MERIT MEDICAL SYSTEMS INC MMSI Income Statement

Merit medical systems inc (MMSI)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Sep'10	Jun'10
NET SALES
243,525	257,922	243,049	255,532	238,349	233,249	221,659	224,810	203,035	190,897	179,337	186,549	171,069	157,715	156,975	151,071	138,077	138,404	136,086	138,082	129,577	132,780	128,808	128,865	119,236	120,016	115,210	109,875	103,948	102,231	95,907	100,532	95,618	91,092	90,477	91,249	86,631	73,172	74,948
COST OF SALES
139,741	146,292	138,913	143,568	133,713	128,583	119,620	124,801	114,979	105,241	98,823	102,408	95,127	87,459	89,160	84,217	77,977	78,097	76,881	77,196	74,194	72,646	71,387	73,241	67,193	66,657	64,180	62,890	60,955	56,768	50,572	53,508	51,448	48,947	49,423	48,765	46,846	41,925	42,490
GROSS PROFIT
103,784	111,630	104,136	111,964	104,636	104,666	102,039	100,009	88,056	85,656	80,514	84,141	75,942	70,256	67,815	66,854	60,100	60,307	59,205	60,886	55,383	60,134	57,421	55,624	52,043	53,359	51,030	46,985	42,993	45,463	45,335	47,024	44,170	42,145	41,054	42,484	39,785	31,247	32,458
OPERATING EXPENSES:
Selling, general and administrative
78,808	82,091	86,936	79,977	78,270	75,628	66,382	69,095	64,913	59,238	54,716	57,409	57,771	45,843	53,198	43,653	41,704	40,941	39,201	39,321	36,885	36,212	36,328	38,591	36,763	33,607	31,350	31,557	32,128	33,468	28,880	30,211	29,547	28,028	25,708	26,175	24,591	22,480	19,939
Research and development
14,872	16,253	16,987	16,332	16,043	15,369	14,525	15,316	14,322	12,727	12,838	13,313	12,525	11,788	11,424	11,429	10,588	11,421	10,515	9,202	9,672	9,523	8,688	9,641	8,780	8,822	7,308	8,648	9,108	7,665	7,098	6,591	6,441	6,091	5,401	5,462	4,984	3,865	3,742
Impairment and other charges
3,845	20,502	2,700	548	0	-	657	0	-	-	0	-	-	-	-	-	-	-	-	-	-	-	1,102	-	-	-	8,089	-	-	-	17	-	-	-	-	-	-	-	-
Contingent consideration expense
-4,897	3,805	-392	-2,406	-775	255	661	-178	-40	337	-20	18	-37	38	94	-91	-102	105	58	-121	-122	-182	773	-8	-11	-	4,108	-	-	-	-	-	-	-	-	-	-	-	-
Fair value adjustments recorded to income during the period
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-
Acquired in-process research and development
-	0	0	500	25	263	75	306	0	-	12,061	75	-	-	300	100	-	-	1,000	-	-	-	0	-	-	-	-	-	-	0	275	2,000	175	2,400	3,438	0	0	0	-
Goodwill impairment charge
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	8,344	-
Total operating expenses
102,422	115,039	107,017	99,763	95,113	91,005	80,978	84,895	79,275	72,437	79,635	70,779	70,333	57,654	64,828	55,273	52,394	52,257	50,658	48,644	46,679	45,917	45,345	48,240	45,554	42,443	42,639	40,205	41,236	41,133	36,253	38,802	36,163	36,519	34,547	31,637	29,575	34,689	23,681
INCOME FROM OPERATIONS
1,362	-3,409	-2,881	12,201	9,523	13,661	21,061	15,114	8,781	13,219	879	13,362	5,609	12,602	2,987	11,581	7,706	8,050	8,547	12,242	8,704	14,217	12,076	7,384	6,489	10,916	8,391	6,780	1,757	4,330	9,082	8,222	8,007	5,626	6,507	10,847	10,210	-3,442	8,777
