What happened After the company reported third-quarter earnings, shares of LeMaitre Vascular (NASDAQ: LMAT), a medical device maker focused on vascular surgery, fell 18% as of 11:35 a.m. EDT on Friday. So what Here's an overview of the headline numbers from the quarter: Revenue grew 7% to $24.8 million. However, on an organic basis, sales declined by 2%. Both of these figures came in below management's guidance. Gross margin dropped by 250 basis points to 70.8% as a result of product and geographic mix. U.S. sales grew 6% while international sales increased 8%. Operating income fell 5% to $5.1 million. Net income soared 56% to $5 million, or $0.25 per share, handily surpassing Wall Street's estimate of $0.20. However, the beat was largely driven by a huge reduction in income tax expenses. Cash balance at quarter-end was $37.5 million. Turning to guidance, here's what management is projecting: Fourth-quarter revenue of between $25.8 million and $26.6 million. The midpoint of this range is below Wall Street's expectations of $26.6 million. Fourth-quarter EPS between $0.19 and $0.21, which fits nicely around analyst expectations of $0.20. Full-year 2017 sales guidance range reduced to $100.6 million to $101.4 million. That's down from management's prior call for $101.9 million in total revenue. Full-year 2017 EPS guidance raised to $0.84, a 53% year-over-year increase. The lower-than-hoped for quarterly revenue result and guidance has put traders in a foul mood. Image source: Getty Images. Now what LeMaitre's stock had gained more than 50% since the start of the year prior to today's plunge. That's a heck of a bull move in a short period of time, so I'm not completely surprised by today's market's reaction. However, on the company's conference call with investors, CEO George LeMaitre stated that the year-ago quarter was a difficult comparison because one of its competitors' products was on backorder. What's more, the hurricanes in Texas and Florida reduced sales by $250,000. If you are willing to adjust for those one-time items, then the company's performance wasn't as bad as it appears. Zooming out to the big picture, LeMaitre continues to operate in a profitable market niche and is executing reasonably well against its long-term plan. While shares are still quite expensive, today's drop represents a nice entry point for growth-focused investors. 10 stocks we like better than LeMaitre VascularWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the 10 best stocks for investors to buy right now... and LeMaitre Vascular wasn't one of them! That's right -- they think these 10 stocks are even better buys. Click here to learn about these picks! *Stock Advisor returns as of October 9, 2017Brian Feroldi has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.