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Lakeland Industries fiscal Q1 profit climbs YOY

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Lakeland Industries fiscal Q1 profit climbs YOY

Lakeland Industries Inc. said its normalized net income for the fiscal first quarter ended April 30 amounted to 26 cents per share, compared with the S&P Capital IQ consensus estimate of 27 cents per share.

EPS increased year over year from 4 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $1.9 million, a gain from $235,630 in the prior-year period.

The normalized profit margin increased to 7.7% from 1.1% in the year-earlier period.

Total revenue climbed 14.1% on an annual basis to $24.8 million from $21.8 million, and total operating expenses grew year over year to $21.6 million from $20.9 million.

Reported net income grew from the prior-year period to $2.2 million, or 30 cents per share, from $355,390, or 6 cents per share.