Lakeland Industries and Lakeland Protective Wear Enters into First Amendment to Loan and Security Agreement with Alostar Bank of Commerce
Apr 2 15
On March 31, 2015, Lakeland Industries Inc. and its wholly-owned subsidiary, Lakeland Protective Wear Inc., entered into a First Amendment to Loan and Security Agreement with AloStar Bank of Commerce relating to their senior revolving credit facility. Pursuant to the Amendment, the parties agreed to (i) reduce the rate of interest on the revolving loans by 200 basis points and correspondingly lower the minimum interest rate floor from 6.25% to 4.25% per annum, and (ii) extend the maturity date of the credit facility to June 28, 2017.
Lakeland Industries Inc. Presents at 27th Annual ROTH Conference, Mar-09-2015 10:30 AM
Feb 13 15
Lakeland Industries Inc. Presents at 27th Annual ROTH Conference, Mar-09-2015 10:30 AM. Venue: The Ritz Carlton, 1 Ritz Carlton Dr, Dana Point, CA 92629, United States.
Lakeland Industries Inc. Announces Unaudited Consolidated Financial Results for the Third Quarter and Nine Months Ended October 31, 2014
Dec 10 14
Lakeland Industries Inc. announced unaudited consolidated financial results for the third quarter and nine months ended October 31, 2014. For the quarter, the company reported sales of $25,093,000 against $22,787,000 a year ago. Operating profit was $697,000 against operating loss of $1,030,000 a year ago. LBITDA was $1,206,000 against $408,000 a year ago. Adjusted EBITDA was $2,280,000 against $1,611,000 a year ago. Operating income was $697,000 against operating loss of $1,030,000 a year ago. Net loss was $2,500,000 or $0.420 per diluted share against $1,835,000 or $0.310 per diluted share a year ago. Loss before taxes was $2,218,000 against $1,506,000 a year ago. Total debt has been reduced by about $10 million in third quarter.
For the nine months, the company reported sales of $73,210,000 against $69,163,000 a year ago. Operating profit was $2,747,000 against operating profit of $30,000 a year ago. Loss before taxes was $1,612,000 against $8,864,000 a year ago. EBITDA was $1,148,000 against $1,005,000 a year ago. Adjusted EBITDA was $5,656,000 against $4,205,000 a year ago. Operating income was $2,747,000 against $30,000 a year ago. Net loss was $2,886,000 or $0.486 per diluted share against net income of $1,491,000 or $0.266 per diluted share a year ago. Loss before taxes was $1,905,000 against $1,612,000 a year ago. Cash flow from operating activities which, for the first 9 months of 2014, was nearly $3.5 million, a stark contrast from cash used in operating activities in the same period of last year of $3 million.
Lakeland Industries Inc. to Report Q3, 2015 Results on Dec 10, 2014
Nov 14 14
Lakeland Industries Inc. announced that they will report Q3, 2015 results at 4:30 PM, US Eastern Standard Time on Dec 10, 2014