Lakeland Industries (LAKE) 10-Q 10 Jun 19 2019 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Apr. 30, 2019	Jun. 07, 2019
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Apr. 30, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q1
Entity Registrant Name	LAKELAND INDUSTRIES INC
Entity Central Index Key	0000798081
Current Fiscal Year End Date	--01-31
Entity Filer Category	Accelerated Filer
Is Entity's Reporting Status Current?	Yes
Entity Emerging Growth Company	false
Entity Small Business	true
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		8,013,840

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2019	Apr. 30, 2018
Income Statement [Abstract]
Net sales	$ 24,684	$ 24,344
Cost of goods sold	17,130	14,840
Gross profit	7,554	9,504
Operating expenses	7,869	7,088
Operating profit (loss)	(315)	2,416
Other income (expense), net	(27)	(1)
Interest expense	(34)	(31)
Income (loss) before taxes	(376)	2,384
Income tax expense	89	517
Net income (loss)	$ (465)	$ 1,867
Net income (loss) per common share:
Basic	$ (0.06)	$ 0.23
Diluted	$ (0.06)	$ 0.23
Weighted average common shares outstanding:
Basic	8,013,840	8,116,199
Diluted	8,013,840	8,160,380

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2019	Apr. 30, 2018
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ (465)	$ 1,867
Other comprehensive income (loss):
Foreign currency translation adjustments	(69)	(203)
Comprehensive income	$ (534)	$ 1,664

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Apr. 30, 2019	Jan. 31, 2019
Current assets
Cash and cash equivalents	$ 14,282	$ 12,831
Accounts receivable, net of allowance for doubtful accounts of $539 and $434 at April 30, 2019 and January 31, 2019, respectively	15,167	16,477
Inventories	46,761	42,365
Prepaid VAT tax	1,351	1,478
Other current assets	2,558	2,319
Total current assets	80,119	75,470
Property and equipment, net	10,596	10,781
Operating leases right-of-use assets	2,234	0
Deferred income tax	7,425	7,267
Prepaid VAT and other taxes	176	176
Other assets	144	158
Goodwill	871	871
Total assets	101,565	94,723
Current liabilities
Accounts payable	10,440	6,214
Accrued compensation and benefits	1,655	1,137
Other accrued expenses	3,061	2,825
Current maturity of long-term debt	158	158
Current portion of operating lease liabilities	676	0
Total current liabilities	15,990	10,334
Long-term portion of debt	1,121	1,161
Long-term portion of operating lease liabilities	1,559	0
Total noncurrent liabilities	2,680	1,161
Total liabilities	18,670	11,495
Commitments and contingencies
Stockholders' equity
Preferred stock, $0.01 par; authorized 1,500,000 shares (none issued)	0	0
Common stock, $0.01 par; authorized 20,000,000 shares Issued 8,475,929 shares; outstanding 8,013,840 shares at April 30, 2019 and January 31, 2019, respectively	85	85
Treasury stock, at cost; 462,089 shares	(4,517)	(4,517)
Additional paid-in capital	75,813	75,612
Retained earnings	13,835	14,300
Accumulated other comprehensive loss	(2,321)	(2,252)
Total stockholders' equity	82,895	83,228
Total liabilities and stockholders' equity	$ 101,565	$ 94,723

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Apr. 30, 2019	Jan. 31, 2019
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 539	$ 434
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	1,500,000	1,500,000
Preferred stock, shares issued	0	0
Common stock, par value	$ .01	$ 0.01
Common stock, shares authorized	10,000,000	10,000,000
Common stock, shares issued	8,475,929	8,475,929
Common stock, shares outstanding	8,013,840	8,013,840
Treasury stock, shares	462,089	462,089

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Common Stock [Member]	Treasury Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Loss [Member]	Total
Beginning balance, shares at Jan. 31, 2018	8,472,640	(356,441)
Beginning balance, amount at Jan. 31, 2018	$ 85	$ (3,352)	$ 74,917	$ 12,841	$ (1,651)	$ 82,840
Net income				1,867		1,867
Other comprehensive loss					(203)	(203)
Restricted stock plan			121			121
Ending balance, shares at Apr. 30, 2018	8,472,640	(356,441)
Ending balance, amount at Apr. 30, 2018	$ 85	$ (3,352)	75,038	14,708	(1,854)	84,625
Beginning balance, shares at Jan. 31, 2019	8,475,929	(462,089)
Beginning balance, amount at Jan. 31, 2019	$ 85	$ (4,517)	75,612	14,300	(2,252)	83,228
Net income				(465)		(465)
Other comprehensive loss					(69)	(69)
Restricted stock plan			201			201
Ending balance, shares at Apr. 30, 2019	8,475,929	(462,089)
Ending balance, amount at Apr. 30, 2019	$ 85	$ (4,517)	$ 75,813	$ 13,835	$ (2,321)	$ 82,895

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2019	Apr. 30, 2018
Cash flows from operating activities:
Net income (loss)	$ (465)	$ 1,867
Adjustments to reconcile net income to net cash provided by operating activities
Provision for (recovery of) doubtful accounts	105	(40)
Deferred income taxes	(158)	188
Depreciation and amortization	383	187
Stock based and restricted stock compensation	201	119
Loss on disposal of property and equipment	0	5
Non-cash operating lease expense	251	0
(Increase) decrease in operating assets
Accounts receivable	1,144	(499)
Inventories	(4,414)	(1,580)
Prepaid VAT tax	127	216
Other current assets	(247)	(699)
Increase (decrease) in operating liabilities
Accounts payable	4,242	1,086
Accrued expenses and other liabilities	596	31
Operating lease liabilities	(251)	0
Net cash provided by (used in) operating activities	1,514	881
Cash flows from investing activities:
Purchases of property and equipment	(168)	(272)
Cash flows from financing activities:
Loan repayments, short-term	0	(61)
Loan borrowings, short-term	0	207
Loan repayments, long-term	(40)	(39)
UK borrowings (repayments) under line of credit facility, net	156	(179)
Net cash provided by (used in) financing activities	116	(72)
Effect of exchange rate changes on cash and cash equivalents	(11)	(40)
Net increase (decrease) in cash and cash equivalents	1,451	497
Cash and cash equivalents at beginning of period	12,831	15,788
Cash and cash equivalents at end of period	14,282	16,285
Supplemental disclosure of cash flow information:
Cash paid for interest	34	31
Cash paid for taxes	276	303
Noncash investing and financing activities
Leased assets obtained in exchange for operating lease liabilities	$ 2,486	$ 0

Business

Business	3 Months Ended
	Apr. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Business	Lakeland Industries, Inc. and Subsidiaries (“Lakeland,” the “Company,” “we,” “our” or “us”), a Delaware corporation organized in April 1986, manufactures and sells a comprehensive line of safety garments and accessories for the industrial protective clothing market.

Basis of Presentation

Basis of Presentation	3 Months Ended
	Apr. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	The unaudited condensed consolidated financial statements included herein have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission, and reflect all adjustments (consisting of only normal and recurring adjustments) which are, in the opinion of management, necessary to present fairly the unaudited condensed consolidated financial information required herein. Certain information and note disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”) have been condensed or omitted pursuant to such rules and regulations. While we believe that the disclosures are adequate to make the information presented not misleading, it is suggested that these unaudited condensed consolidated financial statements be read in conjunction with the consolidated financial statements and the notes thereto included in our Annual Report on Form 10-K filed with the Securities and Exchange Commission for the fiscal year ended January 31, 2019. The results of operations for the three month period ended April 30, 2019 are not necessarily indicative of the results to be expected for the full year. In this Form 10-Q, (a) “FY means fiscal year; thus for example, FY20 refers to the fiscal year ending January 31, 2020, (b) “Q” refers to quarter; thus, for example, Q1 FY20 refers to the first quarter of the fiscal year ending January 31, 2020, (c) “Balance Sheet” refers to the unaudited condensed consolidated balance sheet and (d) “Statement of Operations” refers to unaudited condensed consolidated statement of operations.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Apr. 30, 2019
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Principles of Consolidation The accompanying unaudited condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All significant intercompany accounts and transactions have been eliminated. Use of Estimates and Assumptions The preparation of unaudited condensed consolidated financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the balance sheet date, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. It is reasonably possible that events could occur during the upcoming year that could change such estimates. Accounts Receivable, Net . Inventories Inventories include freight-in, materials, labor and overhead costs and are stated at the lower of cost (on a first-in, first-out basis) or net realized value. Impairment of Long-Lived Assets The Company evaluates the carrying value of long-lived assets to be held and used when events or changes in circumstances indicate the carrying value may not be recoverable. The Company measures any potential impairment on a projected undiscounted cash flow method. Estimating future cash flows requires the Company’s management to make projections that can differ materially from actual results. The carrying value of a long-lived asset is considered impaired when the total projected undiscounted cash flows from the asset is less than its carrying value. In that event, a loss is recognized based on the amount by which the carrying value exceeds the fair value of the long-lived asset. Revenue Recognition Substantially all the Company’s revenue is derived from product sales, which consist of sales of the Company’s personal protective wear products to distributors. The Company considers purchase orders to be a contract with a customer. Contracts with customers are considered to be short-term when the time between order confirmation and satisfaction of the performance obligations is equal to or less than one year, and virtually all of the Company’s contracts are short-term. The Company recognizes revenue for the transfer of promised goods to customers in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those goods. The Company typically satisfies its performance obligations in contracts with customers upon shipment of the goods. Generally, payment is due from customers within 30 to 90 days of the invoice date, and the contracts do not have significant financing components. The Company elected to account for shipping and handling activities as a fulfillment cost rather than a separate performance obligation. Shipping and handling costs associated with outbound freight are included in operating expenses, and for the month ended April 30, 2019 and 2018, aggregated approximately $0.8 million and $0.6 million, respectively.Taxes collected from customers relating to product sales and remitted to governmental authorities are excluded from revenue. The transaction price includes estimates of variable consideration, related to rebates, allowances, and discounts that are reductions in revenue. All estimates are based on the Company's historical experience, anticipated performance, and the Company's best judgment at the time the estimate is made. Estimates for variable consideration are reassessed each reporting period and are included in the transaction price to the extent it is probable that a significant reversal of cumulative revenue recognized will not occur upon resolution of uncertainty associated with the variable consideration. All the Company’s contracts have a single performance obligation satisfied at a point in time and the transaction price is stated in the contract, usually as quantity times price per unit. The Company has seven revenue generating reportable geographic segments under ASC Topic 280 “Segment Reporting” and derives its sales primarily from its limited use/disposable protective clothing and secondarily from its sales of reflective clothing, high-end chemical protective suits, firefighting and heat protective apparel, reusable woven garments and gloves and arm guards. The Company believes disaggregation of revenue by geographic region best depicts the nature, amount, timing, and uncertainty of its revenue and cash flows (see table below). Net sales by geographic region and by product line are included below: Three Months Ended April 30, (in millions of dollars) 2019 2018 External Sales by region: USA $ 12.87 $ 12.35 Other foreign 0.78 0.84 Europe (UK) 2.39 2.57 Mexico 0.60 1.11 Asia 3.83 3.95 Canada 2.49 2.20 Latin America 1.72 1.32 Consolidated external sales $ 24.68 $ 24.34 Three Months Ended April 30, (in millions of dollars) 2019 2018 External Sales by product lines: Disposables $ 12.36 $ 13.08 Chemical 5.06 4.43 Fire 1.40 1.47 Gloves 0.75 0.79 Hi-Vis 2.12 1.72 Wovens 2.99 2.85 Consolidated external sales $ 24.68 $ 24.34 Income Taxes The Company is required to estimate its income taxes in each of the jurisdictions in which it operates as part of preparing the unaudited condensed consolidated financial statements. This involves estimating the actual current tax in addition to assessing temporary differences resulting from differing treatments for tax and financial accounting purposes. These differences, together with net operating loss carryforwards and tax credits, are recorded as deferred tax assets or liabilities on the Company’s unaudited condensed consolidated balance sheet. A judgment must then be made of the likelihood that any deferred tax assets will be recovered from future taxable income. A valuation allowance may be required to reduce deferred tax assets to the amount that is more likely than not to be realized. In the event the Company determines that it may not be able to realize all or part of its deferred tax asset in the future, or that new estimates indicate that a previously recorded valuation allowance is no longer required, an adjustment to the deferred tax asset is charged or credited to income in the period of such determination. The Company recognizes tax positions that meet a “more likely than not” minimum recognition threshold. If necessary, the Company recognizes interest and penalties associated with tax matters as part of the income tax provision and would include accrued interest and penalties with the related tax liability in the unaudited condensed consolidated balance sheets. The Company does not have any uncertain tax positions at April 30, 2019 or January 31, 2019. Foreign Operations and Foreign Currency Translation The Company maintains manufacturing operations in Mexico, India, Argentina, Vietnam and the People’s Republic of China and can access independent contractors in China, Vietnam, Argentina and Mexico. It also maintains sales and distribution entities located in India, Canada, the U.K., Chile, China, Argentina, Russia, Kazakhstan, Uruguay and Mexico. The Company is vulnerable to currency risks in these countries. The functional currency for the United Kingdom subsidiary is the Euro; the trading company in China, the RMB; the Russian operation, the Russian Ruble, and the Kazakhstan operation the Kazakhstan Tenge. All other operations have the US dollar as its functional currency. Pursuant to US GAAP, assets and liabilities of the Company’s foreign operations with functional currencies, other than the US dollar, are translated at the exchange rate in effect at the balance sheet date, while revenues and expenses are translated at average rates prevailing during the periods. Translation adjustments are reported in accumulated other comprehensive loss, a separate component of stockholders’ equity. Cash flows are also translated at average translation rates for the periods, therefore, amounts reported on the consolidated statement of cash flows will not necessarily agree with changes in the corresponding balances on the consolidated balance sheet. Transaction gains and losses that arise from exchange rate fluctuations on transactions denominated in a currency other than the functional currency are included in the results of operations as incurred. Foreign currency transaction (loss) gain included in net income (loss) for the three months ended April 30, 2019 and 2018, were approximately $0.1 million and $(0.2) million, respectively. Fair Value of Financial Instruments US GAAP defines fair value, provides guidance for measuring fair value and requires certain disclosures utilizing a fair value hierarchy which is categorized into three levels based on the inputs to the valuation techniques used to measure fair value. The following is a brief description of those three levels: Level 1: Observable inputs such as quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2: Inputs other than quoted prices that are observable for the asset or liability, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active. Level 3: Unobservable inputs that reflect management’s own assumptions. The financial instruments of the Company classified as current assets or liabilities, including cash and cash equivalents, accounts receivable, short-term borrowings, borrowings under revolving credit facility, accounts payable and accrued expenses, are recorded at carrying value, which approximates fair value based on the short-term nature of these instruments. The Company believes that the fair values of its long-term debt approximates its carrying value based on the effective interest rate compared to the current market rate available to the Company. Earnings (loss) Per Share Basic earnings (loss) per share are based on the weighted average number of common shares outstanding without consideration of common stock equivalents. Diluted earnings per share are based on the weighted average number of common shares and common stock equivalents. The diluted earnings per share calculation takes into account unvested restricted shares and the shares that may be issued upon exercise of stock options, reduced by shares that may be repurchased with the funds received from the exercise, based on the average price during the fiscal period. Potentially dilutive securities are excluded from the computation of diluted loss per share since their effect would be antidilutive. Reclassifications Certain reclassifications have been made to the prior period statement of cash flows as it relates to accounts payable and other accrued expenses to conform to the current period presentation. These reclassifications have no effect on the accompanying unaudited condensed consolidated financial statements. Recent Accounting Pronouncements The Company considers the applicability and impact of all accounting standards updates (“ASUs”). Management periodically reviews new accounting standards that are issued. New Accounting Pronouncements Recently Adopted In February 2016, the Financial Accounting Standards Board (“FASB”) established Topic 842, Leases, by issuing Accounting Standards Update (“ASU”) No. 2016-02, which requires lessees to recognize leases on-balance sheet and disclose key information about leasing arrangements. Topic 842 was subsequently amended by ASU No. 2018-01, Land Easement Practical Expedient for Transition to Topic 842; ASU No. 2018-10, Codification Improvements to Topic 842, Leases; and ASU No. 2018-11, Targeted Improvements. The new standard establishes a right-of-use model (“ROU”) that requires a lessee to recognize a ROU asset and lease liability on the balance sheet for all leases with a term longer than 12 months. Leases will be classified as finance or operating, with classification affecting the pattern and classification of expense recognition in the income statement. The new standard is effective on February 1, 2019. A modified retrospective transition approach is required, applying the new standard to all leases existing at the date of initial application. An entity may choose to use either (1) its effective date or (2) the beginning of the earliest comparative period presented in the financial statements as its date of initial application. If an entity chooses the second option, the transition requirements for existing leases also apply to leases entered into between the date of initial application and the effective date. The entity must also recast its comparative period financial statements and provide the disclosures required by the new standard for the comparative periods. The Company adopted the new standard on February 1, 2019 and used the effective date as the date of initial application. Consequently, financial information will not be updated and the disclosures required under the new standard will not be provided for dates and periods before February 1, 2019. The new standard provides a number of optional practical expedients in transition. The Company elects the ‘package of practical expedients’, which permits the Company not to reassess under the new standard prior conclusions about lease identification, lease classification and initial direct costs. On adoption, the Company recognized additional operating lease liabilities of approximately $2.5 million with corresponding ROU assets of the same amount based on the present value of the remaining minimum rental payments under the prior leasing standard for existing operating leases. In February 2018, the FASB issued ASU 2018-02, Income Statement – Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects From Accumulated Other Comprehensive Income,” which allows institutions to elect to reclassify the stranded tax effects from AOCI to retained earnings, limited only to amounts in AOCI that are affected by the tax reform law. For public entities, the amendments are effective for annual reporting periods beginning after December 15, 2018, including interim reporting periods within that reporting period. For all other entities, the amendments in this Update are effective for annual reporting periods beginning after December 15, 2019, including interim reporting periods within that reporting period. The Company has adopted this guidance, which had no material impact on its unaudited condensed consolidated financial statements and related disclosures. New Accounting Pronouncements Not Yet Adopted In January 2017, the FASB issued ASU No. 2017-04, Intangibles-Goodwill and Other (Topic 350), which includes provisions, intended to simplify the test for goodwill impairment. The standard is effective for annual periods beginning after December 15, 2019, with early adoption permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The Company does not expect the adoption of this standard to have a significant impact on its financial position and results of operations. No other recently issued accounting pronouncements had or are expected to have a material impact on the Company’s unaudited condensed consolidated financial statements.

Inventories

Inventories	3 Months Ended
	Apr. 30, 2019
Inventory Disclosure [Abstract]
Inventories, net	Inventories consist of the following (in $000s): April 30, 2019 January 31, 2019 Raw materials $ 18,070 $ 14,986 Work-in-process 1,694 987 Finished goods 26,997 26,392 $ 46,761 $ 42,365

