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Lakeland Industries, Inc. Issues Updates on Fiscal 2013
Date:5/1/2013

RONKONKOMA, N.Y., May 1, 2013 /PRNewswire/ -- Lakeland Industries, Inc. (NASDAQ: LAKE), a leading global manufacturer of industrial protective clothing for industry, municipalities, healthcare and to first responders on the federal, state and local levels, today announced the Company has filed a Form 12b-25 requesting delay in filing its Annual Report on Form 10-K. The Company is working with a potential financing opportunity, currently in the process of due diligence. The company can offer no assurance that such financing will close on a timely basis or will close at all.

(Logo: http://photos.prnewswire.com/prnh/20120611/NY21959LOGO )

The following is the Company's preliminary revenue data:Summary of Revenue ($000)

year ended January 31,

quarter ended January 31,2013

2012

2013

2012Sales

95,118

96,327

23,399

20,165


  • The Company took a $10 million goodwill impairment charge against our Brazil operations as a result of poor sales in Brazil in the fourth quarter of fiscal 2013, which we reported on March 7, 2013.
  • The Company anticipates that it will take an additional $800,000 markdown on the Indian assets held for sale due to the difficulty in disposing of this property and the likely realizable value.
  • Excluding Brazil sales, Lakeland worldwide sales have had sequential growth for four consecutive quarters starting with Q4 fiscal 2012 as the low point resulting from the termination of the Company's supply contract with DuPont.
  • Lakeland sales with and without Brazil by quarter ($000)Q4FY12

    Q1FY13

    Q2FY13

    Q3FY13

    Q4FY13

    Q4 year over ye
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    SOURCE Lakeland Industries, Inc.
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    All rights reserved

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