2017Q1	us-gaap	Increase Decrease In Due From Employee Current IncreaseDecreaseInDueFromEmployeeCurrent	-36000	USD
CY2016Q1	us-gaap	Increase Decrease In Due To Employees Current IncreaseDecreaseInDueToEmployeesCurrent	-388000	USD
CY2017Q1	us-gaap	Increase Decrease In Due To Employees Current IncreaseDecreaseInDueToEmployeesCurrent	-86000	USD
CY2016Q1	us-gaap	Increase Decrease In Income Taxes Receivable IncreaseDecreaseInIncomeTaxesReceivable	-424000	USD
CY2017Q1	us-gaap	Increase Decrease In Income Taxes Receivable IncreaseDecreaseInIncomeTaxesReceivable	350000	USD
CY2016Q1	us-gaap	Increase Decrease In Inventories IncreaseDecreaseInInventories	2272000	USD
CY2017Q1	us-gaap	Increase Decrease In Inventories IncreaseDecreaseInInventories	-844000	USD
CY2016Q1	us-gaap	Increase Decrease In Other Operating Assets IncreaseDecreaseInOtherOperatingAssets	-109000	USD
CY2017Q1	us-gaap	Increase Decrease In Other Operating Assets IncreaseDecreaseInOtherOperatingAssets	1172000	USD
CY2016Q1	us-gaap	Increase Decrease In Other Operating Liabilities IncreaseDecreaseInOtherOperatingLiabilities	-76000	USD
CY2017Q1	us-gaap	Increase Decrease In Other Operating Liabilities IncreaseDecreaseInOtherOperatingLiabilities	790000	USD
CY2016Q1	us-gaap	Increase Decrease In Other Receivables IncreaseDecreaseInOtherReceivables	-1367000	USD
CY2017Q1	us-gaap	Increase Decrease In Other Receivables IncreaseDecreaseInOtherReceivables	-374000	USD
CY2016Q1	us-gaap	Increase Decrease In Prepaid Deferred Expense And Other Assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets	498000	USD
CY2017Q1	us-gaap	Increase Decrease In Prepaid Deferred Expense And Other Assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets	-229000	USD
CY2016Q1	us-gaap	Increase Decrease In Prepaid Taxes IncreaseDecreaseInPrepaidTaxes	38000	USD
CY2017Q1	us-gaap	Increase Decrease In Prepaid Taxes IncreaseDecreaseInPrepaidTaxes	89000	USD
CY2016Q1	us-gaap	Incremental Common Shares Attributable To Share Based Payment Arrangements IncrementalCommonSharesAttributableToShareBasedPaymentArrangements	304000	shares
CY2017Q1	us-gaap	Incremental Common Shares Attributable To Share Based Payment Arrangements IncrementalCommonSharesAttributableToShareBasedPaymentArrangements	990000	shares
CY2016Q1	us-gaap	Interest Expense InterestExpense	1329000	USD
CY2017Q1	us-gaap	Interest Expense InterestExpense	2706000	USD
CY2016Q1	us-gaap	Interest Paid Capitalized InterestPaidCapitalized	91000	USD
CY2017Q1	us-gaap	Interest Paid Capitalized InterestPaidCapitalized	119000	USD
CY2016Q1	us-gaap	Interest Paid Net InterestPaidNet	1378000	USD
CY2017Q1	us-gaap	Interest Paid Net InterestPaidNet	2743000	USD
CY2016Q4	us-gaap	Inventory Finished Goods Net Of Reserves InventoryFinishedGoodsNetOfReserves	63852000	USD
CY2017Q1	us-gaap	Inventory Finished Goods Net Of Reserves InventoryFinishedGoodsNetOfReserves	69130000	USD
CY2016Q4	us-gaap	Inventory Net InventoryNet	120695000	USD
CY2017Q1	us-gaap	Inventory Net InventoryNet	134310000	USD
CY2016Q4	us-gaap	Inventory Raw Materials Net Of Reserves InventoryRawMaterialsNetOfReserves	45835000	USD
CY2017Q1	us-gaap	Inventory Raw Materials Net Of Reserves InventoryRawMaterialsNetOfReserves	49456000	USD
CY2016Q4	us-gaap	Inventory Work In Process Net Of Reserves InventoryWorkInProcessNetOfReserves	11008000	USD
CY2017Q1	us-gaap	Inventory Work In Process Net Of Reserves InventoryWorkInProcessNetOfReserves	15724000	USD
CY2016Q1	us-gaap	Investment Income Interest InvestmentIncomeInterest	9000	USD
CY2017Q1	us-gaap	Investment Income Interest InvestmentIncomeInterest	83000	USD
CY2016Q4	us-gaap	Land Land	19379000	USD
CY2017Q1	us-gaap	Land Land	19454000	USD
CY2016Q4	us-gaap	Leasehold Improvements Gross LeaseholdImprovementsGross	30413000	USD
CY2017Q1	us-gaap	Leasehold Improvements Gross LeaseholdImprovementsGross	30633000	USD
CY2016Q4	us-gaap	Liabilities Liabilities	444614000	USD
CY2017Q1	us-gaap	Liabilities Liabilities	362839000	USD
CY2016Q4	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	942803000	USD
CY2017Q1	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	1015181000	USD
CY2016Q4	us-gaap	Liabilities Current LiabilitiesCurrent	88331000	USD
CY2017Q1	us-gaap	Liabilities Current LiabilitiesCurrent	105097000	USD
CY2016Q4	us-gaap	Liability For Uncertain Tax Positions Noncurrent LiabilityForUncertainTaxPositionsNoncurrent	438000	USD
CY2017Q1	us-gaap	Liability For Uncertain Tax Positions Noncurrent LiabilityForUncertainTaxPositionsNoncurrent	438000	USD
CY2016Q4	us-gaap	Long Term Debt LongTermDebt	324373000	USD
