Lakeland Industries Inc. Files 2024 10-K Report

Ticker: LAKE · Form: 10-K · Filed: Apr 11, 2024 · CIK: 798081

Sentiment: neutral

Topics: 10-K, Lakeland Industries, Annual Report, Fiscal Year 2024, Financials

TL;DR

<b>Lakeland Industries Inc. has filed its annual 10-K report for the fiscal year ending January 31, 2024.</b>

AI Summary

LAKELAND INDUSTRIES INC (LAKE) filed a Annual Report (10-K) with the SEC on April 11, 2024. Lakeland Industries Inc. filed its 10-K report for the fiscal year ending January 31, 2024. The company's fiscal year concludes on January 31st annually. The filing was made on April 11, 2024. The SIC code for Lakeland Industries Inc. is 3842 (Orthopedic, Prosthetic & Surgical Appliances & Supplies). The company is incorporated in Delaware.

Why It Matters

For investors and stakeholders tracking LAKELAND INDUSTRIES INC, this filing contains several important signals. This 10-K filing provides a comprehensive overview of Lakeland Industries Inc.'s financial performance, operations, and risk factors for the fiscal year 2024. Investors and stakeholders can use this report to assess the company's financial health, strategic direction, and potential risks moving forward.

Risk Assessment

Risk Level: medium — LAKELAND INDUSTRIES INC shows moderate risk based on this filing. The company operates in the Orthopedic, Prosthetic & Surgical Appliances & Supplies industry (SIC 3842), which can be subject to regulatory changes and market demand fluctuations.

Analyst Insight

Review the detailed financial statements and risk factors in the 10-K to understand Lakeland Industries Inc.'s performance and outlook.

Key Numbers

Key Players & Entities

FAQ

When did LAKELAND INDUSTRIES INC file this 10-K?

LAKELAND INDUSTRIES INC filed this Annual Report (10-K) with the SEC on April 11, 2024.

What is a 10-K filing?

A 10-K is a comprehensive annual financial report required by the SEC, covering audited financials, business operations, risk factors, and management discussion. This particular 10-K was filed by LAKELAND INDUSTRIES INC (LAKE).

Where can I read the original 10-K filing from LAKELAND INDUSTRIES INC?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by LAKELAND INDUSTRIES INC.

What are the key takeaways from LAKELAND INDUSTRIES INC's 10-K?

LAKELAND INDUSTRIES INC filed this 10-K on April 11, 2024. Key takeaways: Lakeland Industries Inc. filed its 10-K report for the fiscal year ending January 31, 2024.. The company's fiscal year concludes on January 31st annually.. The filing was made on April 11, 2024..

Is LAKELAND INDUSTRIES INC a risky investment based on this filing?

Based on this 10-K, LAKELAND INDUSTRIES INC presents a moderate-risk profile. The company operates in the Orthopedic, Prosthetic & Surgical Appliances & Supplies industry (SIC 3842), which can be subject to regulatory changes and market demand fluctuations.

What should investors do after reading LAKELAND INDUSTRIES INC's 10-K?

Review the detailed financial statements and risk factors in the 10-K to understand Lakeland Industries Inc.'s performance and outlook. The overall sentiment from this filing is neutral.

How does LAKELAND INDUSTRIES INC compare to its industry peers?

Lakeland Industries Inc. operates within the Orthopedic, Prosthetic & Surgical Appliances & Supplies industry. This sector is characterized by innovation, regulatory oversight, and demand driven by healthcare needs.

Are there regulatory concerns for LAKELAND INDUSTRIES INC?

Companies in the surgical appliance and supply sector are subject to regulations from bodies like the FDA, impacting product development, manufacturing, and marketing.

Industry Context

Lakeland Industries Inc. operates within the Orthopedic, Prosthetic & Surgical Appliances & Supplies industry. This sector is characterized by innovation, regulatory oversight, and demand driven by healthcare needs.

