LeMaitre Vascular shares down on Q2 sales miss

Shares in LeMaitre Vascular (NSDQ:LMAT) have fallen slightly after the medical device maker missed sales expectations but met earnings per share consensus on Wall Street with its second quarter earnings results.

The Burlington, Mass.-based company posted profits of $8.8 million, or 43¢ per share, on sales of $27 million for the three months ended June 30, for bottom-line growth of 88.9% while sales grew 4.9% compared with the same period last year.

Earnings per share were just in line with the 43¢ consensus on Wall Street, where analysts expected too see sales of $27.2 million, which the company missed.

“We continue to pursue 10% annual reported sales growth and 20% annual operating income growth,” chair & CEO George LeMaitre said in a prepared statement.

The company also slightly lowered its guidance for the full fiscal year 2018, dropping its sales expectations from between $106 million and $109 million to between $105.3 million and $107.9 million, while EPS expectations dropped from between $1.05 and $1.13 to between $1.04 and $1.11.

Shares in LeMaitre have fallen approximately 6% so far today, at $35.07 as of 2:43 p.m. EDT.

In April, LeMaitre Vascular said that it agreed to deal its Reddick general surgery assets to Symmetry Surgical for more than $7 million.

The post LeMaitre Vascular shares down on Q2 sales miss appeared first on MassDevice.

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