LAKELAND INDUSTRIES INC Segments Disclosure
13. SEGMENT REPORTING
Domestic and international sales from continuing operations are as follows in millions of dollars:
|
|
2026 |
|
|
2025 |
|
||
Domestic |
|
$ |
81.6 |
|
|
$ |
60.4 |
|
International |
|
|
111.0 |
|
|
|
106.8 |
|
Total |
|
$ |
192.6 |
|
|
$ |
167.2 |
|
The Company is organized into seven geographical operating segments that are based on management responsibilities: U.S. Operations (including Corporate), Europe, Mexico, Asia, Canada, Latin America and Other Foreign.
Gross profit and Operating profit are the measures used by the chief operating decision maker, identified as our President and , to evaluate segment performance and identify opportunities when allocating resources.
The accounting principles applied at the reportable segment level in determining the segment measure of profit or loss are the same as those applied at the consolidated financial statement level. Sales and transfers between operating segments are accounted for at market-based transaction prices and are eliminated in consolidation.
Our U.S. operations include a facility in Alabama (primarily the distribution to customers of the bulk of our products and the light manufacturing of our chemical, wovens, reflective, and fire products) and facilities in Arizona, California and Iowa (fire services). The Company also maintains one manufacturing facility in China (primarily disposable and chemical suit production), a manufacturing facility in Mexico (primarily disposable, reflective, fire and chemical suit production), a manufacturing facility in Vietnam (primarily disposable production), a manufacturing facility in Argentina (primarily wovens production), a manufacturing facility in Romania (boots), a manufacturing facility in New Zealand (helmets) and two small manufacturing facilities in India (primarily disposable and wovens production). Our China and Vietnam facilities produce a significant portion of the Company’s products. We evaluate the performance of these entities based on gross profit, which is defined as net sales less cost of goods sold, and operating income (loss), which is defined as income before income taxes, interest expense and other income and expenses. We have sales forces in the U.S., Canada, Mexico, Europe, Latin America, India, Russia, Kazakhstan, Australia, New Zealand and China, which sell and distribute products shipped from the U.S., Mexico, China, Vietnam or India.
The table below represents information about reportable segments for the years ended January 31, 2026 and 2025 noted therein (amounts may not foot due to rounding):
|
|
Year Ended January 31, |
|
|||||
|
|
2026 |
|
|
2025 |
|
||
|
|
(in millions of dollars) |
|
|||||
Net Sales |
|
|
|
|
|
|
||
U.S. Operations |
|
$ |
89.1 |
|
|
$ |
66.7 |
|
Europe |
|
|
56.5 |
|
|
|
42.9 |
|
Mexico |
|
|
7.5 |
|
|
|
7.6 |
|
Asia |
|
|
50.2 |
|
|
|
53.8 |
|
Canada |
|
|
9.1 |
|
|
|
10.3 |
|
Latin America |
|
|
16.8 |
|
|
|
21.3 |
|
Other foreign |
|
|
18.3 |
|
|
|
18.3 |
|
Less intersegment sales |
|
|
(54.9 |
) |
|
|
(53.7 |
) |
Consolidated sales |
|
$ |
192.6 |
|
|
$ |
167.2 |
|
External Sales |
|
|
|
|
|
|
||
U.S. Operations |
|
$ |
81.6 |
|
|
$ |
60.4 |
|
Europe |
|
|
54.2 |
|
|
|
42.1 |
|
Mexico |
|
|
4.7 |
|
|
|
5.0 |
|
Asia |
|
|
14.5 |
|
|
|
13.9 |
|
Canada |
|
|
8.9 |
|
|
|
10.3 |
|
Latin America |
|
|
16.4 |
|
|
|
21.2 |
|
Other foreign |
|
|
12.3 |
|
|
|
14.3 |
|
Consolidated external sales |
|
$ |
192.6 |
|
|
$ |
167.2 |
|
Intersegment Sales |
|
|
|
|
|
|
||
U.S. Operations |
|
$ |
7.5 |
|
|
$ |
6.3 |
|
Europe |
|
|
2.2 |
|
|
|
