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Lakeland Industries profit beats consensus by 71.0% in fiscal Q2

Lakeland Industries Inc. said its normalized net income for the fiscal second quarter ended July 31 amounted to 48 cents per share, compared with the S&P Capital IQ consensus estimate of 28 cents per share.

EPS rose year over year from 13 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $3.4 million, an increase from $774,380 in the year-earlier period.

The normalized profit margin increased to 11.6% from 3.4% in the year-earlier period.

Total revenue increased 29.2% on an annual basis to $29.5 million from $22.8 million, and total operating expenses increased 13.1% on an annual basis to $23.8 million from $21.0 million.

Reported net income increased from the prior-year period to $3.6 million, or 50 cents per share, from $533,210, or 9 cents per share.