Lakeland Industries Inc - LAKE STOCK NEWS

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.

Lakeland Industries (NASDAQ:LAKE), a leading global manufacturer of protective clothing and apparel, has announced its participation in two major investor conferences in December 2024. CEO and Executive Chairman Jim Jenkins and COO Helena An will attend the Benchmark 13th Annual Discovery One-on-One Conference in New York on December 11, while CFO Roger Shannon will be present at the 13th Annual ROTH Deer Valley Event in Park City, Utah, from December 11-14.

Both events will feature one-on-one meetings with institutional investors. Interested parties can schedule meetings through conference representatives or by contacting LAKE@mzgroup.us.

Lakeland Industries (NASDAQ:LAKE), a global manufacturer of protective clothing and apparel, has scheduled its fiscal year 2025 third quarter financial results conference call for Thursday, December 5, 2024, at 4:30 p.m. Eastern Time. The company will release detailed financial results for the quarter ended October 31, 2024, before the call. President, CEO and Executive Chairman Jim Jenkins and CFO Roger Shannon will host the conference call, which will include a presentation and Q&A session. The call will be accessible via telephone and webcast, with replay available through March 5, 2025.

Lakeland Industries (NASDAQ:LAKE), a global manufacturer of protective clothing, announced its Board of Directors has declared a quarterly cash dividend of $0.03 per share for the fourth quarter of 2025. The dividend will be paid on November 22, 2024, to stockholders of record as of November 15, 2024. The company specializes in protective clothing for industry, healthcare, and first responders at federal, state, and local levels.

Lakeland Industries (NASDAQ:LAKE), a leading global manufacturer of protective clothing and apparel, has engaged MZ Group to lead its strategic investor relations and financial communications program. The campaign will highlight Lakeland's revenue growth, particularly in fire services, which saw a 34% year-over-year increase in Q2 FY2025. Lakeland reaffirmed its FY2025 guidance with revenue expected between $160 million - $170 million and Adjusted EBITDA between $18 million - $21.5 million.

MZ Group will focus on increasing Lakeland's visibility in the investment community, emphasizing its $6.0 billion total addressable market and growth strategies. The company's recent acquisition of LHD Group Deutschland GmbH's fire and rescue business enhances its global presence. Lakeland aims to expand its fire turnout business through acquisitions while growing its industrial safety business.