Posted June 16, 2010
Lakeland Industries sales and profits up
Lakeland Industries reported that its net sales increased $1.4 million, or 5.8%, to $25.4 million for the three months ended April 30.
The net increase was due to an increase of $3.1 million in foreign sales, offset by a $1.7 million decrease in domestic sales. Gross profit increased $0.4 million or 6.5% to $6.4 million.
Sales of disposable products in North America declined by 8%. Despite weakness in U.S. sales, the U.S. Glove Division increased sales by 61.7%, driven by Indian glove product finally gaining traction.
The company expects to see an increase in sales as a result of the BP oil spill in the Gulf of Mexico. Lakeland also signed a licensing and production agreement with DuPont to sell DuPont garments in the United States.
