LeMaitre Vascular, Inc. (LMAT) Tops Q2 EPS by 3c

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Go back to LeMaitre Vascular, Inc. (LMAT) Tops Q2 EPS by 3c

LeMaitre Q2 2014 Record Sales $18.2mm (+14%) ; Op. Profit $2.0mm (+37%)

July 29, 2014 4:05 PM EDT

BURLINGTON, Mass., July 29, 2014 (GLOBE NEWSWIRE) -- LeMaitre Vascular, Inc. (Nasdaq: LMAT) today reported Q2 2014 results, provided guidance and announced a $0.035/share dividend.

Q2 2014 sales were $18.2mm, a 14% year-over-year increase, driven by Trivex (acquired Q3 2013) and XenoSure. Geographically, gains came from the Company's newly-direct markets of Australia & Switzerland and its Mediterranean subsidiaries. Unit sales grew 5% and organic sales improved 6%.

Gross margin improved sequentially from 67.0% in Q1 2014 to 68.1% in Q2 2014, due to ramping XenoSure production, the Southbridge factory closure and manufacturing efficiencies.

Operating income grew 37% to $2.0mm from $1.4mm in Q2 2013,... More