UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark one) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended July 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______________ to _______________ Commission File Number: 0-15535 LAKELAND INDUSTRIES, INC. (Exact name of Registrant as specified in its charter) Delaware 13 ...

| --- | --- | --- | --- | |----------------------------------------------------------------|-------|-------|-------| | | | | | | | | | | | | | | | | Fiscal First Quarter 2024 Financial Results Call June 8, 2023 | | | | | | | | | Non-GAAP Financial Measures Lakeland Overview (Nasdaq: LAKE) Debt (4/30/2023) ~$0 Distribution 78 countries 74% of global population 49% 20% 13% 13% 5% Disposables Focus on High Value Applications • Municipal Fire • Volunteer Fire • Search & Rescue • Wild Land • Utilities • Energy • ...

[PART I - FINANCIAL INFORMATION](index=2&type=section&id=PART%20I%20-%20FINANCIAL%20INFORMATION) [Item 1. Financial Statements (Unaudited)](index=2&type=section&id=Item%201.%20Financial%20Statements%20(Unaudited)) Presents unaudited condensed consolidated financial statements, including operations, balance sheets, cash flows, and detailed notes for Q1 FY23 and Q1 FY22 [Condensed Consolidated Statements of Operations](index=2&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations%20Three%20Months%20Ended%20April%2030%2C%202023%20and%202022) | Metric | Three Months Ended April 30, 2023 ($000s) | Three Months Ended April 30, 2022 ($000s) | | :----------------------- | :--------------------------------------- | :--------------------------------------- | | Net sales | 28,700 | 27,278 | | Cost of goods sold | 16,256 | 16,222 | | Gross profit | 12,444 | 11,056 | | Operating expenses | 10,506 | 9,607 | | Operating profit | 1,938 | 1,449 | | Income before taxes | 1,861 | 1,414 | | Income tax expense | 541 | 285 | | Net income | 1,320 | 1,129 | | Basic EPS | $0.18 | $0.15 | | Diluted EPS | $0.18 | $0.14 | [Condensed Consolidated Statements of Comprehensive Income (Loss)](index=3&type=section&id=Condensed%20Consolidated%20Statements%20of%20Comprehensive%20Income%20(Loss)%20Three%20Months%20Ended%20April%2030%2C%202023%20and%202022) | Metric | Three Months Ended April 30, 2023 ($000s) | Three Months Ended April 30, 2022 ($000s) | | :------------------------------ | :--------------------------------------- | :--------------------------------------- | | Net income | 1,320 | 1,129 | | Foreign currency translation adjustments | (718) | (760) | | Comprehensive income | 602 | 369 | [Condensed Consolidated Balance Sheets](index=3&type=section&id=Condensed%20Consolidated%20Balance%20Sheets%20April%2030%2C%202023%20and%20January%2031%2C%202023) | Metric | April 30, 2023 ($000s) | January 31, 2023 ($000s) | | :-------------------------- | :--------------------- | :--------------------- | | Cash and cash equivalents | 26,021 | 24,639 | | Total current assets | 107,942 | 104,982 | | Total assets | 145,094 | 142,327 | | Total current liabilities | 20,533 | 17,988 | | Total liabilities | 24,956 | 22,337 | | Total stockholders' equity | 120,138 | 119,990 | [Condensed Consolidated Statements of Stockholders' Equity](index=4&type=section&id=Condensed%20Consolidated%20Statements%20of%20Stockholders%27%20Equity%20Three%20Months%20Ended%20April%2030%2C%202023%20and%202022) | Change in Equity | Three Months Ended April 30, 2023 ($000s) | Three Months Ended April 30, 2022 ($000s) | | :----------------------- | :--------------------------------------- | :--------------------------------------- | | Net Income | 1,320 | 1,129 | | Other comprehensive loss | (718) | (760) | | Dividends | (246) | - | | Stock-based compensation | 407 | 407 | | Treasury stock purchased | (276) | (406) | [Condensed Consolidated Statements of Cash Flows](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows%20Three%20Months%20Ended%20April%2030%2C%202023%20and%202022) | Cash Flow Activity | Three Months Ended April 30, 2023 ($000s) | Three Months Ended April 30, 2022 ($000s) | | :------------------------- | :--------------------------------------- | :--------------------------------------- | | Operating activities | 3,670 | 1,911 | | Investing activities | (690) | (2,356) | | Financing activities | (1,151) | (1,084) | | Effect of exchange rate changes | (447) | (336) | | Net increase (decrease) in cash | 1,382 | (1,865) | | Cash and cash equivalents at end of period | 26,021 | 50,854 | [Notes to Condensed Consolidated Financial Statements](index=6&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) [1. Business](index=6&type=section&id=1.%20Business) - Lakeland Industries, Inc. manufactures and sells industrial protective clothing and accessories globally, serving over **1,600** distributors and end-users across various industries and governmental agencies[23](index=23&type=chunk) - The company's products are sold in more than **50** countries, with significant sales in China, the European Economic Community, Canada, Chile, Argentina, Russia, Kazakhstan, Colombia, Mexico, Ecuador, India, Middle East, and Southeast Asia[23](index=23&type=chunk) [2. Basis of Presentation](index=6&type=section&id=2.Basis%20of%20Presentation) - The condensed consolidated financial statements are unaudited and include normal recurring adjustments, with intercompany accounts and transactions eliminated[24](index=24&type=chunk) - Results are not necessarily indicative of the full fiscal year ending January **31**, **2024**, and should be read in conjunction with the audited consolidated financial statements from the most recent Form **10-K**[24](index=24&type=chunk) [3. Investments and Acquisitions](index=6&type=section&id=3.Investments%20and%20Acquisitions) - Lakeland acquired **100%** of Eagle Technical Products Limited for **$10.5 million** in December **2022**, enhancing its fire and industrial protective apparel portfolio and expanding sales in the Middle East and Europe[32](index=32&type=chunk)[33](index=33&type=chunk) - The estimated earnout payment for the Eagle acquisition was reduced by **$0.5 million** in Q1 FY24, as Eagle did not meet the revenue threshold for the period May **1**, **2022**, through April **30**, **2023**[34](index=34&type=chunk)[35](index=35&type=chunk) - The company recognized losses of **$0.1 million** and **$27,000** for the three months ended April **30**, **2023**, and **2022**, respectively, as its share of Bodytrak's net loss, accounted for under the equity method[29](index=29&type=chunk) Pro forma combined financial information (Unaudited) | (in millions, except per share amount) | Quarter Ended April 30, 2023 | Quarter Ended April 30, 2022 | | :------------------------------------- | :--------------------------- | :--------------------------- | | Net sales | $28.7 | $28.2 | | Net income | $1.3 | $1.1 | | Basic earnings per share | $0.18 | $0.15 | | Diluted earnings per share | $0.18 | $0.15 | [4. Inventories](index=8&type=section&id=4.Inventories) | Inventory Component | April 30, 2023 ($000s) | January 31, 2023 ($000s) | | :-------------------- | :--------------------- | :--------------------- | | Raw materials | 29,473 | 29,036 | | Work-in-process | 992 | 952 | | Finished goods | 32,378 | 32,855 | | Excess and obsolete adjustments | (4,947) | (4,668) | | **Total Inventories** | **57,896** | **58,176** | [5. Goodwill and Intangible Assets, Net](index=8&type=section&id=5.%20Goodwill%20and%20Intangible%20Assets%2C%20Net) | Intangible Assets | Amount ($000s) | | :------------------------ | :------------- | | Balance at February 1, 2023 | 6,042 | | Amortization expense | (102) | | Balance at April 30, 2023 | 5,940 | - There were no material changes to goodwill during the quarter ended April **30**, **2023**[41](index=41&type=chunk) [6. Contract Advances](index=8&type=section&id=6.%20Contract%20Advances) | Contract Liability Activity | Amount ($000s) | | :-------------------------- | :------------- | | Contract liability – January 31, 2023 | 1,627 | | Increases to contract liability | 212 | | Decreases to contract liability | (500) | | Contract liability – April 30,

