The Burlington, Mass.–based maker of peripheral vascular disease devices posted profits of $4.6 million, or 23¢ per share, on sales of $30.2 million for the three months ended Dec. 31, 2019, for a 23.5% bottom-line slide on sales growth of 6.3%.
Adjusted to exclude one-time items, earnings per share were 22¢, 1¢ behind the projections made by Wall Street analysts.
In a news release, LeMaitre Vascular chairman & CEO George LeMaitre said that full-year 2019 sales were up 11% (6% organic) and adjusted operating income was up 3%. He added that the company’s 2020 projections foresee 10% sales growth and 17% operating income growth.
For 2020, LeMaitre Vascular said it now expects to log adjusted EPS of 90¢ to 98¢ and updated its prior sales guidance to between $127.4 million and $130.8 million.
LMAT shares were down -17.2% at $30.12 per share in midday trading today.