Lakeland Industries Continues To Expect FY25 Revenue In The Range Of $160M-$170M Vs $165.65M Est

FY 2025 Reaffirmed Guidance and Outlook

This reaffirmed guidance is based on our current backlog of orders and current expectations. These metrics constitute forward-looking statements and are based on current expectations. For a discussion of factors that could cause actual results to differ materially from these metrics, see "‘Safe Harbor' Statement Under the Private Securities Litigation Reform Act of 1995" below.

Revenue - We continue to expect FY25 Revenue in the range of $160 million to $170 million. This Revenue expectation includes the recently announced LHD, Jolly Scarpe and Pacific Helmets acquisitions.

Adjusted EBITDA excluding FX- We continue to expect FY25 Adjusted EBITDA, excluding any material negative impact from foreign exchange, to be in the range of $18 million to $21.5 million(1). This Adjusted EBITDA expectation includes the recently announced LHD, Jolly Scarpe and Pacific Helmets acquisitions.

(1) Excluding revenue, the Company does not provide guidance on a GAAP basis as certain items that impact Adjusted EBITDA, such as equity compensation, foreign exchange gains or losses, acquisition expenses and employee separation expenses, which may be significant, are outside the Company's control and/or cannot be reasonably predicted. Please see the "Reconciliation of GAAP Results to Non-GAAP Results" and the related footnotes at the end of this press release for detailed information on calculating non-GAAP measures. See the non-GAAP financial reconciliation tables in this release for a reconciliation of other non-GAAP financial measures.

Mr. Jenkins added, "We remain positive about our ability to grow our business in the second half of the year. As we have previously mentioned, revenue in the fire space can be "lumpy" due to the timing of tenders, but we have visibility to increased shipments in the second half. We expect to be less susceptible to revenue timing swings as we gain critical mass in the fire space. We also remain confident in growing our industrial business and expect growth from our LineDrive relationship and upgrades to our internal sales functions."

"We continue to believe our SSQ acquisition strategy and the investments we are making in our sales strategies position us for growth in revenue and profitability. In the second half of the year, we will continue to drive operational improvements throughout the organization. We are laser-focused on improving productivity and expect more gross profit to be generated. In fact, we expect the increase in productivity to significantly help to offset the setbacks caused by the timing slippage of Q2 orders," concluded Mr. Jenkins.