2014 Q4 Form 10-Q Financial Statement

#000114420414073144 Filed on December 10, 2014

View on sec.gov

Income Statement

Concept 2014 Q4 2014 Q1 2013 Q4
Revenue $23.54M $22.22M $22.79M
YoY Change 3.32% -5.03% -5.99%
Cost Of Revenue $15.32M $15.97M $17.74M
YoY Change -13.64% -10.28% 4.66%
Gross Profit $8.223M $6.249M $5.042M
YoY Change 63.09% 11.63% -30.81%
Gross Profit Margin 34.93% 28.12% 22.13%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $270.0K $380.0K $450.0K
YoY Change -40.0% -9.52% 18.42%
% of Gross Profit 3.28% 6.08% 8.93%
Operating Expenses $6.940M $6.640M $6.080M
YoY Change 14.14% -6.21% -13.39%
Operating Profit $1.283M -$391.0K -$1.038M
YoY Change -223.6% -73.62% -488.76%
Interest Expense $511.0K -$1.000M -$530.0K
YoY Change -196.42% 1900.0% 60.61%
% of Operating Profit 39.83%
Other Income/Expense, Net -$2.245M $30.00K $60.00K
YoY Change -3841.67% -107.69% 20.0%
Pretax Income -$1.473M -$1.360M -$1.510M
YoY Change -2.45% -88.54% 15000.0%
Income Tax $280.0K $250.0K $330.0K
% Of Pretax Income
Net Earnings -$2.500M -$1.611M -$1.835M
YoY Change 36.24% -91.1% -748.41%
Net Earnings / Revenue -10.62% -7.25% -8.05%
Basic Earnings Per Share -$0.29 -$0.27 -$0.31
Diluted Earnings Per Share -$0.29 -$0.27 -$0.31
COMMON SHARES
Basic Shares Outstanding 5.952M shares 5.919M shares
Diluted Shares Outstanding 5.952M shares 5.919M shares

Balance Sheet

Concept 2014 Q4 2014 Q1 2013 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $7.000M $4.600M $5.000M
YoY Change 40.0% -31.34% -10.71%
Cash & Equivalents $6.935M $4.555M $5.019M
Short-Term Investments
Other Short-Term Assets $2.544M $2.108M $2.484M
YoY Change 2.41% 23.77% -77.62%
Inventory $38.92M $39.84M $40.44M
Prepaid Expenses
Receivables $15.10M $13.80M $15.00M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $69.87M $65.48M $68.23M
YoY Change 2.4% 2.52% -7.29%
LONG-TERM ASSETS
Property, Plant & Equipment $11.77M $12.07M $12.57M
YoY Change -6.39% -14.34% -10.84%
Goodwill $871.3K $871.3K $871.3K
YoY Change 0.0% 0.0%
Intangibles $493.6K $1.533M $1.783M
YoY Change -72.31% 221.32%
Long-Term Investments
YoY Change
Other Assets $3.800M $500.0K $5.700M
YoY Change -33.33% -88.89% 50.0%
Total Long-Term Assets $16.89M $15.00M $19.10M
YoY Change -11.6% -22.85% -30.28%
TOTAL ASSETS
Total Short-Term Assets $69.87M $65.48M $68.23M
Total Long-Term Assets $16.89M $15.00M $19.10M
Total Assets $86.76M $80.48M $87.34M
YoY Change -0.66% -3.4% -13.53%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $9.484M $8.181M $9.242M
YoY Change 2.63% 22.03% 24.89%
Accrued Expenses $2.574M $1.440M $2.510M
YoY Change 2.57% -40.22% -30.29%
Deferred Revenue
YoY Change
Short-Term Debt $3.686M $2.559M $2.701M
YoY Change 36.5% -64.11% -82.46%
Long-Term Debt Due $100.0K $100.0K $100.0K
YoY Change 0.0% 0.0% -90.0%
Total Short-Term Liabilities $24.34M $26.83M $28.59M
YoY Change -14.87% -3.83% -1.74%
LONG-TERM LIABILITIES
Long-Term Debt $900.0K $2.600M $2.600M
YoY Change -65.38% 100.0% 73.33%
Other Long-Term Liabilities $77.29K $71.22K $78.46K
YoY Change -1.49% -18.05% -99.05%
Total Long-Term Liabilities $77.29K $71.22K $78.46K
YoY Change -1.49% -18.05% -99.2%
TOTAL LIABILITIES
Total Short-Term Liabilities $24.34M $26.83M $28.59M
Total Long-Term Liabilities $77.29K $71.22K $78.46K
Total Liabilities $31.81M $36.01M $38.56M
YoY Change -17.51% -3.54% -0.87%
SHAREHOLDERS EQUITY
Retained Earnings -$3.478M -$3.745M
YoY Change 692.62%
Common Stock $64.64M $53.42M
YoY Change 4.69%
Preferred Stock
YoY Change
Treasury Stock (at cost) $3.352M $3.352M
YoY Change 0.0%
Treasury Stock Shares 356.4K shares 356.4K shares 356.4K shares
Shareholders Equity $54.96M $44.48M $48.78M
YoY Change
Total Liabilities & Shareholders Equity $86.76M $80.48M $87.34M
YoY Change -0.66% -3.4% -13.53%

