Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jun. 30, 2020 | Jul. 31, 2020 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0001158895 | |
Entity Registrant Name | LEMAITRE VASCULAR INC | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Period Focus | Q2 | |
Document Fiscal Year Focus | 2020 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Jun. 30, 2020 | |
Document Transition Report | false | |
Entity File Number | 001-33092 | |
Entity Incorporation, State or Country Code | DE | |
Entity Tax Identification Number | 04-2825458 | |
Entity Address, Address Line One | 63 Second Avenue | |
Entity Address, City or Town | Burlington | |
Entity Address, State or Province | MA | |
Entity Address, Postal Zip Code | 01803 | |
City Area Code | 781 | |
Local Phone Number | 221-2266 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Title of 12(b) Security | Common stock, $0.01 par value per share | |
Trading Symbol | LMAT | |
Security Exchange Name | NASDAQ | |
Entity Common Stock, Shares Outstanding | 20,227,177 |
Consolidated Balance Sheets (Cu
Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
Assets | ||
Cash and cash equivalents | $ 19,976 | $ 11,786 |
Short-term marketable securities | 5,074 | 20,895 |
Accounts receivable, net of allowances of $518 at June 30, 2020 and $522 at December 31, 2019 | 17,696 | 16,572 |
Inventory and other deferred costs | 46,340 | 39,527 |
Prepaid expenses and other current assets | 2,783 | 3,312 |
Total current assets | 91,869 | 92,092 |
Property and equipment, net | 15,685 | 14,854 |
Right-of-use leased assets | 16,734 | 15,208 |
Goodwill | 66,151 | 39,951 |
Other intangibles, net | 63,165 | 24,893 |
Deferred tax assets | 1,027 | 1,084 |
Other assets | 1,086 | 259 |
Total assets | 255,717 | 188,341 |
Liabilities and stockholders’ equity | ||
Current portion of long-term debt | 2,000 | 0 |
Revolving line of credit | 25,000 | 0 |
Accounts payable | 1,237 | 2,604 |
Accrued expenses | 11,836 | 14,014 |
Acquisition-related obligations | 2,517 | 2,476 |
Lease liabilities - short-term | 1,767 | 1,757 |
Total current liabilities | 44,357 | 20,851 |
Long-term debt | 36,990 | |
Lease liabilities - long-term | 15,547 | 13,955 |
Deferred tax liabilities | 1,178 | 1,179 |
Other long-term liabilities | 5,016 | 4,215 |
Total liabilities | 103,088 | 40,200 |
Stockholders’ equity: | ||
Preferred stock, $0.01 par value; authorized 3,000,000 shares; none outstanding | 0 | 0 |
Common stock, $0.01 par value; authorized 37,000,000 shares; issued 21,705,334 shares at June 30, 2020, and 21,678,927 shares at December 31, 2019 | 217 | 217 |
Additional paid-in capital | 107,791 | 105,934 |
Retained earnings | 59,869 | 57,029 |
Accumulated other comprehensive loss | (4,159) | (4,007) |
Treasury stock, at cost; 1,523,636 shares at June 30, 2020 and 1,501,511 shares at December 31, 2019 | (11,089) | (11,032) |
Total stockholders’ equity | 152,629 | 148,141 |
Total liabilities and stockholders’ equity | $ 255,717 | $ 188,341 |
Consolidated Balance Sheets (_2
Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
Accounts receivable, allowances | $ 518 | $ 522 |
Preferred stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Preferred stock, shares authorized (in shares) | 3,000,000 | 3,000,000 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, shares authorized (in shares) | 37,000,000 | 37,000,000 |
Common stock, shares issued (in shares) | 21,705,334 | 21,678,927 |
Treasury stock, at cost (in shares) | 1,523,636 | 1,501,511 |
Consolidated Statements of Oper
Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Net Sales | $ 24,851 | $ 29,483 | $ 55,402 | $ 57,962 |
Cost of sales | 7,822 | 9,168 | 17,890 | 18,183 |
Gross profit | 17,029 | 20,315 | 37,512 | 39,779 |
Sales and marketing | 4,686 | 7,613 | 12,631 | 15,458 |
General and administrative | 5,332 | 4,531 | 10,523 | 9,475 |
Research and development | 2,139 | 2,256 | 5,133 | 4,496 |
Total operating expenses | 12,157 | 14,400 | 28,287 | 29,429 |
Income from operations | 4,872 | 5,915 | 9,225 | 10,350 |
Other income (expense): | ||||
Interest income | 74 | 224 | 179 | 381 |
Interest expense | (66) | 0 | (66) | 0 |
Foreign currency gain (loss) | (113) | (51) | (291) | (130) |
Income before income taxes | 4,767 | 6,088 | 9,047 | 10,601 |
Provision for income taxes | 1,267 | 1,464 | 2,373 | 2,464 |
Net income | $ 3,500 | $ 4,624 | $ 6,674 | $ 8,137 |
Earnings per share of common stock: | ||||
Basic (in dollars per share) | $ 0.17 | $ 0.23 | $ 0.33 | $ 0.41 |
Diluted (in dollars per share) | $ 0.17 | $ 0.23 | $ 0.33 | $ 0.40 |
Weighted-average shares outstanding: | ||||
Basic (in shares) | 20,180 | 19,680 | 20,174 | 19,660 |
Diluted (in shares) | 20,399 | 20,246 | 20,415 | 20,226 |
Cash dividends declared per common share (in dollars per share) | $ 0.095 | $ 0.085 | $ 0.190 | $ 0.170 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Net income | $ 3,500 | $ 4,624 | $ 6,674 | $ 8,137 |
Other comprehensive income (loss): | ||||
Foreign currency translation adjustment, net | 1,055 | 208 | (154) | (53) |
Unrealized gain (loss) on short-term marketable securities | 311 | 66 | 2 | 135 |
Total other comprehensive income (loss) | 1,366 | 274 | (152) | 82 |
Comprehensive income | $ 4,866 | $ 4,898 | $ 6,522 | $ 8,219 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Treasury Stock [Member] | Total |
Balance (in shares) at Dec. 31, 2018 | 21,110,224 | 1,501,511 | ||||
Balance at Dec. 31, 2018 | $ 211 | $ 98,442 | $ 45,831 | $ (3,900) | $ (10,349) | $ 130,235 |
Net income | 3,513 | 3,513 | ||||
Other comprehensive income (loss) | (192) | (192) | ||||
Issuance of common stock for stock options exercised (in shares) | 61,419 | |||||
Issuance of common stock for stock options exercised | $ 1 | 478 | 479 | |||
Vested restricted stock units (in shares) | 2,026 | |||||
Vested restricted stock units | $ 0 | 0 | ||||
Stock-based compensation expense | 746 | 746 | ||||
Repurchase of common stock at cost (in shares) | 926 | |||||
Repurchase of common stock at cost | $ (21) | (21) | ||||
Common stock dividend | (1,672) | (1,672) | ||||
Balance (in shares) at Mar. 31, 2019 | 21,173,669 | 1,502,437 | ||||
Balance at Mar. 31, 2019 | $ 212 | 99,666 | 47,672 | (4,092) | $ (10,370) | 133,088 |
Balance (in shares) at Dec. 31, 2018 | 21,110,224 | 1,501,511 | ||||
Balance at Dec. 31, 2018 | $ 211 | 98,442 | 45,831 | (3,900) | $ (10,349) | 130,235 |
Net income | 8,137 | |||||
Other comprehensive income (loss) | 82 | |||||
Balance (in shares) at Jun. 30, 2019 | 21,250,872 | 1,503,445 | ||||
Balance at Jun. 30, 2019 | $ 213 | 100,890 | 50,624 | (3,818) | $ (10,372) | 137,537 |
Balance (in shares) at Mar. 31, 2019 | 21,173,669 | 1,502,437 | ||||
Balance at Mar. 31, 2019 | $ 212 | 99,666 | 47,672 | (4,092) | $ (10,370) | 133,088 |
Net income | 4,624 | 4,624 | ||||
Other comprehensive income (loss) | 274 | 274 | ||||
Issuance of common stock for stock options exercised (in shares) | 77,032 | |||||
Issuance of common stock for stock options exercised | $ 1 | 530 | 531 | |||
Vested restricted stock units (in shares) | 171 | |||||
Vested restricted stock units | $ 0 | 0 | 0 | |||
Stock-based compensation expense | 694 | 694 | ||||
Repurchase of common stock at cost (in shares) | 1,008 | |||||
Repurchase of common stock at cost | $ (2) | (2) | ||||
Common stock dividend | (1,672) | (1,672) | ||||
Balance (in shares) at Jun. 30, 2019 | 21,250,872 | 1,503,445 | ||||
Balance at Jun. 30, 2019 | $ 213 | 100,890 | 50,624 | (3,818) | $ (10,372) | 137,537 |
Balance (in shares) at Dec. 31, 2019 | 21,678,927 | 1,522,035 | ||||
Balance at Dec. 31, 2019 | $ 217 | 105,934 | 57,029 | (4,007) | $ (11,032) | 148,141 |
Net income | 3,174 | 3,174 | ||||
Other comprehensive income (loss) | (1,518) | (1,518) | ||||
Issuance of common stock for stock options exercised (in shares) | 19,141 | |||||
Issuance of common stock for stock options exercised | $ 0 | 233 | 233 | |||
Vested restricted stock units (in shares) | 4,074 | |||||
Vested restricted stock units | $ 0 | 0 | ||||
Stock-based compensation expense | 779 | 779 | ||||
Repurchase of common stock at cost (in shares) | 1,601 | |||||
Repurchase of common stock at cost | $ (57) | (57) | ||||
Common stock dividend | (1,917) | (1,917) | ||||
Balance (in shares) at Mar. 31, 2020 | 21,702,142 | 1,523,636 | ||||
Balance at Mar. 31, 2020 | $ 217 | 106,946 | 58,286 | (5,525) | $ (11,089) | 148,835 |
Balance (in shares) at Dec. 31, 2019 | 21,678,927 | 1,522,035 | ||||
Balance at Dec. 31, 2019 | $ 217 | 105,934 | 57,029 | (4,007) | $ (11,032) | 148,141 |
Net income | 6,674 | |||||
Other comprehensive income (loss) | (152) | |||||
Balance (in shares) at Jun. 30, 2020 | 21,705,334 | 1,523,636 | ||||
Balance at Jun. 30, 2020 | $ 217 | 107,791 | 59,869 | (4,159) | $ (11,089) | 152,629 |
Balance (in shares) at Mar. 31, 2020 | 21,702,142 | 1,523,636 | ||||
Balance at Mar. 31, 2020 | $ 217 | 106,946 | 58,286 | (5,525) | $ (11,089) | 148,835 |
Net income | 3,500 | 3,500 | ||||
Other comprehensive income (loss) | 1,366 | 1,366 | ||||
Issuance of common stock for stock options exercised (in shares) | 3,000 | |||||
Issuance of common stock for stock options exercised | $ 0 | 42 | 42 | |||
Vested restricted stock units (in shares) | 192 | |||||
Vested restricted stock units | $ 0 | 0 | 0 | |||
Stock-based compensation expense | 803 | 803 | ||||
Common stock dividend | (1,917) | (1,917) | ||||
Balance (in shares) at Jun. 30, 2020 | 21,705,334 | 1,523,636 | ||||
Balance at Jun. 30, 2020 | $ 217 | $ 107,791 | $ 59,869 | $ (4,159) | $ (11,089) | $ 152,629 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2020 | Jun. 30, 2019 | |
Operating activities | ||
Net income | $ 6,674 | $ 8,137 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation and amortization | 3,177 | 2,630 |
Stock-based compensation | 1,582 | 1,440 |
Fair value adjustment to contingent consideration obligations | 113 | 79 |
Provision for doubtful accounts | 142 | 219 |
Provision for inventory write-downs | 609 | 402 |
Foreign currency transaction loss | 163 | (63) |
Changes in operating assets and liabilities: | ||
Accounts receivable | 441 | (62) |
Inventory and other deferred costs | (4,076) | (5,288) |
Prepaid expenses and other assets | (197) | 715 |
Accounts payable and other liabilities | (2,092) | (4,094) |
