LeMaitre Vascular (LMAT) 10-Q 4 Nov 16 2016 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2016	Nov. 01, 2016
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q3
Trading Symbol	LMAT
Entity Registrant Name	LEMAITRE VASCULAR INC
Entity Central Index Key	1,158,895
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		18,583,768

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 34,650	$ 27,451
Accounts receivable, net of allowances of $234 at September 30, 2016, and $243 at December 31, 2015	12,176	11,971
Inventory	17,430	15,205
Prepaid expenses and other current assets	3,979	3,557
Total current assets	68,235	58,184
Property and equipment, net	7,490	7,022
Goodwill	18,206	17,789
Other intangibles, net	5,872	6,336
Deferred tax assets	1,327	1,205
Other assets	176	168
Total assets	101,306	90,704
Current liabilities:
Accounts payable	1,148	1,366
Accrued expenses	10,308	8,837
Acquisition-related obligations	608	165
Total current liabilities	12,064	10,368
Deferred tax liabilities	1,680	1,678
Other long-term liabilities	872	774
Total liabilities	14,616	12,820
Stockholders' equity:
Preferred stock, $0.01 par value; authorized 3,000,000 shares; none outstanding
Common stock, $0.01 par value; authorized 37,000,000 shares; issued 20,033,526 shares at September 30, 2016, and 19,748,321 shares at December 31, 2015	200	197
Additional paid-in capital	84,837	82,094
Retained earnings	13,568	8,161
Accumulated other comprehensive loss	(3,213)	(4,049)
Treasury stock, at cost; 1,452,810 shares at September 30, 2016 and 1,431,139 shares at December 31, 2015	(8,702)	(8,519)
Total stockholders' equity	86,690	77,884
Total liabilities and stockholders' equity	$ 101,306	$ 90,704

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Accounts receivable, allowances	$ 234	$ 243
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	3,000,000	3,000,000
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	37,000,000	37,000,000
Common stock, shares issued	20,033,526	19,748,321
Treasury stock, at cost	1,452,810	1,431,139

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Income Statement [Abstract]
Net sales	$ 23,216	$ 19,025	$ 65,863	$ 57,869
Cost of sales	6,197	5,509	19,121	18,106
Gross profit	17,019	13,516	46,742	39,763
Sales and marketing	6,541	5,489	19,353	16,866
General and administrative	3,595	3,455	10,343	10,375
Research and development	1,539	1,421	4,619	3,904
Medical device excise tax		190		554
Gain on divestiture		(360)		(360)
Total operating expenses	11,675	10,195	34,315	31,339
Income from operations	5,344	3,321	12,427	8,424
Other income (expense):
Interest income	24	3	55	7
Foreign currency gain (loss)	(61)	(185)	(74)	(142)
Income before income taxes	5,307	3,139	12,408	8,289
Provision for income taxes	2,078	1,047	4,415	3,061
Net income	$ 3,229	$ 2,092	$ 7,993	$ 5,228
Earnings per share of common stock:
Basic	$ 0.17	$ 0.12	$ 0.43	$ 0.30
Diluted	$ 0.17	$ 0.11	$ 0.42	$ 0.29
Weighted-average shares outstanding:
Basic	18,524	17,865	18,423	17,625
Diluted	19,248	18,497	19,103	18,136
Cash dividends declared per common share	$ 0.045	$ 0.040	$ 0.135	$ 0.120

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
Net income	$ 3,229	$ 2,092	$ 7,993	$ 5,228
Other comprehensive income (loss):
Foreign currency translation adjustment, net	312	(508)	836	(1,668)
Total other comprehensive income (loss)	312	(508)	836	(1,668)
Comprehensive income	$ 3,541	$ 1,584	$ 8,829	$ 3,560

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Operating activities
Net income	$ 7,993	$ 5,228
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	2,658	2,497
Stock-based compensation	1,195	1,088
Provision for doubtful accounts	52	156
Provision for inventory write-downs	280	462
Gain on divestitures		(360)
Foreign currency transaction (gain) loss	(1)	130
Changes in operating assets and liabilities:
Accounts receivable	(68)	(1,078)
Inventory	(216)	(33)
Prepaid expenses and other assets	(390)	(791)
Accounts payable and other liabilities	1,199	214
Net cash provided by operating activities	12,702	7,513
Investing activities
Purchases of property and equipment and other assets	(1,830)	(1,558)
Proceeds from disposal of property and equipment		15
Proceeds from divestitures, net of expenses		360
Purchase of intellectual property		(6)
Payments related to acquisitions	(2,368)	(1,426)
Net cash used in investing activities	(4,198)	(2,615)
Financing activities
Payments of deferred acquisition consideration	(249)	(1,100)
Proceeds from issuance of common stock	1,384	3,718
Purchase of treasury stock	(183)	(266)
Common stock cash dividend paid	(2,487)	(2,120)
Net cash used in financing activities	(1,535)	232
Effect of exchange rate changes on cash and cash equivalents	230	(193)
Net increase in cash and cash equivalents	7,199	4,937
Cash and cash equivalents at beginning of period	27,451	18,692
Cash and cash equivalents at end of period	$ 34,650	$ 23,629

Organization and Basis for Pres

Organization and Basis for Presentation	9 Months Ended
	Sep. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Basis for Presentation	1. Organization and Basis for Presentation Description of Business Unless the context indicates otherwise, references to LeMaitre Vascular, we, our, and us refer to LeMaitre Vascular, Inc. and our subsidiaries. We develop, manufacture, and market medical devices and implants used primarily in the field of vascular surgery. We operate in a single segment in which our principal product lines include the following: valvulotomes, balloon catheters, carotid shunts, biologic patches, biologic vascular grafts, radiopaque marking tape, anastomotic clips, remote endarterectomy devices, laparoscopic cholecystectomy devices, synthetic vascular grafts, angioscopes and powered phlebectomy devices. Our offices are located in Burlington, Massachusetts; Mississauga, Canada; Sulzbach, Germany; Milan, Italy; Madrid, Spain; North Melbourne, Australia; Tokyo, Japan; and Shanghai, China. Basis of Presentation The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (GAAP) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments, consisting only of normal, recurring adjustments considered necessary for a fair presentation of the results of these interim periods have been included. Preparing financial statements requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses. Actual results may differ from these estimates. Our estimates and assumptions, including those related to bad debts, inventories, intangible assets, sales returns and discounts, share-based compensation, and income taxes are updated as appropriate. The results for the nine months ended September 30, 2016 are not necessarily indicative of results to be expected for the entire year. The information contained in these interim financial statements should be read in conjunction with our audited consolidated financial statements as of and for the year ended December 31, 2015, including the notes thereto, included in our Form 10-K filed with the Securities and Exchange Commission (SEC). Consolidation Our consolidated financial statements include the accounts of LeMaitre Vascular and the accounts of our wholly-owned subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation. Recent Accounting Pronouncements In August 2016, the Financial Accounting Standards Board (“FASB”) issued an accounting standards update, ASU 2016-15, which changes the classification of certain cash receipts and cash payments within the statement of cash flows. The new standard is effective for us beginning January 31, 2018, with early adoption permitted. The adoption of this standard is not expected to have a material impact on our financial statements. In March 2016, the FASB issued a new standard, ASU 2016-09, which changes the accounting for certain aspects of share-based payments to employees. The new guidance requires excess tax benefits and tax deficiencies to be recorded in the income statement when the awards vest or are settled. In addition, cash flows related to excess tax benefits will no longer be separately classified as a financing activity apart from other income tax cash flows. The new standard is effective for us beginning January 31, 2017, with early adoption permitted. We elected to early adopt the new guidance in the third quarter of fiscal year 2016, which required us to reflect any adjustments as of January 1, 2016, the beginning of the annual period that includes the interim period of adoption. The primary impact of adoption was the recognition of $0.3 million of excess tax benefits in our provision for income taxes rather than additional paid-in capital for all periods in fiscal year 2016. We recorded this adjustment in the quarter ended September 30, 2016 as it was not material to the earlier periods previously reported. As allowed by the standard, we also made an election to account for award forfeitures as they occur, rather than estimating them at the time of grant. In connection with this election we recorded a net cumulative-effect adjustment to beginning retained earnings of $0.1 million.

