LeMaitre Vascular (LMAT) 10-Q 4 May 18 2018 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2018	May 01, 2018
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q1
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		19,312,375

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Current assets:
Cash and cash equivalents	$ 22,781	$ 19,096
Short-term marketable securities	22,613	22,564
Accounts receivable, net of allowances of $483 at March 31, 2018, and $349 at December 31, 2017	14,510	15,000
Inventory and other deferred costs	21,833	21,046
Prepaid expenses and other current assets	2,271	2,605
Total current assets	84,008	80,311
Property and equipment, net	12,170	12,378
Goodwill	23,810	23,844
Other intangibles, net	7,806	8,234
Deferred tax assets	1,419	1,378
Other assets	197	178
Total assets	129,410	126,323
Current liabilities:
Accounts payable	1,440	1,543
Accrued expenses	9,118	9,770
Acquisition-related obligations	2,084	1,876
Total current liabilities	12,642	13,189
Deferred tax liabilities	2,177	2,176
Other long-term liabilities	1,121	1,188
Total liabilities	15,940	16,553
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 20,779,867 shares at March 31, 2018, and 20,745,041 shares at December 31, 2017	208	207
Additional paid-in capital	94,040	93,127
Retained earnings	30,836	28,333
Accumulated other comprehensive loss	(2,006)	(2,289)
Treasury stock, at cost; 1,480,101 shares at March 31, 2018 and 1,480,101 shares at December 31, 2017	(9,608)	(9,608)
Total stockholders' equity	113,470	109,770
Total liabilities and stockholders' equity	$ 129,410	$ 126,323

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Statement of Financial Position [Abstract]
Accounts receivable, allowances	$ 483	$ 349
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	20,779,867	20,745,041
Treasury stock, at cost	1,480,101	1,480,101

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Income Statement [Abstract]
Net sales	$ 25,994	$ 24,139
Cost of sales	7,520	6,786
Gross profit	18,474	17,353
Sales and marketing	7,090	6,954
General and administrative	4,697	4,548
Research and development	1,825	1,658
Total operating expenses	13,612	13,160
Income from operations	4,862	4,193
Other income (expense):
Interest income	95	20
Foreign currency gain (loss)	(41)	26
Income before income taxes	4,916	4,239
Provision for income taxes	1,063	1,020
Net income	$ 3,853	$ 3,219
Earnings per share of common stock:
Basic	$ 0.20	$ 0.17
Diluted	$ 0.19	$ 0.16
Weighted-average shares outstanding:
Basic	19,283	18,631
Diluted	20,181	19,707
Cash dividends declared per common share	$ 0.070	$ 0.055

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
Net income	$ 3,853	$ 3,219
Other comprehensive income (loss):
Foreign currency translation adjustment, net	328	620
Unrealized loss on short-term marketable securities	(45)
Total other comprehensive income	283	620
Comprehensive income	$ 4,136	$ 3,839

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Operating activities
Net income	$ 3,853	$ 3,219
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	1,036	979
Stock-based compensation	621	487
Fair value adjustment to contingent consideration obligations	30	23
Provision for doubtful accounts	73	48
Provision for inventory write-downs	101	137
Foreign currency transaction loss	(6)	(51)
Changes in operating assets and liabilities:
Accounts receivable	571	(858)
Inventory and other deferred costs	(808)	(1,102)
Prepaid expenses and other assets	360	(16)
Accounts payable and other liabilities	(2,080)	(390)
Net cash provided by operating activities	3,751	2,476
Investing activities
Purchases of property and equipment and other assets	(427)	(1,691)
Purchases of short-term marketable securities	(94)
Net cash used in investing activities	(521)	(1,691)
Financing activities
Payments of deferred acquisition consideration	(35)	(260)
Proceeds from issuance of common stock	292	819
Net cash provided by financing activities	257	559
Effect of exchange rate changes on cash and cash equivalents	198	178
Net increase in cash and cash equivalents	3,685	1,522
Cash and cash equivalents at beginning of period	19,096	24,288
Cash and cash equivalents at end of period	$ 22,781	$ 25,810

