Lakeland Industries Inc. (NASDAQ:LAKE) Q2 2021 Earnings Conference Call - Final Transcript

Sep 09, 2020 • 04:30 pm ET


Lakeland Industries Inc. (NASDAQ:LAKE) Q2 2021 Earnings Conference Call - Final Transcript


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Good day, ladies and gentlemen, and welcome to the Lakeland Industries Incorporated Second Quarter Fiscal Year 2021 Financials and Conduct Conference Call. All lines have been placed on a listen-only mode and the floor will be open for questions and comments following the presentation.

[Operator Instructions] Safe Harbor statements under the Private Securities Litigation Reform Act of 1995, forward-looking statements involve risks, uncertainties and assumptions as described from time to time in press releases and Forms 8-K, registration statements, quarterly and annual reports and other reports and filings filed with the Securities and Exchange Commission or made by management.

All statements, other than statements of historical facts, which addresses Lakeland's expectations of sources or uses for capital or which express the Company's expectation for the future with respect to financial performance or operating strategies can be identified as forward-looking statements.

As a result, there can be no assurance that Lakeland's future results will not be materially different from those described herein as believed, projected, planned, intended, anticipated, estimated or expected, or in other words which reflect the current view of the Company with respect to future events. We caution readers that these forward-looking statements speak only as of the date hereof. The Company hereby expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any such statements to reflect any change in the Company's expectations or any change in events, conditions or circumstances on which such statement is based.

Charles D. Roberson

Okay. This is Charlie Roberson. I'm CEO of Lakeland industries. Good afternoon to you all and thank you for joining our fiscal 2021 second quarter financial results conference call. I'm joined here today by Lakeland's Chief Financial Officer, Allen Dillard.

Over the past two quarters of hosting Lakeland industries earnings conference calls, I've talked about our company's efforts to advance our leadership position within the global personal protective equipment or PPE market. The outlook -- the outbreak of the COVID-19 pandemic presents an unprecedented challenge to all companies within the PPE marketplace. Many struggle to deliver products to service both pandemic and regular customer demand. Lakeland has not.

We believe that our results for the first quarter of fiscal 2021 validated our commitment to attaining this leader -- leadership position within the industry as we leveraged our diverse manufacturing facilities and resilient supply chain with our new centralized data driven planning systems to deliver unprecedented financial performance, while increasing capacity to meet both pandemic and industrial demand for our products.

As we report our second quarter fiscal year '21 financial results, which again benefit from our COVID response efforts. I'm pleased to announce that we just exceeded the performance from our record setting first quarter. In turn, I believe that we have set the new standard of excellence for PPE manufacturers anywhere in the world. Measured by key indicators, the second quarter of fiscal year '21 brought us to new heights and most importantly, we now have greater visibility and insight into our business that we believe will