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Home » LeMaitre Vascular up on Street-beating Q3 results

LeMaitre Vascular up on Street-beating Q3 results

November 2, 2020 By Danielle Kirsh

LeMaitre VascularLeMaitre 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.

Filed Under: MassDevice Earnings Roundup, Wall Street Beat Tagged With: LeMaitre Vascular Inc.

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About Danielle Kirsh

Danielle Kirsh is an award-winning journalist and senior editor for Medical Design & Outsourcing, MassDevice, and Medical Tubing + Extrusion, and the founder of Women in Medtech and lead editor for Big 100. She received her bachelor's degree in broadcast journalism and mass communication from Norfolk State University and is pursuing her master's in global strategic communications at the University of Florida. You can connect with her on Twitter and LinkedIn, or email her at [email protected].

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