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Lakeland Industries swings to profit in fiscal Q1

Lakeland Industries Inc. said its normalized net income for the fiscal first quarter ended April 30 amounted to $14,590, compared with a loss of $228,620 in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin rose to 1.1% from negative 1.1% in the year-earlier period.

Total revenue climbed 8.1% year over year to $23.5 million from $21.7 million, and total operating expenses increased 5.7% on an annual basis to $22.9 million from $21.7 million.

Reported net income totaled a loss of $60, or a loss of 0 cents per share, compared to a loss of $853,950, or a loss of 16 cents per share, in the prior-year period.