Lakeland Industries Posts Q1 Profit; Shares Jump 18%
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HUNTSVILLE, Ala. — Lakeland Industries Inc. reported on Tuesday that it swung to a fiscal first-quarter profit, recording net income of $369,000 and earnings of $0.04 per share on $47.4 million in revenue. The Huntsville-based manufacturer of protective garments and decontamination services sells products across more than 50 countries and serves industrial and governmental customers.
Shares reacted sharply this week in premarket and after-hours trading, with RTTNews reporting the stock at $11.25, an about 17.9% increase from a prior $9.54 close after opening at $10.77. Lakeland disclosed net sales of $47.4 million, up 1.4% year-over-year, led by an 11% rise in Fire Services revenue to $23.4 million.
More context
Timeline
- 1. Company operates globally supplying protective garments and related services to industrial and government customers.
- 2. Lakeland reported fiscal Q1 net income of $369,000 and EPS of $0.04 on $47.4 million revenue.
- 3. The company noted net sales rose 1.4% year-over-year driven by an 11% increase in Fire Services revenue to $23.4 million.
- 4. Market feeds and Market Screener noted premarket and after-hours share movement following the earnings release.
- 5. RTTNews reported the stock trading at $11.25, up about 17.92% from the prior close of $9.54.
Why it matters
Lakeland Industries' profit means stability for this global supplier of protective garments and services. If you're an investor, you're likely pleased with the 18% stock jump. If you're a customer, especially in the Fire Services sector, it's a sign of reliable supply.
Sources
JQJO Editorial Desk · Human reviewed · AI assisted. Report a correction.