Leases

Leases	3 Months Ended
	Apr. 30, 2019
Leases [Abstract]
Leases	We lease real property, equipment and certain automobiles. The Company made the accounting policy election to account for short-term leases as described herein. Leases with an initial term of 12 months or less are not recorded on the balance sheet; we recognize lease expense for these leases on a straight-line basis over the lease term. The Company determines if a contract contains a lease at inception. US GAAP requires that the Company’s leases be evaluated and classified as operating or finance leases for financial reporting purposes. The classification evaluation begins at the commencement date and the lease term used in the evaluation includes the non-cancellable period for which the Company has the right to use the underlying asset, together with renewal option periods when the exercise of the renewal option is reasonably certain and failure to exercise such option would result in an economic penalty. All of the Company’s real estate leases are classified as operating leases. Most of our real estate leases include one or more options to renew, with renewal terms that generally can extend the lease term for an additional four to five years. The exercise of lease renewal options is at the Company’s discretion. The Company evaluates renewal options at lease inception and on an ongoing basis, and includes renewal options that it is reasonably certain to exercise in its expected lease terms when classifying leases and measuring lease liabilities. Lease agreements generally do not require material variable lease payments, residual value guarantees or restrictive covenants. Leases recorded on the unaudited condensed consolidated balance sheet consist of the following: Leases (000’s) Classification April 30, 2019 Assets Operating lease assets Operating lease right-of-use assets $ 2,234 Liabilities Current Operating Current portion of operating lease liabilities 676 Noncurrent Operating Long-term portion of operating lease liabilities 1,559 Total Lease Obligations $ 2,235 Lease cost The components of lease expense are included on the unaudited condensed consolidated statement of operations as follows (in $000's): Classification Three Months Ended April 30, 2019 Operating lease cost Cost of goods sold $ 145 Operating expenses $ 119 Short-term lease cost $ 36 Maturity of Lease Liabilities Maturity of lease liabilities as of April 30, 2019 was as follows (in $000’s): Year ending January 31, Operating Leases (a) Remainder of fiscal year 2020 $ 675 2021 697 2022 567 2023 486 2024 14 Thereafter 81 Total lease payments $ 2,520 Less: Interest 286 Present value of lease liability $ 2,235 (a) Operating leases payments include $257,000 related to options to extend lease terms that are reasonably certain of being exercised. Weighted-average lease terms and discount rates are as follows: Weighted-average remaining lease term (years) April 30, 2019 Operating leases 3.4 Weighted-average discount rate Operating leases 6.0 % Supplemental cash flow information related to leases for the three months ended April 30, 2019 were as follows (in 000’s): Cash paid for amounts included in the measurement of lease liabilities; Three Months Ended April 30, 2019 Operating cash flows from operating leases $ 264 Leased assets obtained in exchange for new operating lease liabilities $ 2,486 Disclosures related to periods prior to adoption of ASU 2016-02 The Company adopted ASU 2016-02 using a modified retrospective adoption method at January 1, 2019 as noted in Note 3. "Recent Accounting Pronouncements." As required, the following disclosure is provided for periods prior to adoption. Minimum lease commitments as of January 31, 2019 that have initial or remaining lease terms in excess of one year are as follows: Leases Total rental costs under all operating leases are summarized as follows: Year ended January 31, Gross rental 2019 $ 1,022,162 2018 $ 841,235 Minimum annual rental commitments for the remaining term of the Company’s noncancelable operating leases relating to manufacturing facilities, office space and equipment rentals at January 31, 2019, including lease renewals subsequent to year end, are summarized as follows: Year ending January 31, 2020 761,350 2021 446,494 2022 435,310 2023 313,633 2024 8,418 and thereafter 8,944 Total $ 1,974,149

Long-Term Debt

Long-Term Debt	3 Months Ended
	Apr. 30, 2019
Debt Disclosure [Abstract]
Long-term Debt	Revolving Credit Facility On May 10, 2017, the Company entered into a Loan Agreement (the “Loan Agreement”) with SunTrust Bank (“Lender”). The Loan Agreement provides the Company with a secured (i) $20.0 million revolving credit facility, which includes a $5.0 million letter of credit sub-facility, and (ii) $1,575,000 term loan with Lender. The Company may request from time to time an increase in the revolving credit loan commitment of up to $10.0 million (for a total commitment of up to $30.0 million). Borrowing pursuant to the revolving credit facility is subject to a borrowing base amount calculated as (a) 85% of eligible accounts receivable, as defined, plus (b) an inventory formula amount, as defined, minus (c) an amount equal to the greater of (i) $1,500,000 or (ii) 7.5% of the then current revolver commitment amount, minus (d) certain reserves as determined by the Loan Agreement. The credit facility matures on May 10, 2020 (subject to earlier termination upon the occurrence of certain events of default as set forth in the Loan Agreement). Borrowings under the term loan and the revolving credit facility bear interest at an interest rate determined by reference whether the loan is a base rate loan or Eurodollar loan, with the rate election made by the Company at the time of the borrowing or at any time the Company elects pursuant to the terms of the Loan Agreement. The term loan is payable in equal monthly principal installments of $13,125 each, beginning on June 1, 2017, and on the first day of each succeeding month, with a final payment of the remaining principal and interest on May 10, 2020 (subject to earlier termination as provided in the Loan Agreement). For that portion of the term loan that consists of Eurodollar loans, the term loan shall bear interest at the LIBOR Market Index Rate (“LIBOR”) plus 2.0% per annum, and for that portion of the term loan that consists of base rate loans, the term loan shall bear interest at the base rate then in effect plus 1.0% per annum. All principal and unpaid accrued interest under the revolving credit facility shall be due and payable on the maturity date of the revolver. For that portion of the revolver loan that consists of Eurodollar loans, the revolver shall bear interest at LIBOR plus a margin rate of 1.75% per annum for the first six months and thereafter between 1.5% and 2.0%, depending on the Company’s “availability calculation” (as defined in the Loan Agreement) and, for that portion of the revolver that consists of base rate loans, the revolver shall bear interest at the base rate then in effect plus a margin rate of 0.75% per annum for the first six months and thereafter between 0.50% and 1.0%, depending on the availability calculation. As of the closing, the Company elected all borrowings under the Loan Agreement to accrue interest at LIBOR which, as of that date, was 0.99500%. As such, the initial rate of interest for the revolver was 2.745% per annum and the initial rate of interest for the term loan was 2.995% per annum. The Loan Agreement provides for payment of an unused line fee of between 0.25% and 0.50%, depending on the amount by which the revolving credit loan commitment exceeds the amount of the revolving credit loans outstanding (including letters of credit), which shall be payable monthly in arrears on the average daily unused portion of the revolver. There was a $0 balance on the revolver at April 30, 2019. The Company agreed to maintain a minimum “fixed charge coverage ratio” (as defined in the Loan Agreement) as of the end of each fiscal quarter, commencing with the fiscal quarter ended July 31, 2017, of not less than 1.10 to 1.00 during the applicable fiscal quarter, and agreed to certain negative covenants that are customary for credit arrangements of this type, including restrictions on the Company’s ability to enter into mergers, acquisitions or other business combination transactions, conduct its business, grant liens, make certain investments, incur additional indebtedness, and make stock repurchases. Effective June 7, 2019 the Company entered into an amended agreement with Suntrust Bank. The fixed charge coverage ratio for quarters ending April 30, 2019, July 31, 2019 and October 31, 2019 have been waived and will again commence for the fiscal quarter ending January 31, 2020 and each fiscal quarter ending thereafter. The Company will maintain availability of at least $10 million for the period commencing on May 31, 2019 through December 31, 2019. In connection with the Loan Agreement, the Company entered into a security agreement, dated May 10, 2017, with Lender pursuant to which the Company granted to Lender a first priority perfected security interest in substantially all real and personal property of the Company. Borrowings in UK On December 31, 2014, the Company and Lakeland Industries Europe, Ltd, (“Lakeland UK”), a wholly owned subsidiary of the Company, amended the terms of its existing line of credit facility with HSBC Bank to provide for (i) a one-year extension of the maturity date of the existing financing facility to December 19, 2016, (ii) an increase in the facility limit from £1,250,000 (approximately USD $1.9 million, based on exchange rates at time of closing) to £1,500,000 (approximately USD $2.3 million, based on exchange rates at time of closing), and (iii) a decrease in the annual interest rate margin from 3.46% to 3.0%. In addition, pursuant to a letter agreement dated December 5, 2014, the Company agreed that £400,000 (approximately USD $0.6 million, based on exchange rates at time of closing) of the note payable by the UK subsidiary to the Company shall be subordinated in priority of payment to the subsidiary’s obligations to HSBC under the financing facility. On December 31, 2016, Lakeland UK entered into an extension of the maturity date of its existing facility with HSBC Invoice Finance (UK) Ltd. to December 19, 2017. Other than the extension of the maturity date and a small reduction of the service charge from 0.9% to 0.85%, all other terms of the facility remained the same. On September 4, 2017 the facility was amended to include Algeria as an approved country. On December 4, 2017 the facility was extended to March 31, 2018 for the next review period and, as of March 9, 2019 the facility was extended to mature on March 31, 2020 with no additional changes to the terms. The balance under this loan outstanding at April 30, 2019 and January 31, 2019 was USD $0.2 million and USD $0.0 million, respectively, and is included in other accrued expenses on the accompanying unaudited condensed consolidated balance sheets. The amount of $0.4 million due from HSBC as of January 31, 2019 is included in Other Current Assets on the accompanying unaudited condensed consolidated balance sheet. Argentina Loan In April 2015, Lakeland Argentina S.R.L. (“Lakeland Argentina”), the Company’s Argentina subsidiary was granted a $300,000 line of credit denominated in Argentine pesos, pursuant to a standby letter of credit granted by the parent company. The following loans were made under the $300,000 facility stated above: On May 19, 2017 Lakeland Argentina and BNA entered into an agreement for Lakeland Argentina to obtain a loan in the amount of ARS $1.8 million (approximately USD $112,000, based on exchange rates at time of closing); such loan is for a term of one year at an interest rate of 20.0% per annum. This agreement was paid in full in May 2018. On February 26, 2018 Lakeland Argentina and BNA entered into an agreement for Lakeland Argentina to obtain a loan in the amount of ARS $4.3 million (approximately USD $215,000, based on exchange rates at time of closing); such loan is for a term of one year at an interest rate of 32.0% per annum. This agreement was paid in full in January 2019. Below is a table to summarize the debt amounts above (in 000’s): Short-Term Long-term Current Maturity of Long-term April 30, January 31, April 30, January 31, April 30, January 31, 2019 2019 2019 2019 2019 2019 USA $ ----- $ ----- $ 1,121 $ 1,161 $ 158 $ 158 UK 160 ----- ----- ----- ----- ----- Totals $ 160 $ ----- $ 1,121 $ 1,161 $ 158 $ 158 Five-year Debt Payout Schedule This schedule reflects the liabilities as of April 30, 2019, and does not reflect any subsequent event (in 000’s): Total 1 Year or less 2 Years 3 Years 4 Years 5 Years After 5 Years Borrowings in USA $ 1,279 $ 158 $ 1,121 $ ----- $ ----- $ ----- $ ----- Borrowing in the UK 160 160 ----- ----- ----- ----- ----- Total $ 1,439 $ 318 $ 1,121 $ ----- $ ----- $ ----- $ -----

Concentration of Risk

Concentration of Risk	3 Months Ended
	Apr. 30, 2019
Risks and Uncertainties [Abstract]
Concentration of Risk	Credit Risk Financial instruments, which potentially subject the Company to concentration of credit risk, consist principally of cash and cash equivalents, and trade receivables. Concentration of credit risk with respect to trade receivables is generally diversified due to the large number of entities comprising the Company’s customer base and their dispersion across geographic areas principally within the United States. The Company routinely addresses the financial strength of its customers and, as a consequence, believes that its receivable credit risk exposure is limited. The Company does not require customers to post collateral. The Company’s foreign financial depositories are Bank of America; China Construction Bank; Bank of China; China Industrial and Commercial Bank; HSBC (UK); Rural Credit Cooperative of Shandong; Postal Savings Bank of China; Punjab National Bank; HSBC in India, Argentina and UK; Raymond James in Argentina; TD Canada Trust; Banco Itaú S.A., Banco Credito Inversione in Chile; Banco Mercantil Del Norte SA in Mexico; ZAO KB Citibank Moscow in Russia, and JSC Bank Centercredit in Kazakhstan. The Company monitors its financial depositories by their credit rating which varies by country. In addition, cash balances in banks in the United States of America are insured by the Federal Deposit Insurance Corporation subject to certain limitations. There is approximately $2.8 million total included in the US bank accounts and approximately $11.5 million total in foreign bank accounts as of April 30, 2019. Major Customer No customer accounted for more than 10% of net sales during the three month periods ended April 30, 2019 and 2018. Major Supplier No supplier accounted for more than 10% of purchases during the three month periods ended April 30, 2019 and 2018.

