Quarterly ResultJun 9, 2026, 05:11 PM
Lakeland Industries Reports Q1 Profit of $369K, Up From Loss
AI Summary
Lakeland Industries Inc. reported a net income of $369,000 for the first quarter of fiscal year 2027, a substantial turnaround from a net loss of $3,913,000 in the same period last year. Net sales saw a modest increase to $47.416 million. The company benefited from a $6.467 million gain on the sale of certain assets, which contributed to the improved financial performance. Operating expenses were reduced year-over-year. The company also completed two acquisitions in the prior fiscal year, Arizona PPE Recon, Inc. and California PPE Recon, Inc., which are now included in its financial statements.
Key Highlights
- Lakeland Industries reported net income of $369,000 for Q1 FY27, a significant improvement from a net loss of $3,913,000 in Q1 FY26.
- Net sales increased to $47.416 million in Q1 FY27 from $46.746 million in Q1 FY26.
- Gross profit decreased to $14.885 million in Q1 FY27 from $15.644 million in Q1 FY26.
- Operating expenses were $19.064 million in Q1 FY27, down from $20.278 million in Q1 FY26.
- The company recorded a gain on sale of certain assets of $6.467 million in Q1 FY27.
- Total assets grew to $212.338 million as of April 30, 2026, from $209.933 million as of January 31, 2026.
- Total liabilities increased to $81.813 million as of April 30, 2026, from $80.806 million as of January 31, 2026.
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