Lakeland Industries, Inc. (NASDAQ:LAKE) Q2 2024 Earnings Conference Call September 7, 2023 8:30 AM ET
Company Participants
Charlie Roberson - Chief Executive Officer
Roger Shannon - Chief Financial Officer
Conference Call Participants
Gerry Sweeney - Roth Capital
George Melas - MKH Management
Operator
Good day, and welcome to the Lakeland Industries Fiscal 2024 Second Quarter Financial Results Conference Call. All lines have been placed on a listen-only mode. And the floor will be opened for questions and comments following the presentation.
During today's call, we will make statements relating to our goals and objectives for future operations, financial and business trends, business prospects and management's expectations for future performance that constitute forward-looking statements under federal securities laws. Any such forward-looking statements reflect management's expectations based upon currently available information and are not guarantees of future performance and involve certain risks and uncertainties that are more fully described in our SEC filings.
Our actual results, performance or achievements may differ materially from those expressed in or implied by such forward-looking statements. We undertake no obligation to update or revise any forward-looking statements to reflect events or developments after the date of this call.
During today's call, we will discuss financial measures derived from our financial statements that are not determined in accordance with U.S. GAAP, including adjusted EBITDA and adjusted EBITDA margin. A reconciliation of each of the non-GAAP measures discussed on this call to the most directly comparable GAAP measure is presented in our earnings release.
At this time, I would like to introduce you to your host for this call, Lakeland Industries' Chief Executive Officer, Charlie Roberson. Mr. Roberson, the floor is yours.
Charlie Roberson
Thank you, Holly. Good morning and thank you all for joining us for our second quarter fiscal 2024 earnings call. Please note that we also have an earnings presentation posted on our IR page of our website at www.lakeland.com.
Our second quarter results were very encouraging as we continued to see strong improvements in growth within our strategic product lines and markets. Lakeland delivered net sales of $33.1 million, up 17.3% year-over-year. This growth was driven both organically and by Eagle Technical Products, which contributed $3.4 million in revenue to our results this quarter. Notably, our fire service product category continued to see very significant growth with sales up 202%, compared to last year. This growth highlights the significant momentum like when it's building in our strategic product lines. And our goal to increase penetration in high value markets is producing positive results.