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Apr. 30, 2019
Equity [Abstract]
Stockholders' Equity	The 2017 Stock Plan On June 21, 2017, the stockholders of the Company approved the Lakeland Industries, Inc. 2017 Equity Incentive Plan (the “2017 Plan”) at the Annual Meeting of Stockholders. The executive officers and all other employees and directors of the Company, including its subsidiaries, are eligible to participate in the 2017 Plan. The 2017 Plan is administered by the Compensation Committee of the Board of Directors (the “Committee”), except that with respect to all non-employee directors, the Committee shall be deemed to include the full Board. The 2017 Plan provides for the grant of equity-based compensation in the form of stock options, restricted stock, restricted stock units, performance shares, performance units, or stock appreciation rights (“SARS”). The Committee has the authority to determine the type of award, as well as the amount, terms and conditions of each award, under the 2017 Plan, subject to the limitations and other provisions of the 2017 Plan. An aggregate of 360,000 shares of the Company’s common stock are authorized for issuance under the 2017 Plan, subject to adjustment as provided in the 2017 Plan for stock splits, dividends, distributions, recapitalizations and other similar transactions or events. If any shares subject to an award are forfeited, expire, lapse or otherwise terminate without issuance of such shares, such shares shall, to the extent of such forfeiture, expiration, lapse or termination, again be available for issuance under the 2017 Plan. The following table summarizes the unvested shares granted on September 12, 2017 and June 7, 2018, which have been made under the 2017 Plan. Number of shares awarded total Minimum Target Maximum Cap Employees 42,061 63,095 84,126 101,001 Non-employee Directors 14,414 21,622 28,829 34,595 Total 56,475 84,717 112,955 135,596 Value at grant date (numbers below are rounded to the nearest $100) Minimum Target Maximum Cap Employees $ 583,600 $ 875,400 $ 1,167,200 $ 1,401,300 Non-employee Directors 200,000 300,000 400,000 480,000 Total $ 783,600 $ 1,175,400 $ 1,567,200 $ 1,881,300 Of the total number of shares awarded at Maximum, there are an aggregate of 112,995 shares underlying restricted stock awards and in addition in the 2017 Plan there are 6,376 shares underlying awards of stock appreciation rights with a base price of $13.80 per share. These stock appreciation rights are classified as liability awards and are remeasured at fair value each reporting period until the award is settled. As of April 30, 2019, and January 31, 2019 the Company has recorded a liability in the amount of $25,438, and $25,559, respectively related to these stock appreciation rights. The actual number of shares of common stock of the Company, if any, to be earned by the award recipients is determined over a full three fiscal year performance period commencing on February 1, 2017 and ending on January 31, 2020 in the case of the 2017 grants, and commencing on February 1, 2018 and ending on January 31, 2021 in the case of the 2018 grants, based on the level of earnings before interest, taxes, depreciation and amortization (“EBITDA”) achieved by the Company over this period. The EBITDA targets have been set for each of the Minimum, Target, Maximum and Cap levels, at higher amounts for each of the higher levels. The actual EBITDA amount achieved is determined by the Committee and may be adjusted for items determined to be unusual in nature or infrequent in occurrence, which items may include, without limitation, the charges or costs associated with restructurings of the Company or any subsidiary, discontinued operations, and the cumulative effects of accounting changes. Under the 2017 Plan, as described above, the Company awarded performance-based restricted stock and stock appreciation rights to eligible employees and directors. Such awards were at either Minimum, Target, Maximum or Cap levels, based on three year EBITDA targets. The Company recognizes expense related to performance-based restricted share awards over the requisite performance period using the straight-line attribution method based on the most probable outcome (Minimum, Target, Maximum, Cap or Zero) at the end of the performance period and the price of the Company’s common stock price at the date of grant. The Company is recognizing expense related to awards under the 2017 Plan at Maximum, including SARS. As of April 30, 2019, unrecognized stock-based compensation expense totaled $795,641 pursuant to the 2017 Plan based on the maximum performance award level. Such unrecognized stock-based compensation expense totaled $425,767 for the 2017 Plan at the minimum performance award level. The cost of these non-vested awards is expected to be recognized over a weighted-average period of three years for the 2017 Plan. The Company recognized total stock-based compensation costs, which are reflected in operating expenses: Three Months Ended April 30, 2019 2018 2017 Plan $ 201,829 $ 121,153 Stock appreciation rights (2017 Plan) (121 ) (1,913 ) Total stock-based compensation $ 201,708 $ 119,240 Shares issued under 2017 Stock Plan Outstanding Unvested Grants at Maximum at Beginning of FY20 Granted during FY20 Becoming Vested during FY20 Forfeited during FY20 Outstanding Unvested Grants at Maximum at End of April 30, 2019 Restricted stock grants – employees 84,126 ----- ----- ----- 84,126 Restricted stock grants – non-employee directors 28,829 ----- ----- ----- 28,829 Retainer in stock – non-employee directors 25,044 3,341 ----- ----- 28,385 Total restricted stock 137,999 3,341 ----- ----- 141,340 Weighted average grant date fair value $ 13.77 $ 12.69 $ ----- $ ----- $ 13.75 Other Compensation Plans/Programs Pursuant to the Company’s restrictive stock program, all directors are eligible to elect to receive any director fees in shares of restricted stock in lieu of cash. Such restricted shares are subject to a two-year vesting period. The valuation is based on the stock price at the grant date and is amortized to expense over the two-year period, which approximates the performance period. Since the director is giving up cash for unvested shares, and is subject to a vesting requirement, the amount of shares awarded is 133% of the cash amount based on the grant date stock price. As of April 30, 2019, unrecognized stock-based compensation expense related to these restricted stock awards totaled $55,920 for the 2017 Plan. The cost of these non-vested awards is expected to be recognized over a two-year weighted-average period. In addition, as of April 30, 2019, the Company granted awards for up to an aggregate of 28,385 shares for the 2017 Plan. Stock Repurchase Program On July 19, 2016, the Company’s board of directors approved a stock repurchase program under which the Company may repurchase up to $2,500,000 of its outstanding common stock. The Company has repurchased 105,648 shares of stock under this program as of the date of this filing which amounted to $1,164,915, inclusive of commissions. No shares were repurchased during the three month period ended April 30, 2019. Warrant In October 2014, the Company issued a five-year warrant that is immediately exercisable to purchase up to 55,500 shares of the Company’s common stock at an exercise price of $11.00 per share. As of April 30, 2019 and January 31, 2019, the warrant to purchase up to 55,500 shares remains outstanding. Authorized Shares On June 27, 2018, the Company filed with the Secretary of State of the State of Delaware a Certificate of Amendment to the Company’s Restated Certificate of Incorporation, increasing the number of authorized shares from 11,500,000 to 21,500,000, of which 20,000,000 shares are of the Company’s common stock and 1,500,000 shares are of the Company’s preferred stock. The Certificate of Amendment was deemed effective as of June 25, 2018. The increase effected solely the number of authorized shares of common stock.

Income Taxes

Income Taxes	3 Months Ended
	Apr. 30, 2019
Income Tax Disclosure [Abstract]
Income Taxes	Change in Valuation Allowance The Company records net deferred tax assets to the extent the Company believes these assets will more likely than not be realized. The valuation allowance was $1.3 million at April 30, 2019 and January 31, 2019. The valuation allowance stayed the same for the three months ended April 30, 2019 and 2018, respectively. Income Tax Expense Income tax expenses consist of federal, state and foreign income taxes. The statutory rate is the US rate. Reconciling items to the effective rate are foreign income subject to US tax, tax deductions for restricted stock vesting, company borrowing structures, and other permanent tax differences. Tax Reform On December 22, 2017, new federal tax reform legislation was enacted in the United States, resulting in significant changes from previous tax law. The 2017 Tax Cuts and Jobs Act (the Tax Act) reduced the federal corporate income tax rate to 21% from 35% effective January 1, 2018. The Tax Act requires us to recognize the effect of the tax law changes in the period of enactment, such as determining the transition tax, re-measuring our US deferred tax assets as well as reassessing the net realizability of our deferred tax assets. The Company completed this re-measurement and reassessment in FY18. While the Tax Act provides for a modified territorial tax system, beginning in 2018, it includes two new U.S. tax base erosion provisions, the global intangible low-taxed income (“GILTI”) provisions and the base-erosion and anti-abuse tax (“BEAT”) provisions. The GILTI provisions require the Company to include in its U.S. income tax return foreign subsidiary earnings in excess of an allowable return on the foreign subsidiary’s tangible assets. The proposed regulations were not finalized as of January 31, 2019 and, as of this reporting date, remain in the proposal stage. Due to this uncertainty, it is difficult to predict the future impact, however, the Company does expect that the GILTI income inclusion will result in significant U.S. tax expense beginning in FY19. Re-measurement and reassessment of the GILTI tax as it is currently written resulted in a charge to tax expense of $0.1 million in the first quarter of FY20. The Company intends to account for the GILTI tax in the period in which it is incurred. Though this non-cash expense had a materially negative impact on FY19 earnings, the Tax Act also changes the taxation of foreign earnings, and companies generally will not be subject to United States federal income taxes upon the receipt of dividends from foreign subsidiaries. The BEAT provisions in the Tax Act pertain to companies with average annual gross receipts of $500 million for the prior 3-year period and eliminate the deduction of certain base-erosion payments made to related foreign corporations and impose a minimum tax if greater than regular tax. Based on current guidelines the Company does not expect the BEAT provision to have an impact on U.S. tax expense

