Lemaitre Vascular, Inc. · NASDAQ:LMAT
Lemaitre Vascular — Investor Presentation (November 2013)
59 slides from Lemaitre Vascular's investor presentation, Nov 12, 2013
Slide 1: Forward-Looking Statements and Non-GAAP Disclaimers
Exhibit 99.1 Forward Disclaimers Factors the Non-GAAP This financial end Unless Other Slide Securities ofpresentation 2this otherwise of that Looking measures 115 presentation. might Financial andspecified, contains Statements Exchange cause used Measures by ornon-GAAP certain other contribute all C
Slide 2: Today's Presentation Format
SALES EXPANSION DEVELOPMENT NEW PRODUCTS NICHE GEOGRAPHIES TODAY’S Presentations –Access Slide Company Positioning Growth R&D Manufacturing 43SALES of Tours Lab CHANNEL Initiatives 115 FORMAT & RESEARCH+ Segment ACQUISITIONS Snapshots
Slide 3: Today's Agenda
TODAY’S Americas Europe Surgeon’s R&D Finance Acquisitions POSITIONED Company Outline Growth Positioning Slide 65and of & Initiatives Sales Regulatory 115 Snapshot ROW Perspective AGENDA for Sales GROWTH
Slide 4: Company Snapshot
LMAT 11% 87 Well-known Acquisition Profitable, *Management COMPANY LMAT’s Be MISSION: CHANNEL Focused Sales R&D Slide Acquisitions direct the growth, 87force introductions #1 Highlights ofCall Strategy sales provider 115 strong devices expansion and & SNAPSHOT vascular $63.1mm Point reps Guidance, B
Slide 5: Positioning: Focused Niche in Vascular Surgery
5,000 PERIPHERAL DISEASE •OPEN Focused POSITIONING WHY Vascular 30-yr Niche Owns Can LMAT For Slide Aortic Vein Peripheral Carotid Remote Dialysis Fistula VS do 9history 10 worldwide, THE the surgeon Stripping PROCEDURES is of both Call Repair of Creation Call surgeon Endarterectomy RIGHT Endarterec
Slide 6: Growth Initiatives: Niche Markets and Geographies
Niche POSITIONING Biologic Embolectomy ePTFE RE NICHE 87% Polyester Radiopaque Modeling Anastomotic Valvulotomes- Powered Contrast Vein Occlusion GROWTH 87 REP SALES Rep New Distributor Switzerland, Slide DISTRIBUTOR Rep Devices growth: GROWTH of Strippers- Geographies: 11 12 Markets Vascular Direct
Slide 7: Growth Initiatives: Sales Force and New Product Launches
87 Rep Americas Rep (Including Worldwide GROWTH Research PROJECT New Next Slide ALBOSURE VALVULOTOME Count: Products: Gen: 13Direct 14 of& Capacity: 1.5mm 15-25 LAUNCHES INITIATIVES 115 capacity: current 45 Development Sales Rep AlboSure MultiTASC ROW) Valvulotome rep Count: 60-65 Force 125-150 coun
Slide 8: Growth Initiatives: Recent Acquisitions and Net Sales
RECENT Acquisitions InaVein New Clinical Market XenoSure Driving INSTRUMENTS CLINICAL GROWTH 12% $60 $70 $50 $(mm) 2003 $0 $10 $20 Net Slide 30 Sales $63.1 10-yr product $40 2004 15share 16 (August 40% Instruments of(Ex ACQUISITIONS (October Sales 2005 INITIATIVES 115 line, of w/ Stent *Management 2
Slide 9: Growth Initiatives: Bottom Line Turnaround
GROWTH Solid Bottom ACA 4P $(-mm) Operating 2013 -$ 2004 AMERICAS Americas Outline Growth Positioning Slide $rofit 4.0 2.0$2005 4.0 6.0 .18 DEBT: 17 tax Financial $YTD 60.0 Line 2.0 Initiatives ofSales CASH: 2006 INITIATIVES 115 EBITDA: Turnaround $0.0mm SALES Base *Management Snapshot 2007 $13.6mm
Slide 10: Americas Sales Snapshot: Focused Vascular Company
#1 Asset VASCULAR COMPANY* Maquet FOCUSED Gore Bard AngioDynamics Cardiovascular Vascutek Endologix Atricure Vascular LeMaitre Jotec Perouse *Values Slide AMERICAS Deep Senior Director Americas Western South West Central 100 Midwest 120 — 19 Sales Mid- Vice Atlantic 120 — are US 15 of 60 = Solutions
