LeMaitre Vascular (LMAT) 10-Q 3 Nov 17 2017 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2017	Oct. 31, 2017
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2017
Document Fiscal Year Focus	2,017
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		19,264,940

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 37,514	$ 24,288
Accounts receivable, net of allowances of $315 at September 30, 2017, and $258 at December 31, 2016	13,553	13,191
Inventory and other deferred costs	21,095	19,578
Prepaid expenses and other current assets	3,480	1,970
Total current assets	75,642	59,027
Property and equipment, net	11,367	8,012
Goodwill	23,850	23,426
Other intangibles, net	8,669	9,897
Deferred tax assets	1,562	1,399
Other assets	179	163
Total assets	121,269	101,924
Current liabilities:
Accounts payable	1,617	1,217
Accrued expenses	8,803	8,804
Acquisition-related obligations	1,690	461
Total current liabilities	12,110	10,482
Deferred tax liabilities	1,948	1,941
Other long-term liabilities	1,098	2,001
Total liabilities	15,156	14,424
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 20,742,411 shares at September 30, 2017, and 20,040,348 shares at December 31, 2016	207	200
Additional paid-in capital	92,685	85,378
Retained earnings	25,109	15,335
Accumulated other comprehensive loss	(2,280)	(4,583)
Treasury stock, at cost; 1,480,101 shares at September 30, 2017 and 1,452,810 shares at December 31, 2016	(9,608)	(8,830)
Total stockholders' equity	106,113	87,500
Total liabilities and stockholders' equity	$ 121,269	$ 101,924

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Statement of Financial Position [Abstract]
Accounts receivable, allowances	$ 315	$ 258
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	20,742,411	20,040,348
Treasury stock, at cost	1,480,101	1,452,810

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Income Statement [Abstract]
Net sales	$ 24,822	$ 23,216	$ 74,714	$ 65,863
Cost of sales	7,245	6,197	22,269	19,121
Gross profit	17,577	17,019	52,445	46,742
Sales and marketing	6,201	6,541	19,754	19,353
General and administrative	4,562	3,595	12,857	10,343
Research and development	1,761	1,539	5,053	4,619
Total operating expenses	12,524	11,675	37,664	34,315
Income from operations	5,053	5,344	14,781	12,427
Other income (expense):
Interest income	48	24	100	55
Foreign currency gain (loss)	(28)	(61)	(103)	(74)
Income before income taxes	5,073	5,307	14,778	12,408
Provision for income taxes	31	2,078	1,885	4,415
Net income	$ 5,042	$ 3,229	$ 12,893	$ 7,993
Earnings per share of common stock:
Basic	$ 0.26	$ 0.17	$ 0.68	$ 0.43
Diluted	$ 0.25	$ 0.17	$ 0.65	$ 0.42
Weighted-average shares outstanding:
Basic	19,124	18,524	18,859	18,423
Diluted	20,147	19,248	19,970	19,103
Cash dividends declared per common share	$ 0.055	$ 0.045	$ 0.165	$ 0.135

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
Net income	$ 5,042	$ 3,229	$ 12,893	$ 7,993
Other comprehensive income (loss):
Foreign currency translation adjustment, net	664	312	2,303	836
Total other comprehensive income (loss)	664	312	2,303	836
Comprehensive income	$ 5,706	$ 3,541	$ 15,196	$ 8,829

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Operating activities
Net income	$ 12,893	$ 7,993
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	2,966	2,658
Stock-based compensation	1,845	1,195
Provision for (recovery of) doubtful accounts	152	52
Provision for inventory write-downs	272	280
Foreign currency transaction loss	(34)	(1)
Changes in operating assets and liabilities:
Accounts receivable	(50)	(68)
Inventory and other deferred costs	(1,330)	(216)
Prepaid expenses and other assets	(1,403)	(390)
Accounts payable and other liabilities	787	1,199
Net cash provided by operating activities	16,098	12,702
Investing activities
Purchases of property and equipment and other assets	(4,780)	(1,830)
Payments related to acquisitions		(2,368)
Net cash used in investing activities	(4,780)	(4,198)
Financing activities
Payments of deferred acquisition consideration	(427)	(249)
Proceeds from issuance of common stock	5,470	1,384
Purchase of treasury stock	(778)	(183)
Common stock cash dividend paid	(3,119)	(2,487)
Net cash provided by (used in) financing activities	1,146	(1,535)
Effect of exchange rate changes on cash and cash equivalents	762	230
Net increase in cash and cash equivalents	13,226	7,199
Cash and cash equivalents at beginning of period	24,288	27,451
Cash and cash equivalents at end of period	$ 37,514	$ 34,650

Organization and Basis for Pres

Organization and Basis for Presentation	9 Months Ended
	Sep. 30, 2017
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 requires 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 also derive revenues from the processing and cryopreservation of human tissues for implantation in patients. We operate in a single segment in which our principal product lines include the following: valvulotomes, biologic vascular patches, balloon catheters, carotid shunts, biologic vascular grafts, anastomotic clips, radiopaque marking tape, vascular grafts, remote endarterectomy devices, laparoscopic cholecystectomy devices, angioscopes, and powered phlebectomy devices. Our offices are located in Burlington, Massachusetts; Fox River Grove, Illinois; 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 S-X. 10-K 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 May 2017, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (ASU) 2017-09 In January 2017, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (ASU) 2017-04, In January 2017, the FASB issued ASU 2017-01 In August 2016, the FASB issued ASU 2016-15, In May 2014, the FASB and the International Accounting Standards Board issued substantially converged final standards on revenue recognition. The FASB’s ASU No. 2014-09,

