0001437749-20-016853 | 10-Q | XBRL Viewer

Print Document View Excel Document

Document And Entity Information - shares	6 Months Ended
Document And Entity Information - shares	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 (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 (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 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 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

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1A
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121641772&loc=SL7669619-108580

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22694-107794

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(22))
-URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22694-107794

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721683-107760

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22595-107794

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1B
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121641772&loc=SL7669625-108580

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(18))
-URI http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(20))
-URI http://asc.fasb.org/extlink&oid=120395209&loc=SL114868664-224227

Reference 13: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 28
-URI http://asc.fasb.org/extlink&oid=121586364&loc=d3e3602-108585

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22499-107794

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22663-107794

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=75031198&loc=d3e14064-108612

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22583-107794

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 60B
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121326447&loc=SL5780133-109256

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22658-107794

+ Details

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 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 2 - Income Tax Expense

6 Months Ended

Jun. 30, 2020

Notes to Financial Statements

Income Tax Disclosure [Text Block]

2. Income Tax Expense

As part of the process of preparing our consolidated financial statements we are required to determine our income taxes in each of the jurisdictions in which we operate. This process involves estimating our actual current tax expense together with assessing temporary differences resulting from recognition of items for income tax and accounting purposes. These differences result in deferred tax assets and liabilities, which are included within our consolidated balance sheet. We must then assess the likelihood that our deferred tax assets will be recovered from taxable income during the carryback period or in the future; and to the extent we believe that recovery is not more likely than not, we must establish a valuation allowance. To the extent we establish a valuation allowance or increase this allowance in a period, we must reflect this increase as an expense within the tax provision in the statement of operations. We do not provide for income taxes on undistributed earnings of certain foreign subsidiaries, as our intention is to permanently reinvest these earnings.

We recognize, measure, present and disclose in our financial statements any uncertain tax positions that we have taken, or expect to take on a tax return. We operate in multiple taxing jurisdictions, both within and without the United States, and may be subject to audits from various tax authorities. Management’s judgment is required in determining our provision for income taxes, our deferred tax assets and liabilities, liabilities for uncertain tax positions, and any valuation allowance recorded against our net deferred tax assets. We will monitor the realizability of our deferred tax assets and adjust the valuation allowance accordingly.

Our policy is to classify interest and penalties related to unrecognized tax benefits as income tax expense. Our 2020 income tax expense varies from the statutory rate mainly due to the generation of federal and state tax credits, permanent items, and different statutory rates from our foreign subsidiaries. Our 2019 income tax expense varied from the statutory rate mainly due to federal and state tax credits, permanent items, different statutory rates from our foreign subsidiaries, and discrete stock option exercises.

We have reviewed the tax positions taken, or to be taken, in our tax returns for all tax years currently open to examination by a taxing authority. As of June 30, 2020, the gross amount of unrecognized tax benefits exclusive of interest and penalties was $785,000. We remain subject to examination until the statute of limitations expires for each respective tax jurisdiction. The statute of limitations will be open with respect to these tax positions until 2027. A reconciliation of beginning and ending amount of our unrecognized tax benefits is as follows:

	Six months ended June 30, 2020
	(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, a summary of the tax years that remain subject to examination in our taxing jurisdictions is as follows:

United States	2016 and forward
Foreign	2013 and forward

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

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

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 and 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 held as inventory, and the costs we incur to procure and process them are instead accumulated and deferred. These costs include fixed and variable overhead costs associated with the cryopreservation process, including primarily direct labor costs, tissue recovery fees, inbound freight charges, indirect materials and facilities costs. General and administrative expenses and selling expenses associated with the provision of these services are expensed as incurred.

Note 4 - Acquisitions and Divestitures

6 Months Ended

Jun. 30, 2020

Notes to Financial Statements

Business Combination Disclosure [Text Block]

4. Acquisitions and Divestitures

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 included, as the impact is immaterial.

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 of the fair value hierarchy, due to the use of significant unobservable inputs to determine fair value. The fair value measurements were calculated using unobservable inputs, primarily using the income approach, specifically the discounted cash flow method. The amount and timing of future cash flows within our analysis was based on our due diligence models, most recent operational budgets, long-range strategic plans and other estimates. Our assumptions associated with these Level 3 valuations are discussed below and in Note 14 to these financial statements.

