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LeMaitre Vascular Reports Q3 2007 Revenue of $10.1 Million, a 19% Increase
Date:11/5/2007

BURLINGTON, Mass., Nov. 5 /PRNewswire-FirstCall/ -- LeMaitre Vascular, Inc. (Nasdaq: LMAT) (the "Company"), a provider of peripheral vascular devices and implants, today announced Q3 2007 financial results. Revenues for Q3 2007 were $10.1 million, an increase of 19% over Q3 2006.

Q3 2007 revenues increased 33% in the Company's Endovascular and Dialysis Access category, 15% in the Vascular category, and 3% in the General Surgery category. Sales growth was driven by the continued acceleration of the endovascular procedure market, relatively strong sales within the vascular category, productivity gains from recently hired sales representatives, and the distribution of the Powerlink stent graft in Europe.

For Q3 2007, the Company reported a gross margin of 74.7%, versus 73.3% in Q3 2006. The Company ended Q3 2007 with $25.6 million in cash and marketable securities, compared with $27.9 million at the end of Q2 2007.

On September 20, 2007, the Company acquired the assets of Vascular Architects, a company that marketed and sold a suite of five instruments for Remote Endarterectomy ("RE"), as well as a helical covered stent. RE is a minimally invasive procedure for the removal of plaque, typically in the superficial femoral artery in the thigh. The $2.8 million all-cash purchase price represents a 1.6 multiple of Vascular Architects' annual revenues of $1.8 million.

Also during Q3 2007, LeMaitre Vascular announced plans to launch a direct sales force in Italy in January 2008. The Company has sold its products in Italy through Serom Medical Technologies srl since 1993. LeMaitre Vascular and Serom agreed to terminate Serom's exclusive rights effective January 25, 2008, in exchange for the payment of an
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SOURCE LeMaitre Vascular, Inc.
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