Income Tax Expense

Income Tax Expense	9 Months Ended
	Sep. 30, 2016
Income Tax Disclosure [Abstract]
Income Tax Expense	2. Income Tax Expense As part of the process of preparing our consolidated financial statements we are required to determine our income taxes in each of the jurisdictions in which we operate. This process involves estimating our actual current tax expense together with assessing temporary differences resulting from recognition of items for income tax and accounting purposes. These differences result in deferred tax assets and liabilities, which are included within our consolidated balance sheet. We must then assess the likelihood that our deferred tax assets will be recovered from taxable income during the carryback period or in the future; and to the extent we believe that recovery is not more likely than not, we must establish a valuation allowance. To the extent we establish a valuation allowance or increase this allowance in a period, we must reflect this increase as an expense within the tax provision in the statement of operations. We do not provide for income taxes on undistributed earnings of foreign subsidiaries, as our intention is to permanently reinvest these earnings. We recognize, measure, present and disclose in our financial statements any uncertain tax positions that we have taken, or expect to take on a tax return. We operate in multiple taxing jurisdictions, both within and without the United States, and may be subject to audits from various tax authorities. Management’s judgment is required in determining our provision for income taxes, our deferred tax assets and liabilities, liabilities for uncertain tax positions, and any valuation allowance recorded against our net deferred tax assets. We will monitor the realizability of our deferred tax assets and adjust the valuation allowance accordingly. Our policy is to classify interest and penalties related to unrecognized tax benefits as income tax expense. Our 2016 income tax expense varies from the statutory rate mainly due to the generation of federal and state tax credits, permanent items and lower statutory rates from our foreign subsidiaries. Additionally, in the third quarter of 2016, we recognized certain discrete items related to adjustments to prior period taxes resulting from a federal audit, which were partially offset by the benefit of the early adoption of stock-based compensation accounting guidance and stock option exercises. Our 2015 income tax expense varied from the statutory rate mainly due to certain permanent items, offset by lower statutory rates from our foreign entities and a discrete item for stock option exercises. We have reviewed the tax positions taken, or to be taken, in our tax returns for all tax years currently open to examination by a taxing authority. As of September 30, 2016, the gross amount of unrecognized tax benefits exclusive of interest and penalties was $382,000. We remain subject to examination until the statute of limitations expires for each respective tax jurisdiction. The statute of limitations will be open with respect to these tax positions until 2029. A reconciliation of beginning and ending amount of our unrecognized tax benefits is as follows: 2016 (in thousands) Unrecognized tax benefits as of December 31, 2015 $ 82 Additions for tax positions of current year 84 Additions for tax positions of prior years 216 Reductions for settlements with taxing authorities. — Reductions for lapses of the applicable statutes of limitations — Unrecognized tax benefits as of September 30, 2016 $ 382 As of September 30, 2016, a summary of the tax years that remain subject to examination in our taxing jurisdictions is as follows: United States 2013 and forward Foreign 2008 and forward

Inventories

Inventories	9 Months Ended
	Sep. 30, 2016
Inventory Disclosure [Abstract]
Inventories	3. Inventories Inventories consist of the following: September 30, December 31, (in thousands) Raw materials $ 2,910 $ 3,062 Work-in-process 2,684 2,681 Finished products 11,836 9,462 Total inventory $ 17,430 $ 15,205 We held inventory on consignment of $1.3 million and $1.1 million as of September 30, 2016 and December 31, 2015, respectively.

Acquisition and Divestitures

Acquisition and Divestitures	9 Months Ended
	Sep. 30, 2016
Business Combinations [Abstract]
Acquisition and Divestitures	4. Acquisition and Divestitures Our acquisitions, including those discussed below, have historically been made at prices above the fair value of the acquired identifiable assets, resulting in goodwill, due to expectations of synergies that will be realized by combining businesses. These synergies include the use of our existing sales channel to expand sales of the acquired businesses’ products, consolidation of manufacturing facilities, and the leveraging of our existing administrative infrastructure. The fair market valuations associated with these transactions fall within Level 3 of the fair value hierarchy, due to the use of significant unobservable inputs to determine fair value. The fair value measurements were calculated using unobservable inputs, primarily using the income approach, specifically the discounted cash flow method. The amount and timing of future cash flows within our analysis was based on our due diligence models, most recent operational budgets, long range strategic plans and other estimates. ProCol Biologic Graft On March 18, 2016, we acquired the ProCol biologic vascular graft (“ProCol”) business for $2.7 million from Hancock Jaffe Laboratories, Inc. (HJL) and CryoLife, Inc. (CRY). HJL was the owner and manufacturer of ProCol and CRY was the exclusive distributor of the ProCol graft. CRY also owned an option to purchase the ProCol business, which we acquired from CRY. We bought finished goods inventory and other ProCol related assets from CRY for $2.0 million, which was paid in full at closing. We bought other ProCol assets from HJL for $0.7 million, 50% of which was paid at closing, 25% of which was paid in the quarter ended September 30, 2016 and the remainder of which will be paid within one year of closing. Additional consideration is payable to HJL for a three-year period following the closing, calculated at 10% of ProCol revenues. This additional consideration was initially valued at $0.3 million and will be re-measured each reporting period until the payment requirement ends, with any adjustments reported in income from operations. For the nine months ended September 30, 2016, the amount of the adjustment was not material to our financial statements. Assets acquired included inventory, intellectual property and a related license, the ProCol trade name, customer lists, non-compete agreements and certain equipment and supplies. We did not assume any liabilities. We accounted for the acquisition as a business combination. The following table summarizes the preliminary purchase price allocation as of September 30, 2016: Allocated (in thousands) Inventory $ 2,080 Manufacturing equipment and supplies 25 Intangible assets 620 Goodwill 318 Purchase price $ 3,043 The goodwill is deductible for tax purposes over 15 years. The following table reflects the preliminary allocation of the acquired intangible assets and related estimated useful lives: Allocated Weighted (in thousands) Non-compete agreement $ 84 5.0 years Tradename 109 9.5 years Intellectual property 277 9.0 years Customer relationships 150 9.0 years Total intangible assets $ 620 The weighted-average amortization period of the acquired intangible assets was 8.6 years. Tru-Incise Valvulotome In May 2015, we entered into an asset purchase agreement with UreSil, LLC (UreSil) to acquire the production and distribution rights of UreSil’s Tru-Incise valvulotome for sales outside the United States for a purchase price of approximately $1.4 million. We paid $1.1 million at the closing with the remaining $0.3 million payable at various points in 2016 and 2017. We accounted for the acquisition as a business combination. Assets acquired included inventory and intellectual property. We did not assume any liabilities. The purchase accounting is complete. The following table summarizes the purchase price allocation at the date of the acquisition: Allocated (in thousands) Inventory $ 88 Intangible assets 545 Goodwill 742 Purchase price $ 1,375 The goodwill is deductible for tax purposes over 15 years. The following table reflects the allocation of the acquired intangible assets and related estimated useful lives: Allocated Weighted (in thousands) Non-compete agreement $ 120 5.0 years Tradename license 17 3.0 years Product technology 391 7.0 years Customer relationships 17 3.0 years Total intangible assets $ 545 Other 2015 Items Following the May 2015 Tru-Incise valvulotome acquisition, we entered into definitive agreements with seven UreSil distributors to terminate their distribution of the Tru-Incise valvulotome for aggregate termination fees of $0.2 million. We recorded approximately $0.2 million of intangible assets with a weighted-average amortization period of 3.0 years. In August 2015, we entered into a definitive agreement with Grex Medical Oy (Grex), our distributor in Finland to terminate their distribution of our products, and we began selling direct to hospitals in Finland as of January 1, 2016. The agreement required us to pay approximately $0.2 million in exchange for the purchase of customer lists and a non-compete agreement. Angioscope In September 2014, we entered into an asset purchase agreement with Applied Medical Resource Corporation (Applied Medical) to acquire substantially all the assets related to Applied Medical’s angioscope product line for a purchase price of $0.4 million. We paid $0.3 million at closing and the remaining $0.1 million was paid in December 2015 and March 2016. We accounted for the acquisition as a business combination. Assets acquired included inventory, property and equipment and intellectual property. We recorded $0.1 million of tangible assets, $0.3 million of intangible assets and $0.1 million of goodwill. The weighted-average amortization period for the acquired intangible assets was 7.5 years. The goodwill is deductible for tax purposes over 15 years. The purchase accounting is complete. Xenotis Pty Ltd In August 2014, we entered into a stock purchase agreement with the shareholders of Xenotis Pty Ltd (Xenotis) to acquire all of the capital stock of Xenotis for $6.7 million, with a mechanism for a purchase price adjustment that was based on the net tangible assets of Xenotis at closing. Xenotis was the parent company of Bio Nova International, the manufacturer and marketer of the Omniflow II biosynthetic vascular graft for lower extremity bypass and AV access. We paid $5.1 million at the closing and the remaining $1.4 million was paid in August 2015. The net tangible asset purchase price adjustment of $0.2 million was paid in November 2014. We accounted for the acquisition as a business combination. We recorded $2.1 million of tangible assets, $2.1 million of property and equipment, $1.8 million of intangible assets and $2.5 million of goodwill. The weighted-average amortization period for the acquired intangible assets was 5.0 years. Liabilities assumed included payables and debt totaling $1.7 million; the accounts payable of $0.6 million was paid in the ordinary course, and the assumed debt was paid in full in August 2014. The purchase accounting is complete. The goodwill of $2.5 million is not deductible for tax purposes. In addition, we acquired deferred tax assets of $2.4 million which consisted primarily of net operating loss carry-forwards and capital loss carry-forwards. We recorded a full valuation allowance on these deferred tax assets. In September 2014, we entered into definitive agreements with eight former Xenotis distributors in Europe to terminate their distribution of our Omniflow II biosynthetic vascular graft, for aggregated termination fees of $1.3 million. We paid approximately $1.1 million in 2014 with the remainder paid in 2015. We recorded $0.4 million of inventory and $0.9 million of intangible assets. We allocated the payment to the tangible and intangible assets acquired based on the estimated fair value of each of these elements to the transactions. The weighted-average amortization period for the acquired intangible assets was 5.0 years.

