MERIT MEDICAL SYSTEMS INC MMSI Income Statement

Merit medical systems inc (MMSI)

Income statement / TTM

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
1,000,028	994,852	970,179	948,789	918,067	882,753	840,401	798,079	759,818	727,852	694,670	672,308	636,830	603,838	584,527	563,638	550,649	542,149	536,525	529,247	520,030	509,689	496,925	483,327	464,337	449,049	431,264	411,961	402,618	394,288	383,149	377,719	368,436	359,449	341,529	326,000	0	0	0
COST OF SALES
568,514	562,486	544,777	525,484	506,717	487,983	464,641	443,844	421,451	401,599	383,817	374,154	355,963	338,813	329,451	317,172	310,151	306,368	300,917	295,423	291,468	284,467	278,478	271,271	260,920	254,682	244,793	231,185	221,803	212,296	204,475	203,326	198,583	193,981	186,959	180,026	0	0	0
GROSS PROFIT
431,514	432,366	425,402	423,305	411,350	394,770	375,760	354,235	338,367	326,253	310,853	298,154	280,867	265,025	255,076	246,466	240,498	235,781	235,608	233,824	228,562	225,222	218,447	212,056	203,417	194,367	186,471	180,776	180,815	181,992	178,674	174,393	169,853	165,468	154,570	145,974	0	0	0
OPERATING EXPENSES:
Selling, general and administrative
327,812	327,274	320,811	300,257	289,375	276,018	259,628	247,962	236,276	229,134	215,739	214,221	200,465	184,398	179,496	165,499	161,167	156,348	151,619	148,746	148,016	147,894	145,289	140,311	133,277	128,642	128,503	126,033	124,687	122,106	116,666	113,494	109,458	104,502	98,954	93,185	0	0	0
Research and development
64,444	65,615	64,731	62,269	61,253	59,532	56,890	55,203	53,200	51,403	50,464	49,050	47,166	45,229	44,862	43,953	41,726	40,810	38,912	37,085	37,524	36,632	35,931	34,551	33,558	33,886	32,729	32,519	30,462	27,795	26,221	24,524	23,395	21,938	19,712	18,053	0	0	0
Impairment and other charges
27,595	23,750	3,905	1,205	0	-	0	0	-	-	0	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	0	-	-	-	0	-	-	-	-	-	-	-	-
Contingent consideration expense
-3,890	232	-3,318	-2,265	-37	698	780	99	295	298	-1	113	4	-61	6	-30	-60	-80	-367	348	461	572	4,862	0	0	-	0	-	-	-	-	-	-	-	-	-	-	-	-
Fair value adjustments recorded to income during the period
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-
Acquired in-process research and development
-	525	788	863	669	644	12,442	12,442	0	-	0	0	-	-	0	0	-	-	0	-	-	-	0	-	-	-	-	-	-	2,450	4,850	8,013	6,013	5,838	3,438	0	0	0	-
Goodwill impairment charge
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-
Total operating expenses
424,241	416,932	392,898	366,859	351,991	336,153	317,585	316,242	302,126	293,184	278,401	263,594	248,088	230,149	224,752	210,582	203,953	198,238	191,898	186,585	186,181	185,056	181,582	178,876	170,841	166,523	165,213	158,827	157,424	152,351	147,737	146,031	138,866	132,278	130,448	119,582	0	0	0
INCOME FROM OPERATIONS
7,273	15,434	32,504	56,446	59,359	58,617	58,175	37,993	36,241	33,069	32,452	34,560	32,779	34,876	30,324	35,884	36,545	37,543	43,710	47,239	42,381	40,166	36,865	33,180	32,576	27,844	21,258	21,949	23,391	29,641	30,937	28,362	30,987	33,190	24,122	26,392	0	0	0
OTHER INCOME (EXPENSE):
Interest income
-569	-291	1,379	1,410	1,410	1,199	962	697	444	381	293	228	155	81	116	165	228	272	240	203	203	217	242	270	265	255	250	238	235	226	253	232	175	129	59	35	0	0	0
Interest expense
12,793	12,413	11,589	10,503	10,726	10,360	9,866	9,127	7,428	7,736	8,614	10,046	10,175	8,798	7,572	6,039	5,984	6,229	6,638	7,157	7,797	8,829	9,714	9,622	9,111	8,044	5,549	3,761	2,031	604	386	277	476	789	850	846	0	0	0
Gain on bargain purchase
-	-	-	-	-	-	-	-	-	11,039	10,796	11,574	12,243	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other expense - net
-556	-537	71	87	-37	63	-925	-2,029	-1,306	-872	-703	108	-29	-773	-551	-1,028	-1,146	-386	-315	305	362	18	10	-238	-217	-216	-2,452	-2,322	-1,682	-1,645	740	873	308	345	256	162	0	0	0
Total other expense - net
-13,918	-13,241	-10,139	-9,006	-9,353	-9,098	-9,586	-10,994	-9,494	2,812	1,772	1,864	2,194	-9,490	-8,007	-6,902	-6,902	-6,343	-6,713	-6,649	-7,232	-8,594	-9,462	-9,590	-9,063	-8,005	-7,751	-5,845	-3,478	-2,023	607	828	7	-315	-535	-649	0	0	0
INCOME (LOSS) BEFORE INCOME TAXES
-6,645	2,193	22,365	47,440	50,006	49,519	48,589	26,999	26,747	35,881	34,224	36,424	34,973	25,386	22,317	28,982	29,643	31,200	36,997	40,590	35,149	31,572	27,403	23,590	23,513	19,839	13,507	16,104	19,913	27,618	31,544	29,190	30,994	32,875	23,587	25,743	0	0	0
INCOME TAX EXPENSE
-2,747	-3,258	3,453	8,553	7,053	7,502	8,974	7,538	8,768	8,358	6,000	3,658	4,400	5,265	3,294	6,114	6,664	7,398	10,933	11,580	9,824	8,598	6,560	4,904	4,791	3,269	2,836	3,814	5,280	7,908	7,505	7,814	8,841	9,831	7,486	8,490	0	0	0
NET INCOME (LOSS)
-3,898	5,451	18,844	38,861	42,943	42,017	39,635	19,447	17,989	27,523	28,224	32,766	30,573	20,121	19,023	22,868	22,979	23,802	26,064	29,010	25,325	22,974	20,843	18,686	18,722	16,570	10,671	12,290	14,633	19,710	24,039	21,376	22,153	23,044	16,101	17,253	0	0	0
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