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About Lakeland Industries, Inc. (NASDAQ: LAKE)
Lakeland Industries, Inc., also known as Lakeland Fire + Safety, is a globally recognized manufacturer of high-performance protective clothing and accessories. Established in 1982 and headquartered in Huntsville, Alabama, the company serves a diverse range of industries, including chemical/petrochemical, healthcare, construction, automotive, pharmaceuticals, and fire services. Lakeland’s mission is to safeguard workers and first responders operating in hazardous environments by providing innovative, durable, and reliable personal protective equipment (PPE).
Core Business and Product Segments
Lakeland’s extensive product portfolio is strategically segmented to address critical safety needs across various industries:
- Industrial Protective Apparel: Includes disposable clothing, chemical-resistant suits, high-visibility garments, and flame-resistant workwear designed for sectors like oil & gas, manufacturing, and construction.
- Fire Services: A rapidly growing segment featuring head-to-toe solutions such as firefighter turnout gear, helmets, boots, and station wear. Recent acquisitions like Jolly Scarpe and LHD Group have enhanced its product range and geographic reach.
- Critical Environments: Specialized apparel for cleanrooms, laboratories, and pharmaceutical settings, ensuring contamination control and worker safety.
- Healthcare PPE: Includes gowns, gloves, and other protective gear for medical professionals and emergency responders.
Global Reach and Market Presence
With operations spanning over 50 countries, Lakeland’s products are trusted worldwide. The company leverages a robust distribution network of over 2,000 global safety and industrial supply distributors. Key geographical markets include the United States, Europe, Latin America, Asia, and emerging regions like the Middle East and Southeast Asia. Lakeland’s inclusion in the Houston-Galveston Area Council (HGACBuy) program further solidifies its position as a preferred supplier for over 9,000 government entities, streamlining procurement for fire services and industrial safety products.
Strategic Growth and Competitive Edge
Lakeland’s growth strategy is anchored in organic expansion and strategic acquisitions. The company’s “head-to-toe” product offerings, combined with superior lead times and global certifications, provide a competitive edge. Acquisitions like Pacific Helmets and Jolly Scarpe have not only diversified its product portfolio but also strengthened its presence in key markets like Germany, Australia, and Hong Kong. Lakeland’s vertically integrated manufacturing model ensures quality control and cost efficiency, enhancing its ability to compete in a fragmented PPE market.
Commitment to Quality and Innovation
Known for its rigorous quality standards, Lakeland continuously invests in research and development to innovate its product lines. The company’s protective gear is meticulously designed to meet the demanding requirements of industries where safety is paramount. Its products are routinely specified for use in hazardous material handling, fire rescue operations, and critical healthcare settings.
Conclusion
Lakeland Industries stands as a cornerstone in the global protective apparel market, combining decades of expertise with a forward-thinking approach to safety and innovation. Its commitment to safeguarding lives and its strategic focus on high-growth segments like fire services position it as a trusted partner for industrial and public safety needs worldwide.
HUNTSVILLE, AL / ACCESSWIRE / March 30, 2023 / Lakeland Industries (NASDAQ: LAKE) announced it will release its fiscal 2023 fourth quarter and full-year financial results on April 13, 2023, post-market close. A conference call will follow at 4:30 p.m. Eastern, hosted by President and CEO Charlie Roberson and CFO Roger Shannon. Investors can join via domestic or international numbers and access a replay until April 20. Lakeland manufactures protective clothing for various industries and government agencies globally, including healthcare and public safety, and sells through a network of over 1,600 distributors.
HUNTSVILLE, AL / ACCESSWIRE / March 20, 2023 / Lakeland Industries (NASDAQ:LAKE) announced its participation in the Sidoti Small-Cap Conference on March 22-23, 2023. CEO Charlie Roberson and CFO Roger Shannon will present on March 23 at 10:45 am ET, accessible live here. Additionally, virtual one-on-one meetings with investors are scheduled for both days. Registration for the conference and meetings is free and available to all interested parties. Lakeland is recognized for manufacturing protective clothing used in various industries and governmental agencies worldwide, including healthcare and law enforcement.