Regulatory Implications

Companies in the surgical appliance and supply sector are subject to regulations from bodies like the FDA, impacting product development, manufacturing, and marketing.

What Investors Should Do

  1. Analyze the financial statements for revenue trends and profitability.
  2. Identify key operational risks and management's mitigation strategies.
  3. Evaluate the company's competitive positioning within the SIC 3842 industry.

Key Dates

Year-Over-Year Comparison

This is the initial filing analyzed for the fiscal year ending January 31, 2024. Comparative data from the previous year will be available within the full report.

Filing Stats: 4,339 words · 17 min read · ~14 pages · Grade level 14.3 · Accepted 2024-04-10 19:30:35

Key Financial Figures

Filing Documents

Business

Business 1 Item 1A.

Risk Factors

Risk Factors 8 Item 1B. Unresolved Staff Comments 19 Item 1C. Cybersecurity 19 Item 2.

Properties

Properties 21 Item 3.

Legal Proceedings

Legal Proceedings 21 Item 4. Mine Safety Disclosures 21 PART II: Item 5. Market for the Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 22 Item 6. [Reserved] 23 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 23 Item 7A.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 32 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data F-1 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 33 Item 9A.

Controls and Procedures

Controls and Procedures 33 Item 9B. Other Information 33 Item 9C. Disclosure Regarding Foreign Jurisdictions That Prevent Inspections 33 PART III: Item 10. Directors, Executive Officers and Corporate Governance 34 Item 11.

Executive Compensation

Executive Compensation 34 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholders Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholders Matters 34 Item 13. Certain Relationships and Related Transactions, and Director Independence 35 Item 14. Principal Accountant Fees and Services 35 PART IV: Item 15. Exhibit and Financial Statement Schedules 36 Item 16. Form 10-K Summary 39 ii Table of Contents Information Relating to Forward-Looking Statements This Annual Report on Form 10-K may contain (and verbal statements made by Lakeland Industries, Inc. may contain) "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements relate to future events or future financial performance and involve various assumptions, known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. These risks and other factors include, but are not limited to, those listed in this report under "Risk Factors," "Management's Discussion and Analysis of Financial Condition and Results of Operations," and elsewhere in this report. In some cases, you can identify forward-looking statements by words such as "may," "will," "should," "expects," "intends," "plans," "objectives," "anticipates," "believes," "estimates," "predicts," "potential" or other comparable words. Actual results, performance or outcomes may differ materially from those expressed or implied by these forward-looking statements and may not align with historical performance and events due to a number of factors, including those discussed in the sections of this report described above. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements,

BUSINESS

ITEM 1. BUSINESS Overview – Lakeland Industries is a global provider of quality safety products that protect the world's workers, first responders, and communities during the most critical situations. The Company's products, which are governed by rigorous safety standards and regulations, are used to either protect the wearer from their environment or protect a product or process from the wearer in a broad range of markets around the world, including chemical, clean room, energy, fire service, manufacturing, and utility applications. Lakeland's product portfolio includes firefighter protective apparel and accessories, high-end chemical protective suits, limited use/disposable protective clothing, durable woven garments, high visibility clothing, gloves, and protective sleeves. The Company's strong market position across its focus product categories and markets is supported by continued and increasing investment in its global footprint, particularly owning and operating its own manufacturing facilities acquiring complementary companies or products that expand and enhance product offerings and/or geographic customer territories, and investing in sales and marketing resources in countries around the world. We believe that ownership of manufacturing is the keystone to building a resilient supply chain and providing high-quality products to our customers. Having seven manufacturing locations in seven countries on five continents, coupled with sourcing core raw materials from multiple suppliers in various countries, affords Lakeland with superior manufacturing capabilities and supply chain resilience when compared to our competitors who use contractors. Additionally, our focus on providing customers with best-in-class service includes the strategic location of our sales team members. Lakeland has 95 sales employees located in 24 countries selling into more than 50 countries globally. Lakeland is committed to protecting the world's workers, first responders, and commun

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