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LeMaitre Q3 2021 Financial Results October 28 , 2021 BURLINGTON , Mass . , Oct. 28 , 2021 ( GLOBE NEWSWIRE ) -- LeMaitre ( Nasdaq : LMAT ) , a provider of vascular devices , implants and services , today reported Q3 2021 results , announced an $ 0.11 / share quarterly dividend and provided guidance . Q3 2021 Financial Results • Sales of $ 38.4mm , + 5 % ( + 5 % organic ) vs. Q3 2020 • Gross margin of 64.8 % , +250 basis points • Op . income of $ 9.1mm , -9 % • Op . margin of 24 % • Net income of $ 6.5mm , -13 % • Earnings of $ 0.30 per diluted share , -19 % • EBITDA of $ 11.3mm , -10 % Q3 2021 sales were driven by Artegraft , allografts and valvulotomes . The Americas and EMEA both grew 5 % , while APAC was up 16 % . Due to the Delta variant , many hospitals deferred elective surgeries . The 250 basis point gross margin improvement was due to year - ago Artegraft purchase price accounting , which reduced the Q3 2020 gross margin . This was somewhat offset by Q3 2021 manufacturing inefficiencies . Q3 2021 op . income of $ 9.1mm was down 9 % as op . expenses increased 24 % . This increase was due to a 14 % headcount increase , as well as additional selling and marketing expenses . As of October 28 , 2021 the Company employed 103 sales representatives . Cash and investments increased to $ 67.1mm on September 30 , 2021 due to the recent stock offering ( net proceeds of $ 58.7mm ) and Q3 EBITDA of $ 11.3mm . In July , the Company also paid off the remaining Artegraft acquisition debt . George LeMaitre , Chairman and CEO , said , " Although the Delta variant impacted Q3 sales , we delivered a 24 % op . margin while rebuilding headcount and the salesforce back to pre - COVID levels . " Business Outlook Item Sales Gross Margin Op . Income EPS Q4 2021 Guidance $ 39.0mm $ 41.0mm ( Midpoint : $ 40.0 , + 7 % ) 66.3 % $ 8.3mm $ 9.7mm ( Midpoint : $ 9.0mm , -6 % ) $ 0.29 - $ 0.34 ( Midpoint : $ 0.31 , -8 % ) Full Year 2021 Guidance $ 153.9mm $ 155.9mm ( Midpoint : $ 154.9 , + 20 % ) 65.8 % $ 36.5mm - $ 37.8mm ( Midpoint : $ 37.1mm , + 29 % ) $ 1.26- $ 1.31 ( Midpoint : $ 1.29 , + 24 % ) Quarterly Dividend On October 26 , 2021 , the Company's Board of Directors approved a quarterly dividend of $ 0.11 / share of common stock . The dividend will be paid on December 2 , 2021 to shareholders of record on November 19 , 2021 . Conference Call Reminder Management will conduct a conference call at 5:00 pm ET today . The conference call will be broadcast live over the Internet . Individuals interested in listening to the webcast can log on to the Company's website at www.lemaitre.com/investor . The conference call may also be accessed by dialing 844-239-5284 ( +1 512-961-6497 for international callers ) , using passcode 8308248. For individuals unable to join the live conference call , a replay will be available on the Company's website . A reconciliation of GAAP to non - GAAP results is included in the tables attached to this release . About LeMaitre LeMaitre is a provider of devices , implants and services for the treatment of peripheral vascular disease , a condition that affects more than 200 million people worldwide . The Company develops , manufactures and markets disposable and implantable vascular devices to address the needs of its core customer , the vascular surgeon . LeMaitre is a registered trademark of LeMaitre Vascular , Inc. This press release may include other trademarks and trade names of the Company . For more information about the Company , please visit http://www.lemaitre.com . Use of Non - GAAP Financial Measures LeMaitre Vascular management believes that in order to better understand the Company's short - term and long - term financial trends , investors may wish to consider certain non - GAAP financial measures as a supplement to financial performance measures prepared in accordance with GAAP .