Organization and Basis for Pres

Organization and Basis for Presentation	3 Months Ended
	Mar. 31, 2018
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 into patients. We operate in a single segment in which our principal product lines include the following: anastomotic clips, angioscopes, balloon catheters, biologic vascular grafts, biologic vascular patches, carotid shunts, laparoscopic cholecystectomy devices (subsequently divested in Q2 2018), powered phlebectomy devices, radiopaque marking tape, remote endarterectomy devices, synthetic vascular grafts, and valvulotomes. Our offices are located in Burlington, Massachusetts; Fox River Grove, Illinois; Vaughan, 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 Revenue Recognition Our revenue is derived primarily from the sale of disposable or implantable devices used during vascular surgery. We sell primarily directly to hospitals, and to a lesser extent to distributors. We also occasionally enter into consigned inventory arrangements with either hospitals or distributors on a limited basis. Following our acquisition of the RestoreFlow allograft business, we also derive revenues from human tissue cryopreservation services. These service revenues are recognized when services have been provided and the tissue has been shipped to the customer, provided all other revenue recognition criteria discussed below have been met. On January 1, 2018 we adopted the provisions of ASU 2014-09, Revenue from Contracts with Customers (Topic 606) Step 1: Identify the contract with a customer Step 2: Identify the performance obligations in the contract Step 3: Determine the transaction price Step 4: Allocate the transaction price Step 5: Recognize revenue when or as the entity satisfies a performance obligation Revenue is recognized when or as a company satisfies a performance obligation by transferring a promised good or service to a customer (which is when the customer obtains control of that good or service). We generally reference customer purchase orders to determine the existence of a contract. Orders that are not accompanied by a purchase order are confirmed with the customer either in writing or verbally. The purchase orders or similar correspondence, once accepted, identify the performance obligations as well as the transaction price, and otherwise outline the rights and obligations of each party. We allocate the transaction price of each contract among the performance obligations in accordance with the pricing of each item specified on the purchase order, which is in turn based on standalone selling prices per our published price lists. In cases where we discount products or provide certain items free of charge, we allocate the discount proportionately to all performance obligations, unless it can be demonstrated that the discount should be allocated entirely to one or more, but not all, of the performance obligations. We recognize revenue, net of allowances for returns and discounts, fees paid to group purchasing organizations, and any sales and value added taxes required to be invoiced, which we have elected to exclude from the measurement of the transaction price as allowed by the standard, at the time of shipment (taking into consideration contractual shipping terms), or in the case of consigned inventory, when it is consumed. Shipment is the point at which control of the product and title passes to our customers, and at which LeMaitre has a present right to receive payment for the goods. Our shipping and handling activities generally occur prior to the customer taking control of the goods, but in instances where part of these services occurs after the customer gains control, we have made a policy election as allowed under the standard to account for them as activities to fulfill the promise to transfer the goods as opposed to a performance obligation. Below is a disaggregation of our revenue by major geographic area, which is among the primary categorizations used by management in evaluating financial performance, for the periods indicated (in thousands): Three months ended March 31, 2018 2017 Americas $ 15,860 $ 14,980 Europe, Middle East and Africa 8,755 7,614 Asia/Pacific Rim 1,379 1,545 Total $ 25,994 $ 24,139 We do not carry any contract assets or contract liabilities, as there are generally no unbilled amounts due from customers under contracts for which we have partially satisfied performance obligations, or amounts received from customers for which we have not satisfied performance obligations. We satisfy our performance obligations under revenue contracts within a very short time period from receipt of the orders, and payments from customers are typically received within 30 to 60 days of fulfillment of the orders, except in certain geographies such as Spain and Italy where the payment cycle is customarily longer. Accordingly, there is no significant financing component to our revenue contracts. Additionally, we have elected as a policy that incremental costs (such as commissions) incurred to obtain contracts are expensed as incurred, due to the short-term nature of the contracts. Customers returning products may be entitled to full or partial credit based on the condition and timing of the return. To be accepted, a returned product must be unopened (if sterile), unadulterated, and undamaged, must have at least 18 months remaining prior to its expiration date, or twelve months for our hospital customers in Europe, and generally be returned within 30 days of shipment. These return policies apply to sales to both hospitals and distributors. The amount of products returned to us, either for exchange or credit, has not been material. Nevertheless, we provide for an allowance for future sales returns based on historical return experience, which requires judgment. Our cost of replacing defective products has not been material and is accounted for at the time of replacement. In February 2018, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (ASU) 2018-02, Income Statement – Reporting Other Comprehensive Income (Topic 220 In January 2017, the FASB issued ASU 2017-04, In February 2016, the FASB issued its new lease accounting guidance in ASU No. 2016-02, Leases (Topic 842) right-of-use off-balance right-of-use

Income Tax Expense

Income Tax Expense	3 Months Ended
	Mar. 31, 2018
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. The Tax Cut and Jobs Act of 2017 (the Tax Act) changed many aspects of U.S. corporate income taxation and included a reduction of the corporate income tax rate from 35% to 21%, implementation of a territorial tax system, and imposition of a tax on deemed repatriated earnings of foreign subsidiaries (the Transition Tax). We estimated the impact of the Tax Act in our financial statements as of December 31, 2017. We recorded $0.6 million in tax expense related to the Transition Tax and recognized $1.0 million in tax benefit related to the remeasurement of deferred taxes to the 21% tax rate. Later in 2018, we may identify adjustments to our estimated Transition Tax and/or deferred tax remeasurement while preparing the 2017 U.S. tax return, finalizing foreign earnings and profits calculations, or taking into account additional guidance issued by the IRS. Any such revisions will be treated in accordance with the measurement period guidance outlined in Staff Accounting Bulletin No. 118. 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 2018 income tax expense varies from the statutory rate mainly due to the generation of federal and state tax credits, permanent items, and different statutory rates from our foreign subsidiaries. Additionally, in the first quarter of 2018, we recognized certain discrete items primarily related to the exercise of stock options. Our 2017 income tax expense varied from the statutory rate mainly due to federal and state tax credits, permanent items, different statutory rates from our foreign entities, and discrete 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 March 31, 2018, the gross amount of unrecognized tax benefits exclusive of interest and penalties was $556,000. 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: Three months ended March 31, (in thousands) Unrecognized tax benefits as of December 31, 2017 525 Additions for tax positions of current year 15 Additions for tax positions of prior years 16 Reductions for settlements with taxing authorities — Reductions for lapses of the applicable statutes of limitations — Unrecognized tax benefits as of March 31, 2018 556 As of March 31, 2018, a summary of the tax years that remain subject to examination in our taxing jurisdictions is as follows: United States 2014 and forward Foreign 2011 and forward

Inventories and Other Deferred

Inventories and Other Deferred Costs	3 Months Ended
	Mar. 31, 2018
Text Block [Abstract]
Inventories and Other Deferred Costs	3. Inventories and Other Deferred Costs Inventories and other deferred costs consist of the following: March 31, 2018 December 31, 2017 (in thousands) Raw materials $ 3,529 $ 3,200 Work-in-process 4,500 3,745 Finished products 12,468 12,278 Other deferred costs 1,336 1,823 Total inventory and other deferred costs $ 21,833 $ 21,046 We had inventory on consignment of $1.3 million and $1.4 million at March 31, 2018 and December 31, 2017, respectively. In connection with our 2016 acquisition of the RestoreFlow allograft business, other deferred costs include costs incurred for the preservation of human vascular tissues available for shipment, tissues currently in active processing, and tissues held in quarantine pending release to implantable status. By federal law, human tissues cannot be bought or sold. Therefore, the vascular tissues we preserve are not held as inventory, and the costs we incur to procure and process them are instead accumulated and deferred. These costs include fixed and variable overhead costs associated with the cryopreservation process, including primarily direct labor costs, tissue recovery fees, inbound freight charges, indirect materials and facilities costs. General and administrative expenses and selling expenses associated with the provision of these services are expensed as incurred.