Artegraft Biologic Grafts

On June 22, 2020, we entered into an Asset Purchase Agreement (Artegraft APA) to acquire the bovine carotid artery graft business from Artegraft Inc. (Artegraft). Under the terms of the Artegraft APA, we agreed to pay Artegraft a total of up to $90.0 million for the purchase of substantially all of its assets related to its business of the manufacturing, marketing, sale and distribution of its bovine carotid artery grafts (Products) , other than specifically identified excluded assets. The acquired assets included inventory, accounts receivable, machinery and equipment, intellectual property, permits and approvals, data and records, and customer and supplier information. At closing, $72.5 million of the purchase price was paid to Artegraft and other parties as specified in the Artegraft APA, including $7.5 million into an escrow account. The escrow amount is to be held until December 31, 2021 to cover any potential claims against LeMaitre or Artegraft, after which it will be released to Artegraft by mutual consent of the parties.

Three earn-out payments of $5.8 million each are potentially due to Artegraft under the Artegraft APA depending on the achievement of specified revenue targets, as follows:

●

$5.8 million upon final determination that 20,000 units of Product have been sold to third parties from January 1, 2021 to December 31, 2021;

●

$5.8 million upon final determination that there have been 24,000 units of Product have been sold to third parties from January 1, 2022 to December 31, 2022; and

●

$5.8 million upon final determination that there have been 28,800 units of Product have been sold to third parties from January 1, 2023 to December 31, 2023.

The Artegraft APA includes a catch-up feature on the earn-outs such that, at the end of the three-year period, if the sum of the unit sales for all three years is greater than or equal to 58,240 unit sales (80% of the combined individual-year targets), Artegraft will receive a “catch-up payment” in an amount equal to (a) $17,500,000 times a fraction, the numerator of which is the aggregate number of unit sales for the three-year period, and the denominator of which is 72,800 less (b) any individual-year earn-out previously paid. We recorded this liability at a fair value of $0.4 million to reflect management’s estimate of the likelihood of achieving these targets, as well as the time value of money until payment.

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. Revenues from the acquisition were $0.2 million for the quarter ended June 30, 2020. The following unaudited pro forma financial information presents the results of operations for the three- and six-month periods ended June 30, 2020 and 2019 as if the acquisition had occurred at the beginning of 2019. The pro forma financial information presents historical operating results for the combined entities with adjustments for amortization expense, interest, management fees and related tax effects. This information has been prepared for comparative purposes only and is not indicative of what actual results would have been if the acquisitions had taken place at the beginning of fiscal 2019, or of future results.

	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 (the Closing Date), we entered into an asset purchase agreement (Admedus APA) to acquire the biologic patch business assets and a related technology license from Admedus Ltd (now known as Anteris Technologies Ltd) and various of its subsidiaries (Admedus). The biologic patch business consists of the CardioCel and VascuCel product lines, which are manufactured in a manner intended to reduce the risk of calcification. The products are sold worldwide. On the same date, the parties entered into a Transition Services Agreement (TSA) under which Admedus will manufacture and supply LeMaitre with inventory for a period of up to three years, unless extended in writing by both parties.

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 be payable as follows:

●

$0.7 million within 15 days following the first anniversary of the Closing Date;

●

$0.7 million within 15 days following the third anniversary of the Closing Date;

●

$2.0 million within 15 days following LeMaitre’s receipt of a CE mark on all acquired products;

●

$2.5 million if revenues in the first 12-month period following the Closing Date exceed $20 million, or, $1.2 million if revenues in the first 12-month period following the Closing Date exceed $15 million;

●

$2.5 million if revenues in the second 12-month period following the Closing Date exceed $30 million, or, $1.2 million if revenues in the first 12-month period following the Closing Date exceed $22.5 million; and

●

$0.5 million if by the first anniversary of the Closing Date Admedus extends the shelf life of the products from 36 months to at least 60 months

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 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	$	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, we entered into an agreement with UreSil, LLC to purchase the remaining assets of their Tru-Incise valve cutter business, including distribution rights in the United States. We also entered into a transition services agreement under which UreSil, LLC continued to manufacture the acquired products for us for a specified time, until we transitioned the full manufacturing process to our Burlington, Massachusetts facilities. This manufacturing transfer is now complete.

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 follow-on payments $0.4 million each due on the first, second and third anniversaries of the closing date. The deferred amounts totaling $1.2 million were recorded at an acquisition-date fair value of $1.1 million using a discount rate of 4.19% to reflect the time value of money between the acquisition date and the payment due dates. There are no contingencies associated with these holdback payments, although they may be reduced for certain post-closing claims. The first payment was made without adjustment in 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, we acquired the business assets of Cardial, a company located in Saint-Etienne, France. The Cardial business consists of the manufacturing of polyester vascular grafts, valvulotomes, surgical glue and original equipment manufacturing (OEM) services.

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 million ($2.3 million). At closing, €1.1 million ($1.3 million) was paid in cash, and €0.5 million ($0.5 million) of liabilities were assumed by LeMaitre Cardial SAS. Another €0.4 million ($0.4 million) was due in two installments, half to be paid twelve months after the closing date, and half eighteen months after the closing date, subject to possible reductions depending upon the results of a reconciliation of the value of inventory transferred, as outlined in the agreement, or for certain post-closing claims. The first of these two payments was not required to be made based on the inventory reconciliation results. The second payment was made in April 2020, in a reduced amount based on the inventory reconciliation results, as well as other post-closing claims.

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 million ($0.6 million), resulting in a net gain of €1.4 million ($1.6 million).

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, we entered into an agreement to acquire the assets of the embolectomy catheter business of Applied Medical Resources Corporation (Applied). The acquired business consists of several embolectomy, thrombectomy and irrigation catheter product lines. On the same date, we entered into a TSA under which Applied would manufacture and supply us with inventory for a period of twelve months, unless extended by both parties. The TSA was not extended.

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 months following the closing date. The final $1.2 million is due 24 months following the closing date. The deferred amounts totaling $3.2 million were recorded at an acquisition-date fair value of $3.0 million using a discount rate of 3.75% to reflect the time value of money between the acquisition date and the payment due dates. There are no contingencies associated with these holdback payments, although they may be reduced for certain post-closing claims.

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, we entered into an agreement to sell the inventory, intellectual property and other assets associated exclusively with our Reddick cholangiogram catheter and Reddick-Saye screw product lines for $7.4 million to Specialty Surgical Instrumentation. At the same time, we entered into a TSA under which we would continue to manufacture and supply these products to the buyer for a period of up to two years unless extended by both parties, as well as a balloon supply agreement under which we will supply balloons, a component of the cholangiogram catheters, to the buyer for a period of up to six years unless extended by both parties. We recorded a gain during the quarter ended June 30, 2018 in connection with these agreements of $5.9 million. The following table summarizes the allocation of consideration received:

	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 and all remaining deferred revenue was recognized.

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 and Other Intangibles

Goodwill consists of the following as of June 30, 2020 (in thousands):

	(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 is 12.8 years. Amortization expense is included in general and administrative expense and was as follows for the periods indicated.

	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 and for each of the five succeeding fiscal years will be as follows:

	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 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), we incurred debt in the amount of $65 million under a senior secured credit facility with a group of banks. This credit arrangement included a $25 million revolving credit line that was fully drawn as of June 30, 2020, as well as a $40 million five-year term loan, as follows:

	June 30, 2020
	(in thousands)

Five-year term loan, net of unamortized debt issuance costs of $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 all outstanding borrowings were designated as Eurodollar loans and bore interest of 3.5%. We incurred debt issuance costs in connection with this credit arrangement of approximately $1.8 million. The transaction costs were allocated between the revolving line of credit and the term loans, with the portion related to the revolving line of credit of $0.7 million recorded in other assets on our balance sheet, and the portion allocated to the term loan recorded as a deduction from the amount of the debt. All of these transaction costs are being amortized into interest expense on a straight-line basis as the result is not materially different from using the interest method, over the five-year term of the arrangement. This results in an effective interest rate of approximately 4.2%.

The term of the revolving line of credit is five years, with all outstanding amounts due on June 22, 2025. The term loan is repayable in increasing quarterly installments of $0.5 million to $1.0 million commencing September 30, 2020 through March 31, 2025, with the remaining outstanding balance due on 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), if we make certain sales of assets outside the ordinary course of business above certain thresholds or if we suffer certain property loss events above certain thresholds. We may make optional prepayments of the term loans from time to time without premium or penalty.

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 months ended June 30, 2020 of approximately $66,000.

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 meet the criteria for finance leases. Our principal worldwide executive, distribution, and manufacturing operations are located at five leased facilities with square footage totaling 109,354 in Burlington, Massachusetts. All five Burlington leases expire in December 2030. In addition, our international operations are headquartered at a 16,470 square foot leased facility located in Sulzbach, Germany, including approximately 3,630 square feet added in 2019, under a lease which expires in August 2023. This lease contains two five-year renewal options. We also lease a 2,258 square foot facility in Hereford, England which houses our United Kingdom sales and distribution business. In connection with our acquisition of the Artegraft biologic graft business, we assumed a 16,732 square foot lease in North Brunswick, New Jersey, which expires in October 2029. We also have smaller long-term leased sales, marketing and other facilities located in Arizona, Japan, Canada, Australia, Singapore and China, and short-term leases in Italy, Spain and Illinois. Our lease in Canada contains a five-year renewal option exercisable in February 2023. Our leases in Germany and Australia are subject to periodic rent increases based on increases in the consumer price index as measured each September and May, respectively, with such increases applicable to the subsequent twelve months of lease payments. None of our noncancelable lease payments include non-lease components such as maintenance contracts; we generally reimburse the landlord for direct operating costs associated with the leased space. We have no subleases, and there are no residual value guarantees associated with, or restrictive covenants imposed by, any of our leases. There were no assets held under capital leases at 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 years, with older vehicles replaced by newer vehicles from time to time.

We account for leases under the provisions of ASU No. 2016-02, Leases (Topic 842), subsequently amended by ASU 2018-11, Leases (Topic 842): Targeted Improvements. Under this guidance, we are required to recognize the following for all leases (with the exception of short-term leases) at the commencement date: a lease liability, which is a lessee’s obligation to make lease payments arising from a lease, measured on a discounted basis; and a right-of-use asset, which is an asset that represents the lessee’s right to use, or control the use of, a specified asset for the lease term.

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 debt as of the adoption of this standard, we had no incremental borrowing rate to reference. We therefore derived an incremental borrowing rate using quotes from potential lenders as the primary inputs, augmented by other available information. The resulting rate selected was 5.25%. We determined that it was appropriate to apply this single rate to our portfolio of leases worldwide, as the lease terms and conditions are substantially similar, and because we believe our subsidiaries would be unable to obtain borrowings on their own without a commitment of parent company support. In connection with the assumption of the Artegraft lease referenced above, we used LeMaitre’s borrowing rate of 3.5% as of the acquisition date associated with debt incurred to finance the acquisition to value the lease.

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, the minimum noncancelable operating lease rental commitments with initial or remaining terms of more than one year are as follows:

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 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-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, operating segments are defined as components of an enterprise for which separate, discrete financial information is available and evaluated by the chief operating decision-maker in making decisions on how to allocate resources and assess performance. We view our operations and manage our business as one operating segment. No discrete operating information is prepared by us except for sales by product line and by legal entity for local reporting purposes.

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

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8981-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 26
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8844-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8657-108599

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

+ Details

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 Stock Option and Incentive Plan allows for granting of incentive stock options, non-qualified stock options, stock appreciation rights, restricted stock units, unrestricted stock awards and deferred stock awards to our officers, employees, directors and consultants. The components of share-based compensation expense were as follows:

	Three months ended 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-month period ended June 30, 2020, we granted options for the purchase of 20,000 shares of our common stock. During the six-month ended June 30, 2020, we awarded 2,292 restricted stock units. We issued approximately 26,000 and 141,000 shares of common stock following the exercise or vesting of underlying stock options or restricted stock units during the three months ended June 30, 2020 and 2019, respectively.

Note 11 - Net Income Per Share

6 Months Ended

Jun. 30, 2020

Notes to Financial Statements

Earnings Per Share [Text Block]

11. 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

6 Months Ended

Jun. 30, 2020

Notes to Financial Statements

Stockholders' Equity Note Disclosure [Text Block]

12. Stockholders’ Equity

Share Repurchase Program

On February 14, 2019, our Board of Directors authorized the repurchase of up to $10.0 million of the Company’s common stock through transactions on the open market, in privately negotiated purchases or otherwise. On February 13, 2020, the Board extended the term of this repurchase program to February 14, 2021. The repurchase program may be suspended or discontinued at any time. To date we have not made any repurchases under this program.

Dividends

In February 2011, our Board of Directors approved a policy for the payment of quarterly cash dividends on our common stock. Future declarations of quarterly dividends and the establishment of future record and payment dates are subject to approval by our Board of Directors on a quarterly basis. The dividend activity for the periods presented is as follows:

Record Date	Payment Date	Per Share Amount		Dividend Payment
				(in thousands)
Fiscal Year 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, our Board of Directors approved a quarterly cash dividend on our common stock of $0.095 per share payable on September 10, 2020, to stockholders of record at the close of business on August 27, 2020, which will total approximately $1.9 million.

Note 13 - Supplemental Cash Flow Information

6 Months Ended

Jun. 30, 2020

Notes to Financial Statements

Cash Flow, Supplemental Disclosures [Text Block]

13. Supplemental 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 Measurements

6 Months Ended

Jun. 30, 2020

Notes to Financial Statements

Fair Value Disclosures [Text Block]

14. Fair Value Measurements

The fair value accounting guidance requires that assets and liabilities carried at fair value be classified and disclosed in one of the following three categories:

•

Level 1 — Quoted prices in active markets for identical assets or liabilities.

•

Level 2 — Observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data.

•

Level 3 — Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. This includes certain pricing models, discounted cash flow methodologies and similar techniques that use significant unobservable inputs.

Level 1 assets being measured at fair value on a recurring basis as of June 30, 2020 included our short-term investment and short-duration bond mutual fund accounts.

We had no Level 2 assets being measured at fair value on a recurring basis as of June 30, 2020.

As discussed in Note 4, several of our acquisition-related assets and liabilities have been measured using Level 3 techniques. During 2019, we recorded contingent liabilities associated with our acquisition of the CardioCel and VascuCel patch business from Admedus. The agreement included the potential for us to pay up to $7.8 million of additional consideration beyond payments made at closing, with $0.3 million contingent upon the delivery of audited financial statements of the acquired business to us, which was paid in November 2019; $2.0 million contingent on LeMaitre Vascular’s success in obtaining CE marks on the acquired products, $0.5 million contingent upon Admedus’ success in extending the shelf life of the acquired products as specified in the agreement, and another $5.0 million contingent on the achievement of specified levels of revenues in the first 12 and 24 months following the acquisition date. This additional contingent consideration was initially valued in total at $2.3 million and is being re-measured each reporting period until the payment requirement ends, with any adjustments reported in income from operations.

On June 22, 2020, we acquired the bovine carotid artery graft business from Artegraft. The agreement includes the potential for us to pay up to $17.5 million of additional consideration beyond payments made at closing, contingent on the achievement of specified unit sales during each of the years ended December 31, 2021, 2022 and 2023. The agreement includes a catch-up feature under which, if cumulative unit sales over the three-year period are at least 80% of the sum of the individual annual targets, the earn-out would be paid at that percentage of the maximum $17.5 million payout. This liability was recorded at an acquisition-date fair value of $0.4 million to reflect management’s estimate of the likelihood of achieving these targets, as well as the time value of money until payment, and will be re-measured each reporting period until the payment requirement ends, with any adjustments reported in income from operations.

The following table provides a rollforward of the fair value of these liabilities, as determined by Level 3 unobservable inputs including management’s forecast of future revenues for the acquired business, management’s estimate of the likelihood of obtaining CE marks on the acquired products, and management’s estimate of Admedus’ ability to extend the shelf life of the acquired products.

	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	$	-

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Note 15 - Accumulated Other Comprehensive Loss

6 Months Ended

Jun. 30, 2020

Notes to Financial Statements

Comprehensive Income (Loss) Note [Text Block]

15. Accumulated Other Comprehensive Loss

Changes to our accumulated other comprehensive loss for the six months ended June 30, 2020 and 2019 consisted primarily of foreign currency translation:

	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

6 Months Ended

Jun. 30, 2020

Notes to Financial Statements

Assets Held for Sale [Text Block]

16. Assets Held for Sale

During the first quarter of 2020, in connection with our planned transfer of the manufacturing of our Omniflow II ovine biologic graft to our Burlington, Massachusetts facility, management committed to and executed a plan to sell our land and building located in North Melbourne, Australia for A$2.7 million ($1.7 million). The sale is expected to close in September 2020, though no assurance can be given that the sale will be consummated at such time, or at all. These assets, with a net book value of A$1.9 million ($1.3 million) as of June 30, 2020, met the criteria to be classified as assets held for sale as of that date.

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-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments, consisting only of normal, recurring adjustments considered necessary for a fair presentation of the results of these interim periods have been included. Preparing financial statements requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses. Actual results may differ from these estimates. Our estimates and assumptions, including those related to bad debts, inventories, intangible assets, sales returns and discounts, share-based compensation, and income taxes are updated as appropriate. The results for the six months ended June 30, 2020 are not necessarily indicative of results to be expected for the entire year. The information contained in these interim financial statements should be read in conjunction with our audited consolidated financial statements as of and for the year ended December 31, 2019, including the notes thereto, included in our Form 10-K filed with the Securities and Exchange Commission (SEC) on 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 pandemic, there is heightened volatility and uncertainty in customer demand and the worldwide economy in general, and as a result, the Company anticipates decreased revenues for its products in the near future. However, the magnitude and duration of the impact on our revenues and operations from COVID-19 is uncertain and cannot currently be reasonably estimated at this time. The Company is not aware of any specific event or circumstance that would require an update to its accounting estimates or adjustments to the carrying value of its assets and liabilities as August 6, 2020, the issuance date of this Quarterly Report on Form 10-Q. Actual results could differ from those estimates, particularly if the Company experiences material impacts to the carrying value of its assets and liabilities from COVID-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). The core principle of Topic 606 is that an entity should recognize revenue to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The standard explains that to achieve the core principle, an entity should take the following actions:

Step 1: Identify the contract with a customer

Step 2: Identify the performance obligations in the contract

Step 3: Determine the transaction price

Step 4: Allocate the transaction price

Step 5: Recognize revenue when or as the entity satisfies a performance obligation

Revenue is recognized when or as a company satisfies a performance obligation by transferring a promised good or service to a customer (which is when the customer obtains control of that good or service). 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 to account for these activities as fulfillment costs and not as performance obligations.

We generally reference customer purchase orders to determine the existence of a contract. Orders that are not accompanied by a purchase order are confirmed with the customer either in writing or verbally. The purchase orders or similar correspondence, once accepted, identify the performance obligations as well as the transaction price, and otherwise outline the rights and obligations of each party. We allocate the transaction price of each contract among the performance obligations in accordance with the pricing of each item specified on the purchase order, which is in turn based on standalone selling prices per our published price lists. In cases where we discount products or provide certain items free of charge, we allocate the discount proportionately to all performance obligations, unless it can be demonstrated that the discount should be allocated entirely to one or more, but not all, of the performance obligations.

We recognize revenue, net of allowances for returns and discounts, fees paid to group purchasing organizations, and any sales and value added taxes required to be invoiced, which we have elected to exclude from the measurement of the transaction price as allowed by the standard, at the time of shipment (taking into consideration contractual shipping terms), or in the case of consigned inventory, when it is consumed. Shipment is the point at which control of the product and title passes to our customers, and at which LeMaitre 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 carry any contract assets or contract liabilities, as there are generally no unbilled amounts due from customers under contracts for which we have partially satisfied performance obligations, or amounts received from customers for which we have not satisfied performance obligations. We satisfy our performance obligations under revenue contracts within a very short time period from receipt of the orders, and payments from customers are typically received within 30 to 60 days of fulfillment of the orders, except in certain geographies such as Spain and Italy where the payment cycle is customarily longer. Accordingly, there is no significant financing component to our revenue contracts. Additionally, we have elected as a policy that incremental costs (such as commissions) incurred to obtain contracts are expensed as incurred, due to the short-term nature of the contracts.

Customers returning products may be entitled to full or partial credit based on the condition and timing of the return. To be accepted, a returned product must be unopened (if sterile), unadulterated, and undamaged, must have at least 18 months remaining prior to its expiration date, or twelve months for our hospital customers in Europe, and generally be returned within 30 days of shipment. These return policies apply to sales to both hospitals and distributors. The amount of products returned to us, either for exchange or credit, has not been material. Nevertheless, we provide for an allowance for future sales returns based on historical returns experience, which requires judgment. Our cost of replacing defective products has not been material and is accounted for at the time of replacement.

New Accounting Pronouncements, Policy [Policy Text Block]

Recent Accounting Pronouncements

In December 2019, the FASB issued ASU 2019-12 Income Taxes (Topic 740), which simplifies the accounting for income taxes by removing certain exceptions to the general principles in Topic 740 as well as clarifying and amending other areas of existing GAAP under Topic 740. The new standard is effective for us beginning January 1, 2021, with early adoption permitted. The adoption of this standard is not expected to have a material impact on our financial statements.

- Definition

Disclosure of accounting policy for revenue from contract with customer.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 17
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130561-203045

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 20
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130566-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 18
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130563-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI http://asc.fasb.org/topic&trid=49130388

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 20
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130566-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 18
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130563-203045

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section 50
-Paragraph 4
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=84158767&loc=d3e18823-107790

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 20
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130566-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 19
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130564-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 20
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130566-203045

+ Details

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 (Tables)

6 Months Ended

Jun. 30, 2020

Notes Tables

Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]

	Six months ended June 30, 2020
	(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 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 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

- Definition

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 3A
-URI http://asc.fasb.org/extlink&oid=109226691&loc=SL51724579-110230

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109222650&loc=d3e1474-107760

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5D
-URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721677-107760

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=109222160&loc=SL51721533-107759

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 3A
-URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721659-107760

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 4B
-URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721665-107760

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109226691&loc=d3e2941-110230

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5C
-URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721675-107760

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721683-107760

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=109222650&loc=d3e1361-107760

Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5A
-URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721671-107760

Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5B
-URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721673-107760

Reference 13: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 4A
-URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721663-107760

+ Details

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 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-year term loan, net of unamortized debt issuance costs of $1,010	$	38,990
Less current portion		(2,000	)
	$	36,990

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 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 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 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 (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 (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 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 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 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 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 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

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 4
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130543-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130545-203045

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 924
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-URI http://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

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 - Reconciliation of Beginning and Ending Amount of Unrecognized Tax Benefits (Details)	6 Months Ended
	Jun. 30, 2020 USD ($)
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 - 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 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 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 Divestitures (Details Textual) € in Millions								3 Months Ended
	Jun. 22, 2020 USD ($)	Oct. 11, 2019 USD ($)	Jul. 12, 2019 USD ($)	Oct. 22, 2018 USD ($)	Oct. 22, 2018 EUR (€)	Sep. 20, 2018 USD ($)	Apr. 05, 2018 USD ($)	Jun. 30, 2020 USD ($)	Jun. 30, 2018 USD ($)	Oct. 22, 2018 EUR (€)
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	$ 90,000,000.0
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		$ 8,000,000.0
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		2,000,000.0
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			$ 8,000,000.0
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	€ 2.0
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						$ 3,000,000.0
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						11,000,000.0
Applied Medical [Member] \| 12 Months Following the Closing Date [Member]
Business Combination, Consideration Transferred, Total						2,000,000.0
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 Divestitures - Assets Acquired and Liabilities Assumed (Details) € in Thousands, $ in Thousands	Jun. 30, 2020 USD ($)	Jun. 22, 2020 USD ($)	Dec. 31, 2019 USD ($)	Oct. 11, 2019 USD ($)	Jul. 12, 2019 USD ($)	Oct. 22, 2018 EUR (€)	Sep. 20, 2018 USD ($)
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 Divestitures - Acquired Intangible Assets and Related Estimated Useful Lives (Details) € in Thousands, $ in Thousands	Jun. 22, 2020 USD ($)	Oct. 11, 2019 USD ($)	Jul. 12, 2019 USD ($)	Oct. 22, 2018 EUR (€)	Sep. 20, 2018 USD ($)
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 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 Divestitures - Asset Purchase Agreement (Details) - Reddick Divestiture [Member] $ in Thousands	Apr. 05, 2018 USD ($)
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 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 Intangibles - Schedule of Goodwill (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2020 USD ($)
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 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 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 Intangibles - Estimated Amortization Expense for Each of Five Succeeding Fiscal Years (Details) $ in Thousands	Jun. 30, 2020 USD ($)
2020	$ 3,146
2021	6,258
2022	6,053
2023	5,979
2024	5,783
2025	$ 5,545

