LeMaitre Vascular (NSDQ:LMAT) posted third-quarter results that beat the consensus forecast on Wall Street.
The Burlington, Mass.-based company reported profits of $7.5 million, or 37¢ per share, on sales of $36.4 million for the three months ended Sept. 30, for a bottom-line gain of 44.9% sales growth of 25.1% compared with Q3 2019.
Earnings per share were 37¢, 18¢ ahead of The Street, where analysts were looking for sales of $31.6 million.
“Record sales in Q3 and tight expense control led to healthy bottom-line results and an improved balance sheet,” CEO George LeMaitre said in a news release.
The company said operating expenses decreased by 11% in Q3 due to COVID-19-related cost cuts, which includes reduced sales and marketing expenses.
LeMaitre Vascular did not provide a financial outlook for the rest of the year.
Shares in LMAT were up 3.39% to $33.58 apiece in mid-morning trading.