Acquisitions and Divestitures

Acquisitions and Divestitures	3 Months Ended
	Mar. 31, 2018
Business Combinations [Abstract]
Acquisitions and Divestitures	4. Acquisitions and Divestitures Acquisitions are accounted for using the acquisition method, and the acquired companies’ results have been included in the accompanying consolidated financial statements from their respective dates of acquisition. In each case for the acquisitions disclosed below, pro forma information assuming the acquisition had occurred at the beginning of the earliest period presented is not included, as the impact is immaterial. Our acquisitions 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. Our assumptions associated with these Level 3 valuations are discussed below and in Note 13 to these financial statements. 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 three additional payments of up to $2 million each ($6 million in total), depending upon the satisfaction of certain contingencies. One 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 continued employment, estimated at $0.9 million, is being accounted for as post-combination compensation expense rather than purchase consideration. The remaining $1.1 million that is payable to non-employee re-measured There are also two potential earn-out 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 final purchase price allocation: 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 allocation of purchase consideration to 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 remainder 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 is being 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 purchase consideration to 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 Fair Value (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 purchase consideration to the acquired intangible assets and related estimated useful lives: Weighted Allocated Average Fair Value Useful Life (in thousands) Non-compete $ 120 5.0 years Tradename license 17 3.0 years Technology 391 7.0 years Customer relationships 17 3.0 years Total intangible assets $ 545 Subsequent Event – Reddick Divestiture On April 5, 2018, we entered into an asset purchase agreement with Specialty Surgical Instrumentation, Inc. to sell the inventory, intellectual property and other assets associated exclusively with our Reddick cholangiogram catheter and Reddick Saye-Screw product lines for $7.4 million. In connection with this divestiture we contemporaneously entered into a transition services agreement under which we will continue to manufacture and supply these products to the buyer for a period of up to two years unless extended by both parties, as well as a balloon supply agreement under which we will supply latex balloons, a component of the cholangiogram catheters, to the buyer for a period of up six years unless extended by both parties. During the three months ending June 30, 2018 we expect to record a gain in connection with these agreements of $5.5 million to $6.0 million.

Goodwill and Other Intangibles

Goodwill and Other Intangibles	3 Months Ended
	Mar. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangibles	5. Goodwill and Other Intangibles Goodwill consists of the following as of March 31, 2018: (in thousands) Balance at December 31, 2017 $ 23,844 Effects of currency exchange (34 ) Balance at March 31, 2018 $ 23,810 Other intangible assets consist of the following: March 31, 2018 December 31, 2017 Gross Net Gross Net Carrying Accumulated Carrying Carrying Accumulated Carrying Value Amortization Value Value Amortization Value (in thousands) Product technology $ 10,245 $ 5,106 $ 5,139 $ 10,267 $ 4,908 $ 5,359 Trademarks and licenses 1,947 1,491 456 1,948 1,468 480 Customer relationships 5,391 3,456 1,935 5,383 3,299 2,084 Other intangible assets 1,574 1,298 276 1,575 1,264 311 Total identifiable intangible assets $ 19,157 $ 11,351 $ 7,806 $ 19,173 $ 10,939 $ 8,234 These intangible assets are being amortized over their useful lives ranging from 3 to 13 years. The weighted-average amortization period for these intangibles as of March 31, 2018 is 8.0 years. Amortization expense was $0.4 million and $0.5 million for the three months ended March 31, 2018 and 2017, respectively, and is included in general and administrative expense. We estimate that amortization expense for the remainder of 2018 and for each of the five succeeding fiscal years will be as follows: Year ended December 31, 2018 2019 2020 2021 2022 2023 (in thousands) Amortization expense $ 1,202 $ 1,389 $ 1,129 $ 901 $ 713 $ 680

Accrued Expenses and Other Long

Accrued Expenses and Other Long-term Liabilities	3 Months Ended
	Mar. 31, 2018
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: March 31, December 31, (in thousands) Compensation and related taxes $ 3,951 $ 6,494 Aquisition-related liabilities Income and other taxes 414 703 Professional fees 323 35 Dividend payable 1,351 — Other 3,079 2,538 Total $ 9,118 $ 9,770 Other long-term liabilities consist of the following: March 31, December 31, (in thousands) Aquisition-related liabilities $ 36 $ 127 Deferred rent 554 561 Income taxes 340 321 Other 191 179 Total $ 1,121 $ 1,188

Segment and Enterprise-Wide Dis

Segment and Enterprise-Wide Disclosures	3 Months Ended
	Mar. 31, 2018
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 March 31, 2018 2017 (in thousands) United States $ 14,820 $ 14,047 Germany 3,106 2,865 Other countries 8,068 7,227 Net Sales $ 25,994 $ 24,139

Share-based Compensation

Share-based Compensation	3 Months Ended
	Mar. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-based Compensation	9. 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 March 31, 2018 2017 (in thousands) Stock option awards $ 389 $ 314 Restricted stock units 232 173 Total share-based compensation $ 621 $ 487 Stock-based compensation is included in our statements of operations as follows: Three months ended March 31, 2018 2017 (in thousands) Cost of sales $ 64 $ 53 Sales and marketing 138 116 General and administrative 351 274 Research and development 68 44 Total stock-based compensation $ 621 $ 487 We did not grant any options during the three months ended March 31, 2018. Option grants during the three months ended March 31, 2017 were not material. We did not issue awards of restricted stock during the three months ended March 31, 2018 or 2017. We issued approximately 35,000 and 115,000 shares of common stock following the exercise or vesting of underlying stock options or restricted stock units in the three months ended March 31, 2018 and 2017, respectively.