CY2017Q1	us-gaap	Long Term Debt LongTermDebt	237406000	USD
CY2016Q4	us-gaap	Long Term Debt Current LongTermDebtCurrent	10000000	USD
CY2017Q1	us-gaap	Long Term Debt Current LongTermDebtCurrent	16998000	USD
CY2016Q4	us-gaap	Long Term Debt Maturities Repayments Of Principal In Next Twelve Months LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths	7500000	USD
CY2016Q4	us-gaap	Long Term Debt Maturities Repayments Of Principal In Year Five LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive	178500000	USD
CY2016Q4	us-gaap	Long Term Debt Maturities Repayments Of Principal In Year Four LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour	17500000	USD
CY2016Q4	us-gaap	Long Term Debt Maturities Repayments Of Principal In Year Three LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree	15000000	USD
CY2016Q4	us-gaap	Long Term Debt Maturities Repayments Of Principal In Year Two LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo	19498000	USD
CY2016Q4	us-gaap	Long Term Debt Noncurrent LongTermDebtNoncurrent	314373000	USD
CY2017Q1	us-gaap	Long Term Debt Noncurrent LongTermDebtNoncurrent	220408000	USD
CY2016Q4	us-gaap	Machinery And Equipment Gross MachineryAndEquipmentGross	178110000	USD
CY2017Q1	us-gaap	Machinery And Equipment Gross MachineryAndEquipmentGross	186323000	USD
CY2016Q1	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	21195000	USD
CY2017Q1	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	50721000	USD
CY2016Q1	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-31884000	USD
CY2017Q1	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-58304000	USD
CY2016Q1	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	11583000	USD
CY2017Q1	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	15178000	USD
CY2016Q1	us-gaap	Net Income Loss NetIncomeLoss	4351000	USD
CY2017Q1	us-gaap	Net Income Loss NetIncomeLoss	14803000	USD
CY2016Q1	us-gaap	Net Income Loss Available To Common Stockholders Basic NetIncomeLossAvailableToCommonStockholdersBasic	4351000	USD
CY2017Q1	us-gaap	Net Income Loss Available To Common Stockholders Basic NetIncomeLossAvailableToCommonStockholdersBasic	14803000	USD
CY2016Q1	us-gaap	Net Income Loss Available To Common Stockholders Diluted NetIncomeLossAvailableToCommonStockholdersDiluted	4351000	USD
CY2017Q1	us-gaap	Net Income Loss Available To Common Stockholders Diluted NetIncomeLossAvailableToCommonStockholdersDiluted	14803000	USD
CY2016Q1	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	-1800000	USD
CY2017Q1	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	9884000	USD
CY2016Q4	us-gaap	Nontrade Receivables Current NontradeReceivablesCurrent	5445000	USD
CY2017Q1	us-gaap	Nontrade Receivables Current NontradeReceivablesCurrent	4902000	USD
CY2017Q1	us-gaap	Number Of Operating Segments NumberOfOperatingSegments	2	segment
CY2016Q1	us-gaap	Operating Expenses OperatingExpenses	52394000	USD
CY2017Q1	us-gaap	Operating Expenses OperatingExpenses	70333000	USD
CY2016Q1	us-gaap	Operating Income Loss OperatingIncomeLoss	7706000	USD
CY2017Q1	us-gaap	Operating Income Loss OperatingIncomeLoss	5609000	USD
CY2016Q1	us-gaap	Other Amortization Of Deferred Charges OtherAmortizationOfDeferredCharges	-43000	USD
CY2017Q1	us-gaap	Other Amortization Of Deferred Charges OtherAmortizationOfDeferredCharges	-40000	USD
CY2016	us-gaap	Other Asset Impairment Charges OtherAssetImpairmentCharges	0	USD
CY2017Q1	us-gaap	Other Asset Impairment Charges OtherAssetImpairmentCharges	18000	USD
CY2016Q4	us-gaap	Other Assets Noncurrent OtherAssetsNoncurrent	28012000	USD
CY2017Q1	us-gaap	Other Assets Noncurrent OtherAssetsNoncurrent	29098000	USD
CY2016Q1	us-gaap	Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Before Reclassification And Tax OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossBeforeReclassificationAndTax	1228000	USD
CY2017Q1	us-gaap	Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Before Reclassification And Tax OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossBeforeReclassificationAndTax	780000	USD
CY2016Q1	us-gaap	Other Comprehensive Income Foreign Currency Translation Gain Loss Arising During Period Tax OtherComprehensiveIncomeForeignCurrencyTranslationGainLossArisingDuringPeriodTax	90000	USD
CY2017Q1	us-gaap	Other Comprehensive Income Foreign Currency Translation Gain Loss Arising During Period Tax OtherComprehensiveIncomeForeignCurrencyTranslationGainLossArisingDuringPeriodTax	252000	USD
CY2016Q1	us-gaap	Other Comprehensive Income Loss Net Of Tax OtherComprehensiveIncomeLossNetOfTax	693000	USD
