UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): November 14, 2016
LeMaitre Vascular, Inc.
(Exact name of registrant as specified in its charter)
Commission File Number: 001-33092
| Delaware | 04-2825458 | |
| (State or other jurisdiction of incorporation) |
(IRS Employer Identification No.) |
63 Second Avenue
Burlington, MA 01803
(Address of principal executive offices, including zip code)
781-221-2266
(Registrant’s telephone number, including area code)
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
| Item 7.01. | Regulation FD Disclosure |
Beginning on November 14, 2016, LeMaitre Vascular, Inc. intends to use the slides furnished herewith as Exhibit 99.1 in one or more meetings with investors and analysts as part of its corporate presentation. The full corporate presentation, including the slides furnished herewith, will be available at http://ir.lemaitre.com. The slides attached as Exhibit 99.1 are incorporated herein by reference.
The information contained in this report, including the exhibit attached hereto, is being furnished and shall not be deemed “filed” for any purpose, and shall not be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, regardless of any general incorporation language in any such filing.
| Item 9.01. | Financial Statements and Exhibits |
(d) Exhibits. The following exhibit is being furnished with this Current Report on Form 8-K:
| Exhibit |
Document Description | |
| 99.1 | Slides from Corporate Presentation | |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| LeMaitre Vascular, Inc. | ||||||
| Date: November 14, 2016 | By: | /s/ David B. Roberts | ||||
| David B. Roberts | ||||||
| President | ||||||
EXHIBIT INDEX
| Exhibit |
Description | |
| 99.1 | Slides from Corporate Presentation | |
|
|
Exhibit 99.1
LMAT INVESTMENT HIGHLIGHTS:
$89.6mm sales in 2016*
14% reported growth
12% organic growth
$16.9mm operating income in 2016*
47% growth
19% operating margin
91 direct sales reps
Acquisition and R&D strategy
Strong balance sheet, dividend payer, share repurchase
*Management Guidance, November 10, 2016
|
|
Financials: Sales
+14% reported growth +12% organic growth
$100
$90
6*
$80 .
89
$70 $
mm) $60
$
( $50
$40
$30
$20
$10
$0
2007200820092010201120122013201420152016*
*Management Guidance, November 10, 2016
|
|
GAAP to Non-GAAP Financial
Measures Reconciliation
Reconciliation between GAAP and Non-GAAP EBITDA: 2009 2010201120122013201420152016*
Net Income as reported $1,598$6,013 $2,143$2,571$3,202$3,915$7,758$7,993
Interest $(12)$(26) $(11)$(77)$8$4$(13)$(55)
Taxes $617$(1,988) $1,609$1,422$1,126$2,405$3,666$4,415
Depreciation and amortization $1,419$1,376 $2,037$2,234$2,793$3,334$3,394$2,658
EBITDA $3,622$5,375 $5,778$6,150$7,129$9,658$14,805$15,011
*At 9/30/2016
Reconciliation between GAAP and Non-GAAP sales growth:
For the year ending December 31, 2016
Net sales per guidance** $89,550
Impact of currency exchange rate fluctuations 167
Net impact of acquisitions excluding currency (1,793)
Adjusted net sales $87,924
For the year ending December 31, 2015
Net sales as reported $78,352
Net impact of divestitures excluding currency (153)
Adjusted net sales $78,199
Adjusted net sales increase for the year ending December 31, 2016 $9,72512%
Amounts are in thousands and are unaudited
**Management Guidance, November 10, 2016