Goodwill and Other Intangibles

Goodwill and Other Intangibles	9 Months Ended
	Sep. 30, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangibles	5. Goodwill and Other Intangibles Goodwill consists of the following: (in thousands) Balance at December 31, 2015 $ 17,789 Additions for acquisitions 318 Effects of currency exchange 99 Balance at September 30, 2016 $ 18,206 Other intangibles consist of the following: September 30, 2016 December 31, 2015 Gross Accumulated Net Gross Accumulated Net (in thousands) Product technology and intellectual property $ 7,452 $ 3,825 $ 3,627 $ 7,113 $ 3,247 $ 3,866 Trademarks, tradenames and licenses 1,675 1,332 343 1,560 1,230 330 Customer relationships 4,015 2,527 1,488 3,801 2,143 1,658 Other intangible assets 1,389 975 414 1,297 815 482 Total identifiable intangible assets $ 14,531 $ 8,659 $ 5,872 $ 13,771 $ 7,435 $ 6,336 These intangible assets are being amortized over their useful lives ranging from 1 to 13 years. The weighted-average amortization period for these intangibles as of September 30, 2016 is 7.9 years. Amortization expense is included in general and administrative expense and is as follows: Three months Nine months 2016 2015 2016 2015 (in thousands) Amortization expense $ 385 $ 387 $ 1,170 $ 1,135 Estimated amortization expense for the remainder of 2016 and each of the five succeeding fiscal years is as follows: Year ended December 31, 2016 2017 2018 2019 2020 2021 (in thousands) Amortization expense $ 372 $ 1,305 $ 1,120 $ 930 $ 670 $ 497

Accrued Expenses

Accrued Expenses	9 Months Ended
	Sep. 30, 2016
Text Block [Abstract]
Accrued Expenses	6. Accrued Expenses Accrued expenses consist of the following: September 30, 2016 December 31, 2015 (in thousands) Compensation and related taxes $ 5,418 $ 6,062 Income and other taxes 2,785 483 Professional fees 131 530 Other 1,974 1,762 Total $ 10,308 $ 8,837

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	7. Commitments and Contingencies As of September 30, 2016, as part of our normal course of business, we have commitments to purchase $4.2 million of inventory through 2017.

Segment and Enterprise-Wide Dis

Segment and Enterprise-Wide Disclosures	9 Months Ended
	Sep. 30, 2016
Segment Reporting [Abstract]
Segment and Enterprise-Wide Disclosures	8. Segment and Enterprise-Wide Disclosures Under Accounting Standards Codification Topic 280, Segment Reporting Most of our revenues are generated in the United States, Germany, and other European countries as well as in Canada and Japan. Substantially all of our assets are located in the United States. Net sales to unaffiliated customers by country were as follows: Three months ended Nine months ended 2016 2015 2016 2015 (in thousands) United States $ 13,718 $ 11,171 $ 37,180 $ 33,774 Germany 2,651 2,208 7,920 6,900 Other countries 6,847 5,646 20,763 17,195 Net Sales $ 23,216 $ 19,025 $ 65,863 $ 57,869

Share-based Compensation

Share-based Compensation	9 Months Ended
	Sep. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-based Compensation	9. Share-based Compensation Our 2006 Stock Option and Incentive Plan allows for granting of incentive stock options, non-qualified stock options, stock appreciation rights, restricted stock units, unrestricted stock awards and deferred stock awards to our officers, employees, directors and consultants. The components of share-based compensation expense were as follows: Three months ended Nine months ended 2016 2015 2016 2015 (in thousands) Stock option awards $ 354 $ 327 $ 809 $ 752 Restricted stock units 179 152 386 336 Total share-based compensation $ 533 $ 479 $ 1,195 $ 1,088 Stock-based compensation is included in our statements of operations as follows: Three months ended Nine months ended 2016 2015 2016 2015 (in thousands) Cost of sales $ 46 $ 53 $ 117 $ 126 Sales and marketing 129 108 271 213 General and administrative 314 276 708 661 Research and development 44 42 99 88 Total stock-based compensation $ 533 $ 479 $ 1,195 $ 1,088 During the nine months ended September 30, 2016 and 2015, respectively, we granted options to purchase 511,000 and 499,000 shares of our stock to employees and non-employee directors. We computed the weighted average fair values of employee stock options for option grants issued during the nine months ended September 30, 2016 and 2015 using the Black-Scholes option model with the following assumptions: 2016 2015 Dividend yield 1.3 % 1.4 % Volatility 34.5 % 28.6 % Risk-free interest rate 1.2 % 1.8 % Weighted average expected option term (in years) 5.5 5.6 Weighted average fair value per share of options granted $ 4.04 $ 2.80 During the nine months ended September 30, 2016 and 2015, respectively, we awarded restricted stock units of 126,000 and 63,000 to employees. The weighted-average fair value per share of restricted stock unit awards issued for the nine months ended September 30, 2016 was $14.11. The weighted-average fair value per share of restricted stock unit grants issued for the nine months ended September 30, 2015 was $11.32. We issued approximately 285,000 and 721,000 shares of common stock following the exercise or vesting of underlying stock options or restricted stock units in the nine months ended September 30, 2016 and 2015, respectively.