CY2017Q1	us-gaap	Other Comprehensive Income Loss Net Of Tax OtherComprehensiveIncomeLossNetOfTax	1039000	USD
CY2016Q1	us-gaap	Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Before Tax OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodBeforeTax	-729000	USD
CY2017Q1	us-gaap	Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Before Tax OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodBeforeTax	837000	USD
CY2016Q1	us-gaap	Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Tax OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax	-284000	USD
CY2017Q1	us-gaap	Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Tax OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax	326000	USD
CY2016Q4	us-gaap	Other Deferred Credits Noncurrent OtherDeferredCreditsNoncurrent	2550000	USD
CY2017Q1	us-gaap	Other Deferred Credits Noncurrent OtherDeferredCreditsNoncurrent	2510000	USD
CY2016Q4	us-gaap	Other Liabilities Noncurrent OtherLiabilitiesNoncurrent	3730000	USD
CY2017Q1	us-gaap	Other Liabilities Noncurrent OtherLiabilitiesNoncurrent	4505000	USD
CY2016Q1	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	-480000	USD
CY2017Q1	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	264000	USD
CY2017Q1	us-gaap	Payments Of Stock Issuance Costs PaymentsOfStockIssuanceCosts	833000	USD
CY2016Q1	us-gaap	Payments Of Stock Issuance Costs PaymentsOfStockIssuanceCosts	0	USD
CY2017Q1	us-gaap	Payments Of Stock Issuance Costs PaymentsOfStockIssuanceCosts	833000	USD
CY2016Q1	us-gaap	Payments To Acquire Businesses Net Of Cash Acquired PaymentsToAcquireBusinessesNetOfCashAcquired	21500000	USD
CY2017Q1	us-gaap	Payments To Acquire Businesses Net Of Cash Acquired PaymentsToAcquireBusinessesNetOfCashAcquired	47461000	USD
CY2016Q1	us-gaap	Payments To Acquire Intangible Assets PaymentsToAcquireIntangibleAssets	482000	USD
CY2017Q1	us-gaap	Payments To Acquire Intangible Assets PaymentsToAcquireIntangibleAssets	668000	USD
CY2016Q1	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	10991000	USD
CY2017Q1	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	10178000	USD
CY2016Q4	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	5000000	shares
CY2017Q1	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	5000000	shares
CY2016Q4	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued	0	shares
CY2017Q1	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued	0	shares
CY2016Q4	us-gaap	Preferred Stock Value PreferredStockValue		USD
CY2017Q1	us-gaap	Preferred Stock Value PreferredStockValue		USD
CY2016Q4	us-gaap	Prepaid Expense And Other Assets Current PrepaidExpenseAndOtherAssetsCurrent	6226000	USD
CY2017Q1	us-gaap	Prepaid Expense And Other Assets Current PrepaidExpenseAndOtherAssetsCurrent	7778000	USD
CY2016Q4	us-gaap	Prepaid Taxes PrepaidTaxes	2525000	USD
CY2017Q1	us-gaap	Prepaid Taxes PrepaidTaxes	2604000	USD
CY2017Q1	us-gaap	Proceeds From Issuance Of Common Stock ProceedsFromIssuanceOfCommonStock	136500000	USD
CY2016Q1	us-gaap	Proceeds From Issuance Of Common Stock ProceedsFromIssuanceOfCommonStock	557000	USD
CY2017Q1	us-gaap	Proceeds From Issuance Of Common Stock ProceedsFromIssuanceOfCommonStock	138569000	USD
CY2016Q1	us-gaap	Proceeds From Issuance Of Long Term Debt ProceedsFromIssuanceOfLongTermDebt	55184000	USD
CY2017Q1	us-gaap	Proceeds From Issuance Of Long Term Debt ProceedsFromIssuanceOfLongTermDebt	83723000	USD
CY2016Q1	us-gaap	Proceeds From Payments For Other Financing Activities ProceedsFromPaymentsForOtherFinancingActivities	-167000	USD
CY2017Q1	us-gaap	Proceeds From Payments For Other Financing Activities ProceedsFromPaymentsForOtherFinancingActivities	-15000	USD
CY2016Q4	us-gaap	Property Plant And Equipment Gross PropertyPlantAndEquipmentGross	438634000	USD
CY2016Q1	us-gaap	Proceeds From Sale Of Other Assets Investing Activities ProceedsFromSaleOfOtherAssetsInvestingActivities	1089000	USD
CY2017Q1	us-gaap	Proceeds From Sale Of Other Assets Investing Activities ProceedsFromSaleOfOtherAssetsInvestingActivities	0	USD
CY2016Q1	us-gaap	Proceeds From Sale Of Property Plant And Equipment ProceedsFromSaleOfPropertyPlantAndEquipment	0	USD
CY2017Q1	us-gaap	Proceeds From Sale Of Property Plant And Equipment ProceedsFromSaleOfPropertyPlantAndEquipment	3000	USD
CY2017Q1	us-gaap	Property Plant And Equipment Gross PropertyPlantAndEquipmentGross	452036000	USD
CY2016Q4	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	276573000	USD
CY2017Q1	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	283384000	USD
CY2016Q1	us-gaap	Repayments Of Long Term Debt RepaymentsOfLongTermDebt	34376000	USD
