Lakeland Industries (LAKE) Reports Q4 Revenues Above Estimates

Lakeland Industries (NASDAQ: LAKE) reported Q4 EPS of ($0.04), versus $0.20 reported last year. Revenue for the quarter came in at $25.2 million versus the consensus estimate of $23.18 million.

Fiscal 2018 Fourth Quarter Financial Results Highlights and Recent Developments

• Net sales for 4Q18 of $25.2 million increased 23.9% from $20.3 million in 4Q17
• Gross profit for 4Q18 of $9.9 million increased 27.7% from $7.8 million in 4Q17
• Gross margin as a percentage of net sales in 4Q18 was 39.4%, up from 38.2% in 4Q17
• Non-cash impairment charge of $0.8 million included in operating expenses relating to write down of assets held-for-sale in Brazil
• Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA)* for 4Q18, which excludes one-time items and non-cash expenses including stock based compensation, is $2.2 million as compared to $2.4 million in 4Q17
• Adjusted free cash flow* for 4Q18, which is Adjusted EBITDA less cash paid for foreign taxes and capital expenditures of $1.6 million increased 0.4% from $1.6 million in 4Q17
• One-time, non-cash income tax expense of $5.1 million in connection with the 2017 Tax Cuts and Jobs Act ("Tax Act")
• Net loss for 4Q18, which includes one-time items and non-cash expenses mentioned above of $4.9 million or $0.64 per basic share compared to net income of $0.9 million or $0.13 per basic share in 4Q17

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

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