Lakeland Industries, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended July 31, 2023
September 06, 2023 at 05:21 pm EDT
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Lakeland Industries, Inc. reported earnings results for the second quarter and six months ended July 31, 2023. For the second quarter, the company reported sales was USD 33.07 million compared to USD 28.18 million a year ago. Net income was USD 2.47 million compared to net loss of USD 0.87 million a year ago. Basic earnings per share from continuing operations was USD 0.33 compared to basic loss per share from continuing operations of USD 0.11 a year ago. Diluted earnings per share from continuing operations was USD 0.32 compared to diluted loss per share from continuing operations of USD 0.11 a year ago.
For the six months, sales was USD 61.77 million compared to USD 55.46 million a year ago. Net income was USD 3.79 million compared to USD 0.259 million a year ago. Basic earnings per share from continuing operations was USD 0.52 compared to USD 0.03 a year ago. Diluted earnings per share from continuing operations was USD 0.5 compared to USD 0.03 a year ago.
Lakeland Industries, Inc. design and manufactures and sells a comprehensive line of industrial protective clothing and accessories for the industrial and public protective clothing market. The Companyâs product categories include limited use/disposable protective clothing, high-end chemical protective suits, firefighting and heat protective apparel, durable woven garments, high visibility clothing, and glove and sleeves. Its products are sold by its in-house customer service group, its customer service group, and independent sales representatives to a network of over 1,600 North American safety and mill supply distributors. It also designs and manufactures helmets for the structural firefighting, wildland firefighting, and rescue markets. Its authorized distributors supply end users, such as integrated oil, chemical/petrochemical, automobile, steel, glass, construction, smelting, heavy and light industry, cleanroom, janitorial, pharmaceutical, and technology electronics manufacturers.