- Lakeland Industries, Inc. (NASDAQ:LAKE) reported a fourth-quarter net sales decline of 27% year-over-year to $26.8 million, missing the consensus of $29.9 million.
- Domestic sales were $11.2 million or 42% of total revenues, and international sales were $15.6 million or 58%.
- The gross margin was 39.2% for the quarter compared with 48.5% a year ago.
- Lakeland reported an operating profit of $1.1 million compared to $9.1 million a year ago. The operating margin was 4.2%, down from 24.5% in 4Q21.
- EPS decreased to $0.06 from $0.96 in 4Q21, missing the consensus of $0.37.
- Lakeland Industries EBITDA for Q4 was $2.2 million, down 79% Y/Y from $10.5 million in 4Q21
- The company Completed $3.3 million of share repurchases during the quarter.
- Free cash flow for FY22 was $6.67 million, compared to $35.44 million in FY21.
- As of January 31, 2022, Lakeland had cash and cash equivalents of ~$52.7 million.
- Price Action: LAKE shares are trading lower by 11.40% at $16.62 during the post-market session on Monday.