Earnings (Loss) Per Share

Earnings (Loss) Per Share	3 Months Ended
	Apr. 30, 2019
Net income (loss) per common share:
Earnings Per Share	The following table sets forth the computation of basic and diluted earnings (loss) per share at April 30, 2019 and 2018 as follows: Three Months Ended April 30, (in $000s except share and per share information) 2019 2018 Numerator: Net income (loss) $ (465 ) $ 1,867 Denominator: Denominator for basic earnings (loss) per share (weighted-average shares which reflect shares in the treasury, 462,089 and 356,441 for April 30, 2019 and 2018, respectively) 8,013,840 8,116,199 Effect of dilutive securities from restricted stock plan and from dilutive effect of warrants ----- 44,181 Denominator for diluted earnings (loss) per share (adjusted weighted average shares) 8,013,840 8,160,380 Basic earnings (loss) per share $ (0.06 ) $ 0.23 Diluted earnings (loss) per share $ (0.06 ) $ 0.23 Warrants and restricted stock awards excluded from the computation of diluted loss per share because the effect of inclusion would have been anti-dilutive. 196,340 -----

Contingencies

Contingencies	3 Months Ended
	Apr. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Contingencies	Labor and other contingencies in Brazil As disclosed in our periodic filings with the SEC, we agreed to make certain payments in connection with ongoing labor litigation involving our former Brazilian subsidiary (“Lakeland Brazil”). While the vast majority of these labor suits have been resolved, there are labor cases that remain active, including a civil case filed by a former officer of our former Brazilian subsidiary, in which Lakeland was named as a co-defendant. The first case was initially filed in 2010 claiming USD $100,000 owed to plaintiff. This case is on its final appeal to the Brazilian Superior Labor Court, having already been ruled upon in favor of Lakeland more than once. Management firmly believes that Lakeland will continue to prevail in this case. A second case filed against Lakeland by a former officer of Lakeland Brazil, was filed in Labor court in 2014 claiming Lakeland owed USD $300,000. The Labor court ruled that the claimant’s case was outside of the scope of The Labor court and the case was dismissed. The claimant is appealing within The Labor court system. A third case filed by a former Lakeland Brazil manager in 2014 was ruled upon in Labor court and awarded the claimant USD $100,000. Both the claimnd Lakeland Brazil have appealed this decision. Labor Court of Appeal recently ruled in favor of Lakeland Brazil to determine the annulment of the first and previous decision. In the fourth case a former officer of our former Brazilian subsidiary filed a claim seeking approximately USD $700,000 that he alleges is due to him against an unpaid promissory note. Lakeland has not been served with process and no decision on the merits has been issued in this case yet. Management firmly believes these claims to be without any merit and does not anticipate a negative outcome resulting in significant expense to us. Lakeland Brazil may face new labor lawsuits in the short term as a result of the shutdown of its operations in March 2019. The Company has no obligation under the 2015 Shares Transfer Agreement (pursuant to which Agreement, the Company eliminated its interest in Lakeland Brazil) to make any additional payments in connection with these potential new labor lawsuits. The Company also understands that under the labor laws of Brazil, a parent company may be held liable for the labor liabilities of a former Brazilian subsidiary in the case of fraud, misconduct, or under various theories. Although the Company would have the right of adversary system, full defense and due process in case of a potential litigation, there can be no assurance as to the findings of the courts of Brazil. There are additional cases in Labor and Civil courts against Lakeland Brazil in which Lakeland is not a party, and other outstanding monetary allegations of Lakeland Brazil. In FY19, the Company recorded an accrual of $1.2 million for professional fees and litigation reserves associated with labor claims in Brazil. The accrual on the balance sheet at April 30, 2019 and January 31, 2019 is $1.1 million and $1.2 million, respectively. General litigation contingencies: The Company is involved in various litigation proceedings arising during the normal course of business which, in the opinion of the management of the Company, will not have a material effect on the Company’s financial position, results of operations or cash flows; however, there can be no assurance as to the ultimate outcome of these matters. As of April 30, 2019, to the best of the Company’s knowledge, there were no outstanding claims or litigation, except for the labor contingencies in Brazil described above.

Segment Reporting

Segment Reporting	3 Months Ended
	Apr. 30, 2019
Segment Reporting [Abstract]
Segment Reporting	Three Months Ended April 30, 2019 2018 Domestic $ 12.87 52.12 % $ 12.35 50.75 % International 11.81 47.88 % 11.99 49.25 % Total $ 24.68 100.00 % $ 24.34 100.00 % Domestic and international sales from continuing operations are as follows in millions of dollars: The Company manages its operations by evaluating each of its geographic locations. The US operations include a facility in Alabama (primarily the distribution to customers of the bulk of our products and the light manufacturing of our chemical, wovens, reflective, and fire products). The Company also maintains one manufacturing company in China (primarily disposable and chemical suit production), a manufacturing facility in Mexico (primarily disposable, reflective, fire and chemical suit production), a manufacturing facility in Vietnam (primarily disposable products), a manufacturing facility in Argentina and a small manufacturing facility in India. The China facilities produce the majority of the Company’s products and China generates a significant portion of the Company’s international revenues. The Company evaluates the performance of these entities based on operating profit, which is defined as income before income taxes, interest expense and other income and expenses. The Company maintains sales forces in the USA, Canada, Mexico, Europe, Latin America, India, Russia, Kazakhstan, Uruguay and China, which sell and distribute products shipped from the United States, China, Mexico, India or Vietnam. The table below represents information about reported segments for the years noted therein: Three Months Ended April 30, (in millions of dollars) 2019 2018 Net Sales: USA $ 13.90 $ 13.31 Other foreign 1.36 1.49 Europe (UK) 2.39 2.57 Mexico 0.90 1.47 Asia 13.18 13.83 Canada 2.50 2.21 Latin America 1.74 1.42 Corporate ----- 0.36 Less intersegment sales (11.29 ) (12.32 ) Consolidated sales $ 24.68 $ 24.34 External Sales: USA $ 12.87 $ 12.35 Other foreign 0.78 0.84 Europe (UK) 2.39 2.57 Mexico 0.60 1.11 Asia 3.83 3.95 Canada 2.49 2.19 Latin America 1.72 1.33 Consolidated external sales $ 24.68 $ 24.34 Intersegment Sales: USA $ 1.03 $ 0.96 Other foreign 0.58 0.65 Mexico 0.30 0.36 Asia 9.35 9.88 Canada 0.01 0.02 Latin America 0.02 0.09 Corporate ----- 0.36 Consolidated intersegment sales $ 11.29 $ 12.32 Three Months Ended April 30, (in millions of dollars) 2019 2018 Operating Profit (Loss): USA $ 0.82 $ 2.63 Other foreign 0.14 0.06 Europe (UK) 0.01 0.09 Mexico (0.18 ) 0.13 Asia 0.23 0.58 Canada 0.25 0.37 Latin America 0.24 0.14 Corporate (1.94 ) (1.79 ) Less intersegment profit 0.11 0.21 Consolidated operating profit (loss) $ (0.32 ) $ 2.42 Depreciation and Amortization Expense: USA $ 0.13 $ 0.03 Other foreign (0.01 ) 0.01 Europe (UK) ----- ----- Mexico 0.04 0.03 Asia 0.14 0.05 Canada ----- 0.02 Latin America 0.01 0.01 Corporate 0.08 0.05 Less intersegment (0.01 ) (0.01 ) Consolidated depreciation & amortization expense $ 0.38 $ 0.19 Interest Expense: Latin America $ 0.02 $ 0.02 Corporate 0.01 0.01 Consolidated interest expense $ 0.03 $ 0.03 Income Tax Expense: Europe (UK) $ ----- $ 0.02 Asia 0.15 0.16 Canada 0.04 0.08 Latin America 0.01 0.01 Corporate (0.13 ) 0.19 Less intersegment 0.02 0.06 Consolidated income tax expense $ 0.09 $ 0.52 Capital Expenditures: USA (including Corporate) $ 0.06 $ (0.03 ) Other foreign ----- 0.04 Mexico 0.06 0.08 Asia 0.04 0.18 Consolidated capital expenditure $ 0.17 $ 0.27 April 30, 2019 (in millions of dollars) January 31, 2019 (in millions of dollars) Total Assets: * USA Operations $ 68.71 $ 67.26 Other foreign 1.68 1.54 Europe (UK) 4.49 4.37 Mexico 4.99 5.00 Asia 41.09 39.52 Canada 7.20 7.47 Latin America 7.12 7.42 Corporate 24.02 25.07 Less intersegment (57.73 ) (62.93 ) Consolidated assets $ 101.57 $ 94.72 Total Assets Less Intersegment:* USA Operations $ 31.04 $ 29.76 Other foreign 3.13 2.85 Europe (UK) 4.49 4.36 Mexico 4.95 5.13 Asia 26.49 20.97 Canada 6.38 6.64 Latin America 5.35 5.27 Corporate 19.74 19.74 Consolidated assets $ 101.57 $ 94.72 Property and Equipment USA (including Corporate) $ 3.74 $ 3.87 Other foreign 0.20 0.19 Europe (UK) 0.01 0.01 Mexico 2.15 2.14 Asia 3.10 3.17 Canada 1.26 1.26 Latin America 0.06 0.07 Less intersegment 0.07 0.07 Consolidated long-lived assets $ 10.59 $ 10.78 Goodwill: USA Operations $ 0.87 $ 0.87 Consolidated goodwill $ 0.87 $ 0.87 *Negative assets reflect intersegment amounts eliminated in consolidation

