 - Annual Revenues Increase for Fourth Consecutive Year as Fiscal 2021 Sales Reach Record 159 Million, Up 47 from 2020, Primarily from COVID 19-Related Demand - Net Income for Fiscal 2021 Increases 970 Driven by Operating Leverage - Revenues from International Markets Continue to Outpace Domestic Growth - Performance Bolstered by Sustainable Improvements from: Technology Implementation Increased Market Penetration Inventory and Manufacturing Production Management Continuing SKU Rationalization - Cash Jumps 38 Million in Fiscal 2021, Ending Year at 52.6 Million with No Debt DECATUR, AL ACCESSWIRE April 15, 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 2021 fourth quarter and full year ended January 31, 2021. Fiscal 2021 Fourth Quarter Financial Results Highlights Net sales for 4Q21 of 36.9 million, up 31 as compared with 4Q20 of 28.2 million Gross profit for 4Q21 of 18.1 million, up 71 as compared with 10.6 million in 4Q20 Gross margin as a percentage of net sales in 4Q21 was 48.9, compared to 37.7 in 4Q20 Operating expenses of 8.8 million in 4Q21, down from 8.9 million in 4Q20 Operating profit of 9.3 million in 4Q21, up 447 from 1.7 million in 4Q20 Net income of 7.9 million or 0.99 per basic common share in 4Q21, up from 1.2 million or 0.15 per basic common share in 4Q20 Earnings before interest, taxes, depreciation, and amortization EBITDA of 10.3 million in 4Q21, up 348 from 2.3 million in 4Q20 Capital expenditures for 4Q21 of 0.4 million, up from 0.3 million in 4Q20 Fiscal 2021 Full Year Financial Results Highlights Net sales for fiscal 2021 of 159.0 million, up from 107.8 million in fiscal 2020 Fiscal 2021 sales include an estimated 48 million to 56 million 30 to 35 of demand related to COVID 19, up from 1 million in fiscal 2020 Gross profit for fiscal 2021 of 79.3 million, as compared with 37.9 million in fiscal 2020 Gross margin as a percentage of net sales in fiscal 2021 was 49.8, up from 35.2 in fiscal 2020 Operating expenses of 35.4 million in fiscal 2021, up from 32.0 million in fiscal 2020 Operating profit of 43.9 million in fiscal 2021, up from 5.9 million in fiscal 2020 Net income for fiscal 2021 of 35.1 million or 4.404.31 per basicdiluted share compares with fiscal 2020 net income of 3.3 million or 0.41 per basicdiluted share Adjusted EBITDA of 47.5 million for fiscal 2021, up from 7.1 million in fiscal 2020 Capital expenditures for fiscal 2021 were 1.7 million, up from 1.0 million in fiscal 2020 Cash of 52.6 million at 13121, up from 14.6 million at beginning of the fiscal year Current ratio improves to 8.0:1 at 13121, up 26 from 13120 No debt at 13121, down from 1.2 million at beginning of fiscal year Stockholders equity at the end of fiscal 2021 increased by 37.8 million or 44 to 122.9 million from 85.1 million at the beginning of fiscal year Operational Highlights Sustainable Improvement Initiatives Investments in digital transformation: ERP, CRM and IT systems Vietnam and India manufacturing capacity increased New product development targeting higher margin niche markets Improved working capital and cash management Leadership Team Strengthened Christopher J. 