Lakeland Industries, Inc. (NASDAQ:LAKE) Q2 2025 Earnings Conference Call September 5, 2024 12:00 PM ET
Company Participants
Jim Jenkins - President, CEO and Executive Chairman
Roger Shannon - CFO
Conference Call Participants
Gerry Sweeney - ROTH Capital
Matthew Galinko - Maxim Group
Operator
Good day. And welcome to the Lakeland Industries’ Fiscal 2025 Second Quarter Financial Results Conference Call. All lines have been placed on a listen-only mode. And the floor will be open for your 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 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. On this call, we will also discuss financial measures derived from our financial statements that are not determined in accordance with US GAAP, including adjusted EBITDA, excluding FX and adjusted EBITDA, excluding FX 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 President, Chief Executive Officer and Executive Chairman, Jim Jenkins. Mr. Jenkins, the floor is yours.
Jim Jenkins
Thank you, operator. Good morning, everyone. Thank you for joining us today to discuss our fiscal 2025 second quarter results, which ended on July 31, 2024. We appreciate your continued interest in Lakeland Industries. I always want to begin our call by thanking our customers and distributor partners worldwide for trusting us with your lives and safety. Our customers are heroes and we never take that trust for granted. Finally, I want to thank our Lakeland team and members across the company for their continued commitment and enthusiasm as we further delivered on our strategic initiatives this quarter. Lakeland continued to experience significant growth and change during this quarter and I appreciate the hard work from our dedicated teams as we continue to execute our growth strategies. As previously announced, we closed on the LHD acquisition in early July. LHD is a leading provider of firefighter turnout gear, accessories and personal protective equipment, cleaning, repair and maintenance with an annual revenue of approximately $27 million. This strategic move enhances our global fire services offerings and footprint and continues our small, strategic and quick SSQ growth strategy. LHD Group increases Lakeland's ability to serve firefighters in Germany and Australia, two of the largest fire markets in the world, and the Hong Kong region with an expanded range of high quality and rescue gear as well as care and maintenance services. LHD's product range includes structural, wildland and industrial fire and rescue gear, technical rescue equipment and stationware, and it complements Lakeland's existing fire service offerings. LHD Care provides a holistic approach to protecting clothing maintenance, including laundry services and repairs, a software app for tracking the progress of those services and sample production.