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News Breaks
July 3, 2013
13:58 EDTLAKELakeland Industries to take charge related to plant sale
Lakeland Industries disclosed in a regulatory filing that on June 30, the company sold its plant in Qingdao, China to Qingdao Yingzhouhai Textile International Trading Co. Gross proceeds to the company amounted to $1.43M, less Chinese taxes of $150,000 and expenses of sale of $170,000 resulting in net proceeds of $1.11M. In addition to the $300,000 proceeds received directly by the U.S. parent company, the U.S. parent company received liquidating dividends of $2.95M which reflect both the net proceeds received by its subsidiary and a liquidating dividend for the remaining assets not sold in this transaction. The company will take an accounting charge for United States taxes for a significant amount yet to be determined as a result of this sale, but due to its loss carryforwards will pay no cash currently.
News For LAKE From The Last 14 Days
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May 22, 2015
15:13 EDTLAKELakeland Industries short position covered by GeoInvesting
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May 18, 2015
19:12 EDTLAKEOn The Fly: After Hours Movers
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16:05 EDTLAKELakeland Industries sees continued improved operating results in FY16
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16:04 EDTLAKELakeland Industries reports Q4 EPS ex-items 36c, one estimate 23c
Reports Q4 revenue $26.5M, one estimate $25.89M. CEO Christopher Ryan said, "Among our global initiatives, we announced our determination to exit Brazil which has been losing money for three years during which time it had caused material hardships throughout our company. We believe we have found a way to exit this business, enhance our focus on the areas of growth throughout our otherwise expanding global operating footprint, and improve our overall financial performance."

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