Net cash provided by operating activities | 6,536 | 4,115 |
Investing activities | ||
Purchases of property and equipment and other assets | (1,174) | (1,651) |
Payments related to acquisitions | (72,559) | 0 |
Purchases of short-term marketable securities | (2,178) | (13,175) |
Proceeds from sales of marketable securities | 18,000 | 0 |
Net cash used in investing activities | (57,911) | (14,826) |
Financing activities | ||
Payments of deferred acquisition consideration | 0 | (59) |
Proceeds from revolving line of credit | 25,000 | 0 |
Proceeds from issuance of long-term debt | 40,000 | 0 |
Payment of deferred debt issuance costs | (1,751) | 0 |
Proceeds from issuance of common stock | 276 | 1,008 |
Purchase of treasury stock | (57) | (23) |
Common stock cash dividend paid | (3,834) | (3,344) |
Net cash provided by (used in) financing activities | 59,634 | (2,418) |
Effect of exchange rate changes on cash and cash equivalents | (69) | 75 |
Net increase in cash and cash equivalents | 8,190 | (13,054) |
Cash and cash equivalents at beginning of period | 11,786 | 26,318 |
Cash and cash equivalents at end of period | $ 19,976 | $ 13,264 |
Note 1 - Organization and Basis
Note 1 - Organization and Basis for Presentation | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | Notes to Consolidated Financial Statements June 30 , 2020 (unaudited) 1 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: anastomotic clips, angioscopes, biologic vascular and dialysis grafts, biologic vascular and cardiac patches, carotid shunts, embolectomy catheters, occlusion catheters, powered phlebectomy devices, radiopaque marking tape, remote endarterectomy devices, surgical glue, synthetic vascular grafts and valvulotomes. Our offices and production facilities are located in Burlington, Massachusetts; Fox River Grove, Illinois; North Brunswick, New Jersey (Note 4 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 10 X. not may six June 30, 2020 not December 31, 2019, 10 March 11, 2020. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the unaudited consolidated financial statements and accompanying notes to unaudited consolidated financial statements. Due to the COVID- 19 19 not August 6, 2020, 10 19. 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. 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, as described below, and, during the periods presented in our consolidated financial statements, entered into consigned inventory arrangements with either hospitals or distributors on a limited basis. With the acquisition of the RestoreFlow allograft business, we also derive revenues from the processing and cryopreservation of human tissues for implantation in patients. These revenues are recognized when services have been provided and the tissue has been shipped to the customer, provided all other revenue recognition criteria discussed in the succeeding paragraph have been met. We recognize revenue under the provisions of ASU 2014 09, Revenue from Contracts with Customers (Topic 606 606 Step 1: Step 2: Step 3: Step 4: Step 5: 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). In instances in which shipping and handling activities are performed after a customer takes control of the goods (such as when title passes upon shipment from our dock), we have made the policy election allowed under Topic 606 not We generally reference customer purchase orders to determine the existence of a contract. Orders that are not one not 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 Vascular has a present right to receive payment for the goods. 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 June 30, Six months ended June 30, 2020 2019 2020 2019 ($ in thousands) ($ in thousands) Americas $ 14,942 $ 17,511 $ 33,278 $ 33,886 Europe, Middle East and Africa 7,950 10,014 18,300 20,027 Asia/Pacific Rim 1,959 1,958 3,824 4,049 Total $ 24,851 $ 29,483 $ 55,402 $ 57,962 We do not no not no Customers returning products may 18 twelve 30 not not Recent Accounting Pronouncements In December 2019, 2019 12 740 740 740. January 1, 2021, not |
Note 2 - Income Tax Expense
Note 2 - Income Tax Expense | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 2. 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 not, not 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 Our policy is to classify interest and penalties related to unrecognized tax benefits as income tax expense. Our 2020 2019 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 June 30, 2020, 2027. Six months ended (in thousands) Unrecognized tax benefits as of December 31, 2019 $ 848 Additions for tax positions of current year - Additions for tax positions of prior years (4 ) Reductions for settlements with taxing authorities (59 ) Reductions for lapses of the applicable statutes of limitations - Unrecognized tax benefits as of June 30, 2020 $ 785 As of June 30, 2020, United States 2016 and forward Foreign 2013 and forward |
Note 3 - Inventories and Other
Note 3 - Inventories and Other Deferred Costs | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Inventory and Other Deferred Costs Disclosure [Text Block] | 3. Inventories and other deferred costs consist of the following: June 30, 2020 December 31, 2019 (in thousands) Raw materials $ 5,354 $ 5,359 Work-in-process 5,510 6,238 Finished products 29,608 23,032 Other deferred costs 5,868 4,898 Total inventory and other deferred costs $ 46,340 $ 39,527 We had inventory on consignment at customer sites of $1.9 million at June 30, 2020 December 31, 2019. Other deferred costs relate to our RestoreFlow allograft offering and 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 U.S. federal law, human tissues cannot be bought or sold. Therefore, the vascular tissues we preserve are not |
Note 4 - Acquisitions and Dives
Note 4 - Acquisitions and Divestitures | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Business Combination Disclosure [Text Block] | 4. Our 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 With the exception of Cardial discussed below, 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 3 14 Artegraft Biologic Grafts On June 22, 2020, December 31, 2021 Three earn-out payments of $5.8 ● $5.8 million upon final determination that 20,000 units of Product have been sold to third January 1, 2021 December 31, 2021; ● $5.8 million upon final determination that there have been 24,000 units of Product have been sold to third January 1, 2022 December 31, 2022; ● $5.8 million upon final determination that there have been 28,800 units of Product have been sold to third January 1, 2023 December 31, 2023. The Artegraft APA includes a catch-up feature on the earn-outs such that, at the end of the three three three The following table summarizes the preliminary purchase price allocation: Allocated Fair Value (in thousands) Inventory $ 3,859 Accounts receivable 1,789 Equipment and supplies 1,140 Accounts payable and other (53 ) Intangible assets 40,001 Goodwill 26,170 Purchase price $ 72,906 The goodwill results from expected synergies of combining the acquired products and customer information to our existing operations, and 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 Estimated Fair Value Useful Life (in thousands) (in years) Customer relationships $ 21,255 15.0 Intellectual property 16,449 10.0 Non-compete agreement 104 5.0 Tradenames 2,193 10.0 Total intangible assets $ 40,001 The weighted-average amortization period of the acquired intangible assets was 12.6 years. The results of operations of the Artegraft biologic graft business have been included in the results of operations of LeMaitre since the date of acquisition of June 22, 2020. June 30, 2020. three six June 30, 2020 2019 2019. not 2019, Unaudited Pro Forma Financial Information Three months ended June 30, Six months ended June 30, 2020 2019 2020 2019 ($ in thousands) ($ in thousands) Net sales $ 28,688 $ 33,319 $ 63,486 $ 65,109 Net income 2,930 4,012 5,568 6,815 Net income per share Basic $ 0.15 $ 0.20 $ 0.28 $ 0.35 Diluted $ 0.14 $ 0.20 $ 0.27 $ 0.34 CardioCel and VascuCel Biologic Patches On October 11, 2019 ( three Under the Admedus APA we agreed to pay Admedus a total of up to $15.3 million for the purchase of substantially all of its biologic patch business assets, other than specifically identified Excluded Assets, plus $8.0 million for the technology license. The acquired assets (in combination with the license) included inventory, intellectual property, permits and approvals, data and records, and customer and supplier information, as well as a small amount of machinery and equipment. At closing, $14.2 million of the purchase price was paid to Admedus. Shortly thereafter another $0.3 million was paid in connection with delivery of audited financial statements of the acquired business to LeMaitre. Additional consideration may ● $0.7 million within 15 first ● $0.7 million within 15 third ● $2.0 million within 15 ● $2.5 million if revenues in the first 12 $20 first 12 $15 ● $2.5 million if revenues in the second 12 $30 first 12 $22.5 ● $0.5 million if by the first 36 60 The following table summarizes the preliminary purchase price allocation: Allocated Fair Value (in thousands) Inventory and other $ 1,343 Intangible assets 8,725 Goodwill 7,344 Purchase price $ 17,412 The goodwill results from expected synergies of combining the acquired products and customer information to our existing operations, and is deductible for tax purposes over 15 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) (in years) Customer relationships $ 5,562 12.0 Intellectual property 2,335 8.0 Non-compete agreement 361 5.0 Tradenames 467 8.0 Total intangible assets $ 8,725 The weighted-average amortization period of the acquired intangible assets was 10.4 years. Tru-Incise Valve Cutter On July 12, 2019, The purchase price for the acquired assets, which included inventory, machinery and equipment, intellectual property, and customer and supplier information, was $8.0 million. Of this amount, $6.8 million was paid at closing, with three second third no may first July 2020. The following table summarizes the preliminary purchase price allocation: Allocated Fair Value (in thousands) Inventory $ 276 Equipment and supplies 70 Intangible assets 4,844 Goodwill 2,748 Purchase