Note 6 - Revolving Line of Credit and Long-term Debt (Details Textual) - Senior Secured Credit Facility [Member] - USD ($)		3 Months Ended
	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	$ 1,000,000.0
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 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 Credit and Long-term Debt - Five Year Term Loan (Details) (Parentheticals) - Term Loan [Member] - Senior Secured Credit Facility [Member] - USD ($) $ in Thousands		3 Months Ended
	Jun. 22, 2020	Jun. 30, 2020
Term (Year)	5 years	5 years
Debt issuance costs		$ 1,010

Note 7 - Leases (Details Textual) $ in Thousands	Jun. 30, 2020 USD ($) 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 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 Rental Commitments (Details) $ in Thousands	Jun. 30, 2020 USD ($)
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 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 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 Enterprise-wide Disclosures (Details Textual)	6 Months Ended
	Jun. 30, 2020
Number of Operating Segments	1

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

- Definition

Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130545-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 4
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130543-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 924
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-URI http://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

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 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 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 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

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22583-107794

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22694-107794

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=121326447&loc=d3e1448-109256

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22595-107794

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22694-107794

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=121326447&loc=d3e1337-109256

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 52
-URI http://asc.fasb.org/extlink&oid=120380238&loc=d3e4984-109258

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(23))
-URI http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=120380238&loc=d3e3842-109258

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 7
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22644-107794

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(25))
-URI http://asc.fasb.org/extlink&oid=120395209&loc=SL114868664-224227

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=121326447&loc=d3e1252-109256

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 60B
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=121326447&loc=SL5780133-109256

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(27))
-URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

+ Details

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 52
-URI http://asc.fasb.org/extlink&oid=120380238&loc=d3e4984-109258

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 7
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22644-107794

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=120380238&loc=d3e3842-109258

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=121326447&loc=d3e1252-109256

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22694-107794

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22595-107794

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22583-107794

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 60B
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=121326447&loc=SL5780133-109256

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(27))
-URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(23))
-URI http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22694-107794

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=121326447&loc=d3e1337-109256

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(25))
-URI http://asc.fasb.org/extlink&oid=120395209&loc=SL114868664-224227

+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

Note 12 - Stockholders' Equity (Details Textual) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions								3 Months Ended		6 Months Ended		17 Months Ended
	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. 04, 2020	Mar. 19, 2020	Dec. 05, 2019	Sep. 05, 2019	Jun. 05, 2019	Apr. 05, 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													$ 10.0
Treasury Stock, Shares, Acquired (in shares)												0

Note 12 - Stockholders' Equity - Dividend Activity (Details) - USD ($) $ / shares in Units, $ in Thousands							3 Months Ended		6 Months Ended
	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. 04, 2020	Mar. 19, 2020	Dec. 05, 2019	Sep. 05, 2019	Jun. 05, 2019	Apr. 05, 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 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 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			2,000,000.0
Business Combination, Contingent Consideration, Liability, Total				$ 2,000,000.0
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			$ 5,000,000.0
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 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 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)

- Definition

Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.

+ References + Details

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