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LeMaitre profits up 86% in Q1 results

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lemaitre-vascular-logo-newLeMaitre Vascular (NSDQ:LMAT) posted first-quarter results yesterday that beat the consensus on Wall Street.

The company reported profits of $5.9 million, or 28¢ per share, on sales of $35.8 million, for the three months ended March 31, for a bottom-line gain of 86.8% sales growth of 17.45% compared with Q1 2020.

Earnings per share were 28¢∞, 1¢ ahead of The Street, where analysts were looking for sales of $35.2 million.

“Double-digit sales growth and restrained expenses enabled 83% bottom-line growth. And our 22% op. margin enabled us to improve the balance sheet,” CEO George LeMaitre said in a news release.

LeMaitre did not provide a financial outlook for the remainder of the fiscal year.

Shares in LMAT were down -0.2% to $53.86 apiece at a market close yesterday and were at a standstill this morning.

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