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Apr. 30, 2019
Accounting Policies [Abstract]
Principles of Consolidation	The accompanying unaudited condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All significant intercompany accounts and transactions have been eliminated.
Use of Estimates and Assumptions	The preparation of unaudited condensed consolidated financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the balance sheet date, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. It is reasonably possible that events could occur during the upcoming year that could change such estimates.
Accounts Receivable, net	Trade accounts receivable are stated at the amount the Company expects to collect. The Company maintains allowances for doubtful accounts for estimated losses resulting from the inability of its customers to make required payments. The Company recognizes losses when information available indicates that it is probable that a receivable has been impaired based on criteria noted below at the date of the unaudited condensed consolidated financial statements, and the amount of the loss can be reasonably estimated. Management considers the following factors when determining the collectability of specific customer accounts: Customer creditworthiness, past transaction history with the customers, current economic industry trends and changes in customer payment terms. Past due balances over 90 days and other less creditworthy accounts are reviewed individually for collectability. If the financial condition of the Company’s customers were to deteriorate, adversely affecting their ability to make payments, additional allowances would be required. Based on management’s assessment, the Company provides for estimated uncollectible amounts through a charge to earnings and a credit to a valuation allowance. Balances that remain outstanding after the Company has used reasonable collection efforts are written off through a charge to the valuation allowance and a credit to accounts receivable.
Inventories	Inventories include freight-in, materials, labor and overhead costs and are stated at the lower of cost (on a first-in, first-out basis) or net realized value.
Impairment of Long-Lived Assets	The Company evaluates the carrying value of long-lived assets to be held and used when events or changes in circumstances indicate the carrying value may not be recoverable. The Company measures any potential impairment on a projected undiscounted cash flow method. Estimating future cash flows requires the Company’s management to make projections that can differ materially from actual results. The carrying value of a long-lived asset is considered impaired when the total projected undiscounted cash flows from the asset is less than its carrying value. In that event, a loss is recognized based on the amount by which the carrying value exceeds the fair value of the long-lived asset.
Revenue Recognition	Substantially all the Company’s revenue is derived from product sales, which consist of sales of the Company’s personal protective wear products to distributors. The Company considers purchase orders to be a contract with a customer. Contracts with customers are considered to be short-term when the time between order confirmation and satisfaction of the performance obligations is equal to or less than one year, and virtually all of the Company’s contracts are short-term. The Company recognizes revenue for the transfer of promised goods to customers in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those goods. The Company typically satisfies its performance obligations in contracts with customers upon shipment of the goods. Generally, payment is due from customers within 30 to 90 days of the invoice date, and the contracts do not have significant financing components. The Company elected to account for shipping and handling activities as a fulfillment cost rather than a separate performance obligation. Shipping and handling costs associated with outbound freight are included in operating expenses, and for the month ended April 30, 2019 and 2018, aggregated approximately $0.8 million and $0.6 million, respectively.Taxes collected from customers relating to product sales and remitted to governmental authorities are excluded from revenue. The transaction price includes estimates of variable consideration, related to rebates, allowances, and discounts that are reductions in revenue. All estimates are based on the Company's historical experience, anticipated performance, and the Company's best judgment at the time the estimate is made. Estimates for variable consideration are reassessed each reporting period and are included in the transaction price to the extent it is probable that a significant reversal of cumulative revenue recognized will not occur upon resolution of uncertainty associated with the variable consideration. All the Company’s contracts have a single performance obligation satisfied at a point in time and the transaction price is stated in the contract, usually as quantity times price per unit. The Company has seven revenue generating reportable geographic segments under ASC Topic 280 “Segment Reporting” and derives its sales primarily from its limited use/disposable protective clothing and secondarily from its sales of reflective clothing, high-end chemical protective suits, firefighting and heat protective apparel, reusable woven garments and gloves and arm guards. The Company believes disaggregation of revenue by geographic region best depicts the nature, amount, timing, and uncertainty of its revenue and cash flows (see table below). Net sales by geographic region and by product line are included below: Three Months Ended April 30, (in millions of dollars) 2019 2018 External Sales by region: USA $ 12.87 $ 12.35 Other foreign 0.78 0.84 Europe (UK) 2.39 2.57 Mexico 0.60 1.11 Asia 3.83 3.95 Canada 2.49 2.20 Latin America 1.72 1.32 Consolidated external sales $ 24.68 $ 24.34 Three Months Ended April 30, (in millions of dollars) 2019 2018 External Sales by product lines: Disposables $ 12.36 $ 13.08 Chemical 5.06 4.43 Fire 1.40 1.47 Gloves 0.75 0.79 Hi-Vis 2.12 1.72 Wovens 2.99 2.85 Consolidated external sales $ 24.68 $ 24.34
Income Taxes	The Company is required to estimate its income taxes in each of the jurisdictions in which it operates as part of preparing the unaudited condensed consolidated financial statements. This involves estimating the actual current tax in addition to assessing temporary differences resulting from differing treatments for tax and financial accounting purposes. These differences, together with net operating loss carryforwards and tax credits, are recorded as deferred tax assets or liabilities on the Company’s unaudited condensed consolidated balance sheet. A judgment must then be made of the likelihood that any deferred tax assets will be recovered from future taxable income. A valuation allowance may be required to reduce deferred tax assets to the amount that is more likely than not to be realized. In the event the Company determines that it may not be able to realize all or part of its deferred tax asset in the future, or that new estimates indicate that a previously recorded valuation allowance is no longer required, an adjustment to the deferred tax asset is charged or credited to income in the period of such determination. The Company recognizes tax positions that meet a “more likely than not” minimum recognition threshold. If necessary, the Company recognizes interest and penalties associated with tax matters as part of the income tax provision and would include accrued interest and penalties with the related tax liability in the unaudited condensed consolidated balance sheets. The Company does not have any uncertain tax positions at April 30, 2019 or January 31, 2019.
Foreign Operations and Foreign Currency Translation	The Company maintains manufacturing operations in Mexico, India, Argentina, Vietnam and the People’s Republic of China and can access independent contractors in China, Vietnam, Argentina and Mexico. It also maintains sales and distribution entities located in India, Canada, the U.K., Chile, China, Argentina, Russia, Kazakhstan, Uruguay and Mexico. The Company is vulnerable to currency risks in these countries. The functional currency for the United Kingdom subsidiary is the Euro; the trading company in China, the RMB; the Russian operation, the Russian Ruble, and the Kazakhstan operation the Kazakhstan Tenge. All other operations have the US dollar as its functional currency. Pursuant to US GAAP, assets and liabilities of the Company’s foreign operations with functional currencies, other than the US dollar, are translated at the exchange rate in effect at the balance sheet date, while revenues and expenses are translated at average rates prevailing during the periods. Translation adjustments are reported in accumulated other comprehensive loss, a separate component of stockholders’ equity. Cash flows are also translated at average translation rates for the periods, therefore, amounts reported on the consolidated statement of cash flows will not necessarily agree with changes in the corresponding balances on the consolidated balance sheet. Transaction gains and losses that arise from exchange rate fluctuations on transactions denominated in a currency other than the functional currency are included in the results of operations as incurred. Foreign currency transaction (loss) gain included in net income (loss) for the three months ended April 30, 2019 and 2018, were approximately $0.1 million and $(0.2) million, respectively.
Fair Value of Financial Instruments	US GAAP defines fair value, provides guidance for measuring fair value and requires certain disclosures utilizing a fair value hierarchy which is categorized into three levels based on the inputs to the valuation techniques used to measure fair value. The following is a brief description of those three levels: Level 1: Observable inputs such as quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2: Inputs other than quoted prices that are observable for the asset or liability, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active. Level 3: Unobservable inputs that reflect management’s own assumptions. The financial instruments of the Company classified as current assets or liabilities, including cash and cash equivalents, accounts receivable, short-term borrowings, borrowings under revolving credit facility, accounts payable and accrued expenses, are recorded at carrying value, which approximates fair value based on the short-term nature of these instruments. The Company believes that the fair values of its long-term debt approximates its carrying value based on the effective interest rate compared to the current market rate available to the Company.
Earnings (loss) Per Share	Basic earnings (loss) per share are based on the weighted average number of common shares outstanding without consideration of common stock equivalents. Diluted earnings per share are based on the weighted average number of common shares and common stock equivalents. The diluted earnings per share calculation takes into account unvested restricted shares and the shares that may be issued upon exercise of stock options, reduced by shares that may be repurchased with the funds received from the exercise, based on the average price during the fiscal period. Potentially dilutive securities are excluded from the computation of diluted loss per share since their effect would be antidilutive.
Reclassifications	Certain reclassifications have been made to the prior period statement of cash flows as it relates to accounts payable and other accrued expenses to conform to the current period presentation. These reclassifications have no effect on the accompanying unaudited condensed consolidated financial statements.
Recent Accounting Pronouncements	The Company considers the applicability and impact of all accounting standards updates (“ASUs”). Management periodically reviews new accounting standards that are issued. New Accounting Pronouncements Recently Adopted In February 2016, the Financial Accounting Standards Board (“FASB”) established Topic 842, Leases, by issuing Accounting Standards Update (“ASU”) No. 2016-02, which requires lessees to recognize leases on-balance sheet and disclose key information about leasing arrangements. Topic 842 was subsequently amended by ASU No. 2018-01, Land Easement Practical Expedient for Transition to Topic 842; ASU No. 2018-10, Codification Improvements to Topic 842, Leases; and ASU No. 2018-11, Targeted Improvements. The new standard establishes a right-of-use model (“ROU”) that requires a lessee to recognize a ROU asset and lease liability on the balance sheet for all leases with a term longer than 12 months. Leases will be classified as finance or operating, with classification affecting the pattern and classification of expense recognition in the income statement. The new standard is effective on February 1, 2019. A modified retrospective transition approach is required, applying the new standard to all leases existing at the date of initial application. An entity may choose to use either (1) its effective date or (2) the beginning of the earliest comparative period presented in the financial statements as its date of initial application. If an entity chooses the second option, the transition requirements for existing leases also apply to leases entered into between the date of initial application and the effective date. The entity must also recast its comparative period financial statements and provide the disclosures required by the new standard for the comparative periods. The Company adopted the new standard on February 1, 2019 and used the effective date as the date of initial application. Consequently, financial information will not be updated and the disclosures required under the new standard will not be provided for dates and periods before February 1, 2019. The new standard provides a number of optional practical expedients in transition. The Company elects the ‘package of practical expedients’, which permits the Company not to reassess under the new standard prior conclusions about lease identification, lease classification and initial direct costs. On adoption, the Company recognized additional operating lease liabilities of approximately $2.5 million with corresponding ROU assets of the same amount based on the present value of the remaining minimum rental payments under the prior leasing standard for existing operating leases. In February 2018, the FASB issued ASU 2018-02, Income Statement – Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects From Accumulated Other Comprehensive Income,” which allows institutions to elect to reclassify the stranded tax effects from AOCI to retained earnings, limited only to amounts in AOCI that are affected by the tax reform law. For public entities, the amendments are effective for annual reporting periods beginning after December 15, 2018, including interim reporting periods within that reporting period. For all other entities, the amendments in this Update are effective for annual reporting periods beginning after December 15, 2019, including interim reporting periods within that reporting period. The Company has adopted this guidance, which had no material impact on its unaudited condensed consolidated financial statements and related disclosures. New Accounting Pronouncements Not Yet Adopted In January 2017, the FASB issued ASU No. 2017-04, Intangibles-Goodwill and Other (Topic 350), which includes provisions, intended to simplify the test for goodwill impairment. The standard is effective for annual periods beginning after December 15, 2019, with early adoption permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The Company does not expect the adoption of this standard to have a significant impact on its financial position and results of operations. No other recently issued accounting pronouncements had or are expected to have a material impact on the Company’s unaudited condensed consolidated financial statements.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Apr. 30, 2019
Accounting Policies [Abstract]
Disaggregation of revenue	Three Months Ended April 30, (in millions of dollars) 2019 2018 External Sales by region: USA $ 12.87 $ 12.35 Other foreign 0.78 0.84 Europe (UK) 2.39 2.57 Mexico 0.60 1.11 Asia 3.83 3.95 Canada 2.49 2.20 Latin America 1.72 1.32 Consolidated external sales $ 24.68 $ 24.34 Three Months Ended April 30, (in millions of dollars) 2019 2018 External Sales by product lines: Disposables $ 12.36 $ 13.08 Chemical 5.06 4.43 Fire 1.40 1.47 Gloves 0.75 0.79 Hi-Vis 2.12 1.72 Wovens 2.99 2.85 Consolidated external sales $ 24.68 $ 24.34