CY2017Q1	us-gaap	Repayments Of Long Term Debt RepaymentsOfLongTermDebt	170723000	USD
CY2016Q1	us-gaap	Research And Development Expense ResearchAndDevelopmentExpense	10588000	USD
CY2017Q1	us-gaap	Research And Development Expense ResearchAndDevelopmentExpense	12525000	USD
CY2016Q4	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	293885000	USD
CY2017Q1	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	308688000	USD
CY2016Q1	us-gaap	Sales Revenue Goods Net SalesRevenueGoodsNet	138077000	USD
CY2017Q1	us-gaap	Sales Revenue Goods Net SalesRevenueGoodsNet	171069000	USD
CY2016Q1	us-gaap	Selling General And Administrative Expense SellingGeneralAndAdministrativeExpense	41704000	USD
CY2017Q1	us-gaap	Selling General And Administrative Expense SellingGeneralAndAdministrativeExpense	57771000	USD
CY2016Q1	us-gaap	Share Based Compensation ShareBasedCompensation	624000	USD
CY2017Q1	us-gaap	Share Based Compensation ShareBasedCompensation	577000	USD
CY2016Q1	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate	0
CY2016Q1	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum	0.3706
CY2016Q1	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum	0.0140
CY2016Q1	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod	563500	shares
CY2016Q1	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1 SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1	P5Y0M0D
CY2016Q4	us-gaap	Short Term Borrowings ShortTermBorrowings	0	USD
CY2017Q1	us-gaap	Short Term Borrowings ShortTermBorrowings	6998000	USD
CY2017Q1	us-gaap	Short Term Borrowings ShortTermBorrowings	7000000	USD
CY2017Q1	us-gaap	Short Term Debt Percentage Bearing Variable Interest Rate ShortTermDebtPercentageBearingVariableInterestRate	0.02064
CY2016Q4	us-gaap	Stockholders Equity StockholdersEquity	498189000	USD
CY2017Q1	us-gaap	Stockholders Equity StockholdersEquity	652342000	USD
CY2016Q1	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	44579000	shares
CY2017Q1	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	45820000	shares
CY2016Q1	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	44275000	shares
CY2017Q1	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	44830000	shares
CY2017Q1	us-gaap	Description Of New Accounting Pronouncements Not Yet Adopted DescriptionOfNewAccountingPronouncementsNotYetAdopted	<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Recently Issued Financial Accounting Standards</font><font style="font-family:inherit;font-size:10pt;">.</font><font style="font-family:inherit;font-size:10pt;font-weight:bold;"> </font><font style="font-family:inherit;font-size:10pt;">In January 2017, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) No. 2017-04, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment</font><font style="font-family:inherit;font-size:10pt;">, which eliminates the requirement to determine the fair value of individual assets and liabilities of a reporting unit to measure goodwill impairment. Under these amendments, goodwill impairment testing will be performed by comparing the fair value of the reporting unit with its carrying amount and recognizing an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value. We adopted ASU 2017-04 effective January 1, 2017 on a prospective basis, and it did not have a material impact on our consolidated financial statements for the three months ended March 31, 2017.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In January 2017, the FASB issued ASU No. 2017-01, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Business Combinations (Topic 805): Clarifying the Definition of a Business</font><font style="font-family:inherit;font-size:10pt;">, which provides guidance to entities to assist with evaluating when a set of transferred assets and activities is a business and provides a screen to determine when a set is not a business. Under the new guidance, when substantially all the fair value of gross assets acquired (or disposed of) is concentrated in a single identifiable asset, or group of similar assets, the assets acquired would not represent a business. Also, to be considered a business, an acquisition would have to include an input and a substantive process that together significantly contribute to the ability to produce outputs. We adopted ASU 2017-04 effective January 1, 2017 on a prospective basis. The implementation of ASU 2017-04 did not have a material impact on our consolidated financial statements for the three months ended March 31, 2017.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In October 2016, the FASB issued ASU No. 2016-16, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other than Inventory</font><font style="font-family:inherit;font-size:10pt;">, which requires the recognition of the income tax consequences of an intra-entity transfer of an asset, other than inventory, when the transfer occurs. ASU 2016-16 will be effective for us on January 1, 2018. We are currently evaluating the anticipated impact of adopting ASU 2016-16 on our consolidated financial statements.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In August 2016, the FASB issued ASU No. 2016-15, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments</font><font style="font-family:inherit;font-size:10pt;">, which addresses eight specific cash flow issues with the objective of reducing the existing diversity in practice in how certain cash receipts and cash payments are presented and classified in the statement of cash flows. ASU 2016-15 will be effective for us on January 1, 2018 with early adoption permitted. We do not presently anticipate that the adoption of ASU 2016-15 will have a material impact on our consolidated financial statements.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In March 2016, the FASB issued ASU No. 2016-09, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting</font><font style="font-family:inherit;font-size:10pt;">, which requires companies to record excess tax benefits and deficiencies in income rather than the current requirement to record them through equity. ASU 2016-09 also allows companies the option to recognize forfeitures of share-based awards when they occur rather than the current requirement to make an estimate upon the grant of the awards. We adopted ASU 2016-09 effective January 1, 2017 on a prospective basis. The implementation of ASU 2016-09 did not have a material impact on our consolidated financial statements for the three months ended March 31, 2017.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In February 2016, the FASB issued ASU No. 2016-02, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Leases</font><font style="font-family:inherit;font-size:10pt;">, which eliminates the current tests for lease classification under U.S. GAAP and requires lessees to recognize the right-of-use assets and related lease liabilities on the balance sheet for all leases greater than one year in duration. ASU 2016-02 is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Early adoption of ASU 2016-02 is permitted. ASU 2016-02 provides that lessees (for capital and operating leases) and lessors (for sales-type, direct financing, and operating leases) must apply a modified retrospective transition approach for leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements. The modified retrospective approach would not require any transition accounting for leases that expired before the earliest comparative period presented. Lessees and lessors may not apply a full retrospective transition approach. We are assessing the impact that ASU 2016-02 is anticipated to have on our consolidated financial statements. We currently expect that most of our operating lease commitments will be subject to the new standard and recognized as lease liabilities and right-of-use assets upon our adoption of ASU 2016-02.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In January 2016, the FASB issued ASU No. 2016-01, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Financial Instruments - Overall: Recognition and Measurement of Financial Assets and Financial Liabilities, </font><font style="font-family:inherit;font-size:10pt;">which amends the guidance regarding the classification and measurement of financial instruments. Changes to the current guidance primarily affect the accounting for equity investments, financial liabilities under the fair value option, and the presentation and disclosure requirements for financial instruments. In addition, ASU 2016-01 clarifies guidance related to the valuation allowance assessment when recognizing deferred tax assets resulting from unrealized losses on available-for-sale debt securities. ASU 2016-01 will be effective for us on January 1, 2018. Early adoption is not permitted except for the provision to record fair value changes for financial liabilities under the fair value option resulting from instrument-specific credit risk in other comprehensive income. Upon adoption of ASU 2016-01, an entity should apply the amendments by means of a cumulative-effect adjustment to the balance sheet at the beginning of the first reporting period in which the guidance is effective. We do not presently anticipate that the adoption of ASU 2016-01 will have a material impact on our financial statements.