Cashflow Statement

Concept 2014 Q4 2014 Q1 2013 Q4
OPERATING ACTIVITIES
Net Income -$2.500M -$1.611M -$1.835M
YoY Change 36.24% -91.1% -748.41%
Depreciation, Depletion And Amortization $270.0K $380.0K $450.0K
YoY Change -40.0% -9.52% 18.42%
Cash From Operating Activities $3.650M -$840.0K -$3.400M
YoY Change -207.35% 672.73%
INVESTING ACTIVITIES
Capital Expenditures -$160.0K -$150.0K -$110.0K
YoY Change 45.45% 66.67% -50.0%
Acquisitions
YoY Change
Other Investing Activities $0.00 -$180.0K -$100.0K
YoY Change -100.0% -122.5%
Cash From Investing Activities -$160.0K -$320.0K -$210.0K
YoY Change -23.81% -145.07% -4.55%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -2.710M 730.0K 2.770M
YoY Change -197.83% 65.91% -939.39%
NET CHANGE
Cash From Operating Activities 3.650M -840.0K -3.400M
Cash From Investing Activities -160.0K -320.0K -210.0K
Cash From Financing Activities -2.710M 730.0K 2.770M
Net Change In Cash 780.0K -430.0K -840.0K
YoY Change -192.86% -137.39% -15.15%
FREE CASH FLOW
Cash From Operating Activities $3.650M -$840.0K -$3.400M
Capital Expenditures -$160.0K -$150.0K -$110.0K
Free Cash Flow $3.810M -$690.0K -$3.290M
YoY Change -215.81% -866.67% 1395.45%

Facts In Submission

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<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> </div> <table style="LINE-HEIGHT: 115%; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt" border="0" cellspacing="0" cellpadding="0"> <tr> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 0.3pt; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top" width="0"></td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 0.25in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top" width="24"> <div style="CLEAR:both;MARGIN: 0in 0in 0pt; FONT-FAMILY: Times New Roman,serif; FONT-SIZE: 12pt"> <b><i><font style="FONT-SIZE: 10pt">1.</font></i></b></div> </td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 443.85pt; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top" width="592"> <div style="CLEAR:both;MARGIN: 0in 0in 0pt; FONT-FAMILY: Times New Roman,serif; FONT-SIZE: 12pt" align="justify"><b><i><font style="FONT-SIZE: 10pt"> Business</font></i></b></div> </td> </tr> </table> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt 0.2in" align="justify"><font style="FONT-SIZE: 10pt">Lakeland Industries, Inc. and Subsidiaries (the "Company"), a Delaware corporation organized in April 1982, manufactures and sells a comprehensive line of safety garments and accessories for the industrial protective clothing and homeland security markets. The principal market for our products is the United States. No customer accounted for more than 10% of net sales during the nine-month periods ended October 31, 2014 and 2013.</font></div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
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LAKELAND INDUSTRIES INC
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dei Entity Filer Category
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