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HUNTSVILLE, Ala. - Lakeland Industries, Inc. (NASDAQ:LAKE), currently trading at $14.41 with a market capitalization of $137 million, announced Wednesday it has shipped a $3.1 million order of intervention boots to the Italian Ministry of the Interior’s Firefighters Department through its Jolly Scarpe brand. According to InvestingPro data, the company maintains a strong current ratio of 3.88, indicating robust ability to fulfill orders and meet short-term obligations.
The shipment of 47,500 specialized firefighting boots represents a milestone delivery within a previously awarded four-year supply contract, according to a company press release. This order comes at a crucial time for Lakeland, as InvestingPro analysis shows the company’s revenue growth forecast stands at 31% for the current fiscal year.
The boots feature GORE-TEX CROSSTECH lining for protection against pathogens and hazardous chemicals, and are made from sustainable full-grain tanned leather. The outsole is engineered for maximum heat resistance and grip under extreme conditions.
"This significant fire boot order from the Italian Ministry of the Interior exemplifies Jolly Scarpe’s competitive advantage and business strategy, and serves as a strong validation of this acquisition," said Jim Jenkins, President, Chief Executive Officer and Executive Chairman of Lakeland.
The Jolly intervention fire boot was specifically designed to meet the Italian Fire Brigade’s requirements, exceeding the minimum standards set by EN 15090:2012. The boots are manufactured at the company’s facility in Romania.
Lakeland acquired Jolly Scarpe as part of its strategy to expand its fire product offerings and enhance its presence in continental Europe. The company stated it is working to bring a NFPA-certified Jolly fire boot to the U.S. market.
Lakeland Industries manufactures protective clothing and apparel for industrial, healthcare and first responder markets globally, with sales in more than 50 countries. While the company’s stock has experienced a significant 36.6% decline over the past six months, analysts remain optimistic about its future profitability. For deeper insights into Lakeland’s financial health and growth prospects, including exclusive ProTips and comprehensive analysis, check out the detailed research report available on InvestingPro.
In other recent news, Lakeland Industries reported a notable 29% increase in revenue for the first quarter of 2025, reaching $46.7 million. Despite this growth, the company experienced a net loss of $3.9 million, or $0.41 per share, compared to a net income of $1.7 million in the same quarter last year. The company also announced plans to close two facilities, one in Hull, England, and another in Quitman, Arkansas, as part of a cost-cutting strategy expected to save approximately $1 million annually for the rest of fiscal year 2026. Additional initiatives are projected to yield another $3 million in annualized savings.
DA Davidson has reiterated its Buy rating on Lakeland Industries, maintaining a price target of $23.00 following positive investor meetings with company management. Furthermore, Lakeland Industries has been added to the Russell 3000 and Russell 2000 indexes, effective after market close on June 27, 2025. During its 2025 Annual Meeting of Stockholders, the company elected Class III directors, ratified its independent auditor, and approved executive compensation. These developments reflect ongoing strategic and financial activities within the company.
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