Income Tax Expense

Income Tax Expense	9 Months Ended
	Sep. 30, 2017
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 2017 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 second and third quarters of 2017, we recognized certain discrete items primarily related to the exercise of stock options. Our 2016 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, 2017, the gross amount of unrecognized tax benefits exclusive of interest and penalties was $451,000. 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 2025. A reconciliation of beginning and ending amount of our unrecognized tax benefits is as follows: Nine months (in thousands) Unrecognized tax benefits as of December 31, 2016 $ 390 Additions for tax positions of current year 66 Additions for tax positions of prior years — Reductions for settlements with taxing authorities. — Reductions for lapses of the applicable statutes of limitations (5 ) Unrecognized tax benefits as of September 30, 2017 $ 451 As of September 30, 2017, a summary of the tax years that remain subject to examination in our taxing jurisdictions is as follows: United States 2014 and forward Foreign 2010 and forward

Inventories and Other Deferred

Inventories and Other Deferred Costs	9 Months Ended
	Sep. 30, 2017
Text Block [Abstract]
Inventories and Other Deferred Costs	3. Inventories and Other Deferred Costs Inventories and other deferred costs consist of the following: September 30, 2017 December 31, 2016 (in thousands) Raw materials $ 3,657 $ 2,810 Work-in-process 3,491 2,489 Finished products 11,944 11,662 Other deferred costs 2,003 2,617 Total inventory and other deferred costs $ 21,095 $ 19,578 We had inventory on consignment of $1.3 million and $1.1 million at September 30, 2017 and December 31, 2016, respectively. In connection with our recent acquisition of the RestoreFlow allograft business, other deferred costs include costs incurred for the preservation of human vascular tissue available for shipment, tissue currently in active processing, and tissue held in quarantine pending release to implantable status. By federal law, human tissue cannot be bought or sold. Therefore, the tissues we preserve are not held as inventory, and the costs we incur to procure and process vascular tissue are instead accumulated and deferred.

Acquisition and Divestitures

Acquisition and Divestitures	9 Months Ended
	Sep. 30, 2017
Business Combinations [Abstract]
Acquisition and Divestitures	4. Acquisition and Divestitures Our strategy for growing our business includes the acquisition of complementary product lines and businesses. 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 and services, 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. RestoreFlow Allografts On November 10, 2016, we entered into an agreement to acquire the assets of Restore Flow Allografts, LLC, a provider of human vascular tissue processing and cryopreservation services, for an initial purchase price of $12 million, with additional payments of up to $6 million, depending upon the satisfaction of certain contingencies. A payment of $2 million is due not later than 15 days following the expiration of the 18 month period following the closing date, subject to reductions as specified in the agreement for each calendar month that certain retained employees are not employed by us due to resignation without good reason, or termination for cause, both as defined in the agreement. The portion of this payment that will be paid to retained employees and that is contingent on their continuing employment, approximately $0.9 million, is being accounted for as post-combination compensation expense rather than purchase consideration. There are also two potential earn-outs under the agreement. The first earn-out earn-out The RestoreFlow business derives revenue from human tissue preservation services, in particular the processing and cryopreservation of veins and arteries. By federal law, human tissues cannot be bought or sold. Therefore, the tissues we obtain and preserve are not held as inventory, and the costs we incur to procure and process vascular tissues are instead accumulated and deferred. Revenues are recognized for the provision of cryopreservation services rather than product sales. The acquired assets included intellectual property, permits and approvals, data and records, equipment and furnishings, accounts receivable, inventory, literature, and customer and supplier information. We also assumed certain accounts payable. We accounted for the acquisition as a business combination. The following table summarizes the preliminary purchase price allocation as of September 30, 2017: Allocated (in thousands) Accounts receivable $ 394 Deferred cryopreservation costs 2,583 Equipment and supplies 125 Accounts payable (286 ) Intangible assets 4,544 Goodwill 5,599 Purchase price $ 12,959 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 $ 180 5.0 years Tradename 271 9.0 years Procurement contracts 617 9.0 years Technology 2,793 10.5 years Customer relationships 683 12.5 years Total intangible assets $ 4,544 The weighted-average amortization period of the acquired intangible assets was 10.3 years. 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 remaining 25% of which was paid in the quarter ended March 31, 2017. 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 Assets acquired included inventory, intellectual property and a related license, the ProCol trade name, customer lists, non-compete The following table summarizes the purchase price allocation as of the acquisition date: 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 allocation of the acquired intangible assets and related estimated useful lives: Allocated Weighted (in thousands) Non-compete $ 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 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 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 $ 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	9 Months Ended
	Sep. 30, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangibles	5. Goodwill and Other Intangibles Goodwill consists of the following as of September 30, 2017: (in thousands) Balance at December 31, 2016 $ 23,426 Purchase accounting adjustments 257 Effects of currency exchange 167 Balance at September 30, 2017 $ 23,850 Other intangible assets consist of the following: September 30, 2017 December 31, 2016 Gross Accumulated Net Gross Accumulated Net (in thousands) Product technology $ 10,271 $ 4,694 $ 5,577 $ 10,173 $ 4,017 $ 6,156 Trademarks and licenses 1,949 1,445 504 1,939 1,359 580 Customer relationships 5,372 3,142 2,230 5,216 2,588 2,628 Other intangible assets 1,574 1,216 358 1,558 1,025 533 Total identifiable intangible assets $ 19,166 $ 10,497 $ 8,669 $ 18,886 $ 8,989 $ 9,897 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, 2017 is 9.1 years. Amortization expense is included in general and administrative expense and is as follows: Three months ended September 30, Nine months ended September 30, 2017 2016 2017 2016 (in thousands) Amortization expense $ 443 $ 385 $ 1,353 $ 1,170

