We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
Lakeland Industries Inc | NASDAQ:LAKE | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.92 | 5.45% | 17.81 | 16.17 | 20.65 | 18.10 | 17.03 | 17.14 | 28,425 | 05:00:15 |
Delaware
|
.
|
13-3115216
|
(State
of incorporation)
|
|
(IRS
Employer Identification Number)
|
|
|
|
3555
Veterans Memorial Highway, Suite C, Ronkonkoma, New
York
|
|
11779
|
(Address
of principal executive offices)
|
|
(Zip
Code)
|
Large accelerated filer ☐
|
Accelerated filer ☒
|
Non-accelerated
filer ☐
(Do not
check if a smaller reporting company)
|
Smaller reporting company ☐
|
Emerging
growth company ☐
|
|
Class
|
Outstanding
at September 7, 2018
|
Common
Stock, $0.01 par value per share
|
8,116,199
shares
|
|
Three Months
Ended
July
31,
|
Six
Months Ended
July
31,
|
||
|
2018
|
2017
|
2018
|
2017
|
Net
sales
|
$
25,616
|
$
23,909
|
$
49,960
|
$
46,870
|
Cost of goods
sold
|
16,465
|
15,219
|
31,304
|
29,623
|
Gross
profit
|
9,151
|
8,690
|
18,656
|
17,247
|
Operating
expenses
|
7,505
|
6,508
|
14,593
|
12,593
|
Operating
profit
|
1,646
|
2,182
|
4,063
|
4,654
|
Other income,
net
|
30
|
4
|
29
|
6
|
Interest
expense
|
(37
)
|
(36
)
|
(68
)
|
(112
)
|
Income
before taxes
|
1,639
|
2,150
|
4,024
|
4,548
|
Income tax
expense
|
622
|
308
|
1,139
|
996
|
Net
income
|
$
1,017
|
$
1,842
|
$
2,885
|
$
3,552
|
Net income per
common share:
|
|
|
|
|
Basic
|
$
0.13
|
$
0.25
|
$
0.36
|
$
0.49
|
Diluted
|
$
0.12
|
$
0.25
|
$
0.35
|
$
0.49
|
Weighted average
common shares outstanding:
|
|
|
|
|
Basic
|
8,116,199
|
7,266,291
|
8,116,199
|
7,265,053
|
Diluted
|
8,177,135
|
7,280,050
|
8,168,758
|
7,316,876
|
|
Three Months
Ended
July
31,
|
Six
Months Ended
July
31,
|
||
|
2018
|
2017
|
2018
|
2017
|
|
|
|
|
|
Net
income
|
$
1,017
|
$
1,842
|
$
2,885
|
$
3,552
|
Other comprehensive
income (loss):
|
|
|
|
|
Cash flow
hedges
|
-----
|
(160
)
|
-----
|
(202
)
|
Foreign currency
translation adjustments
|
(422
)
|
378
|
(624
)
|
330
|
Other comprehensive
income (loss)
|
(422
)
|
218
|
(624
)
|
128
|
Comprehensive
income
|
$
595
|
$
2,060
|
$
2,261
|
$
3,680
|
ASSETS
|
July
31,
|
January
31,
|
|
2018
|
2018
|
Current
assets
|
|
|
Cash and cash
equivalents
|
$
14,933
|
$
15,788
|
Accounts
receivable, net of allowance for doubtful accounts of $515 and $480
at July 31, 2018 and January 31, 2018, respectively
|
13,627
|
14,119
|
Inventories, net of
allowance of $2,463 and $2,422 at July 31, 2018 and January 31,
2018, respectively
|
46,358
|
42,919
|
Prepaid VAT
tax
|
2,759
|
2,119
|
Other current
assets
|
2,432
|
1,555
|
Total current
assets
|
80,109
|
76,500
|
Property and
equipment, net
|
9,524
|
8,789
|
Assets held for
sale
|
150
|
150
|
Deferred income