Net Income per Share

Net Income per Share	9 Months Ended
	Sep. 30, 2016
Earnings Per Share [Abstract]
Net Income per Share	10. Net Income per Share The computation of basic and diluted net income per share was as follows: Three months ended Nine months ended 2016 2015 2016 2015 (in thousands, except per share data) Basic: Net income available for common stockholders $ 3,229 $ 2,092 $ 7,993 $ 5,228 Weighted average shares outstanding 18,524 17,865 18,423 17,625 Basic earnings per share $ 0.17 $ 0.12 $ 0.43 $ 0.30 Diluted: Net income available for common stockholders $ 3,229 $ 2,092 $ 7,993 $ 5,228 Weighted-average shares outstanding 18,524 17,865 18,423 17,626 Common stock equivalents, if dilutive 724 632 680 510 Shares used in computing diluted earnings per common share 19,248 18,497 19,103 18,136 Diluted earnings per share $ 0.17 $ 0.11 $ 0.42 $ 0.29 Shares excluded in computing diluted earnings per share as those shares would be anti-dilutive 76 40 44 81

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Sep. 30, 2016
Equity [Abstract]
Stockholders' Equity	11. Stockholders’ Equity Share Repurchase Program On July 25, 2016, our Board of Directors approved a stock repurchase program under which the Company is authorized to repurchase up to $5.0 million of its common stock through transactions on the open market, in privately negotiated purchases or otherwise. This program may be suspended or discontinued at any time, and expires on the earlier of July 25, 2017 or when the authorized aggregate $5.0 million repurchase limit is reached. We have not made any share repurchases under this program. Dividends In February 2011, our Board of Directors approved a policy for the payment of quarterly cash dividends on our common stock. Future declarations of quarterly dividends and the establishment of future record and payment dates are subject to approval by our Board of Directors on a quarterly basis. The dividend activity for the periods presented is as follows: Record Date Payment Date Per Share Amount Dividend Payment (in thousands) Fiscal Year 2016 March 21, 2016 April 4, 2016 $ 0.045 $ 825 May 25, 2016 June 8, 2016 $ 0.045 $ 829 August 22,2016 September 2, 2016 $ 0.045 $ 833 Fiscal Year 2015 March 20, 2015 April 3, 2015 $ 0.040 $ 700 May 22, 2015 June 5, 2015 $ 0.040 $ 705 August 20, 2015 September 3, 2015 $ 0.040 $ 715 November 20, 2015 December 4, 2015 $ 0.040 $ 725 On October 24, 2016 our Board of Directors approved a quarterly cash dividend on our common stock of $0.045 per share payable on December 5, 2016 to stockholders of record at the close of business on November 21, 2016, which will total approximately $0.8 million.

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	9 Months Ended
	Sep. 30, 2016
Supplemental Cash Flow Elements [Abstract]
Supplemental Cash Flow Information	12. Supplemental Cash Flow Information Nine months ended 2016 2015 (in thousands) Cash paid for income taxes, net $ 2,809 $ 3,341 Common stock repurchased for RSU tax witholdings $ 183 $ 266

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2016
Fair Value Disclosures [Abstract]
Fair Value Measurements	13. Fair Value Measurements The fair value accounting guidance requires that assets and liabilities carried at fair value be classified and disclosed in one of the following three categories: • Level 1 — Quoted prices in active markets for identical assets or liabilities. • Level 2 — Observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. • Level 3 — Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. This includes certain pricing models, discounted cash flow methodologies and similar techniques that use significant unobservable inputs. As of September 30, 2016, we had cash equivalents in a money market fund that was valued using Level 1 inputs (quoted market prices for identical assets) at a fair value of $16.0 million. We had no Level 2 assets being measured at fair value on a recurring basis as of September 30, 2016. As discussed in Note 4, we have contingent liabilities related to certain of our acquired businesses. These liabilities are or have been remeasured each reporting period using Level 3 techniques to assess the probability that we will be required to make future payments, and to estimate the amount of those payments. There were no material changes in estimated liabilities during the nine months ended September 30, 2016.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	9 Months Ended
	Sep. 30, 2016
Equity [Abstract]
Accumulated Other Comprehensive Loss	14. Accumulated Other Comprehensive Loss Nine months ended 2016 2015 (in thousands) Beginning balance $ (4,049 ) $ (2,365 ) Other comprehensive income (loss) before reclassifications 836 (1,668 ) Amounts reclassified from accumulated other comprehensive loss — — Ending Balance $ (3,213 ) $ (4,033 ) Changes to our accumulated other comprehensive loss consisted of foreign currency translation for the nine months ended September 30, 2016 and 2015.

Organization and Basis for Pr21

Organization and Basis for Presentation (Policies)	9 Months Ended
	Sep. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business	Description of Business Unless the context indicates otherwise, references to LeMaitre Vascular, we, our, and us refer to LeMaitre Vascular, Inc. and our subsidiaries. We develop, manufacture, and market medical devices and implants used primarily in the field of vascular surgery. We operate in a single segment in which our principal product lines include the following: valvulotomes, balloon catheters, carotid shunts, biologic patches, biologic vascular grafts, radiopaque marking tape, anastomotic clips, remote endarterectomy devices, laparoscopic cholecystectomy devices, synthetic vascular grafts, angioscopes and powered phlebectomy devices. Our offices are located in Burlington, Massachusetts; Mississauga, Canada; Sulzbach, Germany; Milan, Italy; Madrid, Spain; North Melbourne, Australia; Tokyo, Japan; and Shanghai, China.
Basis of Presentation	Basis of Presentation The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (GAAP) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments, consisting only of normal, recurring adjustments considered necessary for a fair presentation of the results of these interim periods have been included. Preparing financial statements requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses. Actual results may differ from these estimates. Our estimates and assumptions, including those related to bad debts, inventories, intangible assets, sales returns and discounts, share-based compensation, and income taxes are updated as appropriate. The results for the nine months ended September 30, 2016 are not necessarily indicative of results to be expected for the entire year. The information contained in these interim financial statements should be read in conjunction with our audited consolidated financial statements as of and for the year ended December 31, 2015, including the notes thereto, included in our Form 10-K filed with the Securities and Exchange Commission (SEC).
Consolidation	Consolidation Our consolidated financial statements include the accounts of LeMaitre Vascular and the accounts of our wholly-owned subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In August 2016, the Financial Accounting Standards Board (“FASB”) issued an accounting standards update, ASU 2016-15, which changes the classification of certain cash receipts and cash payments within the statement of cash flows. The new standard is effective for us beginning January 31, 2018, with early adoption permitted. The adoption of this standard is not expected to have a material impact on our financial statements. In March 2016, the FASB issued a new standard, ASU 2016-09, which changes the accounting for certain aspects of share-based payments to employees. The new guidance requires excess tax benefits and tax deficiencies to be recorded in the income statement when the awards vest or are settled. In addition, cash flows related to excess tax benefits will no longer be separately classified as a financing activity apart from other income tax cash flows. The new standard is effective for us beginning January 31, 2017, with early adoption permitted. We elected to early adopt the new guidance in the third quarter of fiscal year 2016, which required us to reflect any adjustments as of January 1, 2016, the beginning of the annual period that includes the interim period of adoption. The primary impact of adoption was the recognition of $0.3 million of excess tax benefits in our provision for income taxes rather than additional paid-in capital for all periods in fiscal year 2016. We recorded this adjustment in the quarter ended September 30, 2016 as it was not material to the earlier periods previously reported. As allowed by the standard, we also made an election to account for award forfeitures as they occur, rather than estimating them at the time of grant. In connection with this election we recorded a net cumulative-effect adjustment to beginning retained earnings of $0.1 million.
Segment Reporting	Under Accounting Standards Codification Topic 280, Segment Reporting
Fair Value Measurement	The fair value accounting guidance requires that assets and liabilities carried at fair value be classified and disclosed in one of the following three categories: • Level 1 — Quoted prices in active markets for identical assets or liabilities. • Level 2 — Observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. • Level 3 — Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. This includes certain pricing models, discounted cash flow methodologies and similar techniques that use significant unobservable inputs.