0.8 |
|
Mexico |
|
|
2.8 |
|
|
|
2.6 |
|
Asia |
|
|
35.7 |
|
|
|
39.9 |
|
Canada |
|
|
0.2 |
|
|
|
— |
|
Latin America |
|
|
0.5 |
|
|
|
0.1 |
|
Other foreign |
|
|
6.0 |
|
|
|
4.0 |
|
Consolidated intersegment sales |
|
$ |
54.9 |
|
|
$ |
53.7 |
|
|
|
Year Ended January 31, |
|
|||||
|
|
2026 |
|
|
2025 |
|
||
|
|
(in millions of dollars) |
|
|||||
Cost of Goods Sold: |
|
|
|
|
|
|
||
U.S. Operations |
|
$ |
60.9 |
|
|
$ |
41.6 |
|
Europe |
|
|
42.5 |
|
|
|
32.5 |
|
Mexico |
|
|
8.0 |
|
|
|
7.1 |
|
Asia |
|
|
40.4 |
|
|
|
41.7 |
|
Canada |
|
|
6.3 |
|
|
|
6.2 |
|
Latin America |
|
|
11.5 |
|
|
|
11.4 |
|
Other foreign |
|
|
12.5 |
|
|
|
10.9 |
|
Less intersegment cost of goods sold |
|
|
(52.8 |
) |
|
|
(52.9 |
) |
Consolidated cost of goods sold |
|
$ |
129.3 |
|
|
$ |
98.5 |
|
Gross Profit (Loss); |
|
|
|
|
|
|
||
U.S. Operations |
|
$ |
28.2 |
|
|
$ |
25.0 |
|
Europe |
|
|
14.0 |
|
|
|
10.4 |
|
Mexico |
|
|
(0.5 |
) |
|
|
0.6 |
|
Asia |
|
|
9.8 |
|
|
|
12.1 |
|
Canada |
|
|
2.8 |
|
|
|
4.1 |
|
Latin America |
|
|
5.3 |
|
|
|
9.8 |
|
Other foreign |
|
|
5.8 |
|
|
|
7.4 |
|
Less intersegment loss |
|
|
(2.1 |
) |
|
|
(0.7 |
) |
Consolidated gross profit |
|
$ |
63.3 |
|
|
$ |
68.7 |
|
Operating Expenses(1): |
|
|
|
|
|
|
||
U.S. Operations |
|
$ |
45.2 |
|
|
$ |
33.4 |
|
Europe |
|
|
15.1 |
|
|
|
19.5 |
|
Mexico |
|
|
(0.7 |
) |
|
|
2.1 |
|
Asia |
|
|
6.3 |
|
|
|
5.6 |
|
Canada |
|
|
2.5 |
|
|
|
4.2 |
|
Latin America |
|
|
5.7 |
|
|
|
5.4 |
|
Other foreign |
|
|
6.1 |
|
|
|
9.1 |
|
Less intersegment loss |
|
|
(1.4 |
) |
|
|
(1.4 |
) |
Consolidated operating expenses |
|
$ |
78.8 |
|
|
$ |
77.9 |
|
Operating (Loss) Profit: |
|
|
|
|
|
|
||
U.S. Operations |
|
$ |
(17.0 |
) |
|
$ |
(8.0 |
) |
Europe |
|
|
(1.1 |
) |
|
|
(9.6 |
) |
Mexico |
|
|
0.2 |
|
|
|
(1.5 |
) |
Asia |
|
|
3.5 |
|
|
|
6.5 |
|
Canada |
|
|
0.3 |
|
|
|
(0.2 |
) |
Latin America |
|
|
(0.4 |
) |
|
|
4.5 |
|
Other foreign |
|
|
(0.3 |
) |
|
|
(1.7 |
) |
Less intersegment loss |
|
|
(0.7 |
) |
|
|
(0.7 |
) |
Consolidated operating loss |
|
$ |
(15.5 |
) |
|
$ |
(9.3 |
) |
|
|
As of January 31, |
|
|||||
|
|
2026 |
|
|
2025 |
|
||
|
|
(in millions of dollars) |
|
|||||
Total Assets: |
|
|
|
|
|
|
||
U.S. Operations |
|
$ |
170.4 |
|
|
$ |
167.4 |
|
Europe |
|
|
61.1 |
|
|
|
60.3 |
|
Mexico |
|
|
11.7 |
|
|
|
13.7 |
|
Asia |
|
|
48.5 |
|
|
|
48.0 |
|
Canada |
|
|
6.8 |
|
|
|
6.4 |
|
Latin America |
|
|
23.6 |
|
|
|
21.7 |
|
Other foreign |
|
|
19.8 |
|
|
|
18.3 |
|
Less intersegment |
|
|
(132.0 |
) |
|
|
(123.3 |
) |
Consolidated assets |
|
$ |
209.9 |
|
|
$ |
212.5 |
|
Total Assets Less Intersegment: |
|
|
|
|
|
|
||
U.S. Operations |
|
$ |
90.8 |
|
|
$ |
85.6 |
|
Europe |
|
|
50.3 |
|
|
|
55.3 |
|
Mexico |
|
|
8.2 |
|
|
|
11.2 |
|
Asia |
|
|
20.8 |
|
|
|
21.3 |
|
Canada |
|
|
2.9 |
|
|
|
4.6 |
|
Latin America |
|
|
19.3 |
|
|
|
18.0 |
|
Other foreign |
|
|
17.6 |
|
|
|
16.5 |
|
Consolidated assets |
|
$ |
209.9 |
|
|
$ |
212.5 |
|
Total Goodwill and Intangible Assets |
|
|
|
|
|
|
||
U.S. Operations |
|
$ |
25.3 |
|
|
$ |
17.1 |
|
Europe |
|
|
19.9 |
|
|
|
22.7 |
|
Other foreign |
|
|
1.8 |
|
|
|
1.9 |
|
Consolidated goodwill and intangible assets |
|
$ |
47.0 |
|
|
$ |
41.7 |
|
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2026 | Apr 16, 2026 | Showing above |
| 2025 | Apr 17, 2025 | |
| 2024 | Apr 11, 2024 | |
| 2023 | Apr 18, 2023 | |
| 2022 | Apr 21, 2022 | |
| 2021 | Apr 16, 2021 | |
| 2020 | Apr 15, 2020 | |
| 2019 | Apr 16, 2019 | |
| 2018 | Apr 16, 2018 | |
| 2017 | Apr 26, 2017 | |
| 2016 | Apr 21, 2016 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.