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HUNTSVILLE, Ala. - Protective clothing manufacturer Lakeland Industries, Inc. (NASDAQ:LAKE), currently valued at approximately $125 million in market capitalization, has been added to the Russell 3000 and Russell 2000 indexes effective after market close on June 27, 2025, the company announced Monday.
The inclusion comes as part of FTSE Russell’s annual reconstitution process, which captures the 4,000 largest U.S. stocks as of April 30 and ranks them by total market capitalization.
Lakeland, which manufactures protective clothing for industrial, healthcare and first responder markets, recently reported sales revenue growth of 29%, including a 100% increase in Fire Services revenue, according to the company’s press release statement.
"Our inclusion in the Russell Indexes is an important milestone and builds upon our recently reported sales revenue growth," said Jim Jenkins, President, Chief Executive Officer and Executive Chairman of Lakeland.
The Russell indexes are widely used by investment managers and institutional investors, with approximately $10.6 trillion in assets benchmarked against them as of June 2024, according to data cited in the announcement.
Membership in the Russell indexes remains in place for one year and is determined primarily based on objective market capitalization rankings and style attributes.
Lakeland Industries sells its protective clothing and accessories through a global network of distributors to various industries including oil, chemical, automobile, and pharmaceutical sectors, as well as to governmental agencies and departments.
In other recent news, Lakeland Industries reported a significant revenue increase of 29% year-over-year for Q1 2025, reaching $46.7 million. Despite this growth, the company faced a net loss of $3.9 million, a stark contrast to the previous year’s net income of $1.7 million. The decline in profitability was attributed to increased operational expenses and tariff-related challenges, particularly impacting gross profit margins, which fell from 44.6% to 33.5%. The company held its 2025 Annual Meeting of Stockholders, where Class III directors were elected, and the appointment of RSM US LLP as the independent auditor was ratified. Executive compensation was also approved on an advisory basis. Lakeland Industries projects full-year revenue between $210 million and $220 million, with adjusted EBITDA expected to range from $24 million to $29 million. The company aims for sequential growth in gross margins and EBITDA in upcoming quarters. Additionally, Lakeland Industries is navigating tariff uncertainties and is focused on operational efficiencies to improve future financial performance.
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