Lakeland Industries Inc (Nasdaq: LAKE), the manufacturer of industrial and medical protective apparel, has reported record sales for its third quarter ended October 31, 2000.

Lakeland's net income for this period decreased to $150,000 from $510,000 as compared to the third quarter of 2000, down 70 per cent.

Net income per basic and diluted share were reported at $.06 for this third quarter, down 68 per cent from $.19 for the third quarter ended October 31, 1999. Net sales for the third quarter of fiscal 2001 increased 15.2 per cent to $15.76m, compared with fiscal 2000 third quarter net sales of $13.68m.

Lakeland's net income for the nine months ended October 31, 2000, increased to $1,187,274 from $1,099,412 for the nine months of 2000, up 8 per cent.

Net income per basic and diluted share were reported as $0.45 for the nine months ended October 31, 2000, up 9.75 per cent from $0.41 for the nine months of 2000. Year-to-date net sales have increased 30 per cent from $43.1m in 2000 to $56.0m in 2001.

The company believes that the adverse effect on third quarter profits was due to lower Tyvek disposable clothing market prices and by the moving of one division's entire manufacturing operations in preparation for merging it with another existing company production facility.