price $ 7,938 The goodwill results from expected synergies of combining the acquired products and customer information to our existing operations, and 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) (in years) Customer relationships $ 3,945 13.0 Intellectual property 563 7.0 Non-compete agreement 233 5.0 Tradenames 103 7.0 Total intangible assets $ 4,844 The weighted-average amortization period of the acquired intangible assets was 11.8 years. Cardial On October 22, 2018, The purchase price for the acquired assets, including the land and building, inventory, machinery and equipment, intellectual property, permits and approvals, data and records, and customer and supplier information, was €2.0 €1.1 €0.5 €0.4 two twelve eighteen first two not second April 2020, The following table summarizes the purchase price allocation: Allocated Fair Value (in thousands) Inventory € 2,419 Land and building 750 Equipment and supplies 94 Intangible assets 623 Bargain purchase gain (1,946 ) Purchase price € 1,940 The bargain purchase gain was recorded to reflect the excess of the net assets acquired over the purchase price. We recorded deferred taxes on this gain of €0.5 €1.4 The following table reflects the allocation of purchase consideration to the acquired intangible assets and related estimated useful lives: Allocated Fair Value Weighted Average Useful Life (in thousands) (in years) Customer relationships € 250 16.0 Intellectual property 237 5.0 Non-compete agreement 46 5.0 Tradenames 90 5.0 Total intangible assets € 623 The weighted-average amortization period of the acquired intangible assets was 9.4 years. Applied Medical Clot Management Business On September 20, 2018, twelve not The purchase price for the acquired assets, which included inventory, machinery and equipment, intellectual property, permits and approvals, data and records, and customer and supplier information, was $14.2 million. Of this amount, $11.0 million was paid at closing, and another $2.0 million was paid 12 24 no may The following table summarizes the purchase price allocation: Allocated Fair Value (in thousands) Inventory $ 739 Equipment and supplies 416 Intangible assets 6,527 Goodwill 6,361 Purchase price $ 14,043 The goodwill results from expected synergies of combining the acquired products and customer information to our existing operations, and 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) (in years) Customer relationships $ 4,475 16.0 Intellectual property 1,316 7.0 Non-compete agreement 530 5.0 Tradenames 206 7.0 Total intangible assets $ 6,527 The weighted-average amortization period of the acquired intangible assets was 13.0 years. Reddick Divestiture On April 5, 2018, two six June 30, 2018 Allocated Fair Value (in thousands) Inventory $ 308 Deferred revenue - transition services agreement 1,081 Goodwill 135 Gain on divestiture 5,876 Consideration received $ 7,400 Under the terms of the TSA, we agreed to manufacture the Reddick products for the buyer at prices at or in some cases below our cost. We allocated a portion of the consideration received to the TSA to reflect it at fair value and recorded it as deferred revenue. As the products were sold to the buyer, we amortized a portion of the deferred revenue to adjust the gross margin on the sale to fair value on a specific identification basis. The TSA ended by mutual agreement during the quarter ended September 30, 2019 |
Note 5 - Goodwill and Other Int
Note 5 - Goodwill and Other Intangibles | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Goodwill and Intangible Assets Disclosure [Text Block] | 5. Goodwill consists of the following as of June 30, 2020 ( (in thousands) Balance at December 31, 2019 $ 39,951 Additions for acquisitions 26,170 Effects of currency exchange 30 Balance at June 30, 2020 $ 66,151 Other intangible assets consist of the following: June 30, 2020 December 31, 2019 Gross Net Gross Net Carrying Accumulated Carrying Carrying Accumulated Carrying Value Amortization Value Value Amortization Value (in thousands) Product technology and intellectual property $ 29,951 $ 6,457 $ 23,494 $ 13,502 $ 5,722 $ 7,780 Trademarks, tradenames and licenses 4,000 800 3,200 1,807 702 1,105 Customer relationships 39,470 4,047 35,423 18,215 3,364 14,851 Other intangible assets 1,767 719 1,048 1,725 568 1,157 Total identifiable intangible assets $ 75,188 $ 12,023 $ 63,165 $ 35,249 $ 10,356 $ 24,893 These intangible assets are being amortized over their useful lives ranging from 2 to 16 years. The weighted-average amortization period for these intangibles as of June 30, 2020 Three months ended June 30, Six months ended June 30, 2020 2019 2020 2019 (in thousands) (in thousands) Amortization expense $ 894 $ 556 $ 1,728 $ 1,111 We estimate that amortization expense for the remainder of 2020 five Year ended December 31, 2020 2021 2022 2023 2024 2025 (in thousands) Amortization expense $ 3,146 $ 6,258 $ 6,053 $ 5,979 $ 5,783 $ 5,545 |
Note 6 - Revolving Line of Cred
Note 6 - Revolving Line of Credit and Long-term Debt | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | 6. Revolving Line of Credit and Long-term Debt In connection with the Artegraft acquisition (Note 4 June 30, 2020, five June 30, 2020 (in thousands) Five $1,010 $ 38,990 Less current portion (2,000 ) $ 36,990 The loans bear interest at a rate per annum of, at our option, either (i) the Base Rate plus an applicable margin of from 1.25% to 1.75% depending on our consolidated leverage ratio, or (ii) the Eurodollar Rate plus an applicable margin of from 2.25% to 2.75% depending on our consolidated leverage ratio. Base Rate is defined in the credit agreement as a fluctuating rate per annum of the Federal Funds rate plus 0.5% or the prime rate of interest established from time to time by KeyBank National Association. At June 30, 2020 not five The term of the revolving line of credit is five June 22, 2025. September 30, 2020 March 31, 2025, June 22, 2025. We must comply with various financial and non-financial covenants, which are set forth in the Credit Agreement governing the credit facility. The primary financial covenant consists of a maximum consolidated leverage ratio. The lenders are entitled to accelerate repayment of the loans and terminate the revolving credit commitment upon the occurrence of any of various events of default as described in the Credit Agreement. Borrowings under the secured credit facility are secured by 100% of the stock of our domestic subsidiaries, portions of the stock of certain of our foreign subsidiaries, and substantially all of our and our subsidiaries’ other property and assets, in each case subject to various exceptions. We are required to make mandatory prepayments of the term loans and any revolving credit loans in various amounts if we have Excess Cash Flow (as defined in the Credit Agreement, and commencing in respect of our fiscal year ending December 31, 2021 may In connection with our debt issuance, we recorded interest expense, including amortization of deferred financing costs and original issue discounts, in our consolidated statements of operations for the three June 30, 2020 |
Note 7 - Leases
Note 7 - Leases | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | 7 . Leases We conduct the majority of our operations in leased facilities, all of which are accounted for as operating leases, as they do not five five December 2030. 2019, August 2023. two five October 2029. five February 2023. September May, twelve None no no June 30, 2020. We also lease automobiles under operating leases in the U.S. as well as certain of our international subsidiaries. The terms of these leases are generally three We account for leases under the provisions of ASU No. 2016 02, Leases (Topic 842 2018 11, Leases (Topic 842 Our most significant judgment involved in determining the amounts to initially record as lease liabilities and right-of-use assets upon initial adoption of this standard and for leases entered into subsequently was the selection of a discount rate; because we had no no 3.5% Additional information with respect to our leases is as follows: Three months ended June 30, Six months ended June 30, 2020 2019 2020 2019 (in thousands) (in thousands) (in thousands) (in thousands) Lease cost Operating lease cost $ 481 $ 432 $ 955 $ 854 Short-term lease cost 44 63 57 131 Total lease cost $ 525 $ 495 $ 1,012 $ 985 Other information Cash paid for amounts included in the measurement of operating lease liabilities $ 580 $ 445 $ 1,171 $ 959 Right-of-use assets obtained in exchange for new operating leae liabilities $ 2,332 $ 594 $ 2,481 $ 810 Weighted average remaining lease term - operating leases (in years) 8.8 4.1 8.8 4.1 Weighted average discount rate - operating leases 5.25 % 5.25 % 5.25 % 5.25 % At June 30, 2020, one Remainder of 2020 $ 1,367 Year ending December 31, 2021 2,654 2022 2,279 2023 1,978 2024 1,865 Thereafter 11,827 Adjustment to net present value as of June 30, 2020 (4,657 ) Minimum noncancelable lease liability $ 17,313 |
Note 8 - Accrued Expenses and O
Note 8 - Accrued Expenses and Other Long-term Liabilities | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Accounts Payable, Accrued Liabilities, and Other Liabilities Disclosure, Noncurrent [Text Block] | 8 . Accrued Expenses and Other Long-term Liabilities Accrued expenses consist of the following: June 30, 2020 December 31, 2019 (in thousands) Compensation and related taxes $ 5,350 $ 8,550 Income and other taxes 1,069 1,003 Professional fees 655 40 Other 4,762 4,421 Total $ 11,836 $ 14,014 Other long-term liabilities consist of the following: June 30, 2020 December 31, 2019 (in thousands) Aquisition-related liabilities $ 4,201 $ 3,268 Income taxes 710 781 Other 105 166 Total $ 5,016 $ 4,215 |
Note 9 - Segment and Enterprise
Note 9 - Segment and Enterprise-wide Disclosures | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | 9 . Segment and Enterprise-Wide Disclosures Under Accounting Standards Codification Topic 280, Segment Reporting No 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, Germany, Australia and France. Net sales to unaffiliated customers by country were as follows: Three months ended June 30, Six months ended June 30, 2020 2019 2020 2019 (in thousands) (in thousands) United States $ 13,535 $ 16,006 $ 30,535 $ 30,764 Germany 2,699 3,192 5,993 6,272 Other countries 8,617 10,285 18,874 20,926 Net Sales $ 24,851 $ 29,483 $ 55,402 $ 57,962 |