Income Tax Expense (Tables)

Income Tax Expense (Tables)	9 Months Ended
	Sep. 30, 2016
Income Tax Disclosure [Abstract]
Reconciliation of Beginning and Ending Amount of Unrecognized Tax Benefits	A reconciliation of beginning and ending amount of our unrecognized tax benefits is as follows: 2016 (in thousands) Unrecognized tax benefits as of December 31, 2015 $ 82 Additions for tax positions of current year 84 Additions for tax positions of prior years 216 Reductions for settlements with taxing authorities. — Reductions for lapses of the applicable statutes of limitations — Unrecognized tax benefits as of September 30, 2016 $ 382
Summary of Tax Years Subject to Examination in Most Significant Tax Jurisdictions	As of September 30, 2016, a summary of the tax years that remain subject to examination in our taxing jurisdictions is as follows: United States 2013 and forward Foreign 2008 and forward

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Sep. 30, 2016
Inventory Disclosure [Abstract]
Summary of Inventories	Inventories consist of the following: September 30, December 31, (in thousands) Raw materials $ 2,910 $ 3,062 Work-in-process 2,684 2,681 Finished products 11,836 9,462 Total inventory $ 17,430 $ 15,205

Acquisition and Divestitures (T

Acquisition and Divestitures (Tables)	9 Months Ended
	Sep. 30, 2016
ProCol Biologic Graft [Member]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The following table summarizes the preliminary purchase price allocation as of September 30, 2016: Allocated (in thousands) Inventory $ 2,080 Manufacturing equipment and supplies 25 Intangible assets 620 Goodwill 318 Purchase price $ 3,043
Acquired Intangible Assets and Related Estimated Useful Lives	The following table reflects the preliminary allocation of the acquired intangible assets and related estimated useful lives: Allocated Weighted (in thousands) Non-compete agreement $ 84 5.0 years Tradename 109 9.5 years Intellectual property 277 9.0 years Customer relationships 150 9.0 years Total intangible assets $ 620
Tru-Incise Valvulotome [Member]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The following table summarizes the purchase price allocation at the date of the acquisition: Allocated (in thousands) Inventory $ 88 Intangible assets 545 Goodwill 742 Purchase price $ 1,375
Acquired Intangible Assets and Related Estimated Useful Lives	The following table reflects the allocation of the acquired intangible assets and related estimated useful lives: Allocated Weighted (in thousands) Non-compete agreement $ 120 5.0 years Tradename license 17 3.0 years Product technology 391 7.0 years Customer relationships 17 3.0 years Total intangible assets $ 545

Goodwill and Other Intangibles

Goodwill and Other Intangibles (Tables)	9 Months Ended
	Sep. 30, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	Goodwill consists of the following: (in thousands) Balance at December 31, 2015 $ 17,789 Additions for acquisitions 318 Effects of currency exchange 99 Balance at September 30, 2016 $ 18,206
Components of Identifiable Intangible Assets	Other intangibles consist of the following: September 30, 2016 December 31, 2015 Gross Accumulated Net Gross Accumulated Net (in thousands) Product technology and intellectual property $ 7,452 $ 3,825 $ 3,627 $ 7,113 $ 3,247 $ 3,866 Trademarks, tradenames and licenses 1,675 1,332 343 1,560 1,230 330 Customer relationships 4,015 2,527 1,488 3,801 2,143 1,658 Other intangible assets 1,389 975 414 1,297 815 482 Total identifiable intangible assets $ 14,531 $ 8,659 $ 5,872 $ 13,771 $ 7,435 $ 6,336
Amortization Expense Included in General and Administrative Expense	Amortization expense is included in general and administrative expense and is as follows: Three months Nine months 2016 2015 2016 2015 (in thousands) Amortization expense $ 385 $ 387 $ 1,170 $ 1,135
Estimated Amortization Expense for Each of Five Succeeding Fiscal Years	Estimated amortization expense for the remainder of 2016 and each of the five succeeding fiscal years is as follows: Year ended December 31, 2016 2017 2018 2019 2020 2021 (in thousands) Amortization expense $ 372 $ 1,305 $ 1,120 $ 930 $ 670 $ 497

Accrued Expenses (Tables)

Accrued Expenses (Tables)	9 Months Ended
	Sep. 30, 2016
Text Block [Abstract]
Accrued Expenses	Accrued expenses consist of the following: September 30, 2016 December 31, 2015 (in thousands) Compensation and related taxes $ 5,418 $ 6,062 Income and other taxes 2,785 483 Professional fees 131 530 Other 1,974 1,762 Total $ 10,308 $ 8,837

Segment and Enterprise-Wide D27

Segment and Enterprise-Wide Disclosures (Tables)	9 Months Ended
	Sep. 30, 2016
Segment Reporting [Abstract]
Net Sales to Unaffiliated Customers by Geography	Net sales to unaffiliated customers by country were as follows: Three months ended Nine months ended 2016 2015 2016 2015 (in thousands) United States $ 13,718 $ 11,171 $ 37,180 $ 33,774 Germany 2,651 2,208 7,920 6,900 Other countries 6,847 5,646 20,763 17,195 Net Sales $ 23,216 $ 19,025 $ 65,863 $ 57,869

Share-based Compensation (Table

Share-based Compensation (Tables)	9 Months Ended
	Sep. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-based Compensation Expense	The components of share-based compensation expense were as follows: Three months ended Nine months ended 2016 2015 2016 2015 (in thousands) Stock option awards $ 354 $ 327 $ 809 $ 752 Restricted stock units 179 152 386 336 Total share-based compensation $ 533 $ 479 $ 1,195 $ 1,088
Schedule of Stock-based Compensation	Stock-based compensation is included in our statements of operations as follows: Three months ended Nine months ended 2016 2015 2016 2015 (in thousands) Cost of sales $ 46 $ 53 $ 117 $ 126 Sales and marketing 129 108 271 213 General and administrative 314 276 708 661 Research and development 44 42 99 88 Total stock-based compensation $ 533 $ 479 $ 1,195 $ 1,088
Schedule of Weighted Average Fair Value of Employee Stock Option Grants	We computed the weighted average fair values of employee stock options for option grants issued during the nine months ended September 30, 2016 and 2015 using the Black-Scholes option model with the following assumptions: 2016 2015 Dividend yield 1.3 % 1.4 % Volatility 34.5 % 28.6 % Risk-free interest rate 1.2 % 1.8 % Weighted average expected option term (in years) 5.5 5.6 Weighted average fair value per share of options granted $ 4.04 $ 2.80

