Lakeland Industries, Inc. Reports Earnings Per Share Increase Of 67% For The Fiscal 2010 Fourth Quarter
Lakeland Industries, Inc. (NASDAQ: LAKE) today announced financial results for its fourth quarter and full fiscal year 2010 ended January 31, 2010.
Financial Results Highlights and Recent Company Developments
Fourth Quarter Fiscal Year 2010 Financial Results
Net Sales. Net sales were $24.8 million in the fourth quarter of 2010, an increase of 11.5% from $22.3 million in the comparable 2009 period, and an increase of 11.5% as compared to revenues of $22.3 million in the third quarter of 2010. The year-over-year increase in revenue was mainly a result of a 38.4% increase in revenue from Brazil, along with strong growth in Chile and the UK, and modest increases from India and China. Domestic revenues were $15.1 million in the fourth quarter of 2010, a 1.5% decline from $15.4 million in the prior year period, but an increase of 5.6% from $14.3 million in the third quarter of fiscal 2010. International revenues were $9.7 million in the 2010 fourth quarter, an increase of 40.4% from $6.9 million in the 2009 period and an increase of 21.3% from $8.0 million in the third quarter of fiscal 2010. As a percentage of 4QFY10 consolidated sales, international revenues accounted for 39%, an increase from 31% for the same period of fiscal 2009, and domestic revenues accounted for 61%, a decrease from 69% in the 2009 period.International growth was led by sales at Qualytextil, representing the Company’s operations in Brazil, which had fourth quarter revenues of $4.0 million, an increase from $2.9 million in 4QFY09 and $3.4 million in 3QFY10. Comparing regional revenues in 4QFY10 with 4QFY09, Chile sales increased 45.9% to $0.4 million, UK sales increased by 50% to $1.1 million, Canada sales decreased by 13% to $1.0 million, and China external sales increased by 29.0% to $2.3 million. Domestic revenues reflect a 6.6% increase in 4QFY10 disposable product sales as compared with the same quarter of 2009, offset in part by somewhat softer sales of reflective and other product categories, but a 22% decrease for the full year due to challenging business conditions and an extremely competitive pricing environment.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV