Long Island-Based Lakeland Industries Profits Miss Mark

Summary

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Slumping orders from the Gulf Coast region helped drag Lakeland Industries Inc. profits, which grew but failed to hit analyst targets for the quarter ended Oct. 31.The Ronkonkoma-based manufacturer of industrial clothing posted a year-over-year income increase of $120,000, or 10 percent, which equates to 26 cents per diluted share.

The company's lone analyst, Friedman Billings Ramsey in Arlington, Va., estimated the company's quarterly profit at 28 cents per share for the quarter.Lakeland's revenue rose by slightly more than 1 percent to $22.7 million.

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Long Island-Based Lakeland Industries Profits Miss Mark

Shares (Nasdaq: LAKE) dropped 8...

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