Lakeland Inds - LAKE STOCK NEWS

Lakeland Fire + Safety (NASDAQ: LAKE) has completed a transformative fiscal year 2025, marked by four strategic acquisitions in the fire protection sector. The company successfully raised $46.0 million through an oversubscribed public equity offering, strengthening its balance sheet and enabling debt repayment that will save approximately $2.5 million annually in interest.

Key acquisitions include Pacific Helmets NZ (helmets), Jolly Scarp (professional footwear), LHD Group Deutschland (turnout gear and decontamination services), and Veridian (protective apparel). These acquisitions expand Lakeland's global presence across North America, Europe, Asia, Oceania, LATAM, and the Middle East.

The company has also strengthened its management team with new executives, including Barry Phillips as Chief Revenue Officer and Cameron Stokes as Chief Commercial Officer, Global Industrial, to drive sales initiatives and market expansion in the $2.0 billion fire protection sector.

Lakeland Industries (NASDAQ: LAKE) announced its subsidiary Lakeland LHD has secured a contract renewal with Fire and Emergency New Zealand (FENZ) for up to 12 years. The initial contract period is five years, with extension provisions up to twelve years. The agreement covers the supply of KIWI 2.0 L2 structural fire ensembles, including fitment, delivery, decontamination services, and logistics management for protective gear.

The contract encompasses an estimated 1,600 to 2,000 ensembles annually and extends a 22-year relationship with FENZ, which oversees more than 650 stations and serves approximately 2,000 paid and 12,000 volunteer firefighters across New Zealand. The decontamination service focuses on removing harmful carcinogens to enhance firefighter safety.

Lakeland Industries (NASDAQ: LAKE), a global manufacturer of protective clothing and apparel, has announced a quarterly cash dividend declaration. The company's Board of Directors has approved a dividend of $0.03 per share for its fiscal first quarter of 2026. The dividend will be distributed on February 24, 2025, to shareholders who are recorded as stockholders as of February 17, 2025.

Lakeland Industries (NASDAQ:LAKE) has been awarded contract EE 11-24 through the Houston-Galveston Area Council (H-GAC) Board, enabling over 9,000 local government entities across the United States to access Lakeland's firefighter protective gear through the HGACBuy Program. The program provides a streamlined procurement process with competitive, volume-based pricing.

The contract strengthens Lakeland's position as a supplier of critical equipment for first responders, offering emergency medical, fire safety, and rescue equipment. The company's portfolio includes chemical protective clothing, high-performance Flame Resistant workwear, and critical environments protective apparel, designed for firefighters, emergency responders, and industrial workers in hazardous environments.

Lakeland Fire + Safety (NASDAQ:LAKE) has successfully closed its previously announced public offering, selling 2,093,000 shares of common stock at $22.00 per share, including the full exercise of the underwriter's option for 273,000 additional shares. The offering generated approximately $46.0 million in gross proceeds before deducting underwriting costs and expenses.

The offering attracted participation from new and existing institutional investors, company management, and board members. Roth Capital Partners served as the sole book-running manager, with Lake Street Capital Markets and Maxim Group as co-managers. D.A. Davidson & Co. acted as financial advisor.

The company plans to use the net proceeds to repay certain debt, support operations, and fuel business growth, including working capital and general corporate purposes.

Lakeland Industries (NASDAQ:LAKE) has announced the pricing of its underwritten public offering of 1,820,000 shares of common stock at $22.00 per share, expecting to raise approximately $40.0 million in gross proceeds. The company has granted underwriters a 45-day option to purchase up to 273,000 additional shares to cover over-allotments.

The offering is expected to close on January 24, 2025. Roth Capital Partners is acting as sole book-running manager, with Lake Street Capital Markets and Maxim Group as co-managers. Lakeland plans to use the net proceeds for debt repayment, operations growth, working capital, and general corporate purposes.

Lakeland Industries (NASDAQ:LAKE), a global manufacturer of protective clothing, has announced a proposed underwritten public offering of common stock. The company plans to grant underwriters a 45-day option to purchase up to an additional 15% of shares on the same terms. Roth Capital Partners will serve as the sole book-running manager for the offering.

The net proceeds will be used for repayment of certain indebtedness, operations, business growth, working capital, and general corporate purposes. The offering is subject to market conditions, with no guarantees regarding completion, size, or terms. The offering will be conducted under a previously filed shelf registration statement that became effective on July 23, 2024.

Lakeland Fire + Safety (NASDAQ:LAKE) has completed the acquisition of Veridian, a leading firefighter protective apparel provider, for approximately $25 million in an all-cash transaction. Veridian, founded in 1992, generates annual revenue of about $21 million and employs 150 people in Des Moines, Iowa. The acquisition strengthens Lakeland's competitive position in fire services, particularly in the U.S. and Latin America markets. The deal was financed through Lakeland's revolving credit facility with Bank of America. This strategic move follows Lakeland's 245% year-over-year growth in Fire Services Products during the third quarter. Veridian's owner, Bill Van Lent, will remain as president.

Lakeland Industries (NASDAQ:LAKE) reported record Q3 FY2025 results with net sales increasing 44.5% to $45.8 million, primarily driven by a 245% increase in Fire Services products. Gross profit rose 38.9% to $18.6 million, while gross margin decreased to 40.6% from 42.2% year-over-year.

The company's Fire Services product line generated $19.3 million in sales, representing a significant increase from $5.6 million in the previous year. International sales comprised 66% of total revenues at $30.4 million. Net income decreased to $0.1 million ($0.01 per share) compared to $2.6 million ($0.34 per share) in Q3 FY2024.

Management reaffirmed FY2025 guidance expecting revenue of at least $165 million and Adjusted EBITDA excluding FX of at least $18 million.