2024 Q4 Form 10-Q Financial Statement

#000165495424015308 Filed on December 10, 2024

View on sec.gov

Income Statement

Concept 2024 Q4
Revenue $45.76M
YoY Change 44.46%
Cost Of Revenue $27.20M
YoY Change 48.5%
Gross Profit $18.56M
YoY Change 38.91%
Gross Profit Margin 40.56%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $17.75M
YoY Change 82.27%
Operating Profit $807.0K
YoY Change -77.71%
Interest Expense $490.0K
YoY Change 3669.23%
% of Operating Profit 60.72%
Other Income/Expense, Net -$84.00K
YoY Change 58.49%
Pretax Income $233.0K
YoY Change -93.45%
Income Tax $147.0K
% Of Pretax Income 63.09%
Net Earnings $86.00K
YoY Change -96.72%
Net Earnings / Revenue 0.19%
Basic Earnings Per Share
Diluted Earnings Per Share
COMMON SHARES
Basic Shares Outstanding 7.428M shares
Diluted Shares Outstanding 7.665M shares

Balance Sheet

Concept 2024 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $15.84M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory $72.72M
Prepaid Expenses
Receivables $26.56M
Other Receivables
Total Short-Term Assets $125.3M
YoY Change 20.45%
LONG-TERM ASSETS
Property, Plant & Equipment $12.68M
YoY Change 38.47%
Goodwill $22.40M
YoY Change 164.33%
Intangibles $15.53M
YoY Change 170.71%
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $75.92M
YoY Change 71.39%
TOTAL ASSETS
Total Short-Term Assets $125.3M
Total Long-Term Assets $75.92M
Total Assets $201.2M
YoY Change 35.67%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $16.71M
YoY Change 145.64%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $29.64M
YoY Change 91.07%
LONG-TERM LIABILITIES
Long-Term Debt
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $29.64M
Total Long-Term Liabilities
Total Liabilities $76.53M
YoY Change 209.5%
SHAREHOLDERS EQUITY
Retained Earnings $68.98M
YoY Change -2.13%
Common Stock $88.00K
YoY Change 1.15%
Preferred Stock
YoY Change
Treasury Stock (at cost) $19.98M
YoY Change 0.0%
Treasury Stock Shares
Shareholders Equity $124.7M
YoY Change
Total Liabilities & Shareholders Equity $201.2M
YoY Change 35.67%