Accrued Expenses and Other Long

Accrued Expenses and Other Long-term Liabilities	9 Months Ended
	Sep. 30, 2017
Payables and Accruals [Abstract]
Accrued Expenses and Other Long-term Liabilities	6. Accrued Expenses and Other Long-term Liabilities Accrued expenses consist of the following: September 30, 2017 December 31, 2016 (in thousands) Compensation and related taxes $ 5,715 $ 6,124 Income and other taxes 544 312 Professional fees 43 122 Other 2,501 2,246 Total $ 8,803 $ 8,804 Other long-term liabilities consist of the following: September 30, 2017 December 31, 2016 (in thousands) Aquisition-related liabilities $ 159 $ 1,253 Deferred rent 534 394 Income taxes 208 200 Other 197 154 Total $ 1,098 $ 2,001

Segment and Enterprise-Wide Dis

Segment and Enterprise-Wide Disclosures	9 Months Ended
	Sep. 30, 2017
Segment Reporting [Abstract]
Segment and Enterprise-Wide Disclosures	7. 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, Japan and China. 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 2017 2016 2017 2016 (in thousands) United States $ 14,506 $ 13,718 $ 43,485 $ 37,180 Germany 2,885 2,651 8,624 7,920 Other countries 7,431 6,847 22,605 20,763 Net Sales $ 24,822 $ 23,216 $ 74,714 $ 65,863

Share-based Compensation

Share-based Compensation	9 Months Ended
	Sep. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-based Compensation	8. Share-based Compensation Our Third Amended and Restated 2006 Stock Option and Incentive Plan allows for granting of incentive stock options, non-qualified The components of share-based compensation expense were as follows: Three months ended Nine months ended September 30, 2017 2016 2017 2016 (in thousands) Stock option awards $ 723 $ 354 $ 1,347 $ 809 Restricted stock units 164 179 498 386 Total share-based compensation $ 887 $ 533 $ 1,845 $ 1,195 Stock-based compensation is included in our statements of operations as follows: Three months ended Nine months ended September 30, 2017 2016 2017 2016 (in thousands) Cost of sales $ 46 $ 46 $ 141 $ 117 Sales and marketing 78 129 309 271 General and administrative 718 314 1,261 708 Research and development 45 44 134 99 Total stock-based compensation $ 887 $ 533 $ 1,845 $ 1,195 Included in stock-based compensation expense for the three and nine months ended September 30, 2017 is a stock option modification charge of $0.5 million for awards that are being allowed to continue to vest for approximately one year beyond the requisite service period associated with the recent departure of our President of International Operations. This expense is included in the caption “General and administrative” above. Options granted during the nine months ended September 30, 2017 were not material. During the nine months ended September 30, 2016, we granted options to purchase 511,000 shares of our stock to employees and non-employee 2016 Dividend yield 1.3 % Volatility 34.5 % Risk-free interest rate 1.2 % Weighted average expected option term (in years) 5.5 Weighted average fair value per share of options granted $ 4.04 Restricted stock awards during the nine months ended September 30, 2017 were not material. During the nine months ended September 30, 2016 we awarded restricted stock units of 126,000 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. We issued approximately 702,000 and 285,000 shares of common stock following the exercise or vesting of underlying stock options or restricted stock units in the nine months ended September 30, 2017 and 2016, respectively.

Net Income per Share

Net Income per Share	9 Months Ended
	Sep. 30, 2017
Earnings Per Share [Abstract]
Net Income per Share	9. Net Income per Share The computation of basic and diluted net income per share was as follows: Three months ended Nine months ended 2017 2016 2017 2016 (in thousands, except per share data) Basic: Net income available for common stockholders $ 5,042 $ 3,229 $ 12,893 $ 7,993 Weighted average shares outstanding 19,124 18,524 18,859 18,423 Basic earnings per share $ 0.26 $ 0.17 $ 0.68 $ 0.43 Diluted: Net income available for common stockholders $ 5,042 $ 3,229 $ 12,893 $ 7,993 Weighted-average shares outstanding 19,124 18,524 18,859 18,423 Common stock equivalents, if dilutive 1,023 724 1,111 680 Shares used in computing diluted earnings per common share 20,147 19,248 19,970 19,103 Diluted earnings per share $ 0.25 $ 0.17 $ 0.65 $ 0.42 Shares excluded in computing diluted earnings per share as those shares would be anti-dilutive — 426 1 143

