Home / Knowledge / News / Apparel/Garments / Chile & UK sales standout in Lakeland Q3FY'13 results
Chile & UK sales standout in Lakeland Q3FY'13 results
15
Dec '12
Lakeland Industries, Inc. a leading global manufacturer of industrial protective clothing for industry, municipalities, healthcare and to first responders on the federal, state and local levels, announced financial results for its third quarter and first nine months of fiscal year 2013 ended October 31, 2012. 

For all periods, the prior year financial results have been restated to reflect the Company's India glove manufacturing subsidiary as a discontinued operation. In this press release, references to "FY" refer to the Company's fiscal year ended January 31; for example, FY13 refers to the fiscal year ending January 31, 2013.

Financial Results Highlights and Recent Company Developments

-International revenues from continuing operations as a percentage of consolidated sales increased to 59% in the third quarter of FY13 from 49% in the third quarter of FY12

-Consolidated revenues were lower primarily due to elimination of sales of DuPont products

-International sales of $14.4 million in the third quarter of FY13 increased by $2.4 million or 20% from $12.0 million in the third quarter of FY12

-Cash balance of $5.6 million and TD Bank debt of $15.4 million at October 31, 2012 outstanding on our TD Bank facility

-Chile and UK achieved major increases in sales in Q3 over Q3 last year with increases of 203% and 83.4%, respectively

-Reached a settlement agreement in September regarding the arbitration result in Brazil

-Closed on amended banking terms with TD Bank in October, waiving all defaults and revising covenants such that the Company is in compliance in Q3

-While still small, domestic sales in Mexico, Russia and Kazakhstan are gaining traction to the point of each becoming modestly profitable in Q3

Click here to read and view results of Q3 and first nine months of fiscal year 2013 ended October 31, 2012.

Lakeland Industries

Must ReadView All

Apparel/Garments | On 28th Sep 2016

CMAI inks MoU with Chinese textile trade body CCCT

Indian apex clothing association, the Clothing Manufacturers...

Textiles | On 28th Sep 2016

India sees largest gain on WEF’s Competitiveness Index

India has shown the largest gain made by any country on the World...

Textiles | On 28th Sep 2016

Oerlikon to show new yarns and fibres at ITMA+CITME expo

The Oerlikon Manmade Fibers segment, the world market leader for...

Interviews View All

Kamlesh Vaghela
RK Textiles

Mukesh Agarwal & Rajesh Agarwal
Madhuram Fincap Pvt Ltd

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
September 2016

September 2016

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


Advanced Search