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Lakeland Fire + Safety to Attend the 15th Annual ROTH London Conference
Globenewswire· 2025-06-12 12:31
Company Overview - Lakeland Industries, Inc. is a leading global manufacturer of protective clothing and apparel for various sectors including industry, healthcare, and first responders [4] - The company offers a comprehensive line of fire services and industrial protective clothing and accessories, sold globally through in-house sales teams and authorized independent sales representatives [4] - Lakeland serves a diverse range of end users including integrated oil, chemical/petrochemical, automobile, transportation, steel, glass, construction, and governmental agencies [4] Upcoming Event - Jim Jenkins, CEO, and Roger Shannon, CFO, will attend the 15th Annual ROTH London Conference from June 24-26, 2025 [1][3] - The event will feature one-on-one and small group meetings with institutional investors [2][3] - The conference will take place at the Four Seasons Hotel London at Park Lane [3]
Lakeland's Q1 Earnings Miss Estimates, Sales Increase Y/Y
ZACKS· 2025-06-10 14:31
Core Viewpoint - Lakeland Industries, Inc. reported a first-quarter fiscal 2026 adjusted loss of 41 cents per share, missing the Zacks Consensus Estimate of 27 cents, while net sales of $46.7 million also fell short of the expected $49 million but showed a year-over-year increase of 28.7% [1] Sales Performance - Domestic sales reached $20.7 million, reflecting a year-over-year increase of 44.8% - International sales grew by 18.2% year over year to $26.0 million [1] Costs & Margins - Cost of sales was $31.1 million, up 54.5% year over year - Operating expenses increased to $20.3 million, a rise of 45% - Interest expenses rose to $583 thousand from $172 thousand in the previous year - The net loss for the quarter was $3.9 million, compared to a net income of $1.7 million a year ago - Gross margin decreased to 33.5% from 44.6% in the year-ago quarter [2] Adjusted EBITDA - Adjusted EBITDA, excluding foreign exchange losses, was $0.6 million, down from $3.8 million in the same period last year [3] Balance Sheet/Cash Flow - Cash and cash equivalents at the end of the quarter were $18.6 million, up from $17.5 million at the end of January 2025 - Total liabilities increased to $74.7 million from $65.9 million at the end of fiscal 2025 - The company used $4.8 million in operating activities, compared to $0.3 million cash provided in the year-ago quarter [4] Stockholders' Equity - Total stockholders' equity at the end of the quarter was $143.4 million, down from $146.6 million a year ago [5] Guidance - For fiscal 2026, Lakeland expects revenues in the range of $210-$220 million and an adjusted EBITDA between $24-$29 million [6]
Lakeland(LAKE) - 2026 Q1 - Earnings Call Transcript
2025-06-09 21:32
Financial Data and Key Metrics Changes - The company achieved record net sales of $46.7 million, representing a 29% year-over-year increase driven by a 100% increase in fire services products [4][14] - Consolidated gross margin decreased to 33.5% from 44.6% for the comparable period [15][18] - Net loss was $3.9 million or $0.41 per share compared to net income of $1.7 million or $0.22 per share for the same period last year [16][20] - Adjusted EBITDA excluding FX was $600,000, a decrease of $3.2 million or 84% compared to the prior year [20][24] Business Line Data and Key Metrics Changes - Fire services segment grew by 100% year-over-year, contributing $10.5 million to the revenue increase [16][26] - Organic revenue increased by $600,000 or 2% to $36.9 million, with strong growth in the U.S. and Europe, partially offset by declines in Latin America and Canada [17][26] - U.S. net sales increased 42% year-over-year to $22.5 million, while European sales increased 102% to $12.1 million [5][26] Market Data and Key Metrics Changes - Organic fire services business in the U.S. grew by $1 million or 32% year-over-year, while the U.S. industrial organic business grew by $1.1 million or 9.7% [17] - Latin American operations saw a 12% decrease in sales year-over-year, while sales in Asia increased by 15% [25][68] Company