LMAT - LeMaitre dips 4% on guiding Q2 and FY22 below EPS and revenue
LeMaitre (LMAT) -4% on reporting Q2 EPS of $0.27 missing consensus by 1 cent. Sales of $39.6M, +10% was driven by Artegraft, XenoSure, carotid shunts, allografts and valvulotomes. By geography, sales were driven by the Americas (+12%), EMEA (+6%) and APAC (+9%). Gross margin declined to 65.6% vs. 66.3% in Q1 2021 due to forex and hiring was up 49% from a year ago. The company announced a quarterly dividend of $0.125/share of common stock. The dividend will be paid on June 2, 2022 to shareholders of record on May 17, 2022. In April, 2022, the company committed to the closure of its St. Etienne, France factory resulting in ~$3.1M of special charges in 2022, and the closure is estimated to increase annual operating income by ~$1M, beginning in 2023. Q2 Guidance: Sales of $40M-$42.1M vs. $42.54M consensus, EPS of $0.29-$0.35 vs. $0.38 consensus. FY22 Guidance: Sales of $160M-$164M vs. $164.73M consensus,
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LeMaitre dips 4% on guiding Q2 and FY22 below EPS and revenue