The following is a summary of the Lakeland Industries, Inc. (LAKE) Q4 2023 Earnings Call Transcript:

Financial Performance:

• Lakeland reported Q4 net sales increase by 7.7% to $31.2 million compared to $29 million last year.

• Despite a 44% decrease in the Asia business, the company delivered robust full year revenue growth of $11.8 million, or 10.5%.

• The FY 2024 net income increased by $3.6 million to $5.4 million, corresponding to net income per diluted share of $0.72 up from $0.24 in the previous year.

• Adjusted EBITDA excluding foreign exchange loss increased by over $6 million to $15.7 million for FY 2024.

Business Progress:

• Lakeland closed the acquisition of Pacific Helmets and Jolly Scarpe boots, and announced an agreement to acquire LHD Group of Germany's Fire Service business.

• The strategic product lines are promoting profitable growth through varied efforts from product development to operations optimization.

• In the next fiscal year, the company plans to recruit a new Senior Vice President of Sales and expand the integration team for increased operational efficiency.

• Lakeland is slowly incorporating service aspects to its core business starting with the recent LHD acquisition.

• The company commenced offering a 'head-to-toe' fire product range for a competitive advantage.

• Despite the challenging foreign exchange impacts, the company plans for continued investment in the Latin American market.

More details: Lakeland Industries IR

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.