 DECATUR, AL ACCESSWIRE September 9, 2021 Lakeland Industries, Inc. NASDAQ:LAKE the Company or Lakeland, a leading global manufacturer of protective clothing for industry, healthcare and to first responders on the federal, state and local levels, today announced financial results for its fiscal 2022 second quarter ended July 31, 2021. Fiscal 2022 Second Quarter Financial Results Highlights Net sales for 2Q22 of 27.5 million, compared with 2Q21 of 35.0 million and 1Q22 of 34.1 million Traditional industrial demand strengthening COVID-19 related sales of approximately 3.5 million in 2Q22 as compared with 4.1 million in 1Q22 and 14.0 million in 2Q21 driven by demand from Asia Overstocking within U.S. distribution channels and freight-outdelivery logistical challenges presented headwinds for 2Q22 revenue; inventory levels increased amid shipping delays Increase in High Performance Wear, Fire and Glove product lines in 2Q22 over 2Q21 when PPE demand had already shifted to Disposables and Chemical garments for COVID-19 Gross profit for 2Q22 of 12.7 million, compared with 17.3 million in 2Q21 Gross margin as a percentage of net sales in 2Q22 was 46.3, compared to 49.5 in 2Q21 Operating expenses of 8.8 million in 2Q22, up from 7.6 million in 2Q21 Operating profit of 3.9 million in 2Q22, compared with 9.8 million in 2Q21 Net income of 2.6 million or 0.32 per basic share and 0.31 per diluted common share in 2Q22, down from 9.3 million or 1.17 per basic share and 1.16 per diluted common share in 2Q21 Adjusted earnings before interest, taxes, depreciation, and amortization Adjusted EBITDA of 4.7 million in 2Q22, compared with 10.5 million in 2Q21 Capital expenditures for 2Q22 of 0.4 million, down from 0.5 million in 2Q21 Solid current ratio of 7.5:1 at 73121 Cash of 59.8 million at 73121, up by 7.2 million or 14 from beginning of fiscal year No debt at end of second quarter with up to 25 million available under credit facilities 5 million in share repurchases completed in 2Q22 EBITDA and Adjusted EBITDA are non-GAAP financial measures. 