Net Income per Share

Net Income per Share	3 Months Ended
	Mar. 31, 2018
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 March 31, 2018 2017 (in thousands, except per share data) Basic: Net income available for common stockholders $ 3,853 $ 3,219 Weighted average shares outstanding 19,283 18,631 Basic earnings per share $ 0.20 $ 0.17 Diluted: Net income available for common stockholders $ 3,853 $ 3,219 Weighted-average shares outstanding 19,283 18,631 Common stock equivalents, if dilutive 898 1,076 Shares used in computing diluted earnings per common share 20,181 19,707 Diluted earnings per share $ 0.19 $ 0.16 Shares excluded in computing diluted earnings per share as those shares would be anti-dilutive 218 1

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Mar. 31, 2018
Equity [Abstract]
Stockholders' Equity	11. Stockholders’ Equity Share Repurchase Program 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 authorized aggregate $7.5 million repurchase limit is reached, unless extended by our Board of Directors. 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 2018 March 22, 2018 April 5, 2018 $ 0.070 $ 1,351 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 November 22, 2017 December 7, 2017 $ 0.055 $ 1,060 On April 23, 2018 our Board of Directors approved a quarterly cash dividend on our common stock of $0.07 per share payable on June 7, 2018 to stockholders of record at the close of business on May 22, 2018, which will total approximately $1.4 million.

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	3 Months Ended
	Mar. 31, 2018
Supplemental Cash Flow Elements [Abstract]
Supplemental Cash Flow Information	12. Supplemental Cash Flow Information Three months ended March 31, 2018 2017 (in thousands) Cash paid for income taxes, net $ 1,562 $ 275

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2018
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. Level 1 assets being measured at fair value on a recurring basis as of March 31, 2018 included our short-term investment mutual fund account. We had no Level 2 assets being measured at fair value on a recurring basis as of March 31, 2018. As discussed in Note 4, several of our acquisition-related assets and liabilities have been measured using Level 3 techniques. During 2016, we recorded contingent liabilities associated with our acquisitions of the RestoreFlow allograft and ProCol biologic graft businesses. In the case of the Restore Flow allograft acquisition, the agreement included the potential for us to pay up to $5.1 million of additional consideration, with $1.1 million contingent on the continued employment by LeMaitre of certain retained employees, and another $4.0 million contingent on the achievement of specified levels of revenues in the first 12 and 24 months following the acquisition date. This additional consideration was initially valued in total at $1.0 million and is being re-measured re-measured Three months ended March 31, 2018 2017 (in thousands) Beginning balance $ 1,300 $ 1,320 Additions — — Payments (35 ) (23 ) Change in fair value included in earnings 30 23 Ending balance $ 1,295 $ 1,320

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	3 Months Ended
	Mar. 31, 2018
Equity [Abstract]
Accumulated Other Comprehensive Loss	14. Accumulated Other Comprehensive Loss Three months ended March 31, 2018 2017 (in thousands) Beginning balance $ (2,289 ) $ (4,583 ) Other comprehensive income (loss) before reclassifications 283 620 Amounts reclassified from accumulated other comprehensive loss — — Ending Balance $ (2,006 ) $ (3,963 ) Changes to our accumulated other comprehensive loss consisted primarily of foreign currency translation for the three months ended March 31, 2018 and 2017.

Organization and Basis for Pr20

Organization and Basis for Presentation (Policies)	3 Months Ended
	Mar. 31, 2018
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 January 2017, the FASB issued ASU 2017-04, In February 2016, the FASB issued its new lease accounting guidance in ASU No. 2016-02, Leases (Topic 842) right-of-use off-balance right-of-use
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.

Organization and Basis for Pr21

Organization and Basis for Presentation (Tables)	3 Months Ended
	Mar. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Summary of Disaggregation of Revenue by Major Geographic Area	Below is a disaggregation of our revenue by major geographic area, which is among the primary categorizations used by management in evaluating financial performance, for the periods indicated (in thousands): Three months ended March 31, 2018 2017 Americas $ 15,860 $ 14,980 Europe, Middle East and Africa 8,755 7,614 Asia/Pacific Rim 1,379 1,545 Total $ 25,994 $ 24,139

Income Tax Expense (Tables)

Income Tax Expense (Tables)	3 Months Ended
	Mar. 31, 2018
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: Three months ended March 31, (in thousands) Unrecognized tax benefits as of December 31, 2017 525 Additions for tax positions of current year 15 Additions for tax positions of prior years 16 Reductions for settlements with taxing authorities — Reductions for lapses of the applicable statutes of limitations — Unrecognized tax benefits as of March 31, 2018 556
Summary of Tax Years Subject to Examination in Taxing Jurisdictions	As of March 31, 2018, a summary of the tax years that remain subject to examination in our taxing jurisdictions is as follows: United States 2014 and forward Foreign 2011 and forward

Inventories and Other Deferre23

Inventories and Other Deferred Costs (Tables)	3 Months Ended
	Mar. 31, 2018
Text Block [Abstract]
Summary of Inventories and Other Deferred Costs	Inventories and other deferred costs consist of the following: March 31, 2018 December 31, 2017 (in thousands) Raw materials $ 3,529 $ 3,200 Work-in-process 4,500 3,745 Finished products 12,468 12,278 Other deferred costs 1,336 1,823 Total inventory and other deferred costs $ 21,833 $ 21,046

Acquisitions and Divestitures (

Acquisitions and Divestitures (Tables)	3 Months Ended
	Mar. 31, 2018
Restore Flow Allografts [Member]
Summary of Purchase Price Allocation	The following table summarizes the final purchase price allocation: 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 allocation of purchase consideration to 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 purchase consideration to 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 Fair Value (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 purchase consideration to the acquired intangible assets and related estimated useful lives: Weighted Allocated Average Fair Value Useful Life (in thousands) Non-compete $ 120 5.0 years Tradename license 17 3.0 years Technology 391 7.0 years Customer relationships 17 3.0 years Total intangible assets $ 545

