Lakeland Industries (LAKE) Tops Q2 EPS by 5c, Revenues In-Line

Lakeland Industries (NASDAQ: LAKE) reported Q2 EPS of $0.25, $0.05 better than the analyst estimate of $0.20. Revenue for the quarter came in at $23.9 million versus the consensus estimate of $23.91 million.

Fiscal 2018 Second Quarter Financial Results Highlights and Recent Developments

• Net sales for 2Q18 of $23.9 million increased 7.4% as compared with $22.3 million in 2Q17
• Sales growth in the Americas, Asia and rest of world offset softness in Europe
• Gross profit for 2Q18 of $8.7 million increased from $8.6 million in 2Q17
• Gross margin as a percentage of net sales in 2Q18 was 36.3%, down from 38.6% in 2Q17
• Net income increased to $1.8 million in 2Q18, up 29% from $1.4 million in 2Q17
• Basic and diluted earnings per share of $0.25 in 2Q18, up 25% from $0.20 in 2Q17
• Cash at end of quarter increased 27% to $13.2 million from $10.4 million at beginning of the fiscal year
• Total debt reduced by 52% to $2.8 million at the end of the quarter from $5.8 million at the beginning of the fiscal year
• Stockholders' equity increased by over 5% to $75.4 million at the end of 2Q18 from the beginning of the fiscal year
• On August 22, 2017, completed a public offering of 725,000 shares of common stock at a price of $13.80 per share for net proceeds of approximately $9.1 million

For earnings history and earnings-related data on Lakeland Industries (LAKE) click here.

You May Also Be Interested In

• Micron surges 5.5% on blockbuster Anthropic AI deal ahead of earnings
• Alphabet slides over 6% as AI brain drain and SpaceX slump converge
• Goldman reinstates Estee Lauder rating, sees turnaround driving growth and margins