Lakeland Industries Inc. said its normalized net income for the fiscal third quarter ended Oct. 31 was 26 cents per share, compared with the S&P Capital IQ consensus estimate of 26 cents per share.
The per-share result swung to a profit from the prior-year loss of 15 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $1.9 million, compared with a loss of $920,630 in the prior-year period.
The normalized profit margin increased to 7.5% from negative 3.9% in the year-earlier period.
Total revenue climbed 5.7% on an annual basis to $24.9 million from $23.5 million, and total operating expenses declined on an annual basis to $21.7 million from $22.3 million.
Reported net income came to $2.1 million, or 29 cents per share, compared to a loss of $1.7 million, or a loss of 29 cents per share, in the prior-year period.