Slide 11: Americas Sales Snapshot: Rep Compensation
Broad Americas AMERICAS Unique TIER 44 Sales $85k/yr •(50% 6Must $140k/yr Slide Lower month of 22 21 increase 45 rep base AGeographic Rep W-2 comp productivity of REPS by w/ capacity: current salary, 115 Compensation year no Skill SALES area =OR more 3-4 rep 50% set Coverage sales 60-65 experience c
Slide 12: Americas Quarterly Sales Growth
AMERICAS Quarterly US (Q/Q) 45% 30% 15% 0% -15% 2011 Q4 Niche POSITIONING 12.0% 2.0% 4.0% 6.0% 8.0% 10.0% 2004 0.0% Slide YTD Q1 Growth 0%45% 30% 15% 2012 2005 Americas: 23 24 -15% Markets (Q/Q) Worldwide Q2 ofSales Q3 2012 2006 115 Canada SALES Q4 =*Approximate, Growth 5%—6% 2012 2007 ASP Q1 Price
Slide 13: Positioning: Deep Surgeon Relationships
Add Trivex POSITIONING 12500 Deep Slide LeMaitre Products US 25 26 Vascular Relationships Bag: System of Vascular 14 115 Sales w/out Products Surgeon Rep Surgeons~ adding : 50 Relationships US Overhead Vascular Surgeons
Slide 14: Growth Initiatives: Americas Product Distribution
Recent Trivex Clinical Embolectomy –XenoSure +36% 2009 $0.0mm GROWTH Fill Americas Slide Americas 2012 Previous in2010 27 28 Q/Q Regions System Americas Product Instruments ofcurrent capacity: XenoSure distribution: 2011 INITIATIVES 115 distribution growth: Catheters with Additions Q12012 sales rep
Slide 15: Growth Initiatives: New Geographies (Brazil, Mexico, Puerto Rico)
NewCapita BRAZIL MEXICO PUERTO Population: Per Healthcare GROWTH GPOs/IDNs Leverage DEFINED ~70% OPPORTUNITY Embolectomy Polyester PTFE LMAT Bovine Slide Geographies 29 30 grafts of PRODUCTS patches of US agrafts RICO GDP: obtain spend: INITIATIVES 115 group’s 200mm 115mm 5mm and OEMs hospital cathe
Slide 16: Europe Sales Snapshot: Focused Vascular Company
Europe Outline Growth Positioning EUROPE Direct VASCULAR COMPANY* Maquet FOCUSED Gore Bard AngioDynamics Cardiovascular Vascutek Endologix Atricure Vascular LeMaitre Jotec Perouse *Values Slide 100 120 — 31 32 Sales & 120 Initiatives — are 15 of 60 Solutions 65 75 Vascular 65 & ROW 80 115 715 30 of
Slide 17: Europe Sales Snapshot: Sales Organization
Central International France EUROPE Sales Europe Rep EU Slide &Count: 34 Rep ROW Italy Europe Capacity: Northern of& Org Geography 115 34 Japan ROW capacity: current Chart Rep Ireland UK/ 40-50 Australia SALES Count: rep President Spain/ 65-80 Portugal count: Japan 8SNAPSHOT Export Capacity: 42 Mana
Slide 18: Europe Sales Snapshot: Rep Compensation and Growth
TIER 22 Sales 55k •(70% Must 9-12 EUROPE Quarterly Europe (Q/Q) 30% 20% 10% 0% 2011 Q4 Slide Aggressive of Q1 0% €/yr month 30% 20% 10% 2012 35 36 increase 34 Rep rep base A(Q/Q) Q2 Growth* of EU W-2 w/ Sales &Compensation Q3 salary, 2012 115 productivity no REPS ROW incentives/sales Molding area Q4
Slide 19: Europe Quarterly Sales Growth
EUROPE Quarterly 2011 -100% -50% 0% 50% 100% 150% 200% 250% 300% Q4 Niche POSITIONING 12.0% Europe: 4.0% 6.0% 8.0% 10.0% 2.0% 2004 0.0% Slide YTD Q12012 2005 37 38 Japan: Products Worldwide Q2 1.0%—1.5% ofSales &Q3 2012 2006 115 (2.0%) ROW Q4*Approximate, & Growth: 2012 2007 Q1 Direct Price SALES Q2
Slide 20: Positioning: European Sales Force Restructuring