Strategy and Development Direction - The company is focused on accelerating growth within the fragmented $2 billion fire protection sector and enhancing operational efficiencies [4][12] - A new company-wide SAP ERP system is being implemented to modernize and consolidate systems [7] - The company maintains a robust M&A pipeline and is engaged in active discussions to explore new opportunities for further consolidating the fire market [12][33] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating tariff uncertainties and expects sequential growth in gross margins and adjusted EBITDA in the second quarter [12][30] - The company anticipates revenue between $210 million to $220 million for the fiscal year, trending towards the lower end of previously issued adjusted EBITDA guidance [30][33] - Management highlighted the importance of customer relationships and operational efficiency as key focus areas [8][32] Other Important Information - Capital expenditures for the quarter were $1.2 million, primarily related to the new ERP system [6][28] - Inventory increased to $85.8 million due to tariff mitigation strategies and preparation for forecasted sales increases [8][29] Q&A Session Summary Question: Can you provide more details on the impact of purchase variance and amortization on gross margins? - The total increase to manufacturing costs was close to $3 million impacting adjusted EBITDA, with purchase variance estimated to have a 2-3 margin point impact [40][41] Question: What are the expectations for operating expenses moving forward? - Travel expenses were up significantly in Q1 but are expected to taper off, with additional measures in place to identify $4 million in cost savings [46][52] Question: How is the head-to-toe strategy progressing? - The company is seeing greater engagement and opportunities, particularly with larger clients, and is focused on bundling products for comprehensive offerings [55][60]
Lakeland(LAKE) - 2026 Q1 - Earnings Call Transcript
2025-06-09 21:30
Financial Data and Key Metrics Changes - The company achieved record net sales of $46.7 million, representing a 29% year-over-year increase, driven by a 100% increase in fire services products [4][15] - Consolidated gross margin decreased to 33.5% from 44.6% for the comparable period [15][19] - Net loss was $3.9 million or $0.41 per share, compared to net income of $1.7 million or $0.22 per share for the same period last year [16][21] - Adjusted EBITDA excluding FX was $600,000, a decrease of $3.2 million or 84% compared to the prior year [21][24] Business Line Data and Key Metrics Changes - Fire services segment grew by 100% year-over-year, contributing $10.5 million to the revenue increase [17][27] - Organic revenue increased by $600,000 or 2% to $36.9 million, with strong growth in the U.S. and Europe, partially offset by declines in Latin America and Canada [18][26] - U.S. net sales increased 42% year-over-year to $22.5 million, with organic growth of $2.1 million or 15% [5][27] - European net sales increased 102% year-over-year to $12.1 million [5][26] Market Data and Key Metrics Changes - Latin American operations saw a 12% decrease in sales year-over-year, primarily due to shipment timing and tariff impacts [26][64] - Sales in Asia increased by 15% year-over-year, indicating positive growth in that region [26] - The company experienced lower sales in Canada and delays in Latin America due to tariff uncertainties [7][12] Company Strategy and Development Direction - The company is focused on accelerating growth within the fragmented $2 billion fire protection sector and enhancing customer relationships [4][8] - A new company-wide SAP ERP system is being implemented to modernize and consolidate operations [6][7] - The company aims to navigate tariff uncertainties while pursuing strategic acquisitions to consolidate the fragmented fire market [13][32] - Long-term strategies include growing both fire services and industrial PPE verticals while maintaining operational efficiencies [32][33] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating tariff uncertainties and expects sequential growth in gross margins and