LeMaitre Vascular (Nasdaq:LMAT) this week posted second-quarter results that beat the overall consensus on Wall Street.
The Burlington, Massachusetts-based company reported profits of $8.1 million, or 36¢ per share, on sales of $50.1 million, for a sales growth of 19.02% and profit gains of 130.4% compared to Q3 2022.
Earnings per share were 37¢, 5¢ ahead of The Street, where analysts were looking for sales of $45.91 million.
“16% organic sales growth and 25% adjusted EPS growth was a result of increased hospital procedures and our 9% price increase. In retrospect, our 2022 hiring surge seems well-timed,” CEO George LeMaitre said in a news release.
LeMaitre Vascular is anticipating sales of $46.5 million to $48.9 million for Q3. It expects sales for the full year to be in the range of $193 million to $197.8 million.
Shares in LMAT were up 3.6% to $65.08 apiece in mid-morning trading.