Note 10 - Share-based Compensat
Note 10 - Share-based Compensation | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | 10 . Share-based Compensation Our Third Amended and Restated 2006 Three months ended June 30, Six months ended June 30, 2020 2019 2020 2019 (in thousands) (in thousands) Stock option awards $ 495 $ 432 $ 995 $ 879 Restricted stock units 308 262 587 561 Total share-based compensation $ 803 $ 694 $ 1,582 $ 1,440 Stock-based compensation is included in our statements of operations as follows: Three months ended Six months ended June 30, June 30, 2020 2019 2020 2019 (in thousands) (in thousands) Cost of sales $ 88 $ 76 $ 167 $ 158 Sales and marketing 134 146 293 304 General and administrative 495 418 951 837 Research and development 86 54 171 141 Total stock-based compensation $ 803 $ 694 $ 1,582 $ 1,440 During the six June 30, 2020, six June 30, 2020, three June 30, 2020 2019, |
Note 11 - Net Income Per Share
Note 11 - Net Income Per Share | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 1 1 . Net Income per Share The computation of basic and diluted net income per share was as follows: Three months ended Six months ended June 30, June 30, 2020 2019 2020 2019 (in thousands, except per share data) (in thousands, except per share data) Basic: Net income available for common stockholders $ 3,500 $ 4,624 $ 6,674 $ 8,137 Weighted average shares outstanding 20,180 19,680 20,174 19,660 Basic earnings per share $ 0.17 $ 0.23 $ 0.33 $ 0.41 Diluted: Net income available for common stockholders $ 3,500 $ 4,624 $ 6,674 $ 8,137 Weighted-average shares outstanding 20,180 19,680 20,174 19,660 Common stock equivalents, if dilutive 219 566 241 566 Shares used in computing diluted earnings per common share 20,399 20,246 20,415 20,226 Diluted earnings per share $ 0.17 $ 0.23 $ 0.33 $ 0.40 Shares excluded in computing diluted earnings per share as those shares would be anti-dilutive 713 531 651 537 |
Note 12 - Stockholders' Equity
Note 12 - Stockholders' Equity | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | 1 2 . Stockholders’ Equity Share Repurchase Program On February 14, 2019, February 13, 2020, February 14, 2021. may not Dividends In February 2011, Record Date Payment Date Per Share Amount Dividend Payment (in thousands) Fiscal Year 2020 March 3, 2020 March 19, 2020 $ 0.095 $ 1,917 May 20, 2020 June 4, 2020 $ 0.095 $ 1,917 Fiscal Year 2019 March 22, 2019 April 5, 2019 $ 0.085 $ 1,672 May 22, 2019 June 5, 2019 $ 0.085 $ 1,672 August 21, 2019 September 5, 2019 $ 0.085 $ 1,691 November 20, 2019 December 5, 2019 $ 0.085 $ 1,701 On July 21, 2020, September 10, 2020, August 27, 2020, |
Note 13 - Supplemental Cash Flo
Note 13 - Supplemental Cash Flow Information | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Cash Flow, Supplemental Disclosures [Text Block] | 1 3 . Sup plemental Cash Flow Information Six Months Ended June 30. 2020 2019 (in thousands) Cash paid for income taxes, net $ 2,328 $ 4,157 |
Note 14 - Fair Value Measuremen
Note 14 - Fair Value Measurements | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | 1 4 . Fair Value Measurements The fair value accounting guidance requires that assets and liabilities carried at fair value be classified and disclosed in one three • Level 1 • Level 2 1, not • Level 3 no Level 1 June 30, 2020 We had no Level 2 June 30, 2020. As discussed in Note 4, 3 2019, November 2019; first 12 24 On June 22, 2020, December 31, 2021, 2022 2023. three The following table provides a rollforward of the fair value of these liabilities, as determined by Level 3 Six months ended June 30, 2020 2019 (in thousands) Beginning balance $ 1,765 $ 72 Additions 406 - Payments - (59 ) Change in fair value included in earnings 57 (13 ) Ending balance $ 2,228 $ - |
Note 15 - Accumulated Other Com
Note 15 - Accumulated Other Comprehensive Loss | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Comprehensive Income (Loss) Note [Text Block] | 1 5 . Accumulated Other Comprehensive Loss Changes to our accumulated other comprehensive loss for the six June 30, 2020 2019 Six months ended June 30, 2020 2019 (in thousands) Beginning balance $ (4,007 ) $ (3,900 ) Other comprehensive income (loss) before reclassifications (152 ) 82 Amounts reclassified from accumulated other comprehensive loss - - Ending Balance $ (4,159 ) $ (3,818 ) |
Note 16 - Assets Held for Sale
Note 16 - Assets Held for Sale | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Assets Held for Sale [Text Block] | 1 6 . Asset s Held for Sale During the first 2020, A$2.7 September 2020, no A$1.9 June 30, 2020, |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2020 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | 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 10 X. not may six June 30, 2020 not December 31, 2019, 10 March 11, 2020. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the unaudited consolidated financial statements and accompanying notes to unaudited consolidated financial statements. Due to the COVID- 19 19 not August 6, 2020, 10 19. |
Consolidation, Policy [Policy Text Block] | 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. |
Revenue from Contract with Customer [Policy Text Block] | 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, as described below, and, during the periods presented in our consolidated financial statements, entered into consigned inventory arrangements with either hospitals or distributors on a limited basis. With the acquisition of the RestoreFlow allograft business, we also derive revenues from the processing and cryopreservation of human tissues for implantation in patients. These revenues are recognized when services have been provided and the tissue has been shipped to the customer, provided all other revenue recognition criteria discussed in the succeeding paragraph have been met. We recognize revenue under the provisions of ASU 2014 09, Revenue from Contracts with Customers (Topic 606 606 Step 1: Step 2: Step 3: Step 4: Step 5: 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). In instances in which shipping and handling activities are performed after a customer takes control of the goods (such as when title passes upon shipment from our dock), we have made the policy election allowed under Topic 606 not We generally reference customer purchase orders to determine the existence of a contract. Orders that are not one not 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 Vascular has a present right to receive payment for the goods. 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 June 30, Six months ended June 30, 2020 2019 2020 2019 ($ in thousands) ($ in thousands) Americas $ 14,942 $ 17,511 $ 33,278 $ 33,886 Europe, Middle East and Africa 7,950 10,014 18,300 20,027 Asia/Pacific Rim 1,959 1,958 3,824 4,049 Total $ 24,851 $ 29,483 $ 55,402 $ 57,962 We do not no not no Customers returning products may 18 twelve 30 not not |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent Accounting Pronouncements In December 2019, 2019 12 740 740 740. January 1, 2021, not |
Note 1 - Organization and Bas_2
Note 1 - Organization and Basis for Presentation (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | Three months ended June 30, Six months ended June 30, 2020 2019 2020 2019 ($ in thousands) ($ in thousands) Americas $ 14,942 $ 17,511 $ 33,278 $ 33,886 Europe, Middle East and Africa 7,950 10,014 18,300 20,027 Asia/Pacific Rim 1,959 1,958 3,824 4,049 Total $ 24,851 $ 29,483 $ 55,402 $ 57,962 |
Note 2 - Income Tax Expense (Ta
Note 2 - Income Tax Expense (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Notes Tables | |
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block] | Six months ended (in thousands) Unrecognized tax benefits as of December 31, 2019 $ 848 Additions for tax positions of current year - Additions for tax positions of prior years (4 ) Reductions for settlements with taxing authorities (59 ) Reductions for lapses of the applicable statutes of limitations - Unrecognized tax benefits as of June 30, 2020 $ 785 |
Summary of Income Tax Examinations [Table Text Block] | United States 2016 and forward Foreign 2013 and forward |
Note 3 - Inventories and Othe_2
Note 3 - Inventories and Other Deferred Costs (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | June 30, 2020 December 31, 2019 (in thousands) Raw materials $ 5,354 $ 5,359 Work-in-process 5,510 6,238 Finished products 29,608 23,032 Other deferred costs 5,868 4,898 Total inventory and other deferred costs $ 46,340 $ 39,527 |
Note 4 - Acquisitions and Div_2
Note 4 - Acquisitions and Divestitures (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Notes Tables | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | Allocated Fair Value (in thousands) Inventory $ 3,859 Accounts receivable 1,789 Equipment and supplies 1,140 Accounts payable and other (53 ) Intangible assets 40,001 Goodwill 26,170 Purchase price $ 72,906 Allocated Fair Value (in thousands) Inventory and other $ 1,343 Intangible assets 8,725 Goodwill 7,344 Purchase price $ 17,412 Allocated Fair Value (in thousands) Inventory $ 276 Equipment and supplies 70 Intangible assets 4,844 Goodwill 2,748 Purchase price $ 7,938 Allocated Fair Value (in thousands) Inventory € 2,419 Land and building 750 Equipment and supplies 94 Intangible assets 623 Bargain purchase gain (1,946 ) Purchase price € 1,940 Allocated Fair Value (in thousands) Inventory $ 739 Equipment and supplies 416 Intangible assets 6,527 Goodwill 6,361 Purchase price $ 14,043 |
Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination [Table Text Block] | Allocated Estimated Fair Value Useful Life (in thousands) (in years) Customer relationships $ 21,255 15.0 Intellectual property 16,449 10.0 Non-compete agreement 104 5.0 Tradenames 2,193 10.0 Total intangible assets $ 40,001 Weighted Allocated Average Fair Value Useful Life (in thousands) (in years) Customer relationships $ 5,562 12.0 Intellectual property 2,335 8.0 Non-compete agreement 361 5.0 Tradenames 467 8.0 Total intangible assets $ 8,725 Weighted Allocated Average Fair Value Useful Life (in thousands) (in years) Customer relationships $ 3,945 13.0 Intellectual property 563 7.0 Non-compete agreement 233 5.0 Tradenames 103 7.0 Total intangible assets $ 4,844 Allocated Fair Value Weighted Average Useful Life (in thousands) (in years) Customer relationships € 250 16.0 Intellectual property 237 5.0 Non-compete agreement 46 5.0 Tradenames 90 5.0 Total intangible assets € 623 Weighted Allocated Average Fair Value Useful Life (in thousands) (in years) Customer relationships $ 4,475 16.0 Intellectual property 1,316 7.0 Non-compete agreement 530 5.0 Tradenames 206 7.0 Total intangible assets $ 6,527 |