adjusted EBITDA in the second quarter [9][13] - The company anticipates revenue between $210 million to $220 million for the fiscal year, trending towards the lower end of adjusted EBITDA guidance due to near-term order delays [30][33] - Management remains optimistic about the recovery of sales in higher-margin regions once tariff uncertainties subside [12][64] Other Important Information - Capital expenditures for the quarter were $1.2 million, primarily related to the new ERP system [6][29] - The company ended the quarter with cash and cash equivalents of approximately $18.6 million and long-term debt of $24.7 million [29] Q&A Session Summary Question: Can you elaborate on the impact of purchase variance and amortization on gross margins? - The total increase to manufacturing costs was close to $3 million, significantly impacting adjusted EBITDA, with about a 1% impact on gross margins from purchase accounting [36][38][41] Question: What are the expectations for operating expenses moving forward? - Travel expenses were notably high in Q1 due to various events, but are expected to decrease. Increased SG&A was also attributed to higher labor costs and freight related to inventory movements [43][46][47] Question: How is the head-to-toe strategy progressing? - The company is seeing greater engagement and opportunities in the market, particularly with the glove strategy from the Meridian acquisition, and is focused on bundling products for comprehensive offerings [50][52][56] Question: What are the expectations for organic growth for the full year? - The company expects organic growth to remain in the high single digits, with strong growth in the U.S. offset by declines in Latin America and Canada [63][64] Question: Will the Jolly order be crucial for achieving revenue goals? - The Jolly order is important but not the sole determinant for revenue goals, with ongoing positive engagement with the Italian government regarding procurement [66][67] Question: What is the expected cadence for EBITDA improvement throughout the year? - Improvement is expected in the second quarter, with a gradual increase in EBITDA as inventory issues and cost containment efforts normalize [68][69]
Lakeland(LAKE) - 2026 Q1 - Earnings Call Presentation
2025-06-09 20:21
Financial Performance - Net sales increased by 29% to a record of $46.7 million[13], driven by a 100% increase in Fire Services products[13] - U S net sales increased 42% to $22.5 million[13] and Europe net sales increased 102% to $12.1 million[13] - Gross margin decreased to 33.5% from 44.6% for the comparable year-ago period[13] - Adjusted EBITDA excluding FX was $0.6 million, a decrease of $3.2 million, or 84%, compared with $3.8 million for the comparable year-ago period[13] - Net loss of $3.9 million, driven by lower margins and $1.8 million of non-cash expenses[21] Balance Sheet and Cash Flow - Net inventories increased by $3.1 million, totaling $85.8 million on April 30, 2025[13] - Cash and cash equivalents increased from $17.5 million to $18.6 million[14] - Organic inventory is up $14.8 million year over year[42] Looking Ahead - The company reiterates FY 2026 revenue guidance of $210 million to $220 million and adjusted EBITDA excluding FX guidance of $24 million to $29 million[13,45]
Lakeland(LAKE) - 2026 Q1 - Quarterly Report
2025-06-09 20:12
Financial Performance - Net sales for the three months ended April 30, 2025, were $46.7 million, an increase of $10.4 million or 28.7% compared to $36.3 million for the same period in 2024[116] - Gross profit for the three months ended April 30, 2025, was $15.6 million, a decrease of $0.6 million or 3.7% from $16.2 million in the same period in 2024, with gross profit margin dropping to 33.5% from 44.6%[117] - The company reported an operating loss of $4.6 million for the three months ended April 30, 2025, compared to an operating profit of $2.2 million for the same period in 2024[119] - Net loss for the three months ended April 30, 2025, was ($3.9) million, down from net income of $1.7 million for the same period in 2024[121] Sales and Acquisitions - Sales from the Fire Services product line increased by $10.5 