LeMaitre Vascular(LMAT) - 2024 Q2 - Quarterly Results

Financial Performance - Q2 2024 sales reached $55.8 million, an increase of 11% year-over-year, with 12% organic growth[2] - Gross margin improved to 68.9%, up 490 basis points from 64.0% in Q2 2023[2] - Operating income was $14.4 million, reflecting a 52% increase compared to Q2 2023[2] - Net income for Q2 2024 was $11.8 million, a 46% increase year-over-year[2] - Earnings per diluted share rose to $0.52, up 44% from the previous year[2] - Net sales for the three months ended June 30, 2024, were $55,849,000, representing a 11.5% increase from $50,115,000 for the same period in 2023[12] - Gross profit for the three months ended June 30, 2024, was $38,468,000, up 20% from $32,086,000 in the prior year[12] - Net income for the three months ended June 30, 2024, was $11,826,000, compared to $8,098,000 for the same period in 2023, reflecting a 46.5% increase[12] - EBITDA for the three months ended June 30, 2024, was $16,753,000, a 40% increase from $11,963,000 in the same period last year[14] - Adjusted net sales for the three months ended June 30, 2024, increased by $5,780,000, or 12%, compared to the same period in 2023[15] Guidance and Projections - Guidance for Q3 2024 sales is projected between $52.7 million and $54.7 million, representing a 13% increase[3] - Full year 2024 sales guidance is set at $216.8 million to $220.8 million, also a 13% increase[3] - The company projects net sales for the three months ending September 30, 2024, to be approximately $53,710,000, with an adjusted increase of $6,537,000, or 14%[15] - Operating income for the year ending December 31, 2024, is projected at $51,096,000, reflecting a significant increase from the previous year[15] - The adjusted projected EPS for the year ending December 31, 2024, is $1.86, reflecting a 37% increase from the previous year[16] - The midpoint guidance for EPS for the year ending December 31, 2024, is set at $1.86[16] Dividend Information - The company announced a quarterly dividend of $0.16 per share, payable on August 29, 2024[4] - Cash dividends declared per common share increased to $0.16 for the three months ended June 30, 2024, compared to $0.14 in the same period last year[12] Cash and Expenses - Cash increased by $4.8 million sequentially to $113.1 million[2] - Operating expenses grew by only 6% year-over-year, indicating controlled cost management[2] - The company reported a total operating expense of $24,088,000 for the three months ended June 30, 2024, which is an increase from $22,634,000 in the same period last year[12] Regional Sales - The Americas accounted for 66% of total net sales for the three months ended June 30, 2024, with sales of $36,907,000[13]