Cashflow Statement

Concept 2024 Q4
OPERATING ACTIVITIES
Net Income $86.00K
YoY Change -96.72%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities
YoY Change
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities
YoY Change
NET CHANGE
Cash From Operating Activities
Cash From Investing Activities
Cash From Financing Activities
Net Change In Cash
YoY Change
FREE CASH FLOW
Cash From Operating Activities
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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dei Local Phone Number
LocalPhoneNumber
350-3873
dei Security12b Title
Security12bTitle
Common Stock
dei Trading Symbol
TradingSymbol
LAKE
dei Security Exchange Name
SecurityExchangeName
NASDAQ
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
dei Entity Small Business
EntitySmallBusiness
true
dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
false
dei Entity Shell Company
EntityShellCompany
false
CY2024Q4 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
7405604 shares
CY2024Q4 us-gaap Revenues
Revenues
45761000 usd
CY2023Q4 us-gaap Revenues
Revenues
31678000 usd
us-gaap Revenues
Revenues
120583000 usd
us-gaap Revenues
Revenues
93449000 usd
CY2024Q4 us-gaap Cost Of Revenue
CostOfRevenue
27201000 usd
us-gaap Operating Expenses
OperatingExpenses
30699000 usd
CY2024Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
807000 usd
CY2023Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
3621000 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
1418000 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
9289000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2678000 usd
CY2024Q4 us-gaap Net Income Loss
NetIncomeLoss
86000 usd
CY2024Q4 lake Earnings Per Shares Basics
EarningsPerSharesBasics
0.01
CY2023Q4 lake Earnings Per Shares Basics
EarningsPerSharesBasics
0.35
lake Earnings Per Shares Basics
EarningsPerSharesBasics
0.05
lake Earnings Per Shares Basics
EarningsPerSharesBasics
0.87
CY2024Q4 lake Earning Per Shares Diluted
EarningPerSharesDiluted
0.01
CY2023Q4 lake Earning Per Shares Diluted
EarningPerSharesDiluted
0.34
lake Earning Per Shares Diluted
EarningPerSharesDiluted
0.05
lake Earning Per Shares Diluted
EarningPerSharesDiluted
0.85
CY2023Q4 us-gaap Net Income Loss
NetIncomeLoss
2618000 usd
us-gaap Net Income Loss
NetIncomeLoss
363000 usd
CY2024Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
26563000 usd
CY2024Q4 us-gaap Deferred Income Taxes And Other Tax Receivable Current
DeferredIncomeTaxesAndOtherTaxReceivableCurrent
7358000 usd
CY2024Q1 us-gaap Deferred Income Taxes And Other Tax Receivable Current
DeferredIncomeTaxesAndOtherTaxReceivableCurrent
3111000 usd
CY2024Q4 us-gaap Assets Current
AssetsCurrent
125296000 usd
CY2024Q1 us-gaap Assets Current
AssetsCurrent
101505000 usd
CY2024Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
4939000 usd
CY2024Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
2487000 usd
CY2024Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2024Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1500000 shares
CY2024Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 usd
CY2024Q1 us-gaap Preferred Stock Value
PreferredStockValue
0 usd
CY2024Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2024Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
20000000 shares
CY2024Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
8763812 shares
CY2024Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
8722965 shares
CY2024Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
7405604 shares
CY2024Q1 us-gaap Treasury Stock Common Shares
TreasuryStockCommonShares
1358208 shares
CY2024Q1 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-5360000 usd
CY2024Q4 us-gaap Stockholders Equity
StockholdersEquity
124687000 usd
CY2024Q1 us-gaap Stockholders Equity
StockholdersEquity
123450000 usd
CY2024Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
201213000 usd
CY2024Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
153745000 usd
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
119990000 usd
us-gaap Net Income Loss
NetIncomeLoss
6402000 usd
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-2110000 usd
us-gaap Dividends
Dividends
687000 usd
lake Restricted Stock Issued Amount
RestrictedStockIssuedAmount
0 usd
us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
747000 usd
lake Return Of Shares In Lieu Of Payroll Withholding
ReturnOfSharesInLieuOfPayrollWithholding
-420000 usd
lake Treasury Stock Purchased Amount
TreasuryStockPurchasedAmount
-333000 usd
CY2023Q4 us-gaap Stockholders Equity
StockholdersEquity
123589000 usd
CY2023Q3 us-gaap Stockholders Equity
StockholdersEquity
121385000 usd
CY2023Q4 us-gaap Net Income Loss
NetIncomeLoss
2618000 usd
CY2023Q4 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-483000 usd
CY2023Q4 us-gaap Dividends
Dividends
222000 usd
CY2023Q4 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
302000 usd
CY2023Q4 lake Return Of Shares In Lieu Of Payroll Withholding
ReturnOfSharesInLieuOfPayrollWithholding
-11000 usd
CY2023Q4 us-gaap Stockholders Equity
StockholdersEquity
123589000 usd
CY2024Q1 us-gaap Stockholders Equity
StockholdersEquity
123450000 usd
us-gaap Net Income Loss
NetIncomeLoss
363000 usd
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
903000 usd
us-gaap Dividends
Dividends
664000 usd
lake Restricted Stock Issued Amount
RestrictedStockIssuedAmount
1000 usd
us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
1081000 usd
lake Return Of Shares In Lieu Of Payroll Withholding
ReturnOfSharesInLieuOfPayrollWithholding
-447000 usd
CY2024Q4 us-gaap Stockholders Equity
StockholdersEquity
124687000 usd
CY2024Q3 us-gaap Stockholders Equity
StockholdersEquity