Net Income per Share (Tables)

Net Income per Share (Tables)	9 Months Ended
	Sep. 30, 2016
Earnings Per Share [Abstract]
Computation of Basic and Diluted Net Income per Share	The computation of basic and diluted net income per share was as follows: Three months ended Nine months ended 2016 2015 2016 2015 (in thousands, except per share data) Basic: Net income available for common stockholders $ 3,229 $ 2,092 $ 7,993 $ 5,228 Weighted average shares outstanding 18,524 17,865 18,423 17,625 Basic earnings per share $ 0.17 $ 0.12 $ 0.43 $ 0.30 Diluted: Net income available for common stockholders $ 3,229 $ 2,092 $ 7,993 $ 5,228 Weighted-average shares outstanding 18,524 17,865 18,423 17,626 Common stock equivalents, if dilutive 724 632 680 510 Shares used in computing diluted earnings per common share 19,248 18,497 19,103 18,136 Diluted earnings per share $ 0.17 $ 0.11 $ 0.42 $ 0.29 Shares excluded in computing diluted earnings per share as those shares would be anti-dilutive 76 40 44 81

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	9 Months Ended
	Sep. 30, 2016
Equity [Abstract]
Dividend Activity	The dividend activity for the periods presented is as follows: Record Date Payment Date Per Share Amount Dividend Payment (in thousands) Fiscal Year 2016 March 21, 2016 April 4, 2016 $ 0.045 $ 825 May 25, 2016 June 8, 2016 $ 0.045 $ 829 August 22,2016 September 2, 2016 $ 0.045 $ 833 Fiscal Year 2015 March 20, 2015 April 3, 2015 $ 0.040 $ 700 May 22, 2015 June 5, 2015 $ 0.040 $ 705 August 20, 2015 September 3, 2015 $ 0.040 $ 715 November 20, 2015 December 4, 2015 $ 0.040 $ 725

Supplemental Cash Flow Inform31

Supplemental Cash Flow Information (Tables)	9 Months Ended
	Sep. 30, 2016
Supplemental Cash Flow Elements [Abstract]
Supplemental Cash Flow Information	Nine months ended 2016 2015 (in thousands) Cash paid for income taxes, net $ 2,809 $ 3,341 Common stock repurchased for RSU tax witholdings $ 183 $ 266

Accumulated Other Comprehensi32

Accumulated Other Comprehensive Loss (Tables)	9 Months Ended
	Sep. 30, 2016
Equity [Abstract]
Summary of Accumulated Other Comprehensive Loss	Nine months ended 2016 2015 (in thousands) Beginning balance $ (4,049 ) $ (2,365 ) Other comprehensive income (loss) before reclassifications 836 (1,668 ) Amounts reclassified from accumulated other comprehensive loss — — Ending Balance $ (3,213 ) $ (4,033 )

Organization and Basis for Pr33

Organization and Basis for Presentation - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Excess tax benefits	$ 2,078	$ 1,047	$ 4,415	$ 3,061
Retained earnings	100
ASU 2016-09 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Excess tax benefits	$ 300

Income Tax Expense - Additional

Income Tax Expense - Additional Information (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Unrecognized tax benefits exclusive of interest and penalties, gross	$ 382	$ 82
Statute of limitations expiration period	Until 2,029

Income Tax Expense - Reconcilia

Income Tax Expense - Reconciliation of Beginning and Ending Amount of Unrecognized Tax Benefits (Detail) $ in Thousands	9 Months Ended
	Sep. 30, 2016USD ($)
Income Tax Disclosure [Abstract]
Unrecognized tax benefits as of December 31, 2015	$ 82
Additions for tax positions of current year	84
Additions for tax positions of prior years	216
Reductions for settlements with taxing authorities.	0
Reductions for lapses of the applicable statutes of limitations	0
Unrecognized tax benefits as of September 30, 2016	$ 382

Income Tax Expense - Summary of

Income Tax Expense - Summary of Tax Years Subject to Examination in Most Significant Tax Jurisdictions (Detail)	9 Months Ended
	Sep. 30, 2016
United States [Member]
Income Tax Examination [Line Items]
Income tax year under examination	2013 and forward
Foreign [Member]
Income Tax Examination [Line Items]
Income tax year under examination	2008 and forward

Inventories - Summary of Invent

Inventories - Summary of Inventories (Detail) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Inventory Disclosure [Abstract]
Raw materials	$ 2,910	$ 3,062
Work-in-process	2,684	2,681
Finished products	11,836	9,462
Total inventory	$ 17,430	$ 15,205

Inventories - Additional Inform

Inventories - Additional Information (Detail) - USD ($) $ in Millions	Sep. 30, 2016	Dec. 31, 2015
Inventory Disclosure [Abstract]
Inventory on consignment	$ 1.3	$ 1.1

Acquisition and Divestitures -

Acquisition and Divestitures - ProCol Biologic Graft - Additional Information (Detail) - ProCol Biologic Graft [Member] - USD ($) $ in Millions	Mar. 18, 2016	Sep. 30, 2016
Business Acquisition [Line Items]
Purchase price for acquisition of assets and rights	$ 2.7
Business combination, finished goods inventory and other related assets acquired	2
Business combination, other assets acquired	$ 0.7
Business combination consideration calculated, percentage of revenues	10.00%
Additional consideration initial value	$ 0.3
Payment made for assets purchased, percentage	50.00%	25.00%
Maximum goodwill deductible for tax purposes		15 years

Acquisition and Divestitures 40

Acquisition and Divestitures - Schedule of Recognized Identified Assets Acquired and Liabilities Assumed (Detail) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015	May 31, 2015
Business Acquisition [Line Items]
Goodwill	$ 18,206	$ 17,789
ProCol Biologic Graft [Member]
Business Acquisition [Line Items]
Inventory	2,080
Manufacturing equipment and supplies	25
Intangible assets	620
Goodwill	318
Purchase price	$ 3,043
Tru-Incise Valvulotome [Member]
Business Acquisition [Line Items]
Inventory			$ 88
Intangible assets			545
Goodwill			742
Purchase price			$ 1,375