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Sep. 30, 2017
Equity [Abstract]
Stockholders' Equity	10. Stockholders’ Equity Share Repurchase Program On July 25, 2016, our Board of Directors approved a stock repurchase program under which the Company was authorized to repurchase up to $5 million of its common stock through transactions on the open market, in privately negotiated purchases or otherwise. This program expired on July 25, 2017. We did not make any repurchases under this program prior to its expiration. On July 25, 2017, our Board of Directors approved a stock repurchase program under which the Company is authorized to repurchase up to $7.5 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, 2018 or when the $7.5 million repurchase limit is reached, unless extended by our Board of Directors. To date, we have not made any 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 2017 March 22, 2017 April 6, 2017 $ 0.055 $ 1,029 May 24, 2017 June 8, 2017 $ 0.055 $ 1,036 August 23, 2017 September 6, 2017 $ 0.055 $ 1,055 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 November 21, 2016 December 5, 2016 $ 0.045 $ 836 On October 24, 2017 our Board of Directors approved a quarterly cash dividend on our common stock of $0.055 per share payable on December 7, 2017 to stockholders of record at the close of business on November 22, 2017, which will total approximately $1.1 million.

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	9 Months Ended
	Sep. 30, 2017
Supplemental Cash Flow Elements [Abstract]
Supplemental Cash Flow Information	11. Supplemental Cash Flow Information Nine months ended 2017 2016 (in thousands) Cash paid for income taxes, net $ 2,953 $ 2,809 Shares withheld to satisfy RSU tax withholdings $ 778 $ 183

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2017
Fair Value Disclosures [Abstract]
Fair Value Measurements	12. 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, 2017, 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 $19.0 million. We had no Level 2 assets being measured at fair value on a recurring basis as of September 30, 2017. 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. During the nine months ended September 30, 2017 we made fair-value adjustments to our contingent liabilities of $0.6 million.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	9 Months Ended
	Sep. 30, 2017
Equity [Abstract]
Accumulated Other Comprehensive Loss	13. Accumulated Other Comprehensive Loss Nine months ended 2017 2016 (in thousands) Beginning balance $ (4,583 ) $ (4,049 ) Other comprehensive income (loss) before reclassifications 2,303 836 Amounts reclassified from accumulated other comprehensive loss — — Ending Balance $ (2,280 ) $ (3,213 ) Changes to our accumulated other comprehensive loss consisted of foreign currency translation for the nine months ended September 30, 2017 and 2016.

Organization and Basis for Pr20

Organization and Basis for Presentation (Policies)	9 Months Ended
	Sep. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
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 S-X. 10-K
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 May 2017, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (ASU) 2017-09 In January 2017, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (ASU) 2017-04, In January 2017, the FASB issued ASU 2017-01 In August 2016, the FASB issued ASU 2016-15, In May 2014, the FASB and the International Accounting Standards Board issued substantially converged final standards on revenue recognition. The FASB’s ASU No. 2014-09,
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, 2017
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: Nine months (in thousands) Unrecognized tax benefits as of December 31, 2016 $ 390 Additions for tax positions of current year 66 Additions for tax positions of prior years — Reductions for settlements with taxing authorities. — Reductions for lapses of the applicable statutes of limitations (5 ) Unrecognized tax benefits as of September 30, 2017 $ 451
Summary of Tax Years Subject to Examination in Taxing Jurisdictions	As of September 30, 2017, a summary of the tax years that remain subject to examination in our taxing jurisdictions is as follows: United States 2014 and forward Foreign 2010 and forward

Inventories and Other Deferre22

Inventories and Other Deferred Costs (Tables)	9 Months Ended
	Sep. 30, 2017
Text Block [Abstract]
Summary of Inventories and Other Deferred Costs	Inventories and other deferred costs consist of the following: September 30, 2017 December 31, 2016 (in thousands) Raw materials $ 3,657 $ 2,810 Work-in-process 3,491 2,489 Finished products 11,944 11,662 Other deferred costs 2,003 2,617 Total inventory and other deferred costs $ 21,095 $ 19,578

Acquisition and Divestitures (T

Acquisition and Divestitures (Tables)	9 Months Ended
	Sep. 30, 2017
Restore Flow Allografts [Member]
Summary of Purchase Price Allocation	The following table summarizes the preliminary purchase price allocation as of September 30, 2017: Allocated (in thousands) Accounts receivable $ 394 Deferred cryopreservation costs 2,583 Equipment and supplies 125 Accounts payable (286 ) Intangible assets 4,544 Goodwill 5,599 Purchase price $ 12,959
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 $ 180 5.0 years Tradename 271 9.0 years Procurement contracts 617 9.0 years Technology 2,793 10.5 years Customer relationships 683 12.5 years Total intangible assets $ 4,544
ProCol Biologic Graft [Member]
Summary of Purchase Price Allocation	The following table summarizes the purchase price allocation as of the acquisition date: 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 allocation of the acquired intangible assets and related estimated useful lives: Allocated Weighted (in thousands) Non-compete $ 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]
Summary of Purchase Price Allocation	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 $ 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, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	Goodwill consists of the following as of September 30, 2017: (in thousands) Balance at December 31, 2016 $ 23,426 Purchase accounting adjustments 257 Effects of currency exchange 167 Balance at September 30, 2017 $ 23,850
Components of Identifiable Intangible Assets	Other intangible assets consist of the following: September 30, 2017 December 31, 2016 Gross Accumulated Net Gross Accumulated Net (in thousands) Product technology $ 10,271 $ 4,694 $ 5,577 $ 10,173 $ 4,017 $ 6,156 Trademarks and licenses 1,949 1,445 504 1,939 1,359 580 Customer relationships 5,372 3,142 2,230 5,216 2,588 2,628 Other intangible assets 1,574 1,216 358 1,558 1,025 533 Total identifiable intangible assets $ 19,166 $ 10,497 $ 8,669 $ 18,886 $ 8,989 $ 9,897
Amortization Expense Included in General and Administrative Expense	Amortization expense is included in general and administrative expense and is as follows: Three months ended September 30, Nine months ended September 30, 2017 2016 2017 2016 (in thousands) Amortization expense $ 443 $ 385 $ 1,353 $ 1,170