Business Acquisition, Pro Forma Information [Table Text Block] | Unaudited Pro Forma Financial Information Three months ended June 30, Six months ended June 30, 2020 2019 2020 2019 ($ in thousands) ($ in thousands) Net sales $ 28,688 $ 33,319 $ 63,486 $ 65,109 Net income 2,930 4,012 5,568 6,815 Net income per share Basic $ 0.15 $ 0.20 $ 0.28 $ 0.35 Diluted $ 0.14 $ 0.20 $ 0.27 $ 0.34 |
Disposal Groups, Including Discontinued Operations [Table Text Block] | Allocated Fair Value (in thousands) Inventory $ 308 Deferred revenue - transition services agreement 1,081 Goodwill 135 Gain on divestiture 5,876 Consideration received $ 7,400 |
Note 5 - Goodwill and Other I_2
Note 5 - Goodwill and Other Intangibles (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Notes Tables | |
Schedule of Goodwill [Table Text Block] | (in thousands) Balance at December 31, 2019 $ 39,951 Additions for acquisitions 26,170 Effects of currency exchange 30 Balance at June 30, 2020 $ 66,151 |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | June 30, 2020 December 31, 2019 Gross Net Gross Net Carrying Accumulated Carrying Carrying Accumulated Carrying Value Amortization Value Value Amortization Value (in thousands) Product technology and intellectual property $ 29,951 $ 6,457 $ 23,494 $ 13,502 $ 5,722 $ 7,780 Trademarks, tradenames and licenses 4,000 800 3,200 1,807 702 1,105 Customer relationships 39,470 4,047 35,423 18,215 3,364 14,851 Other intangible assets 1,767 719 1,048 1,725 568 1,157 Total identifiable intangible assets $ 75,188 $ 12,023 $ 63,165 $ 35,249 $ 10,356 $ 24,893 |
Finite-lived Intangible Assets Amortization Expense [Table Text Block] | Three months ended June 30, Six months ended June 30, 2020 2019 2020 2019 (in thousands) (in thousands) Amortization expense $ 894 $ 556 $ 1,728 $ 1,111 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | Year ended December 31, 2020 2021 2022 2023 2024 2025 (in thousands) Amortization expense $ 3,146 $ 6,258 $ 6,053 $ 5,979 $ 5,783 $ 5,545 |
Note 6 - Revolving Line of Cr_2
Note 6 - Revolving Line of Credit and Long-term Debt (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Notes Tables | |
Schedule of Debt [Table Text Block] | June 30, 2020 (in thousands) Five $1,010 $ 38,990 Less current portion (2,000 ) $ 36,990 |
Note 7 - Leases (Tables)
Note 7 - Leases (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Notes Tables | |
Lease, Cost [Table Text Block] | Three months ended June 30, Six months ended June 30, 2020 2019 2020 2019 (in thousands) (in thousands) (in thousands) (in thousands) Lease cost Operating lease cost $ 481 $ 432 $ 955 $ 854 Short-term lease cost 44 63 57 131 Total lease cost $ 525 $ 495 $ 1,012 $ 985 Other information Cash paid for amounts included in the measurement of operating lease liabilities $ 580 $ 445 $ 1,171 $ 959 Right-of-use assets obtained in exchange for new operating leae liabilities $ 2,332 $ 594 $ 2,481 $ 810 Weighted average remaining lease term - operating leases (in years) 8.8 4.1 8.8 4.1 Weighted average discount rate - operating leases 5.25 % 5.25 % 5.25 % 5.25 % |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | Remainder of 2020 $ 1,367 Year ending December 31, 2021 2,654 2022 2,279 2023 1,978 2024 1,865 Thereafter 11,827 Adjustment to net present value as of June 30, 2020 (4,657 ) Minimum noncancelable lease liability $ 17,313 |
Note 8 - Accrued Expenses and_2
Note 8 - Accrued Expenses and Other Long-term Liabilities (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Notes Tables | |
Schedule of Accrued Liabilities [Table Text Block] | June 30, 2020 December 31, 2019 (in thousands) Compensation and related taxes $ 5,350 $ 8,550 Income and other taxes 1,069 1,003 Professional fees 655 40 Other 4,762 4,421 Total $ 11,836 $ 14,014 |
Other Noncurrent Liabilities [Table Text Block] | June 30, 2020 December 31, 2019 (in thousands) Aquisition-related liabilities $ 4,201 $ 3,268 Income taxes 710 781 Other 105 166 Total $ 5,016 $ 4,215 |
Note 9 - Segment and Enterpri_2
Note 9 - Segment and Enterprise-wide Disclosures (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Notes Tables | |
Schedule of Revenue from External Customers Attributed to Foreign Countries by Geographic Area [Table Text Block] | Three months ended June 30, Six months ended June 30, 2020 2019 2020 2019 (in thousands) (in thousands) United States $ 13,535 $ 16,006 $ 30,535 $ 30,764 Germany 2,699 3,192 5,993 6,272 Other countries 8,617 10,285 18,874 20,926 Net Sales $ 24,851 $ 29,483 $ 55,402 $ 57,962 |
Note 10 - Share-based Compens_2
Note 10 - Share-based Compensation (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Notes Tables | |
Share-based Payment Arrangement, Cost by Plan [Table Text Block] | Three months ended June 30, Six months ended June 30, 2020 2019 2020 2019 (in thousands) (in thousands) Stock option awards $ 495 $ 432 $ 995 $ 879 Restricted stock units 308 262 587 561 Total share-based compensation $ 803 $ 694 $ 1,582 $ 1,440 |
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block] | Three months ended Six months ended June 30, June 30, 2020 2019 2020 2019 (in thousands) (in thousands) Cost of sales $ 88 $ 76 $ 167 $ 158 Sales and marketing 134 146 293 304 General and administrative 495 418 951 837 Research and development 86 54 171 141 Total stock-based compensation $ 803 $ 694 $ 1,582 $ 1,440 |
Note 11 - Net Income Per Share
Note 11 - Net Income Per Share (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three months ended Six months ended June 30, June 30, 2020 2019 2020 2019 (in thousands, except per share data) (in thousands, except per share data) Basic: Net income available for common stockholders $ 3,500 $ 4,624 $ 6,674 $ 8,137 Weighted average shares outstanding 20,180 19,680 20,174 19,660 Basic earnings per share $ 0.17 $ 0.23 $ 0.33 $ 0.41 Diluted: Net income available for common stockholders $ 3,500 $ 4,624 $ 6,674 $ 8,137 Weighted-average shares outstanding 20,180 19,680 20,174 19,660 Common stock equivalents, if dilutive 219 566 241 566 Shares used in computing diluted earnings per common share 20,399 20,246 20,415 20,226 Diluted earnings per share $ 0.17 $ 0.23 $ 0.33 $ 0.40 Shares excluded in computing diluted earnings per share as those shares would be anti-dilutive 713 531 651 537 |
Note 12 - Stockholders' Equity
Note 12 - Stockholders' Equity (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Notes Tables | |
Schedule of Dividends Payable [Table Text Block] | Record Date Payment Date Per Share Amount Dividend Payment (in thousands) Fiscal Year 2020 March 3, 2020 March 19, 2020 $ 0.095 $ 1,917 May 20, 2020 June 4, 2020 $ 0.095 $ 1,917 Fiscal Year 2019 March 22, 2019 April 5, 2019 $ 0.085 $ 1,672 May 22, 2019 June 5, 2019 $ 0.085 $ 1,672 August 21, 2019 September 5, 2019 $ 0.085 $ 1,691 November 20, 2019 December 5, 2019 $ 0.085 $ 1,701 |
Note 13 - Supplemental Cash F_2
Note 13 - Supplemental Cash Flow Information (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Notes Tables | |
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block] | Six Months Ended June 30. 2020 2019 (in thousands) Cash paid for income taxes, net $ 2,328 $ 4,157 |
Note 14 - Fair Value Measurem_2
Note 14 - Fair Value Measurements (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Notes Tables | |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | Six months ended June 30, 2020 2019 (in thousands) Beginning balance $ 1,765 $ 72 Additions 406 - Payments - (59 ) Change in fair value included in earnings 57 (13 ) Ending balance $ 2,228 $ - |
Note 15 - Accumulated Other C_2
Note 15 - Accumulated Other Comprehensive Loss (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Notes Tables | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Six months ended June 30, 2020 2019 (in thousands) Beginning balance $ (4,007 ) $ (3,900 ) Other comprehensive income (loss) before reclassifications (152 ) 82 Amounts reclassified from accumulated other comprehensive loss - - Ending Balance $ (4,159 ) $ (3,818 ) |
Note 1 - Organization and Bas_3
Note 1 - Organization and Basis for Presentation (Details Textual) | 6 Months Ended |
Jun. 30, 2020 | |
Number of Operating Segments | 1 |
Minimum [Member] | |
Period of Payments Received from Customers (Day) | 30 days |
Maximum [Member] | |
Period of Payments Received from Customers (Day) | 60 days |
Note 1 - Organization and Bas_4
Note 1 - Organization and Basis for Presentation - Disaggregation of Revenue by Major Geographic Area (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Revenue | $ 24,851 | $ 29,483 | $ 55,402 | $ 57,962 |
Americas [Member] | ||||
Revenue | 14,942 | 17,511 | 33,278 | 33,886 |
EMEA [Member] | ||||
Revenue | 7,950 | 10,014 | 18,300 | 20,027 |
Asia Pacific [Member] | ||||
Revenue | $ 1,959 | $ 1,958 | $ 3,824 | $ 4,049 |
Note 2 - Income Tax Expense (De
Note 2 - Income Tax Expense (Details Textual) - USD ($) | Jun. 30, 2020 | Dec. 31, 2019 |
Unrecognized Tax Benefits, Ending Balance | $ 785,000 | $ 848,000 |
Note 2 - Income Tax Expense - R
Note 2 - Income Tax Expense - Reconciliation of Beginning and Ending Amount of Unrecognized Tax Benefits (Details) | 6 Months Ended |
Jun. 30, 2020USD ($) | |
Unrecognized tax benefits as of December 31, 2019 | $ 848,000 |
Additions for tax positions of current year | 0 |
Additions for tax positions of prior years | (4,000) |
Reductions for settlements with taxing authorities | (59,000) |
Reductions for lapses of the applicable statutes of limitations | 0 |
Unrecognized tax benefits as of June 30, 2020 | $ 785,000 |
Note 2 - Income Tax Expense - S
Note 2 - Income Tax Expense - Summary of Tax Years Subject to Examination in Most Significant Tax Jurisdictions (Details) | 6 Months Ended |
Jun. 30, 2020 | |
Domestic Tax Authority [Member] | |