tax
|
7,253
|
7,557
|
Prepaid VAT and
other taxes
|
305
|
310
|
Other
assets
|
189
|
354
|
Goodwill
|
871
|
871
|
Total
assets
|
$
98,401
|
$
94,531
|
LIABILITIES
AND STOCKHOLDERS’ EQUITY
|
|
|
Current
liabilities
|
|
|
Accounts
payable
|
$
8,744
|
$
7,057
|
Accrued
compensation and benefits
|
1,411
|
1,771
|
Other accrued
expenses
|
1,365
|
1,182
|
Current maturity of
long-term debt
|
158
|
158
|
Short-term
borrowings
|
85
|
211
|
Total current
liabilities
|
11,763
|
10,379
|
Long-term portion
of debt
|
1,233
|
1,312
|
Total
liabilities
|
12,996
|
11,691
|
Commitments and
contingencies
|
|
|
Stockholders’
equity
|
|
|
Preferred stock,
$0.01 par; authorized 1,500,000 shares (none issued)
|
-----
|
-----
|
Common stock, $.01
par; authorized 20,000,000 shares,
Issued 8,472,640
shares; outstanding 8,116,199 shares
|
85
|
85
|
Treasury stock, at
cost; 356,441 shares
|
(3,352
)
|
(3,352
)
|
Additional paid-in
capital
|
75,221
|
74,917
|
Retained
earnings
|
15,726
|
12,841
|
Accumulated other
comprehensive loss
|
(2,275
)
|
(1,651
)
|
Total stockholders'
equity
|
85,405
|
82,840
|
Total liabilities
and stockholders' equity
|
$
98,401
|
$
94,531
|
|
For
the Six Months Ended
July
31,
|
|
|
2018
|
2017
|
Cash flows from
operating activities:
|
|
|
Net
income
|
$
2,885
|
$
3,552
|
Adjustments to
reconcile net income to net cash provided by operating
activities
|
|
|
Provision for
inventory obsolescence
|
41
|
11
|
Provision for
(recovery of) doubtful accounts
|
35
|
(187
)
|
Deferred income
taxes
|
304
|
228
|
Depreciation and
amortization
|
428
|
385
|
Stock based and
restricted stock compensation
|
302
|
198
|
Loss on disposal of
property and equipment
|
5
|
-----
|
(Increase) decrease
in operating assets
|
|
|
Accounts
receivable
|
228
|
(2,786
)
|
Inventories
|
(3,813
)
|
1,571
|
Prepaid VAT
tax
|
(641
)
|
29
|
Other current
assets
|
(809
)
|
186
|
Increase (decrease)
in operating liabilities
|
|
|
Accounts
payable
|
1,818
|
3,171
|
Accrued expenses
and other liabilities
|
(107
)
|
48
|
Net cash used by
the sale of Brazil
|
---
|
(95
)
|
Net cash provided
by operating activities
|
676
|
6,311
|
Cash flows from
investing activities:
|
|
|
Purchases of
property and equipment
|
(1,220
)
|
(448
)
|
Cash flows from
financing activities:
|
|
|
Net repayments
under revolving credit facility
|
-----
|
(4,865
)
|
Loan repayments,
short-term
|
(153
)
|
(56
)
|
Loan borrowings,
short-term
|
208
|
101
|
Loan repayments,
long-term
|
(79
)
|
(26
)
|
Loan borrowings,
long-term
|
-----
|
1,575
|
UK borrowings
(repayments) under line of credit facility, net
|
(175
)
|
193
|
Shares returned to
pay employee taxes under restricted stock program
|
-----
|
(19
)
|
Net cash used in financing
