Lakeland Industries, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended July 31, 2023
September 06, 2023 at 10:21 pm
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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. manufactures and sells a line of industrial protective clothing and accessories for the industrial and public protective clothing market. Its product categories include firefighter protective apparel and accessories, high-end chemical protective suits, limited use/disposable protective clothing, durable woven garments, high visibility clothing and gloves and sleeves. Its products are sold globally by its in-house sales teams, its customer service group, and authorized independent sales representatives to a network of over 2,000 safety and industrial supply distributors. Its authorized distributors supply end users, such as integrated oil, chemical/petrochemical, automobile, transportation, steel, glass, construction, smelting, cleanroom, janitorial, pharmaceutical and high technology electronics manufacturers and scientific, medical laboratories and the utilities industry. It offers structural firefighting, wildland firefighting and technical rescue helmets.