Income tax year under examination | 2016 2017 2018 2019 2020 |
Foreign Tax Authority [Member] | |
Income tax year under examination | 2013 2014 2015 2016 2017 2018 2019 2020 |
Note 3 - Inventories and Othe_3
Note 3 - Inventories and Other Deferred Costs (Details Textual) - USD ($) $ in Millions | Jun. 30, 2020 | Dec. 31, 2019 |
Other Inventory, Materials, Supplies and Merchandise under Consignment, Gross | $ 1.9 | $ 1.9 |
Note 3 - Inventories and Othe_4
Note 3 - Inventories and Other Deferred Costs - Summary of Inventories and Other Deferred Costs (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
Raw materials | $ 5,354 | $ 5,359 |
Work-in-process | 5,510 | 6,238 |
Finished products | 29,608 | 23,032 |
Other deferred costs | 5,868 | 4,898 |
Total inventory and other deferred costs | $ 46,340 | $ 39,527 |
Note 4 - Acquisitions and Div_3
Note 4 - Acquisitions and Divestitures (Details Textual) € in Millions | Jun. 22, 2020USD ($) | Oct. 11, 2019USD ($) | Jul. 12, 2019USD ($) | Oct. 22, 2018USD ($) | Oct. 22, 2018EUR (€) | Sep. 20, 2018USD ($) | Apr. 05, 2018USD ($) | Jun. 30, 2020USD ($) | Jun. 30, 2018USD ($) | Oct. 22, 2018EUR (€) |
Reddick Divestiture [Member] | ||||||||||
Proceeds from Sale of Productive Assets, Total | $ 7,400,000 | |||||||||
Long-term Purchase Commitment, Period (Year) | 2 years | |||||||||
Gain (Loss) on Disposition of Assets for Financial Service Operations, Total | $ 5,900,000 | |||||||||
Artegraft Inc [Member] | ||||||||||
Payments to Acquire Businesses, Gross | $ 72,500,000 | |||||||||
Escrow Deposit Disbursements Related to Property Acquisition | $ 7,500,000 | |||||||||
Business Acquisition, Purchase Price Allocation, Goodwill Expected Tax Deductible, Period (Year) | 15 years | |||||||||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life (Year) | 12 years 7 months 6 days | |||||||||
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual | $ 200,000 | |||||||||
Artegraft Inc [Member] | First Earn-out [Member] | ||||||||||
Business Combination, Contingent Consideration, Liability, Total | $ 5,800,000 | |||||||||
Business Combination, Contingent Consideration, Unit Sales | 20,000 | |||||||||
Artegraft Inc [Member] | Second Earn-out [Member] | ||||||||||
Business Combination, Contingent Consideration, Liability, Total | $ 5,800,000 | |||||||||
Business Combination, Contingent Consideration, Unit Sales | 24,000 | |||||||||
Artegraft Inc [Member] | Third Earn-out [Member] | ||||||||||
Business Combination, Contingent Consideration, Liability, Total | $ 5,800,000 | |||||||||
Business Combination, Contingent Consideration, Unit Sales | 28,800 | |||||||||
Artegraft Inc [Member] | Catch-Up Payment [Member] | ||||||||||
Business Combination, Contingent Consideration, Liability, Total | $ 400,000 | |||||||||
Business Combination, Contingent Consideration, Minimum Unit Sales in Three Years | 58,240 | |||||||||
Business Combination, Contingent Consideration, Minimum Unit Sales in Three Years, Percent of Combined Individual Year Targets | 80.00% | |||||||||
Business Combination, Contingent Consideration, Before Multiplied by Fraction | $ 17,500,000 | |||||||||
Business Combination, Contingent Consideration, Denominator, Less Amount Paid | 72,800 | |||||||||
Artegraft Inc [Member] | Maximum [Member] | ||||||||||
Business Combination, Consideration Transferred, Total | $ 90,000,000 | |||||||||
CardioCel and VascuCel Biologic Patches [Member] | ||||||||||
Payments to Acquire Businesses, Gross | $ 14,200,000 | |||||||||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life (Year) | 10 years 4 months 24 days | |||||||||
CardioCel and VascuCel Biologic Patches [Member] | Technology Licenses [Member] | ||||||||||
Business Combination, Consideration Transferred, Total | $ 8,000,000 | |||||||||
CardioCel and VascuCel Biologic Patches [Member] | Achieving Audited Financial Statements of Acquired Business [Member] | ||||||||||
Payments to Acquire Businesses, Gross | 300,000 | |||||||||
CardioCel and VascuCel Biologic Patches [Member] | First Holdback [Member] | ||||||||||
Business Combination, Contingent Consideration, Liability, Total | 700,000 | |||||||||
CardioCel and VascuCel Biologic Patches [Member] | Second Holdback [Member] | ||||||||||
Business Combination, Contingent Consideration, Liability, Total | 700,000 | |||||||||
CardioCel and VascuCel Biologic Patches [Member] | Third Holdback [Member] | ||||||||||
Business Combination, Contingent Consideration, Liability, Total | 2,000,000 | |||||||||
CardioCel and VascuCel Biologic Patches [Member] | Revenues Exceeding Twenty Million in the First Twelve Month Period After Closing Date [Member] | ||||||||||
Business Combination, Contingent Consideration, Liability, Total | 2,500,000 | |||||||||
CardioCel and VascuCel Biologic Patches [Member] | Revenues Exceeding Fifteen Million in the First Twelve Month Period After Closing Date [Member] | ||||||||||
Business Combination, Contingent Consideration, Liability, Total | 1,200,000 | |||||||||
CardioCel and VascuCel Biologic Patches [Member] | Revenues Exceeding Thirty Million in the Second Twelve Month Period After Closing Date [Member] | ||||||||||
Business Combination, Contingent Consideration, Liability, Total | 2,500,000 | |||||||||
CardioCel and VascuCel Biologic Patches [Member] | Revenues Exceeding Twenty-Two and a Half Million in the First Twelve Month Period After Closing Date [Member] | ||||||||||
Business Combination, Contingent Consideration, Liability, Total | 1,200,000 | |||||||||
CardioCel and VascuCel Biologic Patches [Member] | Extension of Product Shelf Life from 36 Months to 60 Months in the First Anniversary of Closing Date [Member] | ||||||||||
Business Combination, Contingent Consideration, Liability, Total | 500,000 | |||||||||
CardioCel and VascuCel Biologic Patches [Member] | Maximum [Member] | Biological Patch Business Assets [Member] | ||||||||||
Business Combination, Consideration Transferred, Total | $ 15,300,000 | |||||||||
Tru-Incise Valve Cutter [Member] | ||||||||||
Business Combination, Consideration Transferred, Total | $ 8,000,000 | |||||||||
Payments to Acquire Businesses, Gross | $ 6,800,000 | |||||||||
Business Acquisition, Purchase Price Allocation, Goodwill Expected Tax Deductible, Period (Year) | 15 years | |||||||||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life (Year) | 11 years 9 months 18 days | |||||||||
Business Combination, Deferred Purchase Consideration, Installment Payment | $ 400,000 | |||||||||
Business Combination, Deferred Purchase Consideration | 1,200,000 | |||||||||
Acquisition Date Fair Value | $ 1,100,000 | |||||||||
Business Combination ,Fair Value Inputs, Discount Rate | 4.19% | |||||||||
Cardial [Member] | ||||||||||
Business Combination, Consideration Transferred, Total | $ 2,300,000 | € 2 | ||||||||
Payments to Acquire Businesses, Gross | $ 1,300,000 | € 1.1 | ||||||||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life (Year) | 9 years 4 months 24 days | 9 years 4 months 24 days | ||||||||
Business Combination, Deferred Purchase Consideration | $ 400,000 | € 0.4 | ||||||||
Business Combination, Consideration Transferred, Liabilities Incurred | 500,000 | € 0.5 | ||||||||
Deferred Tax Assets, Business Combinations | 600,000 | € 0.5 | ||||||||
Business Combination, Bargain Purchase, Gain Recognized, Amount | $ 1,600,000 | € 1.4 | ||||||||
Applied Medical [Member] | ||||||||||
Business Combination, Consideration Transferred, Total | $ 14,200,000 | |||||||||
Business Acquisition, Purchase Price Allocation, Goodwill Expected Tax Deductible, Period (Year) | 15 years | |||||||||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life (Year) | 13 years | |||||||||
Acquisition Date Fair Value | $ 3,000,000 | |||||||||
Business Combination ,Fair Value Inputs, Discount Rate | 3.75% | |||||||||
Business Combination Recognized Identifiable Assets Acquired and Liabilities Assumed Current Assets Deferred Costs | $ 3,200,000 | |||||||||
Applied Medical [Member] | Closing Date [Member] | ||||||||||
Business Combination, Consideration Transferred, Total | 11,000,000 | |||||||||
Applied Medical [Member] | 12 Months Following the Closing Date [Member] | ||||||||||
Business Combination, Consideration Transferred, Total | 2,000,000 | |||||||||
Applied Medical [Member] | 24 Months Following the Closing Date [Member] | ||||||||||
Business Combination, Consideration Transferred, Total | $ 1,200,000 | |||||||||
Balloon Supply Agreement [Member] | Reddick Divestiture [Member] | ||||||||||
Long-term Purchase Commitment, Period (Year) | 6 years |
Note 4 - Acquisitions and Div_4
Note 4 - Acquisitions and Divestitures - Assets Acquired and Liabilities Assumed (Details) € in Thousands, $ in Thousands | Jun. 30, 2020USD ($) | Jun. 22, 2020USD ($) | Dec. 31, 2019USD ($) | Oct. 11, 2019USD ($) | Jul. 12, 2019USD ($) | Oct. 22, 2018EUR (€) | Sep. 20, 2018USD ($) |
Goodwill | $ 66,151 | $ 39,951 | |||||
Artegraft Inc [Member] | |||||||
Inventory | $ 3,859 | ||||||
Accounts receivable | 1,789 | ||||||
Equipment and supplies | 1,140 | ||||||
Accounts payable and other | 53 | ||||||
Intangible assets | 40,001 | ||||||
Goodwill | 26,170 | ||||||
Purchase price | $ 72,906 | ||||||
CardioCel and VascuCel Biologic Patches [Member] | |||||||
Intangible assets | $ 8,725 | ||||||
Goodwill | 7,344 | ||||||
Purchase price | 17,412 | ||||||
Inventory and other | $ 1,343 | ||||||
Tru-Incise Valve Cutter [Member] | |||||||
Inventory | $ 276 | ||||||
Equipment and supplies | 70 | ||||||
Intangible assets | 4,844 | ||||||
Goodwill | 2,748 | ||||||
Purchase price | $ 7,938 | ||||||
Cardial [Member] | |||||||
Inventory | € | € 2,419 | ||||||
Equipment and supplies | € | 94 | ||||||
Intangible assets | € | 623 | ||||||
Purchase price | € | 1,940 | ||||||
Land and building | € | 750 | ||||||
Bargain purchase gain | € | € (1,946) | ||||||
Applied Medical [Member] | |||||||
Inventory | $ 739 | ||||||
Equipment and supplies | 416 | ||||||
Intangible assets | 6,527 | ||||||
Goodwill | 6,361 | ||||||
Purchase price | $ 14,043 |
Note 4 - Acquisitions and Div_5
Note 4 - Acquisitions and Divestitures - Acquired Intangible Assets and Related Estimated Useful Lives (Details) € in Thousands, $ in Thousands | Jun. 22, 2020USD ($) | Oct. 11, 2019USD ($) | Jul. 12, 2019USD ($) | Oct. 22, 2018EUR (€) | Sep. 20, 2018USD ($) |
Artegraft Inc [Member] | |||||
Allocated Fair Value | $ 40,001 | ||||
Weighted Average Useful Life (Year) | 12 years 7 months 6 days | ||||
Artegraft Inc [Member] | Customer Relationships [Member] | |||||
Allocated Fair Value | $ 21,255 | ||||
Weighted Average Useful Life (Year) | 15 years | ||||
Artegraft Inc [Member] | Intellectual Property [Member] | |||||
Allocated Fair Value | $ 16,449 | ||||
Weighted Average Useful Life (Year) | 10 years | ||||
Artegraft Inc [Member] | Noncompete Agreements [Member] | |||||
Allocated Fair Value | $ 104 | ||||
Weighted Average Useful Life (Year) | 5 years | ||||
Artegraft Inc [Member] | Trade Names [Member] | |||||
Allocated Fair Value | $ 2,193 | ||||
Weighted Average Useful Life (Year) | 10 years | ||||
Cardial [Member] | |||||
Allocated Fair Value | € | € 623 | ||||
Weighted Average Useful Life (Year) | 9 years 4 months 24 days | ||||
Cardial [Member] | Customer Relationships [Member] | |||||
Allocated Fair Value | € | € 250 | ||||
Weighted Average Useful Life (Year) | 16 years | ||||
Cardial [Member] | Intellectual Property [Member] | |||||
Allocated Fair Value | € | € 237 | ||||
Weighted Average Useful Life (Year) | 5 years | ||||
Cardial [Member] | Noncompete Agreements [Member] | |||||
Allocated Fair Value | € | € 46 | ||||
Weighted Average Useful Life (Year) | 5 years | ||||
Cardial [Member] | Trade Names [Member] | |||||
Allocated Fair Value | € | € 90 | ||||
Weighted Average Useful Life (Year) | 5 years | ||||
CardioCel and VascuCel Biologic Patches [Member] | |||||
Allocated Fair Value | $ 8,725 | ||||
Weighted Average Useful Life (Year) | 10 years 4 months 24 days | ||||
CardioCel and VascuCel Biologic Patches [Member] | Customer Relationships [Member] | |||||
Allocated Fair Value | $ 5,562 | ||||
Weighted Average Useful Life (Year) | 12 years | ||||
CardioCel and VascuCel Biologic Patches [Member] | Intellectual Property [Member] | |||||
Allocated Fair Value | $ 2,335 | ||||
Weighted Average Useful Life (Year) | 8 years | ||||
CardioCel and VascuCel Biologic Patches [Member] | Noncompete Agreements [Member] | |||||
Allocated Fair Value | $ 361 | ||||
Weighted Average Useful Life (Year) | 5 years | ||||
CardioCel and VascuCel Biologic Patches [Member] | Trade Names [Member] | |||||
Allocated Fair Value | $ 467 | ||||
Weighted Average Useful Life (Year) | 8 years | ||||
Tru-Incise Valve Cutter [Member] | |||||
Allocated Fair Value | $ 4,844 | ||||
Weighted Average Useful Life (Year) | 11 years 9 months 18 days | ||||
Tru-Incise Valve Cutter [Member] | Customer Relationships [Member] | |||||
Allocated Fair Value | $ 3,945 | ||||
Weighted Average Useful Life (Year) | 13 years | ||||
Tru-Incise Valve Cutter [Member] | Intellectual Property [Member] | |||||
Allocated Fair Value | $ 563 | ||||
Weighted Average Useful Life (Year) | 7 years | ||||
Tru-Incise Valve Cutter [Member] | Noncompete Agreements [Member] | |||||
Allocated Fair Value | $ 233 | ||||
Weighted Average Useful Life (Year) | 5 years | ||||
Tru-Incise Valve Cutter [Member] | Trade Names [Member] | |||||
Allocated Fair Value | $ 103 | ||||
Weighted Average Useful Life (Year) | 7 years | ||||
Applied Medical [Member] | |||||
Allocated Fair Value | $ 6,527 | ||||
Weighted Average Useful Life (Year) | 13 years | ||||
Applied Medical [Member] | Customer Relationships [Member] | |||||
Allocated Fair Value | $ 4,475 | ||||
Weighted Average Useful Life (Year) | 16 years | ||||
Applied Medical [Member] | Intellectual Property [Member] | |||||
Allocated Fair Value | $ 1,316 | ||||
Weighted Average Useful Life (Year) | 7 years | ||||
Applied Medical [Member] | Noncompete Agreements [Member] | |||||
Allocated Fair Value | $ 530 | ||||
Weighted Average Useful Life (Year) | 5 years | ||||
Applied Medical [Member] | Trade Names [Member] | |||||
Allocated Fair Value | $ 206 | ||||
Weighted Average Useful Life (Year) | 7 years |
Note 4 - Acquisitions and Div_6
Note 4 - Acquisitions and Divestitures - Pro Forma Financial Information (Details) - Artegraft Inc [Member] - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Net sales | $ 28,688 | $ 33,319 | $ 63,486 | $ 65,109 |
Net income | $ 2,930 | $ 4,012 | $ 5,568 | $ 6,815 |
Basic (in dollars per share) | $ 0.15 | $ 0.20 | $ 0.28 | $ 0.35 |
Diluted (in dollars per share) | $ 0.14 | $ 0.20 | $ 0.27 | $ 0.34 |
Note 4 - Acquisitions and Div_7
Note 4 - Acquisitions and Divestitures - Asset Purchase Agreement (Details) - Reddick Divestiture [Member] $ in Thousands | Apr. 05, 2018USD ($) |
Inventory | $ 308 |
Deferred revenue - transition services agreement | 1,081 |
Goodwill | 135 |
Gain on divestiture | 5,876 |
Consideration received | $ 7,400 |
Note 5 - Goodwill and Other I_3
Note 5 - Goodwill and Other Intangibles (Details Textual) | 6 Months Ended |
Jun. 30, 2020 | |
Minimum [Member] | |
Finite-Lived Intangible Asset, Useful Life (Year) | 2 years |
Maximum [Member] | |
Finite-Lived Intangible Asset, Useful Life (Year) | 16 years |
Weighted Average [Member] | |
Finite-Lived Intangible Asset, Useful Life (Year) | 12 years 9 months 18 days |
Note 5 - Goodwill and Other I_4
Note 5 - Goodwill and Other Intangibles - Schedule of Goodwill (Details) $ in Thousands | 6 Months Ended |
Jun. 30, 2020USD ($) | |
Balance at December 31, 2019 | $ 39,951 |
Additions for acquisitions | 26,170 |
Effects of currency exchange | 30 |
Balance at June 30, 2020 | $ 66,151 |
Note 5 - Goodwill and Other I_5
Note 5 - Goodwill and Other Intangibles - Components of Identifiable Intangible Assets (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
Gross carrying value | $ 75,188 | $ 35,249 |
Accumulated amortization | 12,023 | 10,356 |
Net carrying value | 63,165 | 24,893 |
Product Technology and Intellectual Property [Member] | ||
Gross carrying value | 29,951 | 13,502 |
Accumulated amortization | 6,457 | 5,722 |
Net carrying value | 23,494 | 7,780 |
Trademarks, Tradenames and Licenses [Member] | ||
Gross carrying value | 4,000 | 1,807 |
Accumulated amortization | 800 | 702 |
Net carrying value | 3,200 | 1,105 |
Customer Relationships [Member] | ||
Gross carrying value | 39,470 | 18,215 |
Accumulated amortization | 4,047 | 3,364 |
Net carrying value | 35,423 | 14,851 |
Other Intangible Assets [Member] | ||
Gross carrying value | 1,767 | 1,725 |
Accumulated amortization | 719 | 568 |
Net carrying value | $ 1,048 | $ 1,157 |
Note 5 - Goodwill and Other I_6
Note 5 - Goodwill and Other Intangibles - Amortization Expense Included in General and Administrative Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Amortization expense | $ 894 | $ 556 | $ 1,728 | $ 1,111 |
Note 5 - Goodwill and Other I_7
Note 5 - Goodwill and Other Intangibles - Estimated Amortization Expense for Each of Five Succeeding Fiscal Years (Details) $ in Thousands | Jun. 30, 2020USD ($) |
2020 | $ 3,146 |
2021 | 6,258 |
2022 | 6,053 |
2023 | 5,979 |
2024 | 5,783 |
2025 | $ 5,545 |
Note 6 - Revolving Line of Cr_3
Note 6 - Revolving Line of Credit and Long-term Debt (Details Textual) - Senior Secured Credit Facility [Member] - USD ($) | Jun. 22, 2020 | Jun. 30, 2020 |
Debt Instrument, Face Amount | $ 65,000,000 | |
Debt Instrument, Interest Rate, Effective Percentage | 4.20% | |
Debt Issuance Costs, Net, Total | $ 1,800,000 | |
Debt Instrument, Collateral, Percentage of Stock of Domestic Subsidiaries | 100.00% | |
Interest Expense, Debt, Total | $ 66,000 | |
Term Loan [Member] | ||
Debt Instrument, Face Amount | $ 40,000,000 | |
Debt Instrument, Term (Year) | 5 years | 5 years |
Debt Instrument, Interest Rate, Effective Percentage | 3.50% | |
Term Loan [Member] | Minimum [Member] | ||
Debt Instrument, Periodic Payment, Total | $ 500,000 | |
Term Loan [Member] | Maximum [Member] | ||
Debt Instrument, Periodic Payment, Total | $ 1,000,000 | |
Term Loan [Member] | Base Rate [Member] | Minimum [Member] | ||
Debt Instrument, Basis Spread on Variable Rate | 1.25% | |
Term Loan [Member] | Base Rate [Member] | Maximum [Member] | ||
Debt Instrument, Basis Spread on Variable Rate | 1.75% | |
Term Loan [Member] | Eurodollar [Member] | Minimum [Member] | ||
Debt Instrument, Basis Spread on Variable Rate | 2.25% | |
Term Loan [Member] | Eurodollar [Member] | Maximum [Member] | ||
Debt Instrument, Basis Spread on Variable Rate | 2.75% | |
Term Loan [Member] | Fed Funds Effective Rate Overnight Index Swap Rate [Member] | ||
Debt Instrument, Basis Spread on Variable Rate | 0.50% | |
Revolving Credit Facility [Member] | ||
Line of Credit Facility, Maximum Borrowing Capacity | $ 25,000,000 | |
Debt Instrument, Term (Year) | 5 years | |
Revolving Credit Facility [Member] | Other Assets [Member] | ||
Debt Issuance Costs, Line of Credit Arrangements, Net, Total | $ 700,000 |
Note 6 - Revolving Line of Cr_4
Note 6 - Revolving Line of Credit and Long-term Debt - Five Year Term Loan (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
Less current portion | $ (2,000) | $ 0 |
Secured Long-term Debt, Noncurrent | 36,990 | |
Term Loan [Member] | Senior Secured Credit Facility [Member] | ||
Five-year term loan, net of unamortized debt issuance costs of $1,010 | 38,990 | |
Less current portion | (2,000) | |
Secured Long-term Debt, Noncurrent | $ 36,990 |
Note 6 - Revolving Line of Cr_5
Note 6 - Revolving Line of Credit and Long-term Debt - Five Year Term Loan (Details) (Parentheticals) - Term Loan [Member] - Senior Secured Credit Facility [Member] - USD ($) $ in Thousands | Jun. 22, 2020 | Jun. 30, 2020 |
Term (Year) | 5 years | 5 years |
Debt issuance costs | $ 1,010 |
Note 7 - Leases (Details Textua
Note 7 - Leases (Details Textual) $ in Thousands | Jun. 30, 2020USD ($)ft² |
Finance Lease, Right-of-Use Asset | $ | $ 0 |
Lessee, Operating Lease, Discount Rate | 5.25% |
Leased Automobiles [Member] | |
Lessee, Operating Lease, Term of Contract (Year) | 3 years |
GERMANY | |
Lessee, Operating Lease, Renewal Term (Year) | 5 years |
UNITED KINGDOM | |
Area of Real Estate Property (Square Foot) | 2,258 |
NEW JERSEY | |
Area of Real Estate Property (Square Foot) | 16,732 |
CANADA | |
Lessee, Operating Lease, Renewal Term (Year) | 5 years |
Principal Worldwide Executive, Distribution, and Manufacturing Operations Facilities [Member] | |
Area of Real Estate Property (Square Foot) | 109,354 |
International Operations Headquarter Facility [Member] | GERMANY | |
