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. manufactures protective clothing and apparel for industry, healthcare and first responders under the Lakeland Fire + Safety identity. News about LAKE commonly covers fiscal results, cash flow and portfolio actions, including the completed sale of the HPFR and HiViz product lines and the company’s focus on Fire Services and core industrial personal protective equipment.
Company updates also track firefighter PPE certifications and launches, including NFPA 1970:2025 certified turnout gear, gloves, hoods, helmets, boots and proximity gear across its brand portfolio. Recurring developments include customer orders for fire gear, EMEA fire sales activity, LHD Germany operating changes, logistics initiatives and leadership updates tied to the company’s global fire and industrial safety platform.
Lakeland Industries reported fiscal 2023 Q2 net sales of $28.2 million, reflecting a 3.3% sequential increase and 2.6% year-over-year growth. The gross margin improved to 41.3%, above the long-term target of 40%. However, the company faced a net loss of $0.9 million, translating to ($0.11) per share. Non-GAAP net income stood at $1.1 million or $0.15 per share. Cash and equivalents decreased to $41.2 million, driven by operational cash use. Despite challenges like currency fluctuations and potential economic slowdown, Lakeland remains optimistic about long-term revenue growth.
Lakeland Industries (NASDAQ:LAKE) will release its fiscal 2023 second quarter financial results on September 8, 2022, after market close. A conference call hosted by CEO Charles D. Roberson and CFO Allen E. Dillard will follow at 4:30 PM Eastern. Investors can participate by calling 888-506-0062 (Domestic) or 973-528-0011 (International). A replay will be available until September 15, 2022. Lakeland manufactures protective clothing for various industries and sells globally through a vast network of distributors.
Lakeland Industries (NASDAQ: LAKE) announced a leadership change as Executive Chairman Christopher J. Ryan plans to step down in 2023, though he will remain on the Board of Directors. Jim Jenkins, a Board member since 2016, has been appointed as Vice Chairman. Jenkins expressed excitement about continuing to work with management to enhance business growth, emphasizing a bright future for Lakeland as it navigates the post-pandemic landscape. The Board aims for a smooth transition to ensure governance and the company's growth trajectory.
Lakeland Industries (NASDAQ: LAKE) reported a 20% decline in net sales for Q1 FY2023, totaling $27.3 million, primarily due to reduced COVID-19 demand and slow recovery in industrial markets. The gross profit was $11.1 million, achieving a gross margin of 40.5%—exceeding the long-term target of 40%. Net income fell to $1.1 million or $0.15 per share from $5.0 million or $0.63 in Q1 FY2022. Operating profit also decreased significantly to $1.4 million.
Lakeland Industries (NASDAQ:LAKE) is set to release its fiscal 2023 first quarter financial results on June 9, 2022, after market close. A conference call will follow at 4:30 p.m. Eastern, hosted by CEO Charles D. Roberson and CFO Allen E. Dillard. Investors can participate via phone. Lakeland is recognized for its protective clothing across various sectors, including industrial and healthcare, selling to over 1,600 global distributors. The company also supplies numerous government agencies and operates internationally.
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.