Accrued Expenses and Other Lo25

Accrued Expenses and Other Long-term Liabilities (Tables)	9 Months Ended
	Sep. 30, 2017
Payables and Accruals [Abstract]
Accrued Expenses	Accrued expenses consist of the following: September 30, 2017 December 31, 2016 (in thousands) Compensation and related taxes $ 5,715 $ 6,124 Income and other taxes 544 312 Professional fees 43 122 Other 2,501 2,246 Total $ 8,803 $ 8,804
Schedule of Other Long-term Liabilities	Other long-term liabilities consist of the following: September 30, 2017 December 31, 2016 (in thousands) Aquisition-related liabilities $ 159 $ 1,253 Deferred rent 534 394 Income taxes 208 200 Other 197 154 Total $ 1,098 $ 2,001

Segment and Enterprise-Wide D26

Segment and Enterprise-Wide Disclosures (Tables)	9 Months Ended
	Sep. 30, 2017
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 2017 2016 2017 2016 (in thousands) United States $ 14,506 $ 13,718 $ 43,485 $ 37,180 Germany 2,885 2,651 8,624 7,920 Other countries 7,431 6,847 22,605 20,763 Net Sales $ 24,822 $ 23,216 $ 74,714 $ 65,863

Share-based Compensation (Table

Share-based Compensation (Tables)	9 Months Ended
	Sep. 30, 2017
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 September 30, 2017 2016 2017 2016 (in thousands) Stock option awards $ 723 $ 354 $ 1,347 $ 809 Restricted stock units 164 179 498 386 Total share-based compensation $ 887 $ 533 $ 1,845 $ 1,195
Schedule of Stock-based Compensation	Stock-based compensation is included in our statements of operations as follows: Three months ended Nine months ended September 30, 2017 2016 2017 2016 (in thousands) Cost of sales $ 46 $ 46 $ 141 $ 117 Sales and marketing 78 129 309 271 General and administrative 718 314 1,261 708 Research and development 45 44 134 99 Total stock-based compensation $ 887 $ 533 $ 1,845 $ 1,195
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 using the Black-Scholes option model with the following assumptions: 2016 Dividend yield 1.3 % Volatility 34.5 % Risk-free interest rate 1.2 % Weighted average expected option term (in years) 5.5 Weighted average fair value per share of options granted $ 4.04

Net Income per Share (Tables)

Net Income per Share (Tables)	9 Months Ended
	Sep. 30, 2017
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 2017 2016 2017 2016 (in thousands, except per share data) Basic: Net income available for common stockholders $ 5,042 $ 3,229 $ 12,893 $ 7,993 Weighted average shares outstanding 19,124 18,524 18,859 18,423 Basic earnings per share $ 0.26 $ 0.17 $ 0.68 $ 0.43 Diluted: Net income available for common stockholders $ 5,042 $ 3,229 $ 12,893 $ 7,993 Weighted-average shares outstanding 19,124 18,524 18,859 18,423 Common stock equivalents, if dilutive 1,023 724 1,111 680 Shares used in computing diluted earnings per common share 20,147 19,248 19,970 19,103 Diluted earnings per share $ 0.25 $ 0.17 $ 0.65 $ 0.42 Shares excluded in computing diluted earnings per share as those shares would be anti-dilutive — 426 1 143

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	9 Months Ended
	Sep. 30, 2017
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 2017 March 22, 2017 April 6, 2017 $ 0.055 $ 1,029 May 24, 2017 June 8, 2017 $ 0.055 $ 1,036 August 23, 2017 September 6, 2017 $ 0.055 $ 1,055 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 November 21, 2016 December 5, 2016 $ 0.045 $ 836

Supplemental Cash Flow Inform30

Supplemental Cash Flow Information (Tables)	9 Months Ended
	Sep. 30, 2017
Supplemental Cash Flow Elements [Abstract]
Supplemental Cash Flow Information	Nine months ended 2017 2016 (in thousands) Cash paid for income taxes, net $ 2,953 $ 2,809 Shares withheld to satisfy RSU tax withholdings $ 778 $ 183

Accumulated Other Comprehensi31

Accumulated Other Comprehensive Loss (Tables)	9 Months Ended
	Sep. 30, 2017
Equity [Abstract]
Summary of Accumulated Other Comprehensive Loss	Nine months ended 2017 2016 (in thousands) Beginning balance $ (4,583 ) $ (4,049 ) Other comprehensive income (loss) before reclassifications 2,303 836 Amounts reclassified from accumulated other comprehensive loss — — Ending Balance $ (2,280 ) $ (3,213 )

Income Tax Expense - Additional

Income Tax Expense - Additional Information (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Unrecognized tax benefits exclusive of interest and penalties, gross	$ 451	$ 390
Statute of limitations expiration period	2,025

