Medical Device

LeMaitre Vascular (Nasdaq:LMAT), a provider of vascular devices, implants and services, today reported Q1 2018 results, provided guidance, and announced a $0.07/share dividend. As quoted in the press release: Q1 2018 sales of $26.0mm increased 8% (+3% organic) vs. Q1 2017.  Allografts, patches and valvulotomes led growth.  Sales in the Americas and Europe/Middle East/Africa were up …

LeMaitre Vascular (Nasdaq:LMAT), a provider of vascular devices, implants and services, today reported Q1 2018 results, provided guidance, and announced a $0.07/share dividend.

As quoted in the press release:

Q1 2018 sales of $26.0mm increased 8% (+3% organic) vs. Q1 2017.  Allografts, patches and valvulotomes led growth.  Sales in the Americas and Europe/Middle East/Africa were up 6% and 15% respectively, while sales in Asia/Pac Rim decreased 11%.

Gross margin decreased to 71.1% in Q1 2018 from 71.9% in Q1 2017, primarily due to product mix and manufacturing inefficiencies.

Operating expenses in Q1 2018 were $13.6mm, a 3% increase vs. the year-earlier quarter. The Company ended the quarter with 94 sales reps vs. 95 at the end of Q1 2017.

George W. LeMaitre, Chairman and CEO said, “We continue to pursue 10% annual reported sales growth and 20% annual operating income growth.”

Click here to read the full press release.

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