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Lakeland Drowns
By Rich Smith (TMFDitty)
June 14, 2006

Motley Fool Hidden Gems "Tiny Gem" designee Lakeland Industries (Nasdaq: LAKE) took a dive last week, falling in the wake of an earnings report that Wall Street deemed all wet.

The safety-first clothier, maker of everything from lab smocks to chemical protection suits, reported that its Q1 earnings declined 15% year over year to $0.29 per share despite a modest 6% rise in sales. Gross margins held firm at 24%, and gross profits grew in line with sales at 6%. However, operating margins declined abruptly, falling from 10% to 8%.....
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