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, 2017USD ($)
Income Tax Disclosure [Abstract]
Unrecognized tax benefits as of December 31, 2016	$ 390
Additions for tax positions of current year	66
Additions for tax positions of prior years	0
Reductions for settlements with taxing authorities	0
Reductions for lapses of the applicable statutes of limitations	(5)
Unrecognized tax benefits as of September 30, 2017	$ 451

Income Tax Expense - Summary of

Income Tax Expense - Summary of Tax Years Subject to Examination in Taxing Jurisdictions (Detail)	9 Months Ended
	Sep. 30, 2017
United States [Member]
Income Tax Examination [Line Items]
Income tax year under examination	2014 and forward
Foreign [Member]
Income Tax Examination [Line Items]
Income tax year under examination	2010 and forward

Inventories and Other Deferre35

Inventories and Other Deferred Costs - Summary of Inventories and Other Deferred Costs (Detail) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Inventory Disclosure [Abstract]
Raw materials	$ 3,657	$ 2,810
Work-in-process	3,491	2,489
Finished products	11,944	11,662
Other deferred costs	2,003	2,617
Total inventory and other deferred costs	$ 21,095	$ 19,578

Inventories and Other Deferre36

Inventories and Other Deferred Costs - Additional Information (Detail) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Inventory Disclosure [Abstract]
Inventory on consignment	$ 1.3	$ 1.1

Acquisition and Divestitures -

Acquisition and Divestitures - Restore Flow Allografts - Additional Information (Detail) - USD ($)	Nov. 10, 2016	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Business Acquisition [Line Items]
Net revenue		$ 24,822,000	$ 23,216,000	$ 74,714,000	$ 65,863,000
Weighted average useful life				9 years 1 month 6 days
Restore Flow Allografts [Member]
Business Acquisition [Line Items]
Initial purchase price	$ 12,000,000
Acquisition-related contingent consideration	900,000
Additional payment description				A payment of $2 million is due not later than 15 days following the expiration of the 18 month period following the closing date, subject to reductions as specified in the agreement for each calendar month that certain retained employees are not employed by us due to resignation without good reason, or termination for cause, both as defined in the agreement. The portion of this payment that will be paid to retained employees and that is contingent on their continuing employment, approximately $0.9 million, is being accounted for as post-combination compensation expense rather than purchase consideration. There are also two potential earn-outs under the agreement. The first earn-out is calculated at 50% of the amount by which net revenue in the first 12 months following the closing exceeds $6 million, with such payout not to exceed $2 million. The second earn-out is calculated at 50% of the amount by which net revenue in the second 12 months following the closing exceeds $9 million, with such payout not to exceed $2 million
Maximum goodwill deductible for tax purposes				15 years
Weighted average useful life				10 years 3 months 18 days
Restore Flow Allografts [Member] | Maximum [Member]
Business Acquisition [Line Items]
Acquisition-related contingent consideration	6,000,000
Contingency One [Member] | Restore Flow Allografts [Member]
Business Acquisition [Line Items]
Acquisition-related contingent consideration	2,000,000
Earn - Outs Payment One [Member] | Restore Flow Allografts [Member] | Maximum [Member]
Business Acquisition [Line Items]
Acquisition-related contingent consideration	2,000,000
Earn - Outs Payment One [Member] | Restore Flow Allografts [Member] | Minimum [Member]
Business Acquisition [Line Items]
Net revenue	6,000,000
Earn - Outs Payment Two [Member] | Restore Flow Allografts [Member] | Maximum [Member]
Business Acquisition [Line Items]
Acquisition-related contingent consideration	2,000,000
Earn - Outs Payment Two [Member] | Restore Flow Allografts [Member] | Minimum [Member]
Business Acquisition [Line Items]
Net revenue	$ 9,000,000

Acquisition and Divestitures 38

Acquisition and Divestitures - Schedule of Recognized Identified Assets Acquired and Liabilities Assumed (Detail) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016	Mar. 18, 2016	May 31, 2015
Business Acquisition [Line Items]
Goodwill	$ 23,850	$ 23,426
Restore Flow Allografts [Member]
Business Acquisition [Line Items]
Accounts receivable	394
Deferred cryopreservation costs	2,583
Manufacturing equipment and supplies	125
Accounts payable	(286)
Intangible assets	4,544
Goodwill	5,599
Purchase price	$ 12,959
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

Acquisitions and Divestitures -

Acquisitions and Divestitures - Acquired Intangible Assets and Related Estimated Useful Lives (Detail) - USD ($) $ in Thousands	Mar. 18, 2016	May 31, 2015	Sep. 30, 2017
Business Acquisition [Line Items]
Weighted average useful life			9 years 1 month 6 days
Restore Flow Allografts [Member]
Business Acquisition [Line Items]
Weighted average useful life			10 years 3 months 18 days
Allocated fair value			$ 4,544
Restore Flow Allografts [Member] | Non-Compete Agreement [Member]
Business Acquisition [Line Items]
Weighted average useful life			5 years
Allocated fair value			$ 180
Restore Flow Allografts [Member] | Trade Name [Member]
Business Acquisition [Line Items]
Weighted average useful life			9 years
Allocated fair value			$ 271
Restore Flow Allografts [Member] | Customer Relationships [Member]
Business Acquisition [Line Items]
Weighted average useful life			12 years 6 months
Allocated fair value			$ 683
Restore Flow Allografts [Member] | Procurement Contracts [Member]
Business Acquisition [Line Items]
Weighted average useful life			9 years
Allocated fair value			$ 617
Restore Flow Allografts [Member] | Technology [Member]
Business Acquisition [Line Items]
Weighted average useful life			10 years 6 months
Allocated fair value			$ 2,793
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] | 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
Tru-Incise Valvulotome [Member] | Product Technology [Member]
Business Acquisition [Line Items]
Weighted average useful life		7 years
Allocated fair value		$ 391

