Lakeland Industries reports annual meeting results

On Thursday, June 12, 2025, Lakeland Industries (NASDAQ:LAKE), Inc., a Delaware-incorporated company specializing in orthopedic, prosthetic, and surgical appliances and supplies, held its 2025 Annual Meeting of Stockholders. The meeting, occurring amid challenging market conditions with the stock trading near its 52-week low of $14.00, resulted in the election of Class III directors, the ratification of the company’s independent auditor, and the approval of executive compensation. The company, with a market capitalization of approximately $137 million, has seen its shares decline by 32% over the past six months.

The elected Class III directors will serve for a three-year term expiring at the 2028 Annual Meeting of Stockholders. Thomas J. McAteer received 6,270,599 votes for and 434,914 withheld; James M. Jenkins received 6,661,819 votes for and 43,654 withheld; Nikki L. Hamblin received 6,330,527 votes for and 374,946 withheld. Each director’s election saw 230,596 broker non-votes.

Stockholders ratified the appointment of RSM US LLP as the independent registered public accounting firm for the fiscal year ending January 31, 2026, with 6,896,879 votes for, 38,660 against, and 530 abstentions.

Additionally, the compensation paid to the company’s named executive officers was approved on an advisory basis, with 6,313,903 votes for, 130,994 against, and 260,576 abstentions, accompanied by 230,596 broker non-votes.

The meeting, which took place at the company’s headquarters at 1525 Perimeter Parkway, Suite 325, Huntsville, Alabama, was announced in a Form 8-K filed with the Securities and Exchange Commission on Friday, June 13, 2025. The company, identified by its Central Index Key (CIK) number 0000798081, trades on the NASDAQ Market under the ticker symbol LAKE. According to InvestingPro data, while the company maintains strong liquidity with a current ratio of 3.88 and operates with moderate debt levels, it faces near-term challenges with analysts recently revising earnings expectations downward. The stock currently appears undervalued compared to InvestingPro’s Fair Value assessment.Investors seeking deeper insights into LAKE’s financial health and growth prospects can access comprehensive analysis through InvestingPro, which offers 15 additional ProTips and detailed financial metrics in its Pro Research Report, part of its coverage of over 1,400 US stocks.

This summary is based on the information provided in the company’s SEC filing.

In other recent news, Lakeland Industries reported a significant 29% increase in revenue for Q1 2025, reaching $46.7 million. Despite this surge, the company faced a net loss of $3.9 million, contrasting with a net income of $1.7 million in the same period last year. The company’s gross profit margin declined to 33.5% from 44.6%, attributed to higher operational expenses and tariff-related challenges. Furthermore, the company’s adjusted EBITDA saw an 84% decrease from the previous year, totaling $600,000. Analysts noted the impact of purchase accounting on margins and the company’s strategies for tariff mitigation. Lakeland Industries is projecting full-year revenue between $210 million and $220 million, with adjusted EBITDA expected to range from $24 million to $29 million. The company remains focused on its strategic initiatives in the fire protection sector, despite ongoing challenges in Latin America and Canada.

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