Goodwill and Other Intangibles

Goodwill and Other Intangibles (Tables)	3 Months Ended
	Mar. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	Goodwill consists of the following as of March 31, 2018: (in thousands) Balance at December 31, 2017 $ 23,844 Effects of currency exchange (34 ) Balance at March 31, 2018 $ 23,810
Components of Identifiable Intangible Assets	Other intangible assets consist of the following: March 31, 2018 December 31, 2017 Gross Net Gross Net Carrying Accumulated Carrying Carrying Accumulated Carrying Value Amortization Value Value Amortization Value (in thousands) Product technology $ 10,245 $ 5,106 $ 5,139 $ 10,267 $ 4,908 $ 5,359 Trademarks and licenses 1,947 1,491 456 1,948 1,468 480 Customer relationships 5,391 3,456 1,935 5,383 3,299 2,084 Other intangible assets 1,574 1,298 276 1,575 1,264 311 Total identifiable intangible assets $ 19,157 $ 11,351 $ 7,806 $ 19,173 $ 10,939 $ 8,234
Amortization Expense Included in General and Administrative Expense	We estimate that amortization expense for the remainder of 2018 and for each of the five succeeding fiscal years will be as follows: Year ended December 31, 2018 2019 2020 2021 2022 2023 (in thousands) Amortization expense $ 1,202 $ 1,389 $ 1,129 $ 901 $ 713 $ 680

Accrued Expenses and Other Lo26

Accrued Expenses and Other Long-term Liabilities (Tables)	3 Months Ended
	Mar. 31, 2018
Payables and Accruals [Abstract]
Accrued Expenses	Accrued expenses consist of the following: March 31, December 31, (in thousands) Compensation and related taxes $ 3,951 $ 6,494 Aquisition-related liabilities Income and other taxes 414 703 Professional fees 323 35 Dividend payable 1,351 — Other 3,079 2,538 Total $ 9,118 $ 9,770
Schedule of Other Long-term Liabilities	Other long-term liabilities consist of the following: March 31, December 31, (in thousands) Aquisition-related liabilities $ 36 $ 127 Deferred rent 554 561 Income taxes 340 321 Other 191 179 Total $ 1,121 $ 1,188

Segment and Enterprise-Wide D27

Segment and Enterprise-Wide Disclosures (Tables)	3 Months Ended
	Mar. 31, 2018
Segment Reporting [Abstract]
Net Sales to Unaffiliated Customers by Geography	Net sales to unaffiliated customers by country were as follows: Three months ended March 31, 2018 2017 (in thousands) United States $ 14,820 $ 14,047 Germany 3,106 2,865 Other countries 8,068 7,227 Net Sales $ 25,994 $ 24,139

Share-based Compensation (Table

Share-based Compensation (Tables)	3 Months Ended
	Mar. 31, 2018
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 March 31, 2018 2017 (in thousands) Stock option awards $ 389 $ 314 Restricted stock units 232 173 Total share-based compensation $ 621 $ 487
Schedule of Stock-based Compensation	Stock-based compensation is included in our statements of operations as follows: Three months ended March 31, 2018 2017 (in thousands) Cost of sales $ 64 $ 53 Sales and marketing 138 116 General and administrative 351 274 Research and development 68 44 Total stock-based compensation $ 621 $ 487

Net Income per Share (Tables)

Net Income per Share (Tables)	3 Months Ended
	Mar. 31, 2018
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 March 31, 2018 2017 (in thousands, except per share data) Basic: Net income available for common stockholders $ 3,853 $ 3,219 Weighted average shares outstanding 19,283 18,631 Basic earnings per share $ 0.20 $ 0.17 Diluted: Net income available for common stockholders $ 3,853 $ 3,219 Weighted-average shares outstanding 19,283 18,631 Common stock equivalents, if dilutive 898 1,076 Shares used in computing diluted earnings per common share 20,181 19,707 Diluted earnings per share $ 0.19 $ 0.16 Shares excluded in computing diluted earnings per share as those shares would be anti-dilutive 218 1

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	3 Months Ended
	Mar. 31, 2018
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 2018 March 22, 2018 April 5, 2018 $ 0.070 $ 1,351 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 November 22, 2017 December 7, 2017 $ 0.055 $ 1,060

Supplemental Cash Flow Inform31

Supplemental Cash Flow Information (Tables)	3 Months Ended
	Mar. 31, 2018
Supplemental Cash Flow Elements [Abstract]
Supplemental Cash Flow Information	Three months ended March 31, 2018 2017 (in thousands) Cash paid for income taxes, net $ 1,562 $ 275

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2018
Fair Value Disclosures [Abstract]
Rollforward of the Fair Value as Determined by Level 3	The following table provides a rollforward of the fair value of these liabilities, as determined by Level 3 unobservable inputs including management’s forecast of future revenues for these acquired businesses, as well as, in the case of the Restore Flow allograft acquisition, management’s estimate of the likelihood of continued employment of certain retained employees. Three months ended March 31, 2018 2017 (in thousands) Beginning balance $ 1,300 $ 1,320 Additions — — Payments (35 ) (23 ) Change in fair value included in earnings 30 23 Ending balance $ 1,295 $ 1,320

Accumulated Other Comprehensi33

Accumulated Other Comprehensive Loss (Tables)	3 Months Ended
	Mar. 31, 2018
Equity [Abstract]
Summary of Accumulated Other Comprehensive Loss	Three months ended March 31, 2018 2017 (in thousands) Beginning balance $ (2,289 ) $ (4,583 ) Other comprehensive income (loss) before reclassifications 283 620 Amounts reclassified from accumulated other comprehensive loss — — Ending Balance $ (2,006 ) $ (3,963 )