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In November 2015, the FASB issued ASU 2015-17, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes</font><font style="font-family:inherit;font-size:10pt;">, which requires all deferred tax assets and deferred tax liabilities to be presented as noncurrent within a classified balance sheet. We adopted ASU 2015-17 effective January 1, 2017 on a prospective basis and did not reclassify presentation of prior year balances. The adoption of this standard did not have a material impact on our consolidated financial statements for the three months ended March 31, 2017.</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In July 2015, the FASB issued ASU 2015-11, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Simplifying the Measurement of Inventory</font><font style="font-family:inherit;font-size:10pt;">. ASU 2015-11 requires that inventory be measured at the lower of cost or net realizable value. Net realizable value is the estimated selling price in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. Inventory measured using last-in, first-out or the retail inventory method are excluded from the scope of ASU 2015-11 which is effective for fiscal years beginning after December 15, 2016, and interim periods within those fiscal years. The implementation of ASU 2015-11 did not have a material impact on our consolidated financial statements for the three months ended March 31, 2017.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In May 2014, the FASB issued ASU 2014-09, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Revenue from Contracts with Customers (Topic 606)</font><font style="font-family:inherit;font-size:10pt;">, to update the financial reporting requirements for revenue recognition. Topic 606 outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance, including industry-specific guidance. The guidance is based on the principle that an entity should recognize revenue to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to fulfill a contract. This guidance is effective for us beginning on January 1, 2018, and entities have the option of using either a full retrospective or a modified retrospective approach for the adoption of the new standard. We have not yet reached a final conclusion on whether we will adopt this new standard on a prospective or retrospective basis.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We are concluding the assessment phase of implementing this guidance. We have evaluated each of the five steps in Topic 606, which are as follows: 1) Identify the contract with the customer; 2) Identify the performance obligations in the contract; 3) Determine the transaction price; 4) Allocate the transaction price to the performance obligations; and 5) Recognize revenue when (or as) performance obligations are satisfied. Our preliminary conclusion is that we expect to identify similar performance obligations under ASC Topic 606 as compared with deliverables and separate units of account previously identified. As a result, we expect the timing of our revenue to remain the same in comparison to the current revenue recognition guidance. There are also certain considerations related to internal control over financial reporting that are associated with implementing Topic 606. We are currently evaluating our control framework for revenue recognition and identifying any changes that may need to be made in response to the new guidance. Disclosure requirements under the new guidance in Topic 606 have been significantly expanded in comparison to the disclosure requirements under the current guidance. Designing and implementing the appropriate controls over gathering and reporting the information required under Topic 606 is currently in process.</font></div></div>

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2017 Q1 Form 10-Q Financial Statement

#000085698217000019 Filed on May 10, 2017

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$MMSI MERIT MEDICAL SYSTEMS INC Stock $mmsi

2017 Q1 Form 10-Q Financial Statement

#000085698217000019 Filed on May 10, 2017

Income Statement

Balance Sheet

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Files In Submission

$MMSI
MERIT MEDICAL SYSTEMS INC Stock $mmsi