activities
|
(199
)
|
(3,097
)
|
Effect of exchange
rate changes on cash and cash equivalents
|
(112
)
|
57
|
Net increase
(decrease) in cash and cash equivalents
|
(855
)
|
2,823
|
Cash and cash
equivalents at beginning of period
|
15,788
|
10,365
|
Cash and cash
equivalents at end of period
|
$
14,933
|
$
13,188
|
|
|
|
Supplemental
disclosure of cash flow information:
|
|
|
Cash paid for
interest
|
$
68
|
$
112
|
Cash paid for
taxes
|
$
806
|
$
711
|
|
|
|
|
Three
Months Ended
July
31,
(in
millions of dollars)
|
Six
Months Ended
July
31,
(in
millions of dollars)
|
||
|
2018
|
2017
|
2018
|
2017
|
External
Sales by geographic region:
|
|
|
|
|
USA
|
$
13.36
|
$
12.63
|
$
25.71
|
$
25.33
|
Other
foreign
|
4.84
|
4.38
|
9.20
|
8.08
|
Europe
(UK)
|
2.56
|
2.08
|
5.13
|
4.17
|
Mexico
|
0.82
|
0.58
|
1.93
|
1.15
|
China
|
4.04
|
4.24
|
7.99
|
8.14
|
Consolidated
external sales
|
$
25.62
|
$
23.91
|
$
49.96
|
$
46.87
|
|
Three
Months Ended
July
31,
(in
millions of dollars)
|
Six
Months Ended
July
31,
(in
millions of dollars)
|
||
|
2018
|
2017
|
2018
|
2017
|
External
Sales by product lines:
|
|
|
|
|
Disposables
|
$
13.11
|
$
12.36
|
$
25.96
|
$
24.52
|
Chemical
|
4.72
|
4.03
|
9.15
|
7.82
|
Fire
|
1.70
|
2.02
|
3.36
|
4.02
|
Gloves
|
0.85
|
0.82
|
1.65
|
1.56
|
Hi-Vis
|
1.97
|
2.11
|
3.64
|
3.88
|
Wovens
|
3.27
|
2.57
|
6.20
|
5.07
|
Consolidated
external sales
|
$
25.62
|
$
23.91
|
$
49.96
|
$
46.87
|
|
July
31, 2018
|
January 31,
2018
|
|
|
|
Raw
materials
|
$
14,121
|
$
14,767
|
Work-in-process
|
1,831
|
2,357
|
Finished
goods
|
30,406
|
25,795
|
|
$
46,358
|
$
42,919
|
|
Total
|
1
Year
or
less
|
2
Years
|
3
Years
|
4
Years
|
5
Years
|
After
5 Years
|
|
|
|
|
|
|
|
|
Borrowings in
USA
|
$
1,391
|
$
158
|
$
158
|
$
1,075
|
$
----
|
$
-----
|
$
-----
|
Borrowings in
Argentina
|
85
|
85
|
-----
|
-----
|
-----
|
-----
|
-----
|
Total
|
$
1,476
|
$
243
|
$
158
|
$
1,075
|
$
----
|
$
-----
|
$
-----
|
|
Number of shares
awarded total
|
|||
|
Minimum
|
Target
|
Maximum
|
Cap
|
Employees
|
42,061
|
63,095
|
84,126
|
101,001
|
Non-Employee
Directors
|
14,414
|
21,622
|
28,829
|
34,595
|
Total
|
56,475
|
84,717
|
112,955
|
135,596
|
|
Three-Months
Ended
July
31,
|
Six-Months
Ended
July
31,
|
||
|
2018
|
2017
|
2018
|
2017
|
2012
Plan
|
$
-----
|
$
-----
|
$
-----
|
$
206
|
2015
Plan
|
-----
|
98,642
|
-----
|
197,284
|
2017
Plan
|
$
183,146
|
-----
|
$
302,386
|
-----
|
Total stock-based
compensation
|
$
183,146
|
$
98,642
|
$
302,386
|
197,490
|
Total income tax
benefit recognized for stock-based compensation
arrangements
|
$
65,933
|
$
35,511
|
$
100,859
|
$
71,096
|
Shares issued
under
2017 Stock
Plan
|
Outstanding Unvested
Grants at Maximum at Beginning of FY19
|