Acquisition and Divestitures 40

Acquisition and Divestitures - ProCol Biologic Graft - Additional Information (Detail) - USD ($) $ in Millions	Mar. 18, 2016	Sep. 30, 2017	Mar. 31, 2017	Sep. 30, 2016
Business Acquisition [Line Items]
Weighted average useful life		9 years 1 month 6 days
ProCol Biologic Graft [Member]
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%	25.00%
Maximum goodwill deductible for tax purposes	15 years
Weighted average useful life		8 years 7 months 6 days

Acquisition and Divestitures 41

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, 2017
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

Goodwill and Other Intangible42

Goodwill and Other Intangibles - Schedule of Goodwill (Detail) $ in Thousands	9 Months Ended
	Sep. 30, 2017USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Balance at December 31, 2016	$ 23,426
Purchase accounting adjustments	257
Effects of currency exchange	167
Balance at September 30, 2017	$ 23,850

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets - Components of Identifiable Intangible Assets (Detail) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 19,166	$ 18,886
Accumulated Amortization	10,497	8,989
Net Carrying Value of Intangible Assets	8,669	9,897
Product Technology [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	10,271	10,173
Accumulated Amortization	4,694	4,017
Net Carrying Value of Intangible Assets	5,577	6,156
Trademarks and Licenses [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	1,949	1,939
Accumulated Amortization	1,445	1,359
Net Carrying Value of Intangible Assets	504	580
Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	5,372	5,216
Accumulated Amortization	3,142	2,588
Net Carrying Value of Intangible Assets	2,230	2,628
Other Intangible Assets [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	1,574	1,558
Accumulated Amortization	1,216	1,025
Net Carrying Value of Intangible Assets	$ 358	$ 533

Goodwill and Other Intangible44

Goodwill and Other Intangibles - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2017
Finite-Lived Intangible Assets [Line Items]
Weighted-average amortization period for intangibles	9 years 1 month 6 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 Intangible45

Goodwill and Other Intangibles - Amortization Expense Included in General and Administrative Expense (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense	$ 443	$ 385	$ 1,353	$ 1,170

Accrued Expenses and Other Lo46

Accrued Expenses and Other Long-term Liabilities - Accrued Expenses (Detail) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Payables and Accruals [Abstract]
Compensation and related taxes	$ 5,715	$ 6,124
Income and other taxes	544	312
Professional fees	43	122
Other	2,501	2,246
Total	$ 8,803	$ 8,804

Accrued Expenses and Other Lo47

Accrued Expenses and Other Long-term Liabilities - Schedule of Other Long-term Liabilities (Detail) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Other Liabilities, Noncurrent [Abstract]
Aquisition-related liabilities	$ 159	$ 1,253
Deferred rent	534	394
Income taxes	208	200
Other	197	154
Total	$ 1,098	$ 2,001

Segment and Enterprise-wide D48

Segment and Enterprise-wide Disclosures - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2017Segment
Segment Reporting [Abstract]
Number of operating segments	1

Segment and Enterprise-wide D49

Segment and Enterprise-wide Disclosures - Net Sales to Unaffiliated Customers by Geography (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Segment Reporting Information [Line Items]
Net sales	$ 24,822	$ 23,216	$ 74,714	$ 65,863
United States [Member]
Segment Reporting Information [Line Items]
Net sales	14,506	13,718	43,485	37,180
Germany [Member]
Segment Reporting Information [Line Items]
Net sales	2,885	2,651	8,624	7,920
Other Countries [Member]
Segment Reporting Information [Line Items]
Net sales	$ 7,431	$ 6,847	$ 22,605	$ 20,763

Share-based Compensation - Shar

Share-based Compensation - Share-Based Compensation Expense (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Schedule of Trading Securities and Other Trading Assets [Line Items]
Total share-based compensation	$ 887	$ 533	$ 1,845	$ 1,195
Stock Option Awards [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Total share-based compensation	723	354	1,347	809
Restricted Stock Units [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Total share-based compensation	$ 164	$ 179	$ 498	$ 386

Share-based Compensation - Sche

Share-based Compensation - Schedule of Stock-based Compensation (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation	$ 887	$ 533	$ 1,845	$ 1,195
Cost of Sales [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation	46	46	141	117
Sales and Marketing [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation	78	129	309	271
General and Administrative [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation	718	314	1,261	708
Research and Development [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation	$ 45	$ 44	$ 134	$ 99

Share-based Compensation - Addi

Share-based Compensation - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2017	Sep. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock option modification charge	$ 0.5	$ 0.5
Issue of common stock		702,000	285,000
Employees and Non-Employee Directors [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options granted			511,000
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
Restricted Stock Units [Member] | Employees [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units issued			126,000

