Key Developments For Lakeland Industries Inc
Lakeland Industries Inc (LAKE.O) (Consolidated Issue listed on NASDAQ Global Market)
Lakeland Industries, Inc. Receives Contract For Firefighter Garments In Brazil
Lakeland Industries, Inc. announced that, through its Brazilian subsidiary Qualytextil, the Company has received a contract worth approximately $750,000 from Brasilia Firefighters, for customized protective fire coats. Brasilia Firefighters is a fire department located in the capital of Brazil.
Lakeland Industries, Inc. Comments On FY 2010 Outlook
Lakeland Industries, Inc. announced that for fiscal 2010, it expects results to show top and bottom line improvement of over 10%.
Lakeland Industries, Inc.'s Qualytextil Secures Contract
Lakeland Industries, Inc. announced that, through its recently acquired Brazilian subsidiary Qualytextil, the Company has received a contract worth approximately $700,000 from Neo Energy Group. This award builds upon existing business with Lakeland and is representative of the high-caliber customers doing business with Qualytextil. Neo Energy will be using Lakeland garments for fire protection and electric arc exposure.
Lakeland Industries, Inc. Receives Two Brazilian Contracts For $1.2 Million
Lakeland Industries, Inc. announced that the Company, through its recently acquired Brazilian subsidiary Qualytextil, has received a contract worth approximately $1 million from Companhia Pulista de Forca e Luz, a major electrical utility in the state of Sao Paulo, for customized protective clothing. In addition, Lakeland received a contract from Petrobras, Brazil's oil company, for approximately $0.2 million as part of its ongoing relationship which, so far this year, yielded approximately $1.6 million in sales. These awards build upon existing business with Lakeland and are representative of the high-caliber customers which came with Qualytextil. The Company also expects to sign another similar contract within the next 45 days.
Lakeland Industries, Inc. Completes Acquisition Of Qualytextil S.A.
Lakeland Industries, Inc. announced that it has completed the acquisition of Brazilian protective apparel supplier Qualytextil S.A. Under the terms of the transaction, Lakeland paid approximately $13.3 million at closing. Terms also include an earnout based on Qualytextil meeting specific increased earnings before interest, taxes, depreciation and amortization (EBITDA) targets in 2010. The acquisition was funded by existing cash and borrowings from a commercial line of credit, and is expected to be accretive to Lakeland's earnings per share.