Inventories, net (Tables)

Inventories, net (Tables)	3 Months Ended
	Apr. 30, 2019
Inventory Disclosure [Abstract]
Schedule of inventory	April 30, 2019 January 31, 2019 Raw materials $ 18,070 $ 14,986 Work-in-process 1,694 987 Finished goods 26,997 26,392 $ 46,761 $ 42,365

Leases (Tables)

Leases (Tables)	3 Months Ended
	Apr. 30, 2019
Leases Tables Abstract
Condensed consolidated balance sheet	Leases (000’s) Classification April 30, 2019 Assets Operating lease assets Operating lease right-of-use assets $ 2,234 Liabilities Current Operating Current portion of operating lease liabilities 676 Noncurrent Operating Long-term portion of operating lease liabilities 1,559 Total Lease Obligations $ 2,235
Schedule of lease cost	Classification Three Months Ended April 30, 2019 Operating lease cost Cost of goods sold $ 145 Operating expenses $ 119 Short-term lease cost $ 36
Maturities of operating lease liabilities	Year ending January 31, Operating Leases (a) Remainder of fiscal year 2020 $ 675 2021 697 2022 567 2023 486 2024 14 Thereafter 81 Total lease payments $ 2,520 Less: Interest 286 Present value of lease liability $ 2,235
Weighted-average lease terms and discount rates	Weighted-average lease terms and discount rates are as follows: Weighted-average remaining lease term (years) April 30, 2019 Operating leases 3.4 Weighted-average discount rate Operating leases 6.0 % Supplemental cash flow information related to leases for the three months ended April 30, 2019 were as follows (in 000’s): Cash paid for amounts included in the measurement of lease liabilities; Three Months Ended April 30, 2019 Operating cash flows from operating leases $ 264 Leased assets obtained in exchange for new operating lease liabilities $ 2,486
Rent costs	Year ended January 31, Gross rental 2019 $ 1,022,162 2018 $ 841,235
Minimum annual rental commitments	Year ending January 31, 2020 761,350 2021 446,494 2022 435,310 2023 313,633 2024 8,418 and thereafter 8,944 Total $ 1,974,149

Long-Term Debt (Tables)

Long-Term Debt (Tables)	3 Months Ended
	Apr. 30, 2019
Debt Disclosure [Abstract]
Schedule of long-term debt	Short-Term Long-term Current Maturity of Long-term April 30, January 31, April 30, January 31, April 30, January 31, 2019 2019 2019 2019 2019 2019 USA $ ----- $ ----- $ 1,121 $ 1,161 $ 158 $ 158 UK 160 ----- ----- ----- ----- ----- Totals $ 160 $ ----- $ 1,121 $ 1,161 $ 158 $ 158
Schedule of long-term debt maturities	Total 1 Year or less 2 Years 3 Years 4 Years 5 Years After 5 Years Borrowings in USA $ 1,279 $ 158 $ 1,121 $ ----- $ ----- $ ----- $ ----- Borrowing in the UK 160 160 ----- ----- ----- ----- ----- Total $ 1,439 $ 318 $ 1,121 $ ----- $ ----- $ ----- $ -----

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	3 Months Ended
	Apr. 30, 2019
Equity [Abstract]
Schedule of nonvested share activity	Number of shares awarded total Minimum Target Maximum Cap Employees 42,061 63,095 84,126 101,001 Non-employee Directors 14,414 21,622 28,829 34,595 Total 56,475 84,717 112,955 135,596 Value at grant date (numbers below are rounded to the nearest $100) Minimum Target Maximum Cap Employees $ 583,600 $ 875,400 $ 1,167,200 $ 1,401,300 Non-employee Directors 200,000 300,000 400,000 480,000 Total $ 783,600 $ 1,175,400 $ 1,567,200 $ 1,881,300
Schedule of share-based compensation	Three Months Ended April 30, 2019 2018 2017 Plan $ 201,829 $ 121,153 Stock appreciation rights (2017 Plan) (121 ) (1,913 ) Total stock-based compensation $ 201,708 $ 119,240
Schedule of restricted stock units award activity	Shares issued under 2017 Stock Plan Outstanding Unvested Grants at Maximum at Beginning of FY20 Granted during FY20 Becoming Vested during FY20 Forfeited during FY20 Outstanding Unvested Grants at Maximum at End of April 30, 2019 Restricted stock grants – employees 84,126 ----- ----- ----- 84,126 Restricted stock grants – non-employee directors 28,829 ----- ----- ----- 28,829 Retainer in stock – non-employee directors 25,044 3,341 ----- ----- 28,385 Total restricted stock 137,999 3,341 ----- ----- 141,340 Weighted average grant date fair value $ 13.77 $ 12.69 $ ----- $ ----- $ 13.75

Earnings (Loss) Per Share (Tabl

Earnings (Loss) Per Share (Tables)	3 Months Ended
	Apr. 30, 2019
Net income (loss) per common share:
Schedule of earnings (loss) per share	Three Months Ended April 30, (in $000s except share and per share information) 2019 2018 Numerator: Net income (loss) $ (465 ) $ 1,867 Denominator: Denominator for basic earnings (loss) per share (weighted-average shares which reflect shares in the treasury, 462,089 and 356,441 for April 30, 2019 and 2018, respectively) 8,013,840 8,116,199 Effect of dilutive securities from restricted stock plan and from dilutive effect of warrants ----- 44,181 Denominator for diluted earnings (loss) per share (adjusted weighted average shares) 8,013,840 8,160,380 Basic earnings (loss) per share $ (0.06 ) $ 0.23 Diluted earnings (loss) per share $ (0.06 ) $ 0.23 Warrants and restricted stock awards excluded from the computation of diluted loss per share because the effect of inclusion would have been anti-dilutive. 196,340 -----

Segment Reporting (Tables)

Segment Reporting (Tables)	3 Months Ended
	Apr. 30, 2019
Segment Reporting [Abstract]
Schedule of geographic revenue	Three Months Ended April 30, 2019 2018 Domestic $ 12.87 52.12 % $ 12.35 50.75 % International 11.81 47.88 % 11.99 49.25 % Total $ 24.68 100.00 % $ 24.34 100.00 %
Segment information	Three Months Ended April 30, (in millions of dollars) 2019 2018 Net Sales: USA $ 13.90 $ 13.31 Other foreign 1.36 1.49 Europe (UK) 2.39 2.57 Mexico 0.90 1.47 Asia 13.18 13.83 Canada 2.50 2.21 Latin America 1.74 1.42 Corporate ----- 0.36 Less intersegment sales (11.29 ) (12.32 ) Consolidated sales $ 24.68 $ 24.34 External Sales: USA $ 12.87 $ 12.35 Other foreign 0.78 0.84 Europe (UK) 2.39 2.57 Mexico 0.60 1.11 Asia 3.83 3.95 Canada 2.49 2.19 Latin America 1.72 1.33 Consolidated external sales $ 24.68 $ 24.34 Intersegment Sales: USA $ 1.03 $ 0.96 Other foreign 0.58 0.65 Mexico 0.30 0.36 Asia 9.35 9.88 Canada 0.01 0.02 Latin America 0.02 0.09 Corporate ----- 0.36 Consolidated intersegment sales $ 11.29 $ 12.32 Three Months Ended April 30, (in millions of dollars) 2019 2018 Operating Profit (Loss): USA $ 0.82 $ 2.63 Other foreign 0.14 0.06 Europe (UK) 0.01 0.09 Mexico (0.18 ) 0.13 Asia 0.23 0.58 Canada 0.25 0.37 Latin America 0.24 0.14 Corporate (1.94 ) (1.79 ) Less intersegment profit 0.11 0.21 Consolidated operating profit (loss) $ (0.32 ) $ 2.42 Depreciation and Amortization Expense: USA $ 0.13 $ 0.03 Other foreign (0.01 ) 0.01 Europe (UK) ----- ----- Mexico 0.04 0.03 Asia 0.14 0.05 Canada ----- 0.02 Latin America 0.01 0.01 Corporate 0.08 0.05 Less intersegment (0.01 ) (0.01 ) Consolidated depreciation & amortization expense $ 0.38 $ 0.19 Interest Expense: Latin America $ 0.02 $ 0.02 Corporate 0.01 0.01 Consolidated interest expense $ 0.03 $ 0.03 Income Tax Expense: Europe (UK) $ ----- $ 0.02 Asia 0.15 0.16 Canada 0.04 0.08 Latin America 0.01 0.01 Corporate (0.13 ) 0.19 Less intersegment 0.02 0.06 Consolidated income tax expense $ 0.09 $ 0.52 Capital Expenditures: USA (including Corporate) $ 0.06 $ (0.03 ) Other foreign ----- 0.04 Mexico 0.06 0.08 Asia 0.04 0.18 Consolidated capital expenditure $ 0.17 $ 0.27 April 30, 2019 (in millions of dollars) January 31, 2019 (in millions of dollars) Total Assets: * USA Operations $ 68.71 $ 67.26 Other foreign 1.68 1.54 Europe (UK) 4.49 4.37 Mexico 4.99 5.00 Asia 41.09 39.52 Canada 7.20 7.47 Latin America 7.12 7.42 Corporate 24.02 25.07 Less intersegment (57.73 ) (62.93 ) Consolidated assets $ 101.57 $ 94.72 Total Assets Less Intersegment:* USA Operations $ 31.04 $ 29.76 Other foreign 3.13 2.85 Europe (UK) 4.49 4.36 Mexico 4.95 5.13 Asia 26.49 20.97 Canada 6.38 6.64 Latin America 5.35 5.27 Corporate 19.74 19.74 Consolidated assets $ 101.57 $ 94.72 Property and Equipment USA (including Corporate) $ 3.74 $ 3.87 Other foreign 0.20 0.19 Europe (UK) 0.01 0.01 Mexico 2.15 2.14 Asia 3.10 3.17 Canada 1.26 1.26 Latin America 0.06 0.07 Less intersegment 0.07 0.07 Consolidated long-lived assets $ 10.59 $ 10.78 Goodwill: USA Operations $ 0.87 $ 0.87 Consolidated goodwill $ 0.87 $ 0.87 *Negative assets reflect intersegment amounts eliminated in consolidation