OTHER INCOME (EXPENSE):
Interest income
79	-1,318	328	342	357	352	359	342	146	115	94	89	83	27	29	16	9	62	78	79	53	30	41	79	67	55	69	74	57	50	57	71	48	77	36	14	2	7	12
Interest expense
3,144	3,119	3,415	3,115	2,764	2,295	2,329	3,338	2,398	1,801	1,590	1,639	2,706	2,679	3,022	1,768	1,329	1,453	1,489	1,713	1,574	1,862	2,008	2,353	2,606	2,747	1,916	1,842	1,539	252	128	112	112	34	19	311	425	95	15
Gain on bargain purchase
-	-	-	-	-	-	-	-	-	243	-778	-669	12,243	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other expense - net
-289	-116	278	-429	-270	492	294	-553	-170	-496	-810	170	264	-327	1	33	-480	-105	-476	-85	280	-34	144	-28	-64	-42	-104	-7	-63	-2,278	26	633	-26	107	159	68	11	18	65
Total other expense - net
-3,354	-4,553	-2,809	-3,202	-2,677	-1,451	-1,676	-3,549	-2,422	-1,939	-3,084	-2,049	9,884	-2,979	-2,992	-1,719	-1,800	-1,496	-1,887	-1,719	-1,241	-1,866	-1,823	-2,302	-2,603	-2,734	-1,951	-1,775	-1,545	-2,480	-45	592	-90	150	176	-229	-412	-70	62
INCOME (LOSS) BEFORE INCOME TAXES
-1,992	-7,962	-5,690	8,999	6,846	12,210	19,385	11,565	6,359	11,280	-2,205	11,313	15,493	9,623	-5	9,862	5,906	6,554	6,660	10,523	7,463	12,351	10,253	5,082	3,886	8,182	6,440	5,005	212	1,850	9,037	8,814	7,917	5,776	6,683	10,618	9,798	-3,512	8,839
INCOME TAX EXPENSE
1,162	-3,709	-2,300	2,100	651	3,002	2,800	600	1,100	4,474	1,364	1,830	690	2,116	-978	2,572	1,555	145	1,842	3,122	2,289	3,680	2,489	1,366	1,063	1,642	833	1,253	-459	1,209	1,811	2,719	2,169	806	2,120	3,746	3,159	-1,539	3,124
NET INCOME (LOSS)
-3,154	-4,205	-3,398	6,859	6,195	9,188	16,619	10,941	5,269	6,806	-3,569	9,483	14,803	7,507	973	7,290	4,351	6,409	4,818	7,401	5,174	8,671	7,764	3,716	2,823	6,540	5,607	3,752	671	641	7,226	6,095	5,748	4,970	4,563	6,872	6,639	-1,973	5,715
EARNINGS (LOSS) PER COMMON SHARE:
Basic (in dollars per share)
-0.06	-0.07	-0.06	0.12	0.11	0.17	0.31	0.22	0.10	0.11	-0.07	0.19	0.33	0.17	0.02	0.16	0.10	0.14	0.11	0.17	0.12	0.19	0.18	0.09	0.07	0.15	0.13	0.09	0.02	0.02	0.17	0.14	0.14	0.10	0.11	0.19	0.19	-0.06	0.16
Diluted (in dollars per share)
-0.06	-0.07	-0.06	0.12	0.11	0.17	0.30	0.21	0.10	0.11	-0.07	0.19	0.32	0.17	0.02	0.16	0.10	0.13	0.11	0.17	0.12	0.19	0.18	0.09	0.07	0.15	0.13	0.09	0.02	0.01	0.17	0.14	0.14	0.11	0.11	0.18	0.18	-0.06	0.16
AVERAGE COMMON SHARES:
Basic (in shares)
55,246	55,214	55,152	55,017	54,917	54,891	53,431	50,473	50,277	50,283	50,150	49,957	44,830	44,602	44,447	44,308	44,275	44,221	44,165	44,055	43,703	43,417	43,229	43,061	42,865	42,750	42,596	42,562	42,520	42,455	42,202	42,048	41,999	42,038	41,909	36,804	35,593	35,293	35,243
Diluted (in shares)
55,246	56,743	55,152	56,555	56,490	56,557	55,103	52,154	51,910	51,797	51,599	51,188	45,820	45,166	45,000	44,703	44,579	44,648	44,734	44,517	44,145	43,694	43,398	43,310	43,234	43,159	42,872	42,670	42,835	42,843	42,692	42,469	42,436	42,499	42,502	37,677	36,254	35,293	35,911