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 (LAKE) delivers essential protective solutions for industrial and emergency response sectors worldwide. This news hub provides investors and industry professionals with timely updates on corporate developments, product innovations, and market strategies.
Access curated press releases and analysis covering earnings reports, strategic acquisitions, safety certifications, and new product launches. Our repository simplifies tracking LAKE's expansion in chemical-resistant apparel, fire service gear, and technical textiles across global markets.
Discover updates on manufacturing advancements, distribution partnerships, and R&D initiatives that maintain Lakeland's position as an industrial safety leader. Content is organized for quick scanning while maintaining depth for fundamental analysis.
Bookmark this page for consolidated access to verified information about LAKE's operational milestones. Check regularly for updates reflecting the company's commitment to quality protective clothing solutions across healthcare, petrochemical, and government sectors.
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.
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.