million, driven by $9.8 million in sales from the acquisitions of Veridian and LHD[116] - The company acquired Veridian for approximately $26.1 million and LHD for $14.8 million, enhancing its product offerings in firefighter protective apparel[111][112] Operating Expenses - Operating expenses increased by $6.3 million or 45.0%, from $14.0 million in Q1 FY24 to $20.3 million in Q1 FY25, primarily due to acquisitions and transaction-related expenses[118] - Cash used in operations was $4.9 million due to the net loss and an increase in working capital[124] Cash and Liquidity - Cash and cash equivalents as of April 30, 2025, were approximately $18.6 million, with working capital at approximately $104.4 million[122] - The company expects to repatriate cash from China during FY26, with an accrued withholding tax expense of $0.3 million[123] Debt and Credit Facilities - The Company has a secured revolving credit facility of up to $60.0 million from December 12, 2024, through January 31, 2026, and up to $50.0 million from February 1, 2026, through January 31, 2027[128] - The maximum principal amount under the revolving credit facility was reduced to $40 million following the use of net proceeds from equity issuance[128] - The Company must maintain a minimum basic fixed charge coverage ratio of at least 1.20x and a funded debt to EBITDA ratio not exceeding 3.5x, with step-downs to 3.25x and 3.0x in 2026 and 2027, respectively[130] - The Amended Loan Agreement includes a fee based on the difference between the line of credit commitment and the actual amount used, calculated at the Applicable Rate[129] Shareholder Returns - The Company authorized a stock repurchase program allowing for the repurchase of up to $10.0 million of its outstanding common stock[131] - No shares were repurchased in the three months ended April 30, 2025, leaving $5.0 million remaining under the share repurchase program[132] - A quarterly cash dividend of $0.03 per share was declared on February 1, 2025, and paid on February 24, 2025[132] Capital Expenditures - Capital expenditures for the three months ended April 30, 2025, were $1.2 million, primarily for a new ERP system and replacement equipment[133] - Anticipated capital expenditures for FY26 are approximately $3.0 million for equipment replacement and expansion of manufacturing capabilities[133] Compliance - The Company was in compliance with all debt covenants as of April 30, 2025[130]
Lakeland(LAKE) - 2026 Q1 - Quarterly Results
2025-06-09 20:06
Lakeland Industries Fiscal First Quarter 2026 Financial Results [Financial & Operational Highlights](index=1&type=section&id=Financial%20%26%20Operational%20Highlights) Record net sales were driven by Fire Services growth, but profitability significantly declined due to margin contraction and a net loss Q1 FY2026 vs Q1 FY2025 Key Financial Metrics | $ in millions | FY Q1'26 | FY Q1'25 | $ Change YoY | % Change YoY | | :--- | :--- | :--- | :--- | :--- | | **Net Sales** | $46.7 | $36.3 | $10.4 | 29% | | **Gross Profit** | $15.6 | $16.2 | ($0.6) | (4%) | | **Gross Margin** | 33.5% | 44.6% | - | -1,110 BPS | | **Net (Loss) Income** | ($3.9) | $1.7 | ($5.6) | (337%) | | **Adjusted EBITDA** | ($0.2) | $3.8 | ($4.0) | (105%) | | **Adjusted EBITDA ex. FX** | $0.6 | $3.8 | ($3.2) | (84%) | - Fire Services product line sales doubled to **$21.0 million**, increasing its share of total revenue to **45%**[1](index=1&type=chunk)[12](index=12&type=chunk) - Significant regional sales growth was observed in the U.S. (**+42%** to **$22.5 million**) and Europe (**+102%** to **$12.1 million**)[1](index=1&type=chunk)[12](index=12&type=chunk) - The company's LHD subsidiary secured a contract renewal of up to 12 years with Fire and Emergency New Zealand (FENZ) for apparel and decontamination services[12](index=12&type=chunk) [Management Commentary](index=1&type=section&id=Management%20Commentary) Management noted strong revenue growth offset by regional softness and margin pressures, while pursuing M&A and expecting future improvement - CEO Jim Jenkins noted that while revenue approached expectations, shortfalls in Latin America (shipment timing) and Canada (tariff