HUNTSVILLE, AL / ACCESSWIRE / March 8, 2023 / Lakeland Industries (NASDAQ:LAKE) will participate in the 35th Annual Roth Conference from March 12-14, 2023, at The Ritz Carlton, Laguna Niguel, California. Key executives, including CEO Charlie Roberson, CFO Roger Shannon, and COO Allen Dillard, will represent the company. This prominent conference provides investors insights into emerging growth companies across various sectors. Parties interested in meeting with Lakeland management can contact their Roth MKM representative or Alpha IR Group. Presentation materials will be available on the company's Investor Relations page during the conference.
Lakeland Industries announced the appointment of Roger D. Shannon as Chief Financial Officer, effective February 1, 2023, succeeding Allen E. Dillard, who will now focus on expansion and operations. Mr. Shannon brings over 35 years of experience in finance and has served in CFO roles at multiple companies including Charah Solutions and Adtran. His expertise includes global finance and public accounting across several industries. The leadership change aims to enhance strategic production capabilities and global procurement efforts.
Lakeland Industries, Inc. (NASDAQ:LAKE) has announced its initiation of a quarterly cash dividend program, declaring an initial dividend of $0.03 per share. This dividend will be payable on February 22, 2023, to stockholders recorded as of February 15, 2023. The Board of Directors expressed confidence in the company’s ability to generate positive cash flow and its potential for organic and acquisitive growth, aiming to enhance long-term shareholder value. This systematic return of capital represents a strategic move to attract a broader investor base while maintaining financial strength.
HUNTSVILLE, AL / ACCESSWIRE / January 26, 2023 / Lakeland Industries (NASDAQ:LAKE) announced the retirement of Christopher J. Ryan as Executive Chairman effective January 31, 2023. He will remain on the Board until the Annual Shareholders Meeting on June 14, 2023. Vice Chairman Jim Jenkins will succeed him as Chairman starting February 1, 2023, following the Board's succession plan. Jenkins emphasized the company's continued strengthening in the global PPE market and is committed to accelerating growth. Jenkins has extensive legal and corporate governance experience, previously serving as a partner at Harter Secrest & Emery LLP and currently leading corporate development at Transcat.
Lakeland Industries (NASDAQ:LAKE) reported fiscal 2023 Q3 net sales of $28.4 million, up 0.7% sequentially. The gross margin improved to 43.3%, surpassing the long-term target of 40%. Net income reached $1.4 million or $0.19 per share. Despite foreign currency headwinds impacting sales by $1.6 million, the company announced the acquisition of Eagle Technical Products, expanding its product base in fire service protective clothing. The firm also initiated a new $5 million stock repurchase program following $2.3 million in share buybacks during the quarter.
Lakeland Industries has acquired UK-based Eagle Technical Products for approximately $10.8 million, enhancing its fire service protective clothing portfolio and expanding its sales in the Middle East and Europe.
Eagle, established in 2002, specializes in protective apparel for emergency and industrial sectors, now sold in more than 25 countries. The acquisition aims to accelerate sales in these regions and strengthen Lakeland's market position, with expectations of positive impacts on both top and bottom lines within the first year.
Lakeland Industries (NASDAQ:LAKE) will announce its fiscal 2023 third-quarter financial results on December 8, 2022, post-market closure. A conference call is scheduled for 4:30 p.m. ET the same day, hosted by CEO Charles D. Roberson and CFO Allen E. Dillard. Investors can access the call via phone or listen to a replay until December 15, 2022. Lakeland specializes in protective clothing, serving industries like oil, healthcare, and government agencies across over 50 countries.
Lakeland Industries (NASDAQ:LAKE) announced that CEO Charlie Roberson and COO Allen Dillard will present at the Sidoti September Virtual Investor Conference on September 21-22, 2022. The presentation starts at 4:00 PM ET on September 21 and includes one-on-one meetings with investors. Registration for the event is free and open to the public. Lakeland manufactures protective clothing for various industries globally, servicing over 1,600 distributors and government agencies, including the Department of Defense and the CDC.
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