Lakeland Q3 net sales $28.4M, gross margin 43.3%, net income $1.4M; acquires Eagle Technical Products

LAKELAND INDUSTRIES INC

2023-Q3 EPS reported $0.22 revenue$83,849,000

Net sales $28.4M, up 0.7% sequentially; gross margin 43.3% (above 40% target).
Net income $1.4M ($0.19 per basic share); Adjusted EBITDA $3.0M.
Completed $2.3M share repurchases in Q3; new $5M buyback program announced post-quarter.
Currency headwinds of $1.6M from Chinese yuan and Argentine peso.
Acquired Eagle Technical Products after Q3, expanding fire service protective clothing offerings.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

LAKELAND INDUSTRIES INC reported fiscal 2023 third quarter ended October 31, 2022 results: revenue $28.4 million, net income $1.4 million, EPS $0.19 per basic common share.

Period: fiscal 2023 third quarter ended October 31, 2022
Revenue: $28.4 million
Net income: $1.4 million
EPS: $0.19 per basic common share
Result: reported results

Exact text from the filing

· Net sales of $28.4 million, up 0.7% sequentially · Gross margin was 43.3%, above the Company’s long-term target threshold of 40% and up from 41.3% in 2Q23 · Net income of $1.4 million or $0.19 per basic common share in 3Q23

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Source: SEC EDGAR

accession 0001654954-22-016252

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