Organization and Basis for Pr34

Organization and Basis for Presentation - Summary of Disaggregation of Revenue by Major Geographic Area (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	$ 25,994	$ 24,139
Americas [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	15,860	14,980
EMEA [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	8,755	7,614
Asia Pacific [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	$ 1,379	$ 1,545

Organization and Basis for Pr35

Organization and Basis for Presentation - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2018
Minimum [Member]
Disaggregation of Revenue [Line Items]
Period of payments received from customers	30 days
Maximum [Member]
Disaggregation of Revenue [Line Items]
Period of payments received from customers	60 days

Income Tax Expense - Additional

Income Tax Expense - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Corporate income tax rate	21.00%	35.00%
2017 Tax Act, one-time transition tax expense	$ 600
2017 Tax Act, remeasurement of deferred taxes, tax benefit	1,000
Unrecognized tax benefits exclusive of interest and penalties, gross	$ 556	$ 525
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	3 Months Ended
	Mar. 31, 2018USD ($)
Income Tax Disclosure [Abstract]
Unrecognized tax benefits as of December 31, 2017	$ 525
Additions for tax positions of current year	15
Additions for tax positions of prior years	16
Reductions for settlements with taxing authorities	0
Reductions for lapses of the applicable statutes of limitations	0
Unrecognized tax benefits as of March 31, 2018	$ 556

Income Tax Expense - Summary of

Income Tax Expense - Summary of Tax Years Subject to Examination in Taxing Jurisdictions (Detail)	3 Months Ended
	Mar. 31, 2018
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	2011 and forward

Inventories and Other Deferre39

Inventories and Other Deferred Costs - Summary of Inventories and Other Deferred Costs (Detail) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Inventory Disclosure [Abstract]
Raw materials	$ 3,529	$ 3,200
Work-in-process	4,500	3,745
Finished products	12,468	12,278
Other deferred costs	1,336	1,823
Total inventory and other deferred costs	$ 21,833	$ 21,046

Inventories and Other Deferre40

Inventories and Other Deferred Costs - Additional Information (Detail) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Inventory Disclosure [Abstract]
Inventory on consignment	$ 1.3	$ 1.4

Acquisition and Divestitures -

Acquisition and Divestitures - Restore Flow Allografts - Additional Information (Detail) - USD ($)	Nov. 10, 2016	Mar. 31, 2018	Mar. 31, 2017
Business Acquisition [Line Items]
Net revenue		$ 25,994,000	$ 24,139,000
Weighted average useful life		8 years
Restore Flow Allografts [Member]
Business Acquisition [Line Items]
Initial purchase price	$ 12,000,000
Acquisition-related contingent consideration	$ 900,000
Additional payment description		The first 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 continued employment, estimated at $0.9 million, will be accounted for as post-combination compensation expense rather than purchase consideration. The remaining $1.1 million that is payable to non-employee investors but that is also contingent on the continued employment of certain retained employees has been accounted for as contingent consideration, at an acquisition-date fair value of $0.9 million. This valuation reflects management’s assessment of the likelihood that the retained employees will remain employed by us, discounted at a rate of 6.1% to account for risk inherent in the probability estimate as well as for the time value of money between acquisition date and the payment date. There are also two potential earn-out payments 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.
Fair value inputs, discount rate	6.10%
Estimated weighted average cost of capital	14.10%
Maximum goodwill deductible for tax purposes		15 years
Weighted average useful life		10 years 3 months 18 days
Restore Flow Allografts [Member] | Non-employee Investors [Member]
Business Acquisition [Line Items]
Acquisition-related contingent consideration	$ 1,100,000
Acquisition-date fair value	900,000
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
Combined Earn-out Payment [Member] | Restore Flow Allografts [Member]
Business Acquisition [Line Items]
Acquisition-date fair value	$ 100,000

Acquisition and Divestitures 42

Acquisition and Divestitures - Schedule of Recognized Identified Assets Acquired and Liabilities Assumed (Detail) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017	Mar. 18, 2016	May 31, 2015
Business Acquisition [Line Items]
Goodwill	$ 23,810	$ 23,844
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

Acquisition and Divestitures 43

Acquisition and Divestitures - Acquired Intangible Assets and Related Estimated Useful Lives (Detail) - USD ($) $ in Thousands	Mar. 18, 2016	May 31, 2015	Mar. 31, 2018
Business Acquisition [Line Items]
Weighted average useful life			8 years
Restore Flow Allografts [Member]
Business Acquisition [Line Items]
Allocated fair value			$ 4,544
Weighted average useful life			10 years 3 months 18 days
Restore Flow Allografts [Member] | Non-Compete Agreement [Member]
Business Acquisition [Line Items]
Allocated fair value			$ 180
Weighted average useful life			5 years
Restore Flow Allografts [Member] | Trade Name [Member]
Business Acquisition [Line Items]
Allocated fair value			$ 271
Weighted average useful life			9 years
Restore Flow Allografts [Member] | Customer Relationships [Member]
Business Acquisition [Line Items]
Allocated fair value			$ 683
Weighted average useful life			12 years 6 months
Restore Flow Allografts [Member] | Procurement Contracts [Member]
Business Acquisition [Line Items]
Allocated fair value			$ 617
Weighted average useful life			9 years
Restore Flow Allografts [Member] | Technology [Member]
Business Acquisition [Line Items]
Allocated fair value			$ 2,793
Weighted average useful life			10 years 6 months
ProCol Biologic Graft [Member]
Business Acquisition [Line Items]
Allocated fair value	$ 620
Weighted average useful life			8 years 7 months 6 days
ProCol Biologic Graft [Member] | Non-Compete Agreement [Member]
Business Acquisition [Line Items]
Allocated fair value	$ 84
Weighted average useful life	5 years
ProCol Biologic Graft [Member] | Trade Name [Member]
Business Acquisition [Line Items]
Allocated fair value	$ 109
Weighted average useful life	9 years 6 months
ProCol Biologic Graft [Member] | Customer Relationships [Member]
Business Acquisition [Line Items]
Allocated fair value	$ 150
Weighted average useful life	9 years
ProCol Biologic Graft [Member] | Intellectual Property [Member]
Business Acquisition [Line Items]
Allocated fair value	$ 277
Weighted average useful life	9 years
Tru-Incise Valvulotome [Member]
Business Acquisition [Line Items]
Allocated fair value		$ 545
Tru-Incise Valvulotome [Member] | Non-Compete Agreement [Member]
Business Acquisition [Line Items]
Allocated fair value		$ 120
Weighted average useful life		5 years
Tru-Incise Valvulotome [Member] | Customer Relationships [Member]
Business Acquisition [Line Items]
Allocated fair value		$ 17
Weighted average useful life		3 years
Tru-Incise Valvulotome [Member] | Tradename License [Member]
Business Acquisition [Line Items]
Allocated fair value		$ 17
Weighted average useful life		3 years
Tru-Incise Valvulotome [Member] | Technology [Member]
Business Acquisition [Line Items]
Allocated fair value		$ 391
Weighted average useful life		7 years