delays) impacted results[5](index=5&type=chunk) - The company is actively pursuing M&A opportunities, particularly in fire suit rental, decontamination, and services, to expand its head-to-toe fire portfolio[6](index=6&type=chunk) - CFO Roger Shannon specified that Q1 consolidated gross margin fell to **33.5%** due to geographic revenue mix, amortization of inventory write-up from acquisitions (**$0.4 million**), and elevated freight costs (**$0.6 million**)[21](index=21&type=chunk) - Management has identified up to **$4 million** in cash savings and is pursuing a sale-leaseback of its Decatur facility to enhance financial flexibility[24](index=24&type=chunk) - The company targets expanding EBITDA margins to the **mid-to-high teens** over the next 3-5 years as it gains scale and realizes efficiencies[25](index=25&type=chunk) [Q1 FY2026 Financial Performance Analysis](index=3&type=section&id=Q1%20FY2026%20Financial%20Performance%20Analysis) Net sales grew significantly driven by acquisitions, but gross profit declined and increased operating expenses led to a substantial net loss Q1 FY2026 Revenue Breakdown ($M) | Category | Q1 FY2026 | Q1 FY2025 | % Change YoY | | :--- | :--- | :--- | :--- | | **Total Net Sales** | $46.7 | $36.3 | 29% | | - Organic Sales | $36.9 | $36.3 | 2% | | - Acquisition Sales | $9.9 | - | N/A | | **By Segment** | | | | | - Fire Services | $21.0 | $10.5 | 100% | | **By Geography** | | | | | - U.S. | $22.5 | $15.9 | 42% | | - Europe | $12.1 | $6.0 | 102% | | - Asia | $12.0 | $10.4 | 15% | | - LATAM | $4.3 | $4.9 | (12%) | - Organic gross margin decreased to **35.9%** from **44.6%** in the prior year, primarily due to lower sales in high-margin Latin American and Canadian markets and material price variance allocations[9](index=9&type=chunk)[13](index=13&type=chunk) - Operating expenses increased by **$6.3 million** (**45%**) to **$20.3 million**, driven by **$3.0 million** in expenses from newly acquired Veridian and LHD, as well as severance, litigation, and selling costs[14](index=14&type=chunk)[22](index=22&type=chunk) - The company ended the quarter with **$18.6 million** in cash and cash equivalents and had **$19.8 million** in borrowings outstanding under its revolving credit facility[17](index=17&type=chunk) [Tariff Mitigation & Operational Updates](index=2&type=section&id=Tariff%20Mitigation%20%26%20Operational%20Updates) Lakeland strategically increased inventory and shifted production to lower-tariff countries and Mexico to mitigate tariff uncertainty - The company executed a strategic inventory buildup, increasing net inventories by **$3.1 million** to a total of **$85.8 million** to get ahead of imposed tariffs[9](index=9&type=chunk) - Key tariff mitigation strategies include[9](index=9&type=chunk) - Strategic stocking of raw materials and finished goods - Shifting production in Asia to lower-tariff countries - Utilizing tariff-exempt production from its Mexican facility [FY 2026 Guidance and Outlook](index=5&type=section&id=FY%202026%20Guidance%20and%20Outlook) Lakeland reaffirms FY2026 revenue guidance but expects Adjusted EBITDA ex-FX at the lower end of its range, anticipating sequential improvement Fiscal Year 2026 Guidance | Metric | Guidance Range | | :--- | :--- | | **Revenue** | $210M - $220M | | **Adjusted EBITDA excluding FX** | Lower end of $24M - $29M | - The company anticipates sequential growth in both gross margin and Adjusted EBITDA (excluding FX) in the second quarter of fiscal 2026[1](index=1&type=chunk) - Guidance is based on the current order backlog and expectations, and is subject to risks including tariff uncertainty and other economic factors[26](index=26&type=chunk)[41](index=41&type=chunk) [Financial Statements & Reconciliations](index=7&type=section&id=Financial%20Statements%20%26%20Reconciliations) [Reconciliation of GAAP to Non-GAAP Results](index=7&type=section&id=Reconciliation%20of%20GAAP%20to%20Non-GAAP%20Results) The company provided detailed reconciliations, adjusting GAAP net loss to Adjusted EBITDA ex-FX and total revenue to organic revenue Q1 FY2026 Reconciliation of Net Loss to Adjusted EBITDA ex. FX ($000) | Line Item | Amount | | :--- | :--- | | **Net loss** | **($3,913)** | | Interest expense | $583 | | Taxes | ($1,198) | | Depreciation and amortization | $1,138 | | **EBITDA** | **($3,390)** | | Adjustments (Acquisition, Severance, etc.) | $3,214 | | **Adjusted EBITDA** | **($176)** | | Currency Fluctuation | $778 | | **Adjusted EBITDA excluding FX** | **$602** | Q1 FY2026 Organic Revenue & Gross Margin Reconciliation ($000) | Line Item | Amount | | :--- | :--- | | **Net Sales** | **$46,748** | | Revenue from acquisitions | ($9,873) | | **Organic Revenue** | **$36,875** | | **Gross Profit** | **$15,644** | | Gross Profit from acquisitions | $2,410 | | **Organic Gross Profit** | **$13,234** | | **Organic Gross Margin** | **35.9%** | [Condensed Consolidated Statements of Operations](index=11&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) The statement of operations shows a net loss of **($3.9) million** or **($0.41)** per share, driven by lower gross profit and higher operating expenses Condensed Consolidated Statements of Operations (Unaudited, $000s) | | Three Months Ended April 30, | | :--- | :--- | :--- | | | **2025** | **2024** | | **Net sales** | $46,746 | $36,309 | | **Gross profit** | $15,644 | $16,184 | | **Operating (loss) income** | ($4,634) | $2,202 | | **Net (loss) income** | **($3,913)** | **$1,653** | | **Diluted (loss) income per share** | **($0.41)** | **$0.22** | [Condensed Consolidated Balance Sheets](index=12&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) The balance sheet as of April 30, 2025, shows total assets of **$218.1 million**, with increased inventories and long-term loans payable Key Balance Sheet Items (Unaudited, $000s) | | **April 30, 2025** | **January 31, 2025** | | :--- | :--- | :--- | | Cash and cash equivalents | $18,618 | $17,476 | | Inventories | $85,823 | $82,739 | | **Total current assets** | **$140,706** | **$136,531** | | **Total assets** | **$218,128** | **$212,531** | | **Total current liabilities** | **$36,267** | **$34,907** | | Loans payable – long term | $24,651 | $16,426 | | **Total liabilities** | **$74,746** | **$65,905** | | **Total stockholders' equity** | **$143,382** | **$146,626** | [Condensed Consolidated Statements of Cash Flows](index=13&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash used in operating activities was **($4.8) million**, driven by net loss and inventory increase, while financing activities provided **$8.5 million** Cash Flow Summary (Unaudited, $000s) | | Three Months Ended April 30, | | :--- | :--- | :--- | | | **2025** | **2024** | | **Net cash (used in) provided by operating activities** | **($4,841)** | **$293** | | **Net cash (used in) investing activities** | **($1,209)** | **($9,246)** | | **Net cash provided by financing activities** | **$8,507** | **$11,586** | | **Net increase in cash and cash equivalents** | **$1,142** | **$3,143** | | **Cash and cash equivalents at end of period** | **$18,618** | **$28,365** |
Lakeland Industries Reports Fiscal First Quarter 2026 Financial Results
Globenewswire· 2025-06-09 20:01
Core Insights - Lakeland Industries reported a record net sales of $46.7 million for Q1 FY 2026, representing a 29% increase year-over-year, driven by a 100% increase in Fire Services products, which accounted for 45% of total revenue [1][10][12] - The company experienced significant growth in U.S. net sales, which increased by 42% to $22.5 million, and European net sales, which surged by 102% to $12.1 million [1][10] - Despite the revenue growth, the company faced challenges with a net loss of $3.9 million, compared to a net income of $1.7 million in the same quarter last year, indicating a 337% decline [2][14] Financial Performance - Net sales for Q1 FY 2026 were $46.7 million, up from $36.3 million in Q1 FY 2025, marking a $10.4 million increase [2][10] - Gross profit decreased by 4% to $15.6 million, with a gross margin of 33.5%, down from 44.6% in the previous year, reflecting a decline of 1,110 basis points [2][12] - Adjusted EBITDA excluding foreign exchange effects was $0.6 million, a decrease of 84% from $3.8 million in Q1 FY 2025 [2][15] Market Dynamics - The company noted that tariff uncertainties