Strategic Trivex New Sales POSITIONING Stent No European Renewed Slide clinical products 39 Graft 40 Force System of Sales focus Sales 115 monitors Exit Rationalization #Force on Force Q3 Newcore 2011 Model overhead restructured productsDeep Relationships
Slide 21: Export Markets Sales Growth
Sales 30% 10% 15% 20% 25% Xeno 2010 -15% -10% -5% 0% 5% Q1 Staffed 1POSITIONING 40+ 6% 31% Current Slide Export Q2 of Distributors Export European Stent Q3 2010 41 42 Force EU WW Q3 Export Export Growth of Manager Launch Graft Q4 2010 115 Sales Markets Rationalization Q1 Market Sales* Markets *Organ
Slide 22: Growth Initiatives: Tenders/GPOs and Product Distribution
GPO POSITIONING DEFINED TENDERS/GPOs ~70% OPPORTUNITY Polyester LMAT GROWTH Product Clinical Embolectomy –XenoSure +81% 2011 $0.0mm Q2 Slide 2012 Previous EUQ32011 & 43 44 distribution Growth: of Q/Q Q4 PRODUCTS EU Tenders Additions Instruments of healthcare grafts Q1 2011 distribution: Submit Sales
Slide 23: Growth Initiatives: New Geographies (China, Poland, Portugal)
Fill Capita Europe Rep EU GROWTH New CHINA POLAND Population: PORTUGAL Per Healthcare Slide& in Count: Geographies 45 46 ROW Regions Capacity: of GDP: spend: INITIATIVES 115 34 1,351mm 39mm 11mm capacity: current Rep with $9,000 $21,000 $24,000 40-50 5% 7% 10% Count: Additional rep65-80 count: Japan
Slide 24: Growth Initiatives: New Export Geographies
New 2013, Australia 2014, 2015, GROWTH 1Increase 40+ 6% 31% Tunisia Turkey Israel Vietnam Near-term Indonesia Slide Export of Distributors Export Q3 Geographies: 47 48 Iran Q2 Q3 Q4 Q1 WW Iraq Growth of Export Philippines Manager Capacity: Australian Country Melbourne 2India Export INITIATIVES 115 s
Slide 25: Surgeon's Perspective: Vascular Surgeon Biography
AProduct: My Outline •Experience Trends RUTH Curriculum –Board Interim College Vascular System, Trainer/ >100 InaVein)—Trivex Editorial Surgery Slide Therapy Vascular LMAT’s Products General VASCULAR background 49 50 presentations certified L. in Campus Station, (assoc. Temple, proctor/ of Surgeon b
Slide 26: Surgeon's Perspective: LMAT's Products
LMAT’s Intraoperative Product Sales Deep EXPERIENCE Products Trivex Valvulotome Patches XenoSure LifeSpan AlboGraft Embolectomy Carotid Contrast Slide 51 52 Relationships rep System Shunt and quality of Injector Competencies Iresponsiveness, ePTFE Biologic Currently Polyester 115 Grafts support Cath
Slide 27: Surgeon's Perspective: Peripheral Artery Disease Bypass Options
PERIPHERAL BYPASS DISEASE ePTFE Cryovein Polyester Lower Better Configuration: EXPERIENCE Valvulotome: TASC TransAtlantic Eur Recommendation Table •Above Vein and PTFE good-quality Autologous Slide AnJdistal Adequate 74-76% 53 54 Vasc F7b. –size II infection knee (polytetrafluoroethylene) polytetraf
Slide 28: Surgeon's Perspective: How the LeMaitre Valvulotome Works
Self-Sizing Over-the-Wire Self-Centering Wide Effective Atraumatic Self-sizing, EXPERIENCE Valvulotome: Slide 55 56 blade of 115 Expandable range self-centering How LeMaitre w/with LMAT It Works sharp LeMaitre Valvulotome PRODUCTS Hoops cutting Valvulotome: blades (2.0mm to1.5mm 6.0mm) to 6.0mm
Slide 29: Surgeon's Perspective: Venous Disease and Trivex
ABNORMAL EXPERIENCE #Trivex: Arterial Globally: US: Males: •Females: more Indications Range: Generally Pregnancy Genetics Surgery Ref Slide Many Affected 1: 2: 25than 57 58 Heit Baker 15% –Simple Varicose Intro are fear Disease of 40mm 30% 0.7 Progressive the 4-5x 115 uneducated Risk JA, treatment a
