Safety-gear maker Lakeland Industries (NASDAQ:LAKE) said Tuesday that stronger international sales, driven by a near doubling in China and India, helped push second-quarter earnings higher.
The Ronkonkoma, New York-based company posted net income of $572,000, or 11 cents a share, compared with $8,000, or break-even earnings per share, in the same quarter last year.
Revenue for the manufacturer of safety clothes and accessories, such as disposables, lab coats, aprons, and smocks, intended to protect users from chemicals, pesticides, fertilizers, paint and grease, was $24.6 million, up 6.5% from $23 million a year ago.
Sales were driven primarily in international markets, as non-US sales were up 43.5%, or $2.1 million, offset by a $600,000 decline in domestic sales.
“Lakeland continues to deliver strong financial performance driven by the growth of its international operations and streamlining of its global operating structure,” said Lakeland CEO Christopher J. Ryan. “We have been successful in managing our costs while navigating through a volatile pricing and supply chain environment.”
The company, which is seeking expansion in oversees markets, saw sales double in China and India.
In the US, however, higher sales of disposable products related to the oil spill in the Gulf of Mexico only partially offset a still downtrodden economy, causing domestic revenues to slip slightly.