and associated mitigation strategies impacted its operations, but an improving global tariff environment is expected to support sequential growth in gross margin and adjusted EBITDA in Q2 FY 2026 [1][4] - Management expressed optimism about future growth in Latin America and Canada, despite current softness in those markets due to shipment timing and tariff-related delays [3][4] Strategic Initiatives - Lakeland is focused on expanding its fire services and industrial verticals while pursuing mergers and acquisitions to consolidate the fragmented fire market [4][23] - The company has completed four acquisitions recently, which are expected to enhance its product offerings and market reach [4][18] Guidance and Outlook - The company maintains its FY 2026 revenue guidance in the range of $210 to $220 million, including contributions from recent acquisitions [25] - Adjusted EBITDA excluding FX is expected to be in the lower end of the range of $24 million to $29 million due to lower margins and near-term order delays [25]
CENTERSPACE ANNOUNCES ENTRANCE INTO THE SALT LAKE CITY MARKET, PLANNED PORTFOLIO TRANSACTIONS, AND QUARTERLY DIVIDEND
Prnewswire· 2025-06-02 20:30
Core Viewpoint - Centerspace has made significant acquisitions in the multifamily real estate sector, expanding its portfolio and geographic presence, particularly in the Mountain West region [2][3]. Acquisition Details - The company acquired a community in Salt Lake City, UT, for $149 million, consisting of 341 homes in the desirable Sugar House submarket [1][2]. - Centerspace has signed an agreement to acquire a 420-home community in Fort Collins, CO, for approximately $132 million, with the closing expected in mid-June 2025 [3]. Portfolio Management - Centerspace is marketing its five-community portfolio in Saint Cloud, MN, indicating a strategic exit from that market [4]. - The company plans to market several communities from its Minneapolis portfolio for sale as part of its portfolio optimization strategy [4]. Financial Strategy - To enhance financial flexibility during these transactions, Centerspace has expanded its line of credit by $150 million, increasing the total borrowing capacity to $400 million [5]. - The company’s previous earnings guidance did not account for these acquisitions or dispositions, and it plans to provide updated guidance with its second quarter 2025 earnings release [6]. Dividend Announcement - Centerspace's Board of Trustees declared a regular quarterly distribution of $0.77 per share/unit, payable on July 10, 2025, to shareholders and unitholders of record by June 27, 2025 [7]. Company Overview - Centerspace is an owner and operator of apartment communities, currently owning 72 communities with a total of 13,353 homes across several states, including Colorado, Minnesota, and Utah [8].
Lakeland Fire + Safety to Host Fiscal First Quarter 2026 Financial Results Conference Call on Monday, June 9, 2025 at 4:30 p.m. Eastern Time
Globenewswire· 2025-05-30 12:31
Core Viewpoint - Lakeland Industries, Inc. will host a conference call on June 9, 2025, to discuss its financial results for the fiscal first quarter 2026, which ended on April 30, 2025 [1][2]. Group 1: Conference Call Details - The conference call will be led by Lakeland's President and CEO Jim Jenkins and CFO Roger Shannon, followed by a Q&A session [2]. - The call is scheduled for June 9, 2025, at 4:30 p.m. Eastern Time, with dial-in options provided for participants [2]. - A telephone replay will be available approximately three hours after the call and will remain accessible until September 9, 2025 [2]. Group 2: Company Overview - Lakeland Fire + Safety manufactures and sells a wide range of protective clothing and accessories for industrial and first responder markets [3]. - The company distributes its products globally through in-house sales teams and authorized independent representatives, serving various industries including oil, chemical, automotive, and healthcare [3]. - Lakeland's international sales extend to over 50 countries, with significant markets in China, the European Economic Community, Canada, and several Latin American countries [3].