124716000 usd
CY2024Q4 us-gaap Net Income Loss
NetIncomeLoss
86000 usd
CY2024Q4 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-205000 usd
CY2024Q4 us-gaap Dividends
Dividends
222000 usd
CY2024Q4 lake Restricted Stock Issued Amount
RestrictedStockIssuedAmount
1000 usd
CY2024Q4 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
455000 usd
CY2024Q4 lake Return Of Shares In Lieu Of Payroll Withholding
ReturnOfSharesInLieuOfPayrollWithholding
-144000 usd
CY2024Q4 us-gaap Stockholders Equity
StockholdersEquity
124687000 usd
us-gaap Profit Loss
ProfitLoss
363000 usd
us-gaap Profit Loss
ProfitLoss
6402000 usd
us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
-431000 usd
us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
-1783000 usd
us-gaap Depreciation And Amortization
DepreciationAndAmortization
3011000 usd
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
75000 usd
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-1000 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-3211000 usd
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
-285000 usd
us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
0 usd
us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
1510000 usd
lake Payment To Acquire Investmnt In Convertible Debt Instrument
PaymentToAcquireInvestmntInConvertibleDebtInstrument
0 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-25387000 usd
us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
3418000 usd
us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
405000 usd
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-1087000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-9383000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-1786000 usd
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
25222000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
24639000 usd
CY2024Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
15839000 usd
us-gaap Interest Paid Net
InterestPaidNet
1032000 usd
us-gaap Interest Paid Net
InterestPaidNet
22000 usd
us-gaap Income Taxes Paid
IncomeTaxesPaid
2631000 usd
us-gaap Nature Of Operations
NatureOfOperations
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><strong>1. </strong><strong>Business</strong></p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 45px; text-align:justify;">Lakeland Industries, Inc. and Subsidiaries (“Lakeland,” the “Company,” “we,” “our” or “us”), a Delaware corporation organized in April 1986, manufacture and sell a comprehensive line of industrial protective clothing and accessories for the industrial and public protective clothing market. Our products are sold globally by our in-house sales teams, our customer service group, and authorized independent sales representatives to a network of over 2,000 global safety and industrial supply distributors. Our authorized distributors supply end users, such as integrated oil, chemical/petrochemical, automobile, steel, glass, construction, smelting, cleanroom, janitorial, pharmaceutical, and high technology electronics manufacturers, as well as scientific, medical laboratories and the utilities industry. In addition, we supply federal, state and local governmental agencies and departments, such as fire and law enforcement, airport crash rescue units, the Department of Defense, the Department of Homeland Security and the Centers for Disease Control. Internationally, we sell to a mixture of end users directly and to industrial distributors depending on the particular country and market. Sales are made to more than 50 countries, the majority of which were into China, countries within the European Economic Community (“EEC”), Canada, Chile, Argentina, Russia, Kazakhstan, Colombia, Mexico, Ecuador, India, Middle East, Southeast Asia, Australia, Hong Kong and New Zealand.</p>
CY2024Q4 lake Recognized Loss On Securities
RecognizedLossOnSecurities
100000 usd
CY2024Q1 us-gaap Goodwill
Goodwill
13669000 usd
us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
6988000 usd
us-gaap Goodwill Purchase Accounting Adjustments
GoodwillPurchaseAccountingAdjustments
1284000 usd
us-gaap Foreign Currency Transaction Loss Before Tax
ForeignCurrencyTransactionLossBeforeTax
456000 usd
CY2024Q4 us-gaap Goodwill
Goodwill
22397000 usd
lake Foreign Currency Transaction Loss Before Taxes
ForeignCurrencyTransactionLossBeforeTaxes
246000 usd
CY2024Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
15528000 usd
CY2024Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
363000 usd
CY2024Q4 us-gaap Cash Uninsured Amount
CashUninsuredAmount
15500000 usd
CY2024Q4 lake Cash Balances In Foreign Bank Accounts
CashBalancesInForeignBankAccounts
15000000.0 usd
CY2024Q3 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
7900000 usd
CY2024Q1 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
6700000 usd
CY2024Q4 us-gaap Net Income Loss
NetIncomeLoss
86000 usd
CY2023Q4 us-gaap Net Income Loss
NetIncomeLoss
2618000 usd
us-gaap Net Income Loss
NetIncomeLoss
363000 usd
us-gaap Net Income Loss
NetIncomeLoss
6402000 usd
CY2024Q4 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
236081 shares
CY2024Q4 lake Earnings Per Shares Basics
EarningsPerSharesBasics
0.01
CY2023Q4 lake Earnings Per Shares Basics
EarningsPerSharesBasics
0.35
lake Earnings Per Shares Basics
EarningsPerSharesBasics
0.05
lake Earnings Per Shares Basics
EarningsPerSharesBasics
0.87
CY2024Q4 lake Earning Per Shares Diluted
EarningPerSharesDiluted
0.01
CY2023Q4 lake Earning Per Shares Diluted
EarningPerSharesDiluted
0.34
lake Earning Per Shares Diluted
EarningPerSharesDiluted
0.05
lake Earning Per Shares Diluted
EarningPerSharesDiluted
0.85

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