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Lakeland Industries fiscal Q2 profit climbs 19.6% YOY

Lakeland Industries Inc. said its normalized net income for the fiscal second quarter ended July 31 amounted to 7 cents per share, a gain of 14.4% from 6 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $419,100, an increase of 19.6% from $350,440 in the prior-year period.

The normalized profit margin rose to 3.4% from 1.4% in the year-earlier period.

Total revenue came to $24.6 million, compared with $24.6 million in the year-earlier period, and total operating expenses came to $23.1 million, compared with $23.3 million in the year-earlier period.

Reported net income came to a loss of $414,720, or a loss of 7 cents per share, compared to income of $4.2 million, or 74 cents per share, in the prior-year period.