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Lakeland Industries, Inc. (LAKE) Q1 2020 Results - Earning Call Transcript

Jun. 10, 2019 6:51 PM ETLakeland Industries, Inc. (LAKE)
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Lakeland Industries, Inc. (NASDAQ:LAKE) Q1 2020 Earnings Conference Call June 10, 2019 4:30 PM ET

Company Participants

Christopher Ryan - President

Charles Roberson - Chief Operating Officer

Conference Call Participants

Andrew Mali - Roth Capital

Mark Rosenkranz - Craig-Hallum

Pete Muckerman - Raymond James


Good day, ladies and gentlemen, and welcome to the Lakeland Industries Report on Fiscal 2020 First Quarter Financial Results and Conference Call. All lines have been placed on a listen-only mode and the floor will be opened for your questions and comments following the presentation. [Operator Instructions]

At this time, it's my pleasure to turn the floor over to Mr. Christopher J. Ryan, President. Sir the floor is yours.

Christopher Ryan

Thank you, and good afternoon to you all and thank you for joining us on our fiscal 2020 first quarter financial results conference call. I am joined here today with Lakeland's Chief Operating Officer, Charles Roberson. We are first going to discuss the status of operations on our financial results. Then the call will be opened up, so that we may respond to your questions.

Now onto the formal remarks. Our first quarter fiscal 2020 results show meaningful progress from the fourth quarter of last year, while setting the stage for important business decisions and continued execution toward achieving our growth objectives.

Most notable for quarterly performance sequentially, we did deliver an improvement in gross margin, a reduction in operating expenses, lower operating and net losses and a return to adjusted EBITDA profitability. The company continues to work toward the completion of the enterprise resource planning solution, or ERP restructuring, and business development on a global scale, to support our ERP installation, which largely commenced last year.

With the sequential performance measures providing perspective on the headway we have been making, we believe we are

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