Acquisition and Divestitures 44

Acquisition and Divestitures - ProCol Biologic Graft - Additional Information (Detail) - USD ($) $ in Millions	Mar. 18, 2016	Mar. 31, 2018	Mar. 31, 2017	Sep. 30, 2016
Business Acquisition [Line Items]
Weighted average useful life		8 years
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 45

Acquisition and Divestitures - Tru-Incise Valvulotome - Additional Information (Detail) - Tru-Incise Valvulotome [Member] - USD ($) $ in Millions	1 Months Ended	3 Months Ended	24 Months Ended
	May 31, 2015	Mar. 31, 2018	Dec. 31, 2017
Business Acquisition [Line Items]
Purchase price for acquisition of assets and rights	$ 1.4
Cash paid for assets purchased	$ 1.1		$ 0.3
Acquisition date of assets and rights		May 31, 2015
Maximum goodwill deductible for tax purposes	15 years

Acquisition and Divestitures 46

Acquisition and Divestitures - Subsequent Event - Reddick Divestiture - Additional Information (Detail) - Specialty Surgical Instrumentation, Inc [Member] - Reddick Cholangiogram Catheter and Reddick Saye-Screw [Member] - USD ($)	Apr. 05, 2018	Jun. 30, 2018
Minimum [Member] | Scenario, Forecast [Member]
Business Acquisition [Line Items]
Gain on sale of assets		$ 5,500,000
Maximum [Member] | Scenario, Forecast [Member]
Business Acquisition [Line Items]
Gain on sale of assets		$ 6,000,000
Subsequent Event [Member]
Business Acquisition [Line Items]
Proceeds from sale of assets	$ 7,400,000
Purchase agreement period	2 years
Subsequent Event [Member] | Balloon Supply Agreement [Member]
Business Acquisition [Line Items]
Purchase agreement period	6 years

Goodwill and Other Intangible47

Goodwill and Other Intangibles - Schedule of Goodwill (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2018USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Balance at December 31, 2017	$ 23,844
Effects of currency exchange	(34)
Balance at March 31, 2018	$ 23,810

Goodwill and Other Intangible48

Goodwill and Other Intangibles - Components of Identifiable Intangible Assets (Detail) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 19,157	$ 19,173
Accumulated Amortization	11,351	10,939
Net Carrying Value of Intangible Assets	7,806	8,234
Product Technology [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	10,245	10,267
Accumulated Amortization	5,106	4,908
Net Carrying Value of Intangible Assets	5,139	5,359
Trademarks and Licenses [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	1,947	1,948
Accumulated Amortization	1,491	1,468
Net Carrying Value of Intangible Assets	456	480
Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	5,391	5,383
Accumulated Amortization	3,456	3,299
Net Carrying Value of Intangible Assets	1,935	2,084
Other Intangible Assets [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	1,574	1,575
Accumulated Amortization	1,298	1,264
Net Carrying Value of Intangible Assets	$ 276	$ 311

Goodwill and Other Intangible49

Goodwill and Other Intangibles - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Finite-Lived Intangible Assets [Line Items]
Weighted-average amortization period for intangibles	8 years
Amortization expense	$ 400	$ 500	$ 680	$ 713	$ 901	$ 1,129	$ 1,389	$ 1,202
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	3 years

Goodwill and Other Intangible50

Goodwill and Other Intangibles - Amortization Expense Included in General and Administrative Expense (Detail) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense	$ 400	$ 500	$ 680	$ 713	$ 901	$ 1,129	$ 1,389	$ 1,202

Accrued Expenses and Other Lo51

Accrued Expenses and Other Long-term Liabilities - Accrued Expenses (Detail) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Payables and Accruals [Abstract]
Compensation and related taxes	$ 3,951	$ 6,494
Aquisition-related liabilities	0	0
Income and other taxes	414	703
Professional fees	323	35
Dividend payable	1,351
Other	3,079	2,538
Total	$ 9,118	$ 9,770

Accrued Expenses and Other Lo52

Accrued Expenses and Other Long-term Liabilities - Schedule of Other Long-term Liabilities (Detail) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Other Liabilities, Noncurrent [Abstract]
Aquisition-related liabilities	$ 36	$ 127
Deferred rent	554	561
Income taxes	340	321
Other	191	179
Total	$ 1,121	$ 1,188

Segment and Enterprise-wide D53

Segment and Enterprise-wide Disclosures - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2018Segment
Segment Reporting [Abstract]
Number of operating segments	1

