Lakeland Industries Inc. (LAKE)

Lakeland Industries, Inc. Reports Fiscal 2025 Second Quarter Financial Results

Net sales of $38.5 million and gross margin of 39.6% Continued strong growth in high-value, strategic product lines, led by a 34% increase in Fire Rebranding and Launch of Lakeland Fire + Safety HUNTSVILLE, AL / ACCESSWIRE / September 4, 2024 / Lakeland Industries, Inc. (NASDAQ:LAKE) (the "Company" or "Lakeland"), a leading global manufacturer of protective clothing and apparel for industry, healthcare and first responders on the federal, state and local levels, today announced financial results for its fiscal 2025 second quarter ended July 31, 2024. Fiscal 2025 Second Quarter Financial Results Highlights Net sales of $38.5 million, up $5.4 million, or 16.5%, year-over-year Organic revenue(1) excluding LHD, Jolly, and Pacific Helmets acquisitions, of $32.2 million, a decrease of $0.9 million, or 2.8%, year-over-year Fire services business, a key strategic growth focus for the Company, grew over 33.5% versus the same period last year Gross margin of 39.6% and organic gross margin of 43.4%, compared to a gross margin of 42.9% in the prior year period Net loss of ($1.4 million) or ($0.19) per basic common share in Q2-FY25 versus net income of $2.5 million or $0.33 per basic common share last year Adjusted earnings before interest, taxes, depreciation, amortization and excluding FX (Adjusted EBITDA excluding FX)(2) of $2.7 million in Q2-FY25, compared to $4.7 million in Q2-FY24 LHD, Jolly and Pacific Helmets revenue of $1.5 million, $2.9 million and $1.9 million, respectively (1)Organic revenue and organic gross margin are total revenue and total gross margin, each excluding the effects of recent acquisitions, which management uses to assess the growth of its legacy business.