Slide 30: Trivex: How It Works
1 2 3 60 Hydrodissection EXPERIENCE Trivex: Pre-op Slide 59Day How Clinical of 115 2ItWeek Works w/ Results Transillumination LMAT 6 PRODUCTS Resection
Slide 31: Trivex: Clinical Results
Trivex: Excellent 99.7% Shorter 19.7 Fewer No Minimal Better Franz A EXPERIENCE XenoSure Slide Review sutures min 61 62 RW, visualization small patient-reported Clinical procedure of recurrence avg outcomes of Biologic Knapp 115 (2 339 procedure –w/ Advantages 3mm) Consecutive ED. times LMAT Patch:
Slide 32: Trends in Vascular Surgery: Evidence-Based Medicine
EXPERIENCE AlboGraft TRENDS Evidence-Based How practice In Versus LMAT We “LeMaitre manufacturing. Medicine Slide product purchasing reimbursement have hold is 63the 64 Viewpoint: the today of ourselves awith IN Polyester selection medical 25-year under-priced need 115 VASCULAR committee identical w
Slide 33: Trends in Vascular Surgery: Affordable Care Act
Affordable Are Has Can Our Patient Vascular TRENDS Minimally What Where Is Do LMAT We Slide there you are you products your you 66 shift are Viewpoint: demographics always enough expect seeing of speak disease ability IN peripheral have Invasive Care 115 VASCULAR are looking more about more evidence
Slide 34: R&D Snapshot: Project Criteria and Types
Outline Growth Positioning Regulatory R&D Project CRITERIA Vascular Disposable/implantable Niche Investment IP Portfolio Slide generation 67 68 and Snapshot SNAPSHOT markets Criteria Initiatives of surgeon fit REGULATORY 115 Update size TYPE Develop and callType point New NextSKU Products GenExpansi
Slide 35: R&D Snapshot: Next Generation Products and Org Chart
Examples Existing Snare Steerable Specialty catheters Dialysis Next 4Accessories Vice De 3R&D Slide Engineers Novo President Generation 69 70 =retrieval SNAPSHOT OrgCUSTOMIZED catheter of products •catheters balloon Chart Vena 115 & Extensions Peripheral cava Atherectomy Stent Carotid filters graft
Slide 36: R&D Snapshot: Recent Launches
1.8mm Valvulotome Launched, R&D Recent AlboGraft •Factory Slide Cutting Launched, 71 72 SNAPSHOT Launch: Expandable purchased, integrated, of range AlboSure 2002 115 April June Valvulotome unchanged Next New Decreased 2013 2013 2010 2007 1.5mm Product Gensince First Expandable sizesignificant acquis
Slide 37: R&D Snapshot: Recent Product Launch Performance
Recent MollRing Vollmar Company •since R&D 25% Pruitt 15% 20% Hard 2007 0% 5% 10% Q1 Slide Launched, Q1Switch 2008 acquisition 73 74 SNAPSHOT Performance Sales F3 Q1 Launch: Dissector ofacquired, Cutter Q1 2009 115 as March Benefit % Q1 New 2010 & ofQ1 2013 MultiTASC Total 2007 Product Q1 2011 Sales
Slide 38: Positioning: Surgeon Idea to Product Development
Deep Surgeons’ & 1983—2006 Idea Healthy POSITIONING Biologic Embolectomy RE R&D share of Carotid Radiopaque Grafts Modeling Powered Valvulotomes Contrast Vein Slide OR the Devices Sourcing Strippers 75 76 Vascular of increases pie Visits Shunts Project individual of Injectors Patches Phlebectomy Cat
Slide 39: Growth Initiatives: Consistent Product Launches
Consistent POSITIONING LAUNCH 2001 2002 2003 2004 2007 2008 2010 2011 2012 2013 GROWTH Platform Collagen Nitinol Slide AnastoClip AlboSure O-T-W TT TAA 1.8mm Novasil Reddick Flexcel InvisiGrip Distal 5F Pruitt UnBalloon MultiTASC 1.5mm 77Extrusions/Moldings 78 of Plus Delivery Technologies Biologics