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark one) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended January 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____________ to ______________ Commission File Number: 0-15535 LAKELAND INDUSTRIES, INC. (Exact Name of Registrant as Specified in its Charter) (State or Other Jur ...

Financial Data and Key Metrics Changes - For Q3 2023, net sales were $28.4 million with a gross margin of 43.3%, showing sequential revenue growth primarily driven by volume [5][28] - Operating profit was $2.2 million, resulting in operating margins of 7.8%, up from 6.4% in Q2 2023 but down from 14.1% in Q3 2022 [29] - Net income for the quarter was $1.4 million or $0.19 per share, compared to a loss of $900,000 in Q2 2023 and a profit of $2.9 million in Q3 2022 [30] - EBITDA for Q3 2023 was $2.6 million, while adjusted EBITDA was $3 million, reflecting a decline from the prior-year period [31][32] Business Line Data and Key Metrics Changes - Disposables accounted for 50% of total revenues, down from 60% in the year-ago quarter, indicating a strategic shift towards higher value, higher margin products [27] - Gross profit margin improved to 43.3% from 41.3% in Q2 2023, benefiting from an improved product mix and pricing power [28] Market Data and Key Metrics Changes - Domestic sales were $14 million (49% of total revenues), while international sales were $14.4 million (51% of total revenues), indicating a shift towards U.S. markets due to challenges in European and Latin American markets [25][26] - Currency fluctuations negatively impacted revenues by approximately $1.6 million [26] Company Strategy and Development Direction - The company is focusing on shifting towards high-performance and critical environment product lines to reduce cyclicality and achieve long-term performance targets [13] - The acquisition of Eagle Technical Products for approximately $10.8 million is aimed at expanding global reach and enhancing product offerings, particularly in firefighting applications [14][21] - The company plans to proactively reduce inventory levels to align with current demand and free up capital for growth investments [12][37] Management's Comments on Operating Environment and Future Outlook - Management acknowledged macroeconomic headwinds affecting revenue growth, particularly in European and Asian markets due to inflation and COVID policies [6][10] - The company anticipates continued challenges in the first half of the next year but sees potential growth opportunities in India as it aims to replace China as a manufacturing hub [7][46] - Management remains focused on operational efficiency and adapting to market conditions while pursuing long-term strategic goals [9][10] Other Important Information - Capital expenditures for the year are expected to be approximately $2 million, primarily for expanding manufacturing facilities in Mexico, Vietnam, and India [33] - The company ended the quarter with cash and cash equivalents of approximately $34.9 million and no debt, with an additional $25 million available from bank credit facilities [34] Q&A Session Summary Question: Update on business size in India and growth potential - Management indicated that India is currently a mid-sized facility with under 100 employees, serving European and American markets, with growth expected primarily in the domestic market [46] Question: Potential for further acquisitions - Management acknowledged awareness of opportunities for M&A but emphasized a balanced approach to capital use, indicating that while M&A is not a priority, it remains a possibility [50]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark one) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended October 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______________ to _______________ COMMISSION FILE NUMBER: 0-15535 LAKELAND INDUSTRIES, INC. (Exact name of Registrant as specified in its charter) Delaware ...

Lakeland Industries, Inc. (NASDAQ:LAKE) Q2 2023 Earnings Conference Call September 8, 2022 4:30 PM ET Company Participants Charles Roberson - President & CEO Allen Dillard - COO & CFO Conference Call Participants Alex Fuhrman - Craig-Hallum Operator Good day, and welcome to the Lakeland Industries Fiscal 2023 Second Quarter Financial Results Conference Call. All lines have been placed on a listen-only mode and the floor will be opened for your questions and comments following the presentation. During today' ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark one) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended July 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______________ to _______________ COMMISSION FILE NUMBER: 0-15535 LAKELAND INDUSTRIES, INC. (Exact name of Registrant as specified in its charter) (State or O ...

Lakeland Industries, Inc. (NASDAQ:LAKE) Q1 2023 Earnings Conference Call June 9, 2022 4:30 PM ET Company Participants Charles Roberson - President and CEO Allen Dillard - COO and CFO Conference Call Participants Alex Fuhrman - Craig-Hallum Operator Good day and welcome to the Lakeland Industries Fiscal 2023 First Quarter Financial Results Conference Call. All lines have been placed on a listen-only mode and the floor will be opened for your questions and comments following the presentation. During today's c ...

Financial Performance - Consolidated external sales decreased to $27.28 million in Q1 FY22, down 19.9% from $34.10 million in Q1 FY21[69] - Gross profit for Q1 FY22 was $11.1 million, a decrease of 25% from $14.8 million in Q1 FY21, with gross profit margin dropping to 40.5%[70] - Operating profit fell to $1.4 million in Q1 FY22 from $6.6 million in Q1 FY21, resulting in an operating margin of 5.3%[71] - Net income decreased by $3.9 million to $1.1 million in Q1 FY22 compared to $5.0 million in Q1 FY21[73] Cash Flow and Liquidity - Cash and cash equivalents were approximately $50.8 million as of April 30, 2022, with a decrease of $1.9 million from January 31, 2022[74] - Net cash provided by operating activities was $1.9 million for Q1 FY22, primarily due to net income of $1.1 million[78] Sales and Market Challenges - The company experienced a decrease in sales to international customers, with net sales of $16.0 million in Q1 FY22 compared to $18.4 million in Q1 FY21[64] - Operating expenses increased by 18.5% to $9.6 million in Q1 FY22, primarily due to higher travel, trade show, and administrative expenses[70] - The company is facing challenges related to hiring, retention, and wage inflation, which may impact future growth[67] Strategic Initiatives - Manufacturing operations in China and Mexico are being expanded to control rising costs and achieve growth objectives[63] - The Company entered into a Loan Agreement providing a secured $12.5 million revolving credit facility, with a potential increase to $17.5 million[80] - An Amendment to the Loan Agreement increased the credit limit from $12.5 million to $25.0 million, allowing acquisitions up to $7.5 million individually or $15.0 million cumulatively without prior consent[81] - The Loan Agreement requires a Funded Debt to EBITDA ratio of 3.0 to 1.0 or less and a Basic Fixed Charge Coverage Ratio of at least 1.15 to 1.0, with compliance confirmed as of April 30, 2022[82] - The Company approved a stock repurchase program allowing repurchases of up to $5 million, with an additional $5 million authorized later, and approximately $0.4 million remaining as of April 30, 2022[84] - Capital expenditures for the first three months of FY23 were $0.4 million, with an anticipated total of approximately $3.0 million for FY23, focusing on ERP deployment and strategic capacity expansion[85]