Share-based Compensation - Sc53

Share-based Compensation - Schedule of Weighted Average Fair Value of Employee Stock Option Grants (Detail)	9 Months Ended
	Sep. 30, 2017$ / shares
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract]
Dividend yield	1.30%
Volatility	34.50%
Risk-free interest rate	1.20%
Weighted average expected option term (in years)	5 years 6 months
Weighted average fair value per share of options granted	$ 4.04

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, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Basic:
Net income available for common stockholders	$ 5,042	$ 3,229	$ 12,893	$ 7,993
Weighted average shares outstanding	19,124	18,524	18,859	18,423
Basic earnings per share	$ 0.26	$ 0.17	$ 0.68	$ 0.43
Diluted:
Net income available for common stockholders	$ 5,042	$ 3,229	$ 12,893	$ 7,993
Weighted-average shares outstanding	19,124	18,524	18,859	18,423
Common stock equivalents, if dilutive	1,023	724	1,111	680
Shares used in computing diluted earnings per common share	20,147	19,248	19,970	19,103
Diluted earnings per share	$ 0.25	$ 0.17	$ 0.65	$ 0.42
Shares excluded in computing diluted earnings per share as those shares would be anti-dilutive		426	1	143

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Detail) - USD ($)	Oct. 24, 2017	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Jul. 25, 2017	Jul. 25, 2016
Business Acquisition, Equity Interests Issued or Issuable [Line Items]
Cash dividend on common stock per share		$ 0.055	$ 0.045	$ 0.165	$ 0.135
Subsequent Event [Member]
Business Acquisition, Equity Interests Issued or Issuable [Line Items]
Cash dividend on common stock per share	$ 0.055
Dividend payment date	Dec. 7, 2017
Dividend payments	$ 1,100,000
Dividend record date	Nov. 22, 2017
2016 Stock Repurchase Program [Member]
Business Acquisition, Equity Interests Issued or Issuable [Line Items]
Stock repurchase program expiration date				Jul. 25, 2017
Stock repurchase program, Description				On July 25, 2016, our Board of Directors approved a stock repurchase program under which the Company is authorized to repurchase up to $5 million of its common stock through transactions on the open market, in privately negotiated purchases or otherwise. This program expired on July 25, 2017. We did not made any repurchases under this program prior to its expiration.
Share repurchases				0
2016 Stock Repurchase Program [Member] | Maximum [Member] | Common Stock [Member]
Business Acquisition, Equity Interests Issued or Issuable [Line Items]
Repurchase of common stock							$ 5,000,000
2017 Stock Repurchase Program [Member]
Business Acquisition, Equity Interests Issued or Issuable [Line Items]
Stock repurchase program expiration date				Jul. 25, 2018
Stock repurchase program, Description				This program may be suspended or discontinued at any time, and expires on the earlier of July 25, 2018 or when the $7.5 million repurchase limit is reached, unless extended by our Board of Directors.
Share repurchases				0
2017 Stock Repurchase Program [Member] | Maximum [Member] | Common Stock [Member]
Business Acquisition, Equity Interests Issued or Issuable [Line Items]
Repurchase of common stock						$ 7,500,000

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, 2017

Sep. 30, 2016

Sep. 30, 2017

Sep. 30, 2016

Sep. 06, 2017

Jun. 08, 2017

Apr. 06, 2017

Dec. 05, 2016

Sep. 02, 2016

Jun. 08, 2016

Apr. 04, 2016

Dividends Payable [Line Items]

Per Share Amount

$ 0.055

$ 0.045

$ 0.165

$ 0.135

Installment 2 FY 2017 [Member]

Dividends Payable [Line Items]

Record Date

May 24, 2017

Payment Date

Jun. 8, 2017

Per Share Amount

$ 0.055

Dividend Payment

$ 1,036

Installment 1 FY 2017 [Member]

Dividends Payable [Line Items]

Record Date

Mar. 22, 2017

Payment Date

Apr. 6, 2017

Per Share Amount

0.055

Dividend Payment

$ 1,029

Installment 3 FY 2017 [Member]

Dividends Payable [Line Items]

Record Date

Aug. 23, 2017

Payment Date

Sep. 6, 2017

Per Share Amount

0.055

Dividend Payment

$ 1,055

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 4 FY 2016 [Member]

Dividends Payable [Line Items]

Record Date

Nov. 21, 2016

Payment Date

Dec. 5, 2016

Per Share Amount

$ 0.045

Dividend Payment

$ 836

Supplemental Cash Flow Inform57

Supplemental Cash Flow Information - Supplemental Cash Flow Information (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Supplemental Cash Flow Elements [Abstract]
Cash paid for income taxes, net	$ 2,953	$ 2,809
Shares withheld to satisfy RSU tax withholdings	$ 778	$ 183

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2017USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair-value adjustments to contingent liabilities	$ 600,000
Level 1 [Member] | Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents in money market fund	19,000,000
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 Comprehensi59

Accumulated Other Comprehensive Loss - Summary of Accumulated Other Comprehensive Loss (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	$ 87,500
Ending Balance	106,113
Accumulated Other Comprehensive Income (Loss) [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(4,583)	$ (4,049)
Other comprehensive income (loss) before reclassifications	2,303	836
Amounts reclassified from accumulated other comprehensive loss	0	0
Ending Balance	$ (2,280)	$ (3,213)