BURLINGTON, Mass., July 27, 2017 (GLOBE NEWSWIRE) -- LeMaitre Vascular, Inc. (Nasdaq:LMAT), a provider of vascular devices, implants and services, today reported Q2 2017 results, provided increased guidance, announced a $0.055/share dividend and authorized a $7.5mm share repurchase program.
Q2 2017 Results
- Record sales of $25.8mm, +15% vs. Q2 2016
- Record operating income of $5.5mm, +46%
- Record net income of $4.6mm, +78%
- Record earnings per diluted share of $0.23, +69%
- Record EBITDA of $6.4mm, +35%
- Cash & equivalents up $4.3mm during the quarter to $30.1mm
Q2 2017 sales of $25.8mm increased 15% (+10% organic) vs. Q2 2016. Biologic patches and grafts led growth. Sales in the Americas were up 22% while international sales increased 5%.
Gross margin decreased to 68.0% in Q2 2017 from 68.6% in Q2 2016, primarily due to the addition of recently-acquired products, as well as manufacturing inefficiencies.
Operating expenses in Q2 2017 were $12.0mm, a 3% increase vs. the year-earlier quarter, driven by acquisition-related costs.
George W. LeMaitre, Chairman and CEO said, “We continue to pursue 10% annual reported sales growth and 20% annual operating income growth.”
