Lakeland Industries Q1 net income rises 5.9% for FY'07
09 Jun '06
4 min read
Finished good inventories declined by $4,248,067 or 17.27 percent from their January 31, 2006 levels, however raw material purchasing continued at higher levels than normal in order to take advantage of discounts offered by suppliers.
Thus raw materials increased by $2,619,114 or 14percent since January 31, 2006. Such discounts should positively impact our fourth quarter earnings as these discounted raw materials roll through our international pipelines.
Our overall inventory position at January 31, 2006 declined by $1,061,986 for the first quarter ended April 30, 2006. One additional reason for our buildup in inventory was to protect us from possible supply-chain interruptions.
Lakeland is among one of the leading companies designing and manufacturing protective garments for industry, municipalities, and the burgeoning homeland security field. Lakeland Industries' products have established and maintained their global reputation for overall quality. Indeed, our products have long been recognized as the field's gold standard for quality -- that essential, expected and deserved constituent of any protective wear.
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