Segment and Enterprise-wide D54

Segment and Enterprise-wide Disclosures - Net Sales to Unaffiliated Customers by Geography (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Segment Reporting Information [Line Items]
Net sales	$ 25,994	$ 24,139
United States [Member]
Segment Reporting Information [Line Items]
Net sales	14,820	14,047
Germany [Member]
Segment Reporting Information [Line Items]
Net sales	3,106	2,865
Other Countries [Member]
Segment Reporting Information [Line Items]
Net sales	$ 8,068	$ 7,227

Share-based Compensation - Shar

Share-based Compensation - Share-Based Compensation Expense (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Schedule of Trading Securities and Other Trading Assets [Line Items]
Total share-based compensation	$ 621	$ 487
Stock Option Awards [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Total share-based compensation	389	314
Restricted Stock Units [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Total share-based compensation	$ 232	$ 173

Share-based Compensation - Sche

Share-based Compensation - Schedule of Stock-based Compensation (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation	$ 621	$ 487
Cost of Sales [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation	64	53
Sales and Marketing [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation	138	116
General and Administrative [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation	351	274
Research and Development [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation	$ 68	$ 44

Share-based Compensation - Addi

Share-based Compensation - Additional Information (Detail) - shares	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options granted	0
Issue of common stock	35,000	115,000
Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units issued	0	0

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
	Mar. 31, 2018	Mar. 31, 2017
Basic:
Net income available for common stockholders	$ 3,853	$ 3,219
Weighted average shares outstanding	19,283	18,631
Basic earnings per share	$ 0.20	$ 0.17
Diluted:
Net income available for common stockholders	$ 3,853	$ 3,219
Weighted-average shares outstanding	19,283	18,631
Common stock equivalents, if dilutive	898	1,076
Shares used in computing diluted earnings per common share	20,181	19,707
Diluted earnings per share	$ 0.19	$ 0.16
Shares excluded in computing diluted earnings per share as those shares would be anti-dilutive	218	1

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Detail) - USD ($)	Apr. 23, 2018	Mar. 31, 2018	Mar. 31, 2017	Jul. 25, 2017
Business Acquisition, Equity Interests Issued or Issuable [Line Items]
Cash dividend on common stock per share		$ 0.070	$ 0.055
Dividend Payment		$ 1,351,000
Installment 1 FY 2018 [Member]
Business Acquisition, Equity Interests Issued or Issuable [Line Items]
Dividend payment date		Jun. 7, 2018
Dividend record date		May 22, 2018
Installment 1 FY 2018 [Member] | Subsequent Event [Member]
Business Acquisition, Equity Interests Issued or Issuable [Line Items]
Cash dividend on common stock per share	$ 0.07
Dividend Payment	$ 1,400,000
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 authorized aggregate $7.5 million repurchase limit is reached.
Share repurchases		0
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
	Feb. 28, 2011	Mar. 31, 2018	Mar. 31, 2017	Apr. 05, 2018	Dec. 07, 2017	Sep. 06, 2017	Jun. 08, 2017	Apr. 06, 2017
Dividends Payable [Line Items]
Per Share Amount		$ 0.070	$ 0.055
Dividend Payment		$ 1,351
Installment FY 2018 [Member]
Dividends Payable [Line Items]
Record Date		Mar. 22, 2018
Payment Date		Apr. 5, 2018
Per Share Amount	$ 0.070
Dividend Payment				$ 1,351
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 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 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 4 FY 2017 [Member]
Dividends Payable [Line Items]
Record Date		Nov. 22, 2017
Payment Date		Dec. 7, 2017
Per Share Amount	$ 0.055
Dividend Payment					$ 1,060

Supplemental Cash Flow Inform61

Supplemental Cash Flow Information - Supplemental Cash Flow Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Supplemental Cash Flow Elements [Abstract]
Cash paid for income taxes, net	$ 1,562	$ 275

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail) - USD ($)	Mar. 18, 2016	Mar. 31, 2018	Nov. 10, 2016
Restore Flow Allografts [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Acquisition-related contingent consideration			$ 900,000
Restore Flow Allografts [Member] | Maximum [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Acquisition-related contingent consideration			6,000,000
Restore Flow Allografts [Member] | Non-employee Investors [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Acquisition-related contingent consideration			1,100,000
Acquisition-date fair value			900,000
ProCol Biologic Graft [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Business combination consideration calculated, percentage of revenues	10.00%
Additional consideration initial value	$ 300,000
Level 2 [Member] | Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value		$ 0
Fair Value, Inputs, Level 3 [Member] | Restore Flow Allografts [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Acquisition-date fair value			1,000,000
Fair Value, Inputs, Level 3 [Member] | Restore Flow Allografts [Member] | Earn Out Payment [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Acquisition-related contingent consideration			4,000,000
Fair Value, Inputs, Level 3 [Member] | Restore Flow Allografts [Member] | Maximum [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Acquisition-related contingent consideration			5,100,000
Fair Value, Inputs, Level 3 [Member] | Restore Flow Allografts [Member] | Non-employee Investors [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Acquisition-related contingent consideration			$ 1,100,000
Fair Value, Inputs, Level 3 [Member] | ProCol Biologic Graft [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Business combination consideration calculated, percentage of revenues	10.00%
Additional consideration initial value	$ 300,000

Fair Value Measurements - Rollf

Fair Value Measurements - Rollforward of the Fair Value as Determined by Level 3 (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Fair Value Disclosures [Abstract]
Beginning balance	$ 1,300	$ 1,320
Additions	0	0
Payments	(35)	(23)
Change in fair value included in earnings	30	23
Ending balance	$ 1,295	$ 1,320

Accumulated Other Comprehensi64

Accumulated Other Comprehensive Loss - Summary of Accumulated Other Comprehensive Loss (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	$ 109,770
Ending Balance	113,470
Accumulated Other Comprehensive Income (Loss) [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(2,289)	$ (4,583)
Other comprehensive income (loss) before reclassifications	283	620
Amounts reclassified from accumulated other comprehensive loss	0	0
Ending Balance	$ (2,006)	$ (3,963)