Acquisition and Divestitures 41

Acquisition and Divestitures - Acquired Intangible Assets and Related Estimated Useful Lives (Detail) - USD ($) $ in Thousands	1 Months Ended	9 Months Ended
	May 31, 2015	Sep. 30, 2016
Business Acquisition [Line Items]
Weighted average useful life		7 years 10 months 24 days
ProCol Biologic Graft [Member]
Business Acquisition [Line Items]
Weighted average useful life		8 years 7 months 6 days
Allocated fair value		$ 620
ProCol Biologic Graft [Member] | Non-Compete Agreement [Member]
Business Acquisition [Line Items]
Weighted average useful life		5 years
Allocated fair value		$ 84
ProCol Biologic Graft [Member] | Trade Name [Member]
Business Acquisition [Line Items]
Weighted average useful life		9 years 6 months
Allocated fair value		$ 109
ProCol Biologic Graft [Member] | Customer Relationships [Member]
Business Acquisition [Line Items]
Weighted average useful life		9 years
Allocated fair value		$ 150
ProCol Biologic Graft [Member] | Intellectual Property [Member]
Business Acquisition [Line Items]
Weighted average useful life		9 years
Allocated fair value		$ 277
Tru-Incise Valvulotome [Member]
Business Acquisition [Line Items]
Allocated fair value	$ 545
Tru-Incise Valvulotome [Member] | Non-Compete Agreement [Member]
Business Acquisition [Line Items]
Weighted average useful life	5 years
Allocated fair value	$ 120
Tru-Incise Valvulotome [Member] | Product Technology [Member]
Business Acquisition [Line Items]
Weighted average useful life	7 years
Allocated fair value	$ 391
Tru-Incise Valvulotome [Member] | Customer Relationships [Member]
Business Acquisition [Line Items]
Weighted average useful life	3 years
Allocated fair value	$ 17
Tru-Incise Valvulotome [Member] | Tradename License [Member]
Business Acquisition [Line Items]
Weighted average useful life	3 years
Allocated fair value	$ 17

Acquisitions and Divestitures -

Acquisitions and Divestitures - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2016
Business Acquisition [Line Items]
Weighted average useful life	7 years 10 months 24 days
ProCol Biologic Graft [Member]
Business Acquisition [Line Items]
Weighted average useful life	8 years 7 months 6 days

Acquisition and Divestitures 43

Acquisition and Divestitures - Tru-Incise Valvulotome - Additional Information (Detail) - Tru-Incise Valvulotome [Member] - USD ($) $ in Millions	1 Months Ended	9 Months Ended
	May 31, 2015	Sep. 30, 2016
Business Acquisition [Line Items]
Purchase price for acquisition of assets and rights	$ 1.4
Cash paid for assets purchased	1.1
Balance payable to Clinical Instruments	$ 0.3
Acquisition date of assets and rights		May 31, 2015
Maximum goodwill deductible for tax purposes	15 years

Acquisition and Divestitures 44

Acquisition and Divestitures - Other 2015 Items - Additional Information (Detail) $ in Millions	1 Months Ended		9 Months Ended
	Aug. 31, 2015USD ($)	May 31, 2015USD ($)Agreement	Sep. 30, 2016
Business Acquisition [Line Items]
Weighted average useful life			7 years 10 months 24 days
Grex Medical Oy [Member]
Business Acquisition [Line Items]
Purchase price for acquisition of assets and rights	$ 0.2
Acquisition date of assets and rights			Jan. 1, 2016
UreSil, LLC, Distributors [Member]
Business Acquisition [Line Items]
Number of definitive agreements | Agreement		7
Intangible assets		$ 0.2
Weighted average useful life			3 years
Purchase price for acquisition of assets and rights		$ 0.2

Acquisition and Divestitures 45

Acquisition and Divestitures - Angioscope - Additional Information (Detail) - USD ($) $ in Millions	1 Months Ended		3 Months Ended	9 Months Ended
	Dec. 31, 2015	Sep. 30, 2014	Mar. 31, 2016	Sep. 30, 2016
Business Acquisition [Line Items]
Weighted average useful life				7 years 10 months 24 days
Angioscope [Member]
Business Acquisition [Line Items]
Purchase price for acquisition of assets and rights		$ 0.4
Cash paid for assets purchased	$ 0.1	0.3	$ 0.1
Tangible assets		0.1
Intangible assets		0.3
Goodwill		$ 0.1
Weighted average useful life		7 years 6 months
Maximum goodwill deductible for tax purposes		15 years

Acquisition and Divestitures 46

Acquisition and Divestitures - Xenotis Pty Ltd - Additional Information (Detail) - USD ($) $ in Thousands	Nov. 30, 2014	Aug. 31, 2015	Sep. 30, 2014	Aug. 31, 2014	Sep. 30, 2016	Dec. 31, 2014	Dec. 31, 2015
Business Acquisition [Line Items]
Weighted average useful life					7 years 10 months 24 days
Goodwill					$ 18,206		$ 17,789
Xenotis Pty Ltd [Member]
Business Acquisition [Line Items]
Purchase price for acquisition of assets and rights				$ 6,700
Acquisition date of assets and rights					Aug. 31, 2014
Cash paid for assets purchased		$ 1,400		5,100
Adjustment to tangible asset acquired	$ 200
Tangible assets				2,100
Property and equipment				2,100
Intangible assets				1,800
Goodwill				$ 2,500
Weighted average useful life				5 years
Liabilities assumed include payables and debt				$ 1,700
Goodwill				2,500
Deferred tax assets acquired				2,400
Xenotis Pty Ltd [Member] | Accounts Payable [Member]
Business Acquisition [Line Items]
Cash paid for assets purchased				$ 600
Xenotis Pty Ltd [Member] | Europe [Member]
Business Acquisition [Line Items]
Purchase price for acquisition of assets and rights			$ 1,300
Cash paid for assets purchased						$ 1,100
Intangible assets					$ 900
Weighted average useful life			5 years
Inventory					$ 400

Goodwill and Other Intangible47

Goodwill and Other Intangibles - Schedule of Goodwill (Detail) $ in Thousands	9 Months Ended
	Sep. 30, 2016USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Balance at December 31, 2015	$ 17,789
Additions for acquisitions	318
Effects of currency exchange	99
Balance at September 30, 2016	$ 18,206

Goodwill and Other Intangible48

Goodwill and Other Intangibles - Components of Identifiable Intangible Assets (Detail) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 14,531	$ 13,771
Accumulated Amortization	8,659	7,435
Net Carrying Value of Intangible Assets	5,872	6,336
Product Technology and Intellectual Property [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	7,452	7,113
Accumulated Amortization	3,825	3,247
Net Carrying Value of Intangible Assets	3,627	3,866
Trademarks, Tradenames and Licenses [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	1,675	1,560
Accumulated Amortization	1,332	1,230
Net Carrying Value of Intangible Assets	343	330
Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	4,015	3,801
Accumulated Amortization	2,527	2,143
Net Carrying Value of Intangible Assets	1,488	1,658
Other Intangible Assets [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	1,389	1,297
Accumulated Amortization	975	815
Net Carrying Value of Intangible Assets	$ 414	$ 482

Goodwill and Other Intangible49

Goodwill and Other Intangibles - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2016
Finite-Lived Intangible Assets [Line Items]
Weighted-average amortization period for intangibles	7 years 10 months 24 days
Maximum [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets useful lives	13 years
Minimum [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets useful lives	1 year

Goodwill and Other Intangible50

Goodwill and Other Intangibles - Amortization Expense Included in General and Administrative Expense (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense	$ 385	$ 387	$ 1,170	$ 1,135

Goodwill and Other Intangible51

Goodwill and Other Intangibles - Estimated Amortization Expense for Each of Five Succeeding Fiscal Years (Detail) $ in Thousands	Sep. 30, 2016USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense, Remainder of Fiscal Year 2016	$ 372
Amortization expense, Fiscal Year 2017	1,305
Amortization expense, Fiscal Year 2018	1,120
Amortization expense, Fiscal Year 2019	930
Amortization expense, Fiscal Year 2020	670
Amortization expense, Fiscal Year 2021	$ 497

Accrued Expenses - Accrued Expe

Accrued Expenses - Accrued Expenses (Detail) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Payables and Accruals [Abstract]
Compensation and related taxes	$ 5,418	$ 6,062
Income and other taxes	2,785	483
Professional fees	131	530
Other	1,974	1,762
Total	$ 10,308	$ 8,837