Area of Real Estate Property (Square Foot) | 16,470 |
Additional Area of Real Estate Property Added (Square Foot) | 3,630 |
Note 7 - Leases - Additional Le
Note 7 - Leases - Additional Lease Information (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Operating lease cost | $ 481 | $ 432 | $ 955 | $ 854 |
Short-term lease cost | 44 | 63 | 57 | 131 |
Total lease cost | 525 | 495 | 1,012 | 985 |
Cash paid for amounts included in the measurement of operating lease liabilities | 580 | 445 | 1,171 | 959 |
Right-of-use assets obtained in exchange for new operating leae liabilities | $ 2,332 | $ 594 | $ 2,481 | $ 810 |
Weighted average remaining lease term - operating leases (in years) (Year) | 8 years 9 months 18 days | 4 years 1 month 6 days | 8 years 9 months 18 days | 4 years 1 month 6 days |
Weighted average discount rate - operating leases | 5.25% | 5.25% | 5.25% | 5.25% |
Note 7 - Leases - Minimum Renta
Note 7 - Leases - Minimum Rental Commitments (Details) $ in Thousands | Jun. 30, 2020USD ($) |
Remainder of 2020 | $ 1,367 |
2021 | 2,654 |
2022 | 2,279 |
2023 | 1,978 |
2024 | 1,865 |
Thereafter | 11,827 |
Adjustment to net present value as of June 30, 2020 | (4,657) |
Minimum noncancelable lease liability | $ 17,313 |
Note 8 - Accrued Expenses and_3
Note 8 - Accrued Expenses and Other Long-term Liabilities - Accrued Expenses (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
Compensation and related taxes | $ 5,350 | $ 8,550 |
Income and other taxes | 1,069 | 1,003 |
Professional fees | 655 | 40 |
Other | 4,762 | 4,421 |
Total | $ 11,836 | $ 14,014 |
Note 8 - Accrued Expenses and_4
Note 8 - Accrued Expenses and Other Long-term Liabilities - Other Long-term Liabilities (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
Aquisition-related liabilities | $ 4,201 | $ 3,268 |
Income taxes | 710 | 781 |
Other | 105 | 166 |
Total | $ 5,016 | $ 4,215 |
Note 9 - Segment and Enterpri_3
Note 9 - Segment and Enterprise-wide Disclosures (Details Textual) | 6 Months Ended |
Jun. 30, 2020 | |
Number of Operating Segments | 1 |
Note 9 - Segment and Enterpri_4
Note 9 - Segment and Enterprise-wide Disclosures - Net Sales to Unaffiliated Customers by Geography (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Net Sales | $ 24,851 | $ 29,483 | $ 55,402 | $ 57,962 |
UNITED STATES | ||||
Net Sales | 13,535 | 16,006 | 30,535 | 30,764 |
GERMANY | ||||
Net Sales | 2,699 | 3,192 | 5,993 | 6,272 |
Other Countries [Member] | ||||
Net Sales | $ 8,617 | $ 10,285 | $ 18,874 | $ 20,926 |
Note 10 - Share-based Compens_3
Note 10 - Share-based Compensation (Details Textual) - shares | 3 Months Ended | 6 Months Ended | |
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | 20,000 | ||
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture, Total (in shares) | 26,000 | 141,000 | |
Restricted Stock Units (RSUs) [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 2,292 |
Note 10 - Share-based Compens_4
Note 10 - Share-based Compensation - Share-Based Compensation Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Stock-based compensation | $ 803 | $ 694 | $ 1,582 | $ 1,440 |
Share-based Payment Arrangement, Option [Member] | ||||
Stock-based compensation | 495 | 432 | 995 | 879 |
Restricted Stock Units (RSUs) [Member] | ||||
Stock-based compensation | $ 308 | $ 262 | $ 587 | $ 561 |
Note 10 - Share-based Compens_5
Note 10 - Share-based Compensation - Schedule of Stock-based Compensation (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Total stock-based compensation | $ 803 | $ 694 | $ 1,582 | $ 1,440 |
Cost of Sales [Member] | ||||
Total stock-based compensation | 88 | 76 | 167 | 158 |
Selling and Marketing Expense [Member] | ||||
Total stock-based compensation | 134 | 146 | 293 | 304 |
General and Administrative Expense [Member] | ||||
Total stock-based compensation | 495 | 418 | 951 | 837 |
Research and Development Expense [Member] | ||||
Total stock-based compensation | $ 86 | $ 54 | $ 171 | $ 141 |
Note 11 - Net Income per Shar_2
Note 11 - Net Income per Share - Computation of Basic and Diluted Net Income per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2020 | Mar. 31, 2020 | Jun. 30, 2019 | Mar. 31, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Basic: | ||||||
Net income | $ 3,500 | $ 3,174 | $ 4,624 | $ 3,513 | $ 6,674 | $ 8,137 |
Weighted average shares outstanding (in shares) | 20,180 | 19,680 | 20,174 | 19,660 | ||
Basic earnings per share (in dollars per share) | $ 0.17 | $ 0.23 | $ 0.33 | $ 0.41 | ||
Diluted: | ||||||
Net income | $ 3,500 | $ 3,174 | $ 4,624 | $ 3,513 | $ 6,674 | $ 8,137 |
Weighted average shares outstanding (in shares) | 20,180 | 19,680 | 20,174 | 19,660 | ||
Common stock equivalents, if dilutive (in shares) | 219 | 566 | 241 | 566 | ||
Shares used in computing diluted earnings per common share (in shares) | 20,399 | 20,246 | 20,415 | 20,226 | ||
Diluted earnings per share (in dollars per share) | $ 0.17 | $ 0.23 | $ 0.33 | $ 0.40 | ||
Shares excluded in computing diluted earnings per share as those shares would be anti-dilutive (in shares) | 713 | 531 | 651 | 537 |
Note 12 - Stockholders' Equit_2
Note 12 - Stockholders' Equity (Details Textual) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions | Jul. 21, 2020 | May 20, 2020 | Mar. 03, 2020 | Nov. 20, 2019 | Aug. 21, 2019 | May 22, 2019 | Mar. 22, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Feb. 14, 2019 |
Common Stock, Dividends, Per Share, Declared (in dollars per share) | $ 0.095 | $ 0.095 | $ 0.085 | $ 0.085 | $ 0.085 | $ 0.085 | $ 0.095 | $ 0.085 | $ 0.190 | $ 0.170 | |||
Dividends Payable, Date to be Paid | Jun. 4, 2020 | Mar. 19, 2020 | Dec. 5, 2019 | Sep. 5, 2019 | Jun. 5, 2019 | Apr. 5, 2019 | |||||||
Subsequent Event [Member] | |||||||||||||
Common Stock, Dividends, Per Share, Declared (in dollars per share) | $ 0.095 | ||||||||||||
Dividends Payable, Date to be Paid | Sep. 10, 2020 | ||||||||||||
Dividends Payable, Date of Record | Aug. 27, 2020 | ||||||||||||
Dividends Payable | $ 1.9 | ||||||||||||
Stock Repurchase Program [Member] | Common Stock [Member] | |||||||||||||
Stock Repurchase Program, Authorized Amount | $ 10 | ||||||||||||
Treasury Stock, Shares, Acquired (in shares) | 0 |
Note 12 - Stockholders' Equit_3
Note 12 - Stockholders' Equity - Dividend Activity (Details) - USD ($) $ / shares in Units, $ in Thousands | May 20, 2020 | Mar. 03, 2020 | Nov. 20, 2019 | Aug. 21, 2019 | May 22, 2019 | Mar. 22, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 |
Payment date | Jun. 4, 2020 | Mar. 19, 2020 | Dec. 5, 2019 | Sep. 5, 2019 | Jun. 5, 2019 | Apr. 5, 2019 | ||||
Per share amount (in dollars per share) | $ 0.095 | $ 0.095 | $ 0.085 | $ 0.085 | $ 0.085 | $ 0.085 | $ 0.095 | $ 0.085 | $ 0.190 | $ 0.170 |
Dividend payment | $ 1,917 | $ 1,917 | $ 1,701 | $ 1,691 | $ 1,672 | $ 1,672 |
Note 13 - Supplemental Cash F_3
Note 13 - Supplemental Cash Flow Information - Schedule of Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2020 | Jun. 30, 2019 | |
Cash paid for income taxes, net | $ 2,328 | $ 4,157 |
Note 14 - Fair Value Measurem_3
Note 14 - Fair Value Measurements (Details Textual) - USD ($) | Jun. 30, 2020 | Jun. 22, 2020 | Dec. 31, 2019 | Oct. 11, 2019 |
CardioCel and VascuCel Biologic Patches [Member] | ||||
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High | $ 7,800,000 | |||
CardioCel and VascuCel Biologic Patches [Member] | Audited Carve-Out Financial Statements of the Acquired Business [Member] | ||||
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High | 300,000 | |||
CardioCel and VascuCel Biologic Patches [Member] | Third Holdback [Member] | ||||
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High | 2,000,000 | |||
Business Combination, Contingent Consideration, Liability, Total | $ 2,000,000 | |||
CardioCel and VascuCel Biologic Patches [Member] | Extension of Product Shelf Life from 36 Months to 60 Months in the First Anniversary of Closing Date [Member] | ||||
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High | 500,000 | |||
Business Combination, Contingent Consideration, Liability, Total | 500,000 | |||
CardioCel and VascuCel Biologic Patches [Member] | Achievement of Specified Levels of Revenues [Member] | ||||
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High | $ 5,000,000 | |||
Artegraft Inc [Member] | ||||
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High | $ 17,500,000 | |||
Artegraft Inc [Member] | Catch-Up Payment [Member] | ||||
Business Combination, Contingent Consideration, Liability, Total | $ 400,000 | |||
Business Combination, Contingent Consideration, Minimum Unit Sales in Three Years, Percent of Combined Individual Year Targets | 80.00% | |||
Business Combination, Contingent Consideration, Before Multiplied by Fraction | $ 17,500,000 | |||
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member] | ||||
Assets, Fair Value Disclosure | $ 0 | |||
Fair Value, Inputs, Level 3 [Member] | CardioCel and VascuCel Biologic Patches [Member] | ||||
Business Combination, Contingent Consideration, Liability, Total | $ 2,300,000 |
Note 14 - Fair Value Measurem_4
Note 14 - Fair Value Measurements - Rollforward of the Fair Value as Determined by Level 3 (Details) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2020 | Jun. 30, 2019 | |
Beginning balance | $ 1,765 | $ 72 |
Additions | 406 | 0 |
Payments | 0 | (59) |
Change in fair value included in earnings | 57 | (13) |
Ending balance | $ 2,228 | $ 0 |
Note 15 - Accumulated Other C_3
Note 15 - Accumulated Other Comprehensive Loss - Schedule of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2020 | Jun. 30, 2019 | |
Balance | $ 148,141 | $ 130,235 |
Balance | 152,629 | 137,537 |
AOCI Attributable to Parent [Member] | ||
Balance | (4,007) | (3,900) |
Other comprehensive income (loss) before reclassifications | (152) | 82 |
Amounts reclassified from accumulated other comprehensive loss | 0 | 0 |
Balance | $ (4,159) | $ (3,818) |
Note 16 - Assets Held for Sale
Note 16 - Assets Held for Sale (Details Textual) - Jun. 30, 2020 - Land and Building Located in North Melbourne, Australia [Member] $ in Millions, $ in Millions | USD ($) | AUD ($) |
Assets Held-for-sale, Not Part of Disposal Group, Total | $ 1.7 | $ 2.7 |
Property, Plant and Equipment, Gross, Ending Balance | $ 1.3 | $ 1.9 |