Welcome to our dedicated page for Lakeland Inds news (Ticker: LAKE), a resource for investors and traders seeking the latest updates and insights on Lakeland Inds stock.
Lakeland Industries, Inc. (NASDAQ: LAKE), also known as Lakeland Fire + Safety, generates news focused on protective clothing and services for industrial users, healthcare customers and first responders. As a global manufacturer of fire services and industrial protective clothing and accessories, and a provider of decontamination, inspection, repair and rental services for firefighter PPE, the company regularly reports on developments that are relevant to safety professionals and investors alike.
News about LAKE often covers financial and operational results, including quarterly earnings updates where management discusses net sales, gross margin trends, regional performance and the contribution of fire services products. These releases may highlight growth in specific geographies such as the United States, Europe, Asia and Latin America, as well as the impact of acquisitions and service expansion on revenue mix.
Lakeland also issues announcements on strategic contracts and tenders. Recent examples include a multi‑year contract through Lakeland LHD to provide advanced decontamination, managed care and maintenance services for the Hong Kong Fire Services Department’s firefighter protective gear, and orders from the Fire and Rescue Department of Malaysia for firefighter personal protective equipment. The company has also reported on a fire equipment tender awarded by Argentina’s National Civil Aviation Administration, involving products across brands such as Eagle, Veridian, Pacific and Lakeland proximity suits.
Product and certification milestones are another recurring theme in LAKE news. The company has highlighted the NFPA 1970:2025 certification of its Lakeland Ultimate Glow+ Leather Firefighting Gloves‑NFPA 321 Series, describing it as the first NFPA 1970:2025 certificated product in its portfolio. In addition, Lakeland reports on acquisitions and facility expansions, such as the purchases of Arizona PPE and California PPE and the expansion of California PPE’s facility in Fresno, California, which support its PPE decontamination, inspection, repair and rental services.
Investors and industry participants following LAKE news can expect updates on dividends declared by the Board of Directors, conference call schedules for earnings discussions and commentary on market conditions affecting industrial and fire services demand. This news feed aggregates these company‑specific developments so readers can review financial disclosures, contract awards, product certifications and service platform updates related to Lakeland Industries, Inc.
Lakeland Industries (NASDAQ: LAKE) reported a 27% decline in net sales for the fiscal 2022 fourth quarter, totaling $26.8 million, due to reduced COVID-19 demand. Gross margins were 39.2%, aligning with long-term goals despite facing supply chain and inflation challenges. Net income fell to $0.5 million, a drop from $7.7 million in Q4 2021. For the full year, revenues decreased to $118.4 million from $159.0 million, with adjusted EBITDA down to $19.6 million. The company announced a new $5 million stock repurchase program, indicating management's confidence in future growth.
Lakeland Industries (NASDAQ:LAKE) has announced a new stock repurchase program, allowing for the buyback of up to $5 million of its common stock. This program follows the existing one, which has approximately $800,000 remaining. The new program shows the Board's commitment to optimizing shareholder value and confidence in the company's growth prospects. Repurchases will depend on market conditions, with no set expiration and flexibility in execution, reinforcing a balanced capital allocation strategy to enhance shareholder returns.
Lakeland Industries (NASDAQ:LAKE) announced that it will release its fiscal 2022 fourth quarter and full year financial results on April 18, 2022, after market close. The company will host a conference call the same day at 4:30 p.m. Eastern, featuring leadership including President and CEO Charles D. Roberson. This call is accessible via specific phone numbers for domestic and international participants. The company specializes in manufacturing protective clothing for various industries and governmental agencies, selling products globally through a network of distributors.
Lakeland Industries, Inc. (NASDAQ:LAKE) will announce its fiscal 2022 fourth quarter and full year financial results on April 14, 2022, post-market. A conference call with President & CEO Charles D. Roberson and CFO Allen E. Dillard will follow at 4:30 p.m. Eastern. Investors can join via phone at 877-545-0320 (Domestic) or 973-528-0002 (International). The company specializes in manufacturing protective clothing for various sectors, including industrial and healthcare, and sells globally through over 1,600 distributors.
Lakeland Industries (NASDAQ:LAKE) announced the promotion of Allen E. Dillard to Chief Operating and Financial Officer, effective January 1, 2022. Dillard, who has been with the company since August 2019 as Chief Financial Officer, will expand his responsibilities to include manufacturing, planning, and procurement. Under his leadership, Lakeland has navigated the COVID-19 pandemic and focused on global growth. The company highlighted Dillard's experience and achievements that have positively impacted their operational and financial strategies.
Lakeland Industries reported net sales of $30.0 million for Q3 FY22, reflecting a 9% sequential increase from Q2 but a decline from $41.5 million in Q3 FY21. COVID-19 related sales rose to $6.0 million, driven by demand in Asia. Gross profit decreased to $12.6 million, with margins at 42.1%, down from 52.3% year-over-year. The company maintained operational discipline with operating profit reaching $4.1 million. Lakeland made strategic investments, including $2.8 million in Bodytrak and repurchased shares worth $0.9 million.
Lakeland Industries, Inc. (NASDAQ:LAKE) announced it will release its fiscal 2022 third quarter financial results on December 9, 2021, after market close. A conference call with President and CEO Charles D. Roberson and CFO Allen E. Dillard will follow at 4:30 PM ET. Investors can join by calling 888-506-0062 (domestic) or 973-528-0011 (international). The company provides protective clothing for various sectors, including healthcare and first responders, and sells products globally to an extensive distributor network.
Lakeland Industries (NASDAQ:LAKE) announced its participation in the 12th Annual Craig-Hallum Alpha Select Conference on November 16, 2021. The event will be held virtually from 9:00 a.m. to 5:00 p.m. ET. Management, including CEO Charles D. Roberson and CFO Allen E. Dillard, will be available for meetings. Interested investors should contact their Craig-Hallum representative or Jordan Darrow from Darrow Associates. Presentation materials will be accessible on the Company’s website on the conference day.
Lakeland Industries (NASDAQ:LAKE) announced a strategic investment of approximately $2.7 million in Inova Design Solutions Ltd. (Bodytrak), marking its entry into the growing Connected Worker Market for Smart PPE. Bodytrak's innovative ear-based sensor platform automates health and safety monitoring, making it a valuable addition to Lakeland's product lineup. With projections indicating a $1.9 billion growth in this market by 2024, Lakeland's investment represents a significant move towards enhancing its technological capabilities and profitability.
Lakeland Industries (NASDAQ:LAKE) reported fiscal 2022 second quarter results with net sales of $27.5 million, a decline from $35.0 million in 2Q21. COVID-19 related sales dropped to approximately $3.5 million, down from $14.0 million a year prior. Gross profit decreased to $12.7 million with a gross margin of 46.3%. Net income fell to $2.6 million or $0.32 per share, significantly lower than $9.3 million or $1.17 per share in the same period last year. Despite challenges, the company reported cash of $59.8 million and no debt, indicating solid financial health.
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