M&A - LAKELAND INDUSTRIES INC

Form Type: 10-Q

Filing Date: 2025-06-09

Corporate Action: Acquisition

Type: Update

Accession Number: 000119312525137821

Filing Summary: Lakeland Industries, Inc. reported its financial results for the quarter ended April 30, 2025. The company reported net sales of $46.75 million, an increase from $36.31 million in the previous year. However, the cost of goods sold also rose, leading to a gross profit decline from $16.18 million to $15.64 million. Operating expenses increased significantly to $20.28 million, resulting in an operating loss of $4.63 million compared to an operating income of $2.20 million the previous year. The company experienced a net loss of $3.91 million, with net loss per share at $0.41. Total current assets were reported at $140.71 million, while total liabilities and stockholders’ equity stand at $218.13 million and $143.38 million respectively. The company noted acquisitions impacting the financials, with multiple acquisitions stated including Jolly and LHD, reflecting a strategic growth initiative in their sector. Other comprehensive income was negatively impacted by currency adjustments, but the company's consolidation efforts indicate ongoing positive positioning in the market.

Form Type: 10-K

Filing Date: 2025-04-17

Corporate Action: Acquisition

Type: Update

Accession Number: 000165495425004352

Filing Summary: Lakeland Industries, Inc. reported significant developments in its business operations for the fiscal year ending January 31, 2025. The fiscal year was marked by multiple strategic acquisitions aimed at strengthening its position in the firefighting and protective apparel market. Notable acquisitions included Veridian Limited for $26.1 million, LHD Group Deutschland GmbH for $14.8 million, Jolly Scarpe S.p.A. for $9.0 million, and Pacific Helmets NZ Limited for approximately $6.3 million. These acquisitions were intended to enhance the company's product portfolio, specifically in firefighter protective gear and accessories. The company’s updated capital position following a $46 million public equity offering further enables growth within the fragmented $2 billion fire protection sector. Lakeland aims to increase manufacturing resilience and has operations across multiple continents, emphasizing investments in high-growth areas and a focus on customer service. Additionally, the report highlights a year-over-year revenue increase and the successful execution of its acquisition strategy, positioning Lakeland as a competitive player in its industry.