Lemaitre Vascular (LMAT) Tops Q1 EPS by 1c; Withdraws Outlook

Lemaitre Vascular (NASDAQ: LMAT) reported Q1 EPS of $0.16, $0.01 better than the analyst estimate of $0.15. Revenue for the quarter came in at $30.6 million versus the consensus estimate of $30.17 million.

Chairman and CEO George LeMaitre said, “COVID-19 began to affect our sales in mid-March, and we expect our results to be impacted for the balance of 2020. As a result, we’ve reduced headcount and temporarily cut base salaries. My base salary was cut 90% while our lowest earners’ hourly wages were not impacted. These actions were necessary to protect our profitability and cash position. We implemented social-distancing in our four factories and they’re generally operating at near-normal levels.”

GUIDANCE

On April 13, 2020, the Company withdrew its guidance for the full year 2020. Due to the unpredictable magnitude and duration of the COVID-19 pandemic and the timing of possible global economic recovery, the Company is unable to estimate the overall impacts on its financial results for the remainder of 2020.

For earnings history and earnings-related data on Lemaitre Vascular (LMAT) click here.

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