Granted
during
FY18
through July 31, 2018
|
Becoming Vested
during FY18 through July 31, 2018
|
Forfeited
during
FY18
through July 31, 2018
|
Outstanding Unvested
Grants at Maximum at End of
July
31, 2018
|
Restricted stock
grants – employees
|
42,291
|
41,835
|
-----
|
-----
|
84,126
|
Restricted stock
grants – non-employee directors
|
14,493
|
14,336
|
-----
|
-----
|
28,829
|
Retainer in stock
–
non-employee
directors
|
12,789
|
10,438
|
-----
|
-----
|
23,227
|
Total restricted
stock
|
69,573
|
66,609
|
-----
|
-----
|
136,182
|
|
|
|
|
|
|
Weighted average
grant date fair value
|
$
13.63
|
$
13.84
|
$
-----
|
$
-----
|
$
13.73
|
|
Three Months
Ended
July
31,
|
Six
Months Ended
July
31,
|
||
|
(in
$000s except share and per share information)
|
|||
|
2018
|
2017
|
2018
|
2017
|
Numerator:
|
$
1.017
|
$
1,842
|
$
2,885
|
$
3,552
|
Net
income
|
|
|
|
|
Denominator:
|
|
|
|
|
Denominator for
basic earnings per share
(weighted-average
shares which reflect 356,441 shares in the treasury)
|
8,116,199
|
7,266,291
|
8,116,199
|
7,265,053
|
Effect of dilutive
securities from restricted stock plan and from dilutive effect of
stock options
|
60,936
|
13,759
|
52,559
|
51,823
|
Denominator for
diluted earnings per share (adjusted weighted average
shares)
|
8,177,135
|
7,280,050
|
8,168,758
|
7,316,876
|
Basic earnings per
share
|
$
0.13
|
$
0.25
|
$
0.36
|
$
0.49
|
|
|
|
|
|
Diluted earnings
per share
|
$
0.12
|
$
0.25
|
$
0.35
|
$
0.49
|
|
|
|
|
|
|
Three Months
Ended
July
31,
|
Six
Months Ended
July
31,
|
||||||
|
2018
|
2017
|
2018
|
2017
|
||||
|
|
|
|
|
|
|
|
|
Domestic
|
$
13.36
|
52.16
%
|
$
12.63
|
52.83
%
|
$
25.71
|
51.47
%
|
$
25.33
|
54.05
%
|
International
|
12.26
|
47.84
%
|
11.28
|
47.17
%
|
24.25
|
48.53
%
|
21.54
|
45.95
%
|
Total
|
$
25.62
|
100.00
%
|
$
23.91
|
100.00
%
|
$
49.96
|
100.00
%
|
$
46.87
|
100.00
%
|
|
Three Months
Ended
July
31,
(in
millions of dollars)
|
Six
Months Ended
July
31,
(in
millions of dollars)
|
||
|
2018
|
2017
|
2018
|
2017
|
Net
Sales:
|
|
|
|
|
USA
|
$
14.76
|
$
13.90
|
$
28.07
|
$
27.30
|
Other
foreign
|
5.86
|
4.68
|
10.97
|
8.73
|
Europe
(UK)
|
2.56
|
2.08
|
5.13
|
4.21
|
Mexico
|
1.21
|
0.95
|
2.68
|
1.87
|
China
|
13.66
|
12.89
|
27.50
|
23.41
|
Corporate
|
0.39
|
0.11
|
0.75
|
0.53
|
Less intersegment
sales
|
(12.82
)
|
(10.70
)
|
(25.14
)
|
(19.18
)
|
Consolidated
sales
|
$
25.62
|
$
23.91
|
$
49.96
|
$
46.87
|
External
Sales:
|
|
|
|
|
USA
|
$
13.36
|
$
12.63
|
$
25.71
|
$
25.33
|
Other
foreign
|
4.84
|
4.38
|
9.20
|
8.08
|
Europe
(UK)
|
2.56
|
2.08
|
5.13
|
4.17
|
Mexico
|
0.82
|
0.58
|
1.93
|
1.15
|
China
|
4.04
|
4.24
|
7.99
|
8.14
|
Consolidated
external sales
|
$
25.62
|
$
23.91
|
$
49.96
|
$
46.87
|
Intersegment
