Lakeland industries, inc. reports fiscal 2024 third quarter financial results

Net sales of $31.7 million, up 11.6% year-over-year, and gross margin of 42.2% continued strength in the company's high-value, strategic product lines huntsville, al / accesswire / december 6, 2023 / 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 2024 third quarter ended october 31, 2023. fiscal 2024 third quarter financial results highlights and recent developments net sales increased 11.6% to $31.7 million compared to $28.4 million last year gross margin was 42.2% compared to 43.3% last year net income was $2.6 million, or $0.35 per basic and $0.34 per diluted share, compared to net income of $1.4 million, or $0.19 per basic and diluted share, last year adjusted ebitda* was $3.3 million compared to $3.0 million last year with a margin* of 10.4% compared to 10.4% last year foreign currency exchange movements negatively impacted operating expenses and adjusted ebitda by $1.2 million compared to $0.5 million last year, respectively completed acquisition of pacific helmets nz, ltd ("pacific") subsequent to quarter end, enhancing lakeland's fire service offering *adjusted ebitda and adjusted ebitda margin are non-gaap financial measures.
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