Slide 40: Growth Initiatives: R&D Pipeline
More 8642014 10 12 GROWTH Pipeline SKU NEXT Valvulotome NEW AnastoClip Biologics OTHER: Slide 004 R&D2005 EXPANSION: 79 80 Engineers PRODUCT: GEN: Features of Engineer Carotid Research 2006 INITIATIVES 115 UnBalloon 2007 Shunt Count Valvulotome Occlusion 2008 Research 2009Catheter 2010 2011 2012 201
Slide 41: Regulatory Update: Current Approvals and Pending
Current REGULATORY Pending Americas Product Valvulotome: VascuTape Embolectomy Carotid Reddick AnastoClip: InvisiGrip LeverEdge EndoRE AlboGraft The XenoSure LifeSpan AlboSure Trivex APPROVED Slide *Regulatory UnBalloon 81System* 82 Approvals Shunts: EU Approvals of Cholangiogram Devices: ePTFE Asia
Slide 42: Regulatory Update: Approval Frequency
REGULATORY Approval 50230 10 15 20 25 *Expected Acquisitions Outline ACQUISITIONS Growth Positioning Slide 004 # of 2005 83Approvals/yr 84Initiatives ofFrequency (YTD 2006 115 Snapshot 2007 UPDATE = 23) Is2008 Increasing 2009 2010 2011 2012 2013 YTD
Slide 43: Acquisitions Snapshot: Criteria and Success Metrics
Business Legal President ACQUISITIONS Project CRITERIA Vascular Disposable/implantable Niche ~$3-10mm Sales Reasonable Slide 85 86 growth Business markets Criteria of surgeon Development 115 revenue SUCCESS valuation IRR Gross Development and call SNAPSHOT Success target margin point METRICS Org Int
Slide 44: Acquisitions Snapshot: Completed Deals
(in 45% 40% 2Deals 25% 30% (#) 1435% 10% 0% 5% ACQUISITIONS LMAT YEAR 1998 1999 2001 Total ~$40mm 2005 2007 2010 2012 2013 Average Slide 0% 5% Acquired 1 Year 2 1AlboGraft VascuTape Trivex Acquisition 1999 Embolectomy Stent LeverEdge EndoRE UnBalloon LifeSpan XenoSure Carotid 87 88 Completed Acquire
Slide 45: Acquisitions Snapshot: Recent Clinical Instruments Acquisition
210 D $50 $40 S 1$$20 1998 $0 ACQUISITIONS Recent CLINICAL Acquired 2012 Paid Rationale: expansion Integration closure Slide 60 ales Acquired eals 14(#) $1.1mm 1999 Sales: 89 90 ($ Growth Non-Acquired Completed Acquisition: Q3 mm) ofJuly Sales opportunity Market 2000 2014 Status: 115 Sales INSTRUMEN
Slide 46: Acquisitions Snapshot: InaVein Acquisition and Scorecard
Recent Acquired INAVEIN Paid potential Rationale: Trivex opportunity –Integration signed ACQUISITIONS Scorecard: YEAR 1998 1999 2001 2003 2004 2005 2007 2010 2012 2013 Slide **Calculated Office Contract Chinese $2.5mm AnastoClip AlboGraft VascuTape Trivex Sales: Embolectomy Quick Stent LeverEdge End
Slide 47: Positioning: Competitive Deal Sourcing
15 Years Private Deal LMAT POSITIONING Competitive Slide Sourcing 93Avoids 94Equity of of 115 Pipeline Bidding Bidding MD Innovation Development Process Wars Proprietary SuccessionDeal PlanSourcing Carve Outs
Slide 48: Acquisition Integration Proficiencies
Cross Surgeon Manufacturing Distributor PROFICIENCIES 14 POSITIONING INTEGRATION Sales Quality Slide Acquisitions 95 96 Force Selling Improvement Training of 115 Regulatory Education Integration Integrated PROFICIENCIES Branding ASP Increases Next Terminations Gen Appr R&D vals
Slide 49: Growth Initiatives: Acquisition Opportunities and Market Size
Market Stent Vascular PTA BM Modeling Endovenous Peripheral Rate Growth Carotid Endarterectomy GROWTH Acquisition OPEN Biological DIALYSIS Anastomotic Ablation VENOUS DVT Embolectomy Valvulotomes ARTERIAL Shunts Grafts TOOLS/ACCESSORIES Sealants Snares Hemostatic Guide Slide &&Thrombectomy Devices G
Slide 50: Financial Snapshot: Net Sales
Financial Outline FINANCIALS Growth Positioning FINANCIAL Sales $60 .6$70 $50 $(mm) 2003 $0 $10 $20 Net Slide 3 Sales 30 $1$40 2004 99 100 10-yr Initiatives ofSnapshot (Ex of2005 115 CAGR 115 SNAPSHOT Stent 2006 *Management =Graft) 12% 2007Stent 2008Guidance, Graft 2009Sales 2010 November 2011 2012
Slide 51: Financial Snapshot: Gross Margin and Operating Income
70% 72% 74% M Gross 66% 2004 60% 62% GM XenoSure Clinical Trivex Product Geographic FINANCIAL 2009 Operating $60 ACA $50 4G Stent 6E $30 .vSales $10 Op Ex $0 2003 *Management Slide xrafts $20 argin -$6 36 $6 $4 $0 -$4 IMPACT 1% Bottom 2005 101 $40 102 tax $-$2 Margin 64% .IPO Integration .Operating
Slide 52: Financial Snapshot: Returning Capital to Shareholders
Returning mm) $0.8 $1.0 $1.3 2007 $0.0 Dividend $0.3 FINANCIAL Stock Average $350 $($400 k) $250 $300 Slide $0 $50 $100 $150 0.5 $200Share Trading 2008 103 104 Technicals Daily of Shareholder 2009 Repurchase 115 Volume SNAPSHOT $ 2010 *Average 2011 Value calculated 2012 2013quarter-to-date
Slide 53: Financial Snapshot: Stock Technicals and Ownership
FINANCIAL Stock HOUSATONIC (1.4mm LMAT 40% 50% 10% 20% 30% Owners 2007 0% Institutional Insider LMAT’s POSITIONING 4CANADA Good SWITZERLAND Existing Office 2No Immediate Minimal Significant Slide Reps Office Insider Owners 2008 105 106 Margins Technicals Ownership ?JAPAN beneficial LMAT Sales Asian
Slide 54: Positioning: R&D Investment
R&D $7.0 $6.0 $4.0 $5.0 ($mm) Product 2006 $0.0 $1.0 LMAT’s POSITIONING PRODUCT SALES GROSS $3.0mm DEVELOPMENT Slide $3.2mm 2.0 $3.0 Total 8.2% Regulatory, 2007 107 108 Investment Development PROFIT R&D of R&D 2008 $4.5mm 115Investment 2009 *YTD Royalties, Ramp2010 2013 Process 2011 mix2012 applied
Slide 55: Sales Force Profitability and Operating Leverage
LMAT’s SALES CARRYING $160k Reps in Profitability POSITIONING Sales Gross S&M G&A R&D Operating Slide 2 years pay 109 110 100% 8% 21% 34% Profit $80k REP Sales for of Income over Leverage 115 70% INCREMENTAL themselves COST Force time OPERATING 7%GROSS Model PROFIT LEVERAGE
Slide 56: Growth Initiatives: Access to Cash and Tuck-in Case Study
Access TUCK Cash or CASE Target ~ GROWTH Guidance* 2013 Slide $7mmFY Cash + 111 112 w/ STUDY: IN Debt toCash Sales Operating of $8mm Debt LARGER +INITIATIVES 115 +Debt +Equity =&$13mm *Management in $63.1mm Equity Revenue Income DEALDebt (+11% ==$4.6mm $20mm Guidance, growth) (7% Purchase November m
Slide 57: GAAP to Non-GAAP Financial Measures Reconciliation
GAAP Financial Ex Stent Sales Reconciliation Impact For Net Adjusted **Management Slide Stent the Sales impact sales Graft 113 Ex-Stent TO of year Grafts* net per as Measures of $currency asNON-GAAP of Sales 20,664 reported ending 115 reported sales guidance discontinued acquisitions between Grafts
Slide 58: GAAP to Non-GAAP Reconciliation: Adjusted EBITDA
GAAP Financial Netimpact Impact Adjusted Reconciliation Net Interest Taxes Depreciation EBITDA, *Amounts Slide sales Sales impact income 114 714 TO of 14net as Measures of as currency for of are NON-GAAP of as reported 115 reported sales and acquisitions the acquisitions discontinued in reported, be
Slide 59: LeMaitre: Your Peripheral Vascular Vision
Lemaitre Your Peripheral vascular Vision
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