Welcome to our dedicated page for Lakeland Industries news (Ticker: LAKE), a resource for investors and traders seeking the latest updates and insights on Lakeland Industries stock.
Lakeland Industries Inc. (NASDAQ: LAKE) is a prominent global manufacturer of high-performance protective garments designed to ensure safety in various hazardous environments. Headquartered in Ronkonkoma, New York, since 1982, Lakeland serves a broad range of industries including chemical, petrochemical, healthcare, automotive, and more. With a robust annual revenue exceeding $100 million, the company's growth is propelled by continuous innovation through its research and development programs.
Lakeland's product portfolio is diverse, covering segments like Disposables, Chemicals, Fire Services, Gloves, High Visibility, High-Performance Wear, and Wovens. These products are essential for workers in sectors such as integrated oil, chemical/petrochemical, utilities, automobile, steel, glass, construction, and pharmaceuticals. The company's geographical reach extends across the United States, Latin America, Canada, Asia, Mexico, Europe, and other international markets.
Recently, Lakeland has made significant strides in expanding its fire services offerings. The strategic acquisition of Jolly Scarpe, a leading designer and manufacturer of professional footwear for firefighting and rescue operations, enhances Lakeland's ability to provide comprehensive head-to-toe protective solutions. Additionally, the acquisition of LHD Group Deutschland GmbH's fire and rescue business further broadens Lakeland's product range and geographical footprint, particularly in Germany, Australia, and Hong Kong.
The company maintains a strong financial condition, with recent fiscal reports indicating substantial growth in revenue and profitability. Lakeland's commitment to quality and safety has earned it a reputation as a reliable supplier of protective gear, backed by a global network of distributors and sales teams. This network ensures that Lakeland's products meet the stringent safety standards required by industries handling hazardous materials.
In collaboration with LineDrive, a leading sales and marketing firm, Lakeland aims to enhance the availability and delivery of its products across North America. This partnership is expected to increase market penetration and improve the overall safety solutions offered to industrial sectors.
For more information about Lakeland Industries and its comprehensive range of protective clothing and accessories, please visit the company’s website at www.lakeland.com.
Lakeland Industries, a global manufacturer of protective clothing, announced the filing of a shelf registration statement on Form S-3 with the SEC. This registration allows the company to offer and sell various securities, including common stock, preferred stock, debt securities, warrants, rights, and units, subject to market conditions and capital needs. Although there are no immediate plans to sell these securities, the company views this move as a prudent measure to maintain financial flexibility for future opportunities. The statement is currently pending SEC effectiveness. No securities can be sold or offers accepted until then.
Lakeland Industries (NASDAQ: LAKE) has completed the acquisition of LHD Group Deutschland GmbH's fire and rescue business, along with its subsidiaries in Hong Kong and Australia, for approximately $16.3 million.
LHD generates around $27 million in annual revenue and has 111 employees globally.
The acquisition enhances Lakeland's presence in the global fire services market, expanding its reach in Germany, Australia, and Asia.
LHD's product range, including firefighter turnout gear and protective equipment, complements Lakeland's offerings.
The acquisition introduces new revenue streams through LHD's protective clothing maintenance services and retains LHD's skilled workforce.
Lakeland expects the acquisition to immediately contribute to its revenue growth and market expansion.
Lakeland Industries (NASDAQ:LAKE) announced new appointments to its executive leadership team to drive global growth. Barry Phillips joins as Senior Vice President of Global Sales, with over 37 years of experience in sales leadership across safety-focused industries. Cameron Stokes assumes the new role of Vice President of Global Industrial Sales, bringing expertise in industrial safety products and market dynamics. These strategic hires, reporting to CEO Jim Jenkins and Phillips respectively, aim to enhance Lakeland's market share, optimize global sales operations, and foster sustainable growth.
Lakeland Industries (NASDAQ: LAKE), a global manufacturer of protective clothing, has released its financial results for fiscal 2025's first quarter, ending April 30, 2024. The company will host a conference call and live webcast on June 5, 2024, at 12:00 p.m. EDT to discuss these results. The webcast is listen-only, and an audio replay will be available until June 12, 2024. For further details, interested parties can visit Lakeland's Investor Relations website.
Lakeland Industries reported robust financial results for Q1 FY2025, with net sales of $36.3 million, a 27% increase year-over-year. The company saw a notable 92% growth in its fire services business. Organic revenue rose to $32.4 million, up 13%. Gross margin improved to 44.6% from 43.4%. Net income reached $1.7 million, or $0.22 per share, compared to $1.3 million, or $0.18 per share, last year. Adjusted EBITDA increased by 40% to $3.9 million. The company also highlighted the successful acquisitions of Pacific Helmets and Jolly Scarpe, contributing $3.9 million in revenue. Management noted strong growth in North and South America but acknowledged softer performance in Asia.
Lakeland Industries (NASDAQ:LAKE), a global leader in protective clothing for various sectors, announced it will release its fiscal 2025 Q1 financial results on June 4, 2024, after market close.
A conference call, hosted by CEO Jim Jenkins and CFO Roger Shannon, is scheduled for June 5, 2024, at 12:00 p.m. ET, available via live webcast and phone.
The webcast can be accessed on Lakeland's Investor Relations page, while phone participants can dial in with the provided numbers and passcode.
An audio replay will be available until June 12, 2024, with details provided on how to access it.
Lakeland Industries (NASDAQ:LAKE) has appointed James M. Jenkins as its new President and CEO, effective June 1, 2024. Jenkins, who has been with Lakeland in various roles since 2016, including Executive Chairman and Acting CEO, is recognized for his leadership abilities and strategic vision. Prior to this, he significantly increased shareholder returns and revenue at Transcat. The company is focused on leveraging its competitive advantages to drive sustainable growth and profitability, particularly in high-value markets.
Lakeland Industries, a global manufacturer of protective clothing, declared a cash dividend of $0.03 per share for its fiscal second quarter of 2025. The dividend will be paid on May 22, 2024, to stockholders of record as of May 15, 2024.
Lakeland Industries, Inc. (NASDAQ:LAKE) has announced a strategic partnership with LineDrive, a key player in outsourced sales & marketing, to improve the sales and distribution of Lakeland's protective clothing and PPE solutions across North America. The collaboration aims to enhance distribution partnerships, extend product reach, and revolutionize the marketing and distribution of safety equipment. The partnership is set to bring lasting growth and excellence in the industrial sector.
Lakeland Industries, a global manufacturer of protective clothing, will participate in the Planet MicroCap Showcase: VEGAS 2024 Conference. The company's top executives will meet with investors to discuss its industry presence and financial outlook.
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