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) $ in Millions	9 Months Ended
	Sep. 30, 2016USD ($)
Commitments and Contingencies Disclosure [Abstract]
Commitments to purchase inventory	$ 4.2
Purchase commitments inventory expire year	2,017

Segment and Enterprise-Wide D54

Segment and Enterprise-Wide Disclosures - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2016Segment
Segment Reporting [Abstract]
Number of operating segments	1

Segment and Enterprise-Wide D55

Segment and Enterprise-Wide Disclosures - Net Sales to Unaffiliated Customers by Geography (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Segment Reporting Information [Line Items]
Net sales	$ 23,216	$ 19,025	$ 65,863	$ 57,869
United States [Member]
Segment Reporting Information [Line Items]
Net sales	13,718	11,171	37,180	33,774
Germany [Member]
Segment Reporting Information [Line Items]
Net sales	2,651	2,208	7,920	6,900
Other Countries [Member]
Segment Reporting Information [Line Items]
Net sales	$ 6,847	$ 5,646	$ 20,763	$ 17,195

Share-based Compensation - Shar

Share-based Compensation - Share-based Compensation Expense (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Schedule of Trading Securities and Other Trading Assets [Line Items]
Total share-based compensation	$ 533	$ 479	$ 1,195	$ 1,088
Stock Option Awards [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Total share-based compensation	354	327	809	752
Restricted Stock Units [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Total share-based compensation	$ 179	$ 152	$ 386	$ 336

Share-based Compensation - Sche

Share-based Compensation - Schedule of Stock-based Compensation (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Cost of sales	$ 533	$ 479	$ 1,195	$ 1,088
Cost of Sales [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Cost of sales	46	53	117	126
Sales and Marketing [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Cost of sales	129	108	271	213
General and Administrative [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Cost of sales	314	276	708	661
Research and Development [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Cost of sales	$ 44	$ 42	$ 99	$ 88

Share-based Compensation - Addi

Share-based Compensation - Additional Information (Detail) - $ / shares	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Issue of common stock	285,000	721,000
Employees and Non-Employee Directors [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options granted	511,000	499,000
Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units granted, weighted-average fair value	$ 14.11	$ 11.32
Restricted Stock Units [Member] | Employees [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units granted	126,000	63,000

Share-based Compensation - Sc59

Share-based Compensation - Schedule of Weighted Average Fair Value of Employee Stock Option Grants (Detail) - $ / shares	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract]
Dividend yield	1.30%	1.40%
Volatility	34.50%	28.60%
Risk-free interest rate	1.20%	1.80%
Weighted average expected option term (in years)	5 years 6 months	5 years 7 months 6 days
Weighted average fair value per share of options granted	$ 4.04	$ 2.80

Net Income per Share - Computat

Net Income per Share - Computation of Basic and Diluted Net Income per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Basic:
Net income available for common stockholders	$ 3,229	$ 2,092	$ 7,993	$ 5,228
Weighted average shares outstanding	18,524	17,865	18,423	17,625
Basic earnings per share	$ 0.17	$ 0.12	$ 0.43	$ 0.30
Diluted:
Net income available for common stockholders	$ 3,229	$ 2,092	$ 7,993	$ 5,228
Weighted-average shares outstanding	18,524	17,865	18,423	17,625
Common stock equivalents, if dilutive	724	632	680	510
Shares used in computing diluted earnings per common share	19,248	18,497	19,103	18,136
Diluted earnings per share	$ 0.17	$ 0.11	$ 0.42	$ 0.29
Shares excluded in computing diluted earnings per share as those shares would be anti-dilutive	76	40	44	81

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Detail) - USD ($)	Oct. 24, 2016	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Jul. 25, 2016
Business Acquisition, Equity Interests Issued or Issuable [Line Items]
Share Repurchase Program, expiration date				Jul. 25, 2017
Cash dividend on common stock per share		$ 0.045	$ 0.040	$ 0.135	$ 0.120
Dividend payment date				Dec. 5, 2016
Dividend record date				Nov. 21, 2016
Common Stock [Member]
Business Acquisition, Equity Interests Issued or Issuable [Line Items]
Repurchase of common stock						$ 5,000,000
Subsequent Event [Member]
Business Acquisition, Equity Interests Issued or Issuable [Line Items]
Cash dividend on common stock per share	$ 0.045
Dividend payments	$ 800,000

Stockholders' Equity - Dividend

Stockholders' Equity - Dividend Activity (Detail) - USD ($) $ / shares in Units, $ in Thousands

1 Months Ended

3 Months Ended

9 Months Ended

Feb. 28, 2011

Sep. 30, 2016

Sep. 30, 2015

Sep. 30, 2016

Sep. 30, 2015

Sep. 02, 2016

Jun. 08, 2016

Apr. 04, 2016

Dec. 04, 2015

Sep. 03, 2015

Jun. 05, 2015

Apr. 03, 2015

Dividends Payable [Line Items]

Record Date

Nov. 21, 2016

Payment Date

Dec. 5, 2016

Per Share Amount

$ 0.045

$ 0.040

$ 0.135

$ 0.120

Installment 1 FY 2016 [Member]

Dividends Payable [Line Items]

Record Date

Mar. 21, 2016

Payment Date

Apr. 4, 2016

Per Share Amount

$ 0.045

Dividend Payment

$ 825

Installment 2 FY 2016 [Member]

Dividends Payable [Line Items]

Record Date

May 25, 2016

Payment Date

Jun. 8, 2016

Per Share Amount

0.045

Dividend Payment

$ 829

Installment 3 FY 2016 [Member]

Dividends Payable [Line Items]

Record Date

Aug. 22, 2016

Payment Date

Sep. 2, 2016

Per Share Amount

0.045

Dividend Payment

$ 833

Installment 1 FY 2015 [Member]

Dividends Payable [Line Items]

Record Date

Mar. 20, 2015

Payment Date

Apr. 3, 2015

Per Share Amount

0.040

Dividend Payment

$ 700

Installment 2 FY 2015 [Member]

Dividends Payable [Line Items]

Record Date

May 22, 2015

Payment Date

Jun. 5, 2015

Per Share Amount

0.040

Dividend Payment

$ 705

Installment 3 FY 2015 [Member]

Dividends Payable [Line Items]

Record Date

Aug. 20, 2015

Payment Date

Sep. 3, 2015

Per Share Amount

0.040

Dividend Payment

$ 715

Installment 4 FY 2015 [Member]

Dividends Payable [Line Items]

Record Date

Nov. 20, 2015

Payment Date

Dec. 4, 2015

Per Share Amount

$ 0.040

Dividend Payment

$ 725

Supplemental Cash Flow Inform63

Supplemental Cash Flow Information - Supplemental Cash Flow Information (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Supplemental Cash Flow Elements [Abstract]
Cash paid for income taxes, net	$ 2,809	$ 3,341
Common stock repurchased for RSU tax withholdings	$ 183	$ 266

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2016USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Changes in estimated liabilities, fair value	$ 0
Level 1 [Member] | Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents in money market fund	16,000,000
Level 2 [Member] | Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value	$ 0

Accumulated Other Comprehensi65

Accumulated Other Comprehensive Loss - Summary of Accumulated Other Comprehensive Loss (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	$ 77,884
Ending Balance	86,690
Accumulated Other Comprehensive Income (Loss) [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(4,049)	$ (2,365)
Other comprehensive income (loss) before reclassifications	836	(1,668)
Amounts reclassified from accumulated other comprehensive loss	0	0
Ending Balance	$ (3,213)	$ (4,033)