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2019	Apr. 30, 2018
Net sales	$ 24,684	$ 24,344
Disposables
Net sales	12,360	13,080
Chemical
Net sales	5,060	4,430
Fire
Net sales	1,400	1,470
Gloves
Net sales	750	790
Hi-Vis
Net sales	2,120	1,720
Wovens
Net sales	2,990	2,850
USA
Net sales	12,870	12,350
Other Foreign
Net sales	780	840
Europe (UK)
Net sales	2,390	2,570
Mexico
Net sales	600	1,110
Asia
Net sales	3,830	3,950
Canada
Net sales	2,490	2,200
Latin America
Net sales	$ 1,720	$ 1,320

Summary of Significant Accoun_5

Summary of Significant Accounting Policies (Details Narrative) - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2019	Apr. 30, 2018
Accounting Policies [Abstract]
Shipping and handling costs	$ 800	$ 600
Foreign currency transaction losses	$ 100	$ (200)

Inventories, net (Details)

Inventories, net (Details) - USD ($) $ in Thousands	Apr. 30, 2019	Jan. 31, 2019
Inventory Disclosure [Abstract]
Raw materials	$ 18,070	$ 14,986
Work-in-process	1,694	987
Finished goods	26,997	26,392
Inventories, net	$ 46,761	$ 42,365

Leases (Details)

Leases (Details) - USD ($) $ in Thousands	Apr. 30, 2019	Jan. 31, 2019
Leases Details Abstract
Operating lease assets	$ 2,234	$ 0
Current operating lease liabilities	676	0
Noncurrent operating lease liabilities	1,559	$ 0
Total Lease Obligations	$ 2,235

Leases (Details 1)

Leases (Details 1) $ in Thousands	3 Months Ended
	Apr. 30, 2019USD ($)
Leases Details 1Abstract
Operating lease cost, Cost of goods sold	$ 145
Operating lease cost, Operating expenses	119
Short-term lease cost	$ 36,343

Leases (Details 2)

Leases (Details 2) $ in Thousands	Apr. 30, 2019USD ($)
Leases Details 2Abstract
Remainder of fiscal year 2020	$ 675
2021	697
2022	567
2023	486
2024	14
Thereafter	81
Total lease payments	2,520
Less: Interest	286
Present value of lease liability	$ 2,235

Leases (Details 3)

Leases (Details 3) - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2019	Apr. 30, 2018
Leases Details 3Abstract
Weighted-average remaining lease term (years) operating leases	3 years 4 months 24 days
Weighted-average discount rate operating leases	6.00%
Operating cash flows from operating leases	$ 264
Leased assets obtained in exchange for new operating lease liabilities	$ 2,486	$ 0

Leases (Details 4)

Leases (Details 4) - USD ($)	12 Months Ended
	Jan. 31, 2019	Jan. 31, 2018
Leases Details 4Abstract
Rental cost	$ 1,022,162	$ 841,235

Leases (Details 5)

Leases (Details 5) $ in Thousands	Apr. 30, 2019USD ($)
Leases Details 5Abstract
2020	$ 761,350
2021	446,494
2022	435,310
2023	313,633
2024	8,418
and thereafter	8,944
Total	$ 1,974,149

Long-Term Debt (Details)

Long-Term Debt (Details) - USD ($) $ in Thousands	Apr. 30, 2019	Jan. 31, 2019
Short-term debt	$ 160	$ 0
Long-term debt, excluding current maturities	1,121	1,161
Long-term debt, current maturities	158	158
UK
Short-term debt	0	0
Long-term debt, excluding current maturities	1,121	1,161
Long-term debt, current maturities	158	158
USA
Short-term debt	160	0
Long-term debt, excluding current maturities	0	0
Long-term debt, current maturities	$ 0	$ 0

Long-Term Debt (Details 1)

Long-Term Debt (Details 1) $ in Thousands	Apr. 30, 2019USD ($)
1 Year or less	$ 318
2 Years	1,121
3 Years	0
4 Years	0
5 Years	0
After 5 Years	0
Total	1,439
USA
1 Year or less	158
2 Years	1,121
3 Years	0
4 Years	0
5 Years	0
After 5 Years	0
Total	1,279
UK
1 Year or less	160
2 Years	0
3 Years	0
4 Years	0
5 Years	0
After 5 Years	0
Total	$ 160

Stockholders' Equity (Details)

Stockholders' Equity (Details)	12 Months Ended
	Jan. 31, 2019USD ($)shares
Minimum
Number of shares awarded total | shares	56,475
Value at grant date | $	$ 783,600
Target
Number of shares awarded total | shares	84,717
Value at grant date | $	$ 1,175,400
Maximum
Number of shares awarded total | shares	112,955
Value at grant date | $	$ 1,567,200
Cap
Number of shares awarded total | shares	135,596
Value at grant date | $	$ 1,881,300
Employees | Minimum
Number of shares awarded total | shares	42,061
Value at grant date | $	$ 583,600
Employees | Target
Number of shares awarded total | shares	63,095
Value at grant date | $	$ 875,400
Employees | Maximum
Number of shares awarded total | shares	84,126
Value at grant date | $	$ 1,167,200
Employees | Cap
Number of shares awarded total | shares	101,001
Value at grant date | $	$ 1,401,300
Non Employee Directors | Minimum
Number of shares awarded total | shares	14,414
Value at grant date | $	$ 200,000
Non Employee Directors | Target
Number of shares awarded total | shares	21,622
Value at grant date | $	$ 300,000
Non Employee Directors | Maximum
Number of shares awarded total | shares	28,829
Value at grant date | $	$ 400,000
Non Employee Directors | Cap
Number of shares awarded total | shares	34,595
Value at grant date | $	$ 480,000

Stockholders' Equity (Details 1

Stockholders' Equity (Details 1) - USD ($)	3 Months Ended
	Apr. 30, 2019	Apr. 30, 2018
Total stock-based compensation	$ 201,708	$ 119,240
2017 Plan
Total stock-based compensation	201,829	121,153
Stock appreciation rights (2017 Plan)
Total stock-based compensation	$ (121)	$ (1,913)

Stockholders' Equity (Details 2

Stockholders' Equity (Details 2)	3 Months Ended
	Apr. 30, 2019$ / sharesshares
Restricted stock, outstanding, beginning	137,999
Restricted stock, granted	3,341
Restricted stock, vested	0
Restricted stock, forfeited	0
Restricted stock, outstanding, ending	141,340
Weighted average grant date fair value, outstanding, beginning | $ / shares	$ 13.77
Weighted average grant date fair value, granted | $ / shares	12.69
Weighted average grant date fair value, vested | $ / shares	0
Weighted average grant date fair value, forfeited | $ / shares	0
Weighted average grant date fair value, outstanding, ending | $ / shares	$ 13.75
Restricted stock grants - employees
Restricted stock, outstanding, beginning	84,126
Restricted stock, granted	0
Restricted stock, vested	0
Restricted stock, forfeited	0
Restricted stock, outstanding, ending	84,126
Restricted stock grants - non-employee directors
Restricted stock, outstanding, beginning	28,829
Restricted stock, granted	0
Restricted stock, vested	0
Restricted stock, forfeited	0
Restricted stock, outstanding, ending	28,829
Retainer in stock - non-employee directors
Restricted stock, outstanding, beginning	25,044
Restricted stock, granted	3,341
Restricted stock, vested	0
Restricted stock, forfeited	0
Restricted stock, outstanding, ending	28,385

Income Taxes (Details Narrative

Income Taxes (Details Narrative) - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2019	Jan. 31, 2019
Income Tax Disclosure [Abstract]
Deferred tax assets, valuation allowance	$ 1,300	$ 1,300
Federal corporate income tax rate	21.00%

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Apr. 30, 2019	Apr. 30, 2018
Numerator:
Net income (loss)	$ (465)	$ 1,867
Denominator:
Denominator for basic earnings per share (weighted-average shares which reflect 356,441 shares in the treasury)	8,013,840	8,116,199
Effect of dilutive securities from restricted stock plan and from dilutive effect of stock options	0	44,181
Denominator for diluted earnings per share (adjusted weighted average shares)	8,013,840	8,160,380
Basic earnings per share	$ (0.06)	$ 0.23
Diluted earnings per share	$ (0.06)	$ 0.23
Warrants and restricted stock awards excluded from the computation of diluted loss per share because the effect of inclusion would have been anti-dilutive	196,340	0

Contingencies (Details Narrativ

Contingencies (Details Narrative) - USD ($) $ in Thousands	Apr. 30, 2019	Jan. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Loss contingency accrual	$ 1,100	$ 1,200

Segment Reporting (Details)

Segment Reporting (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2019	Apr. 30, 2018
Net sales	$ 24,684	$ 24,344
Sales revenue, percentage	100.00%	100.00%
Domestic
Net sales	$ 12,870	$ 12,350
Sales revenue, