Lakeland industries, inc. reports fiscal 2023 second quarter financial results

Net sales of $28.2 million, up 3.3% sequentially and an increase of 2.6% year-over-year huntsville, al / accesswire / september 8, 2022 / lakeland industries, inc. (nasdaq:lake) (the "company" or "lakeland"), a leading global manufacturer of protective clothing for industry, healthcare and first responders on the federal, state and local levels, today announced financial results for its fiscal 2023 second quarter ended july 31, 2022. fiscal 2023 second quarter financial results highlights net sales of $28.2 million, up 3.3% sequentially and an increase of 2.6% year-over-year gross margin was 41.3%, above the company's long-term target threshold of 40% and up from 40.5% in 1q23 net loss of $0.9 million or ($0.11) per basic common share in 2q23 after discrete tax provision non-gaap net income* of $1.1 million or $0.15 per basic common share in 2q23 consistent with $0.9 million or $0.13 per basic common share in 1q23 earnings before interest, taxes, depreciation, and amortization (ebitda)* of $2.1 million in 2q23, compared to $1.9 million in 1q23 completed $2.7 million of share repurchases during the quarter currency headwinds of $0.8 million, due primarily to fluctuation in the chinese yuan "lakeland is pleased to have delivered another quarter of sequential improvement, characterized by quarter-over-quarter and year-over-year volume growth as well as maintaining a gross margin of over 40%," said charles d.
LAKE Ratings Summary
LAKE Quant Ranking