Sales:
|
|
|
|
|
USA
|
$
1.40
|
$
1.27
|
$
2.36
|
$
1.97
|
Other
foreign
|
1.02
|
0.30
|
1.77
|
0.65
|
Europe
(UK)
|
-----
|
-----
|
-----
|
0.04
|
Mexico
|
0.39
|
0.37
|
0.75
|
0.72
|
China
|
9.62
|
8.65
|
19.51
|
15.27
|
Corporate
|
0.39
|
0.11
|
0.75
|
0.53
|
Consolidated
intersegment sales
|
$
12.82
|
$
10.70
|
$
25.14
|
$
19.18
|
Operating Profit
(Loss):
|
|
|
|
|
USA
|
$
2.15
|
$
2.52
|
$
4.78
|
$
4.78
|
Other
foreign
|
0.06
|
0.67
|
.62
|
1.10
|
Europe
(UK)
|
0.09
|
0.04
|
0.18
|
0.11
|
Mexico
|
0.08
|
0.01
|
0.21
|
0.04
|
China
|
0.93
|
0.58
|
1.51
|
1.55
|
Corporate
|
(1.56
)
|
(1.72
)
|
(3.35
)
|
(3.10
)
|
Less intersegment
profit (loss)
|
(0.10
)
|
0.08
|
0.11
|
0.17
|
Consolidated
operating profit
|
$
1.65
|
$
2.18
|
$
4.06
|
$
4.65
|
Depreciation and
Amortization Expense:
|
|
|
|
|
USA
|
$
0.03
|
$
0.03
|
$
0.06
|
$
0.06
|
Other
foreign
|
0.07
|
0.03
|
0.11
|
0.07
|
Europe
(UK)
|
-----
|
-----
|
0.01
|
-----
|
Mexico
|
0.03
|
0.03
|
0.06
|
0.06
|
China
|
0.07
|
0.07
|
0.12
|
0.13
|
Corporate
|
0.05
|
0.05
|
0.10
|
0.09
|
Less
intersegment
|
(0.01
)
|
(0.01
)
|
(0.03
)
|
(0.02
)
|
Consolidated
depreciation & amortization expense
|
$
0.24
|
$
0.20
|
$
0.43
|
$
0.39
|
Interest
Expense:
|
|
|
|
|
Other
foreign
|
$
0.02
|
$
0.01
|
0.03
|
0.03
|
China
|
-----
|
-----
|
-----
|
-----
|
Corporate
|
0.02
|
0.02
|
0.04
|
0.08
|
Consolidated
interest expense
|
$
0.04
|
$
0.03
|
$
0.07
|
$
0.11
|
Income Tax
Expense:
|
|
|
|
|
Other
foreign
|
$
0.12
|
$
0.21
|
$
0.21
|
$
0.26
|
Europe
(UK)
|
0.02
|
0.03
|
0.04
|
0.04
|
China
|
0.36
|
0.09
|
0.51
|
0.38
|
Corporate
|
0.15
|
(0.04
)
|
0.34
|
0.28
|
Less
intersegment
|
(0.03
)
|
0.02
|
0.04
|
0.04
|
Consolidated income
tax expense
|
$
0.62
|
$
0.31
|
$
1.14
|
$
1.00
|
|
Six
Months Ended
July
31,
(in
millions of dollars)
|
|
Capital
Expenditures:
|
2018
|
2017
|
USA
|
$
0.02
|
$
0.01
|
Other
Foreign
|
0.71
|
-----
|
Mexico
|
0.11
|
0.03
|
China
|
0.03
|
0.06
|
India
|
0.06
|
0.02
|
Corporate
|
0.29
|
0.33
|
Consolidated
capital expenditures
|
$
1.22
|
$
0.45
|
|
July
31, 2018
(in
millions of dollars)
|
January 31,
2018
(in
millions of dollars)
|
Total
Assets:*
|
|
|
USA
|
$
71.37
|
$
67.02
|
Other
foreign
|
23.34
|
20.30
|
Europe
(UK)
|
4.49
|
4.63
|
Mexico
|
5.22
|
4.69
|
China
|
34.71
|
31.59
|
India
|
(0.78
)
|
(0.85
)
|
Corporate
|
17.76
|
22.27
|
Less
intersegment
|
(57.71
)
|
(55.12
)
|
Consolidated
assets
|
$
98.40
|
$
94.53
|
Total Assets Less
Intersegment:*
|
|
|
USA
|
$
34.53
|
$
33.16
|
Other
foreign
|
15.71
|
12.61
|
Europe
(UK)
|
4.49
|
4.63
|
Mexico
|
5.31
|
4.84
|
China
|
20.27
|
16.97
|
India
|
1.14
|
0.98
|
Corporate
|
16.95
|
21.34
|
Consolidated
assets
|
$
98.40
|
$
94.53
|
Property and
Equipment (excluding assets held for sale at $0.2
million):
|
|
|
USA
|
$
1.95
|
$
1.99
|
Other
foreign
|
2.06
|
1.50
|
Europe
(UK)
|
0.02
|
0.03
|
Mexico
|
2.04
|
1.99
|
China
|
1.81
|
1.92
|
India
|
0.18
|
0.15
|
Corporate
|
1.40
|
1.18
|
Less
intersegment
|
0.06
|
0.03
|
Consolidated
property and equipment
|
$
9.52
|
$
8.79
|
Goodwill:
|
|
|
USA
|
$
0.87
|
$
0.87
|
Consolidated
goodwill
|
$
0.87
|
$
0.87
|
|
Three
Months Ended
July
31,
(in
millions of dollars)
|
Six
Months Ended
July
31,
(in
millions of dollars)
|
||
|
2018
|
2017
|
2018
|
2017
|
Disposables
|
$
13.11
|
$
12.36
|
$
25.96
|
$
24.52
|
Chemical
|
4.72
|
4.03
|
9.15
|
7.82
|
Fire
|
1.70
|
2.02
|
3.36
|
4.02
|
Gloves
|
0.85
|
0.82
|
1.65
|
1.56
|
Hi-Vis
|
1.97
|
2.11
|
3.64
|
3.88
|
Wovens
|
3.27
|
2.57
|
6.20
|
5.07
|
Total
|
$
25.62
|
$
23.91
|
$
49.96
|
$
46.87
|
|
Three
Months Ended
July
31,
(in
millions of dollars)
|
Six
Months Ended
July
31,
(in
millions of dollars)
|
||
|
2018
|
2017
|
2018
|
2017
|
External
Sales:
|
|
|
|
|
USA
|
$
13.36
|
$
12.63
|
$
25.71
|
$
25.33
|
Other
foreign
|
4.84
|
4.38
|
9.20
|
8.09
|
Europe
(UK)
|
2.56
|
2.08
|
5.13
|
4.18
|
Mexico
|
0.82
|
0.58
|
1.93
|
1.15
|
China
|
4.04
|
4.24
|
7.99
|
8.12
|
Consolidated
external sales
|
$
25.62
|
$
23.91
|
$
49.96
|
$
46.87
|
Employment
Agreement, dated July 12, 2018, between Charles D. Roberson and the
Company
|
31.1
*
|
Certification
of Chief Executive Officer pursuant to Section 302 of the
Sarbanes-Oxley Act of 2002
|
31.2
*
|
Certification
of Chief Financial Officer pursuant to Rule 13a-14(a) pursuant to
Section 302 of the Sarbanes-Oxley Act of 2002
|
32.1
*
|
Certification
of Chief Executive Officer pursuant to Rule 13a-14(a) pursuant to
Section 906 of the Sarbanes-Oxley Act of 2002
|
32.2
*
|
Certification
of Chief Financial Officer pursuant to 18 U.S.C. Section 1350
pursuant to Section 906 of the Sarbanes-Oxley Act of
2002
|
101.INS
|
XBRL
instance Document
|
101.SCH
|
XBRL
Taxonomy Extension Schema Document
|
101.CAL
|
XBRL
Taxonomy Extension Definitions Document
|
101.DEF
|
XBRL
Taxonomy Extension Labels Document
|
101.LAB
|
XBRL
Taxonomy Extension Labels Document
|
101.PRE
|
XBRL
Taxonomy Extension Presentations Document
|
|
LAKELAND INDUSTRIES, INC.
(Registrant)
|
|
|
|
|
Date:
September 10, 2018
|
/s/ Christopher J. Ryan
|
|
Christopher
J. Ryan,
Chief
Executive Officer, President and Secretary (Principal Executive
Officer and Authorized Signatory)
|
|
|
|
|
Date:
September 10, 2018
|
/s/ Teri W. Hunt
|
|
Teri W.
Hunt,
Chief
Financial Officer(Principal Accounting Officer and Authorized
Signatory)
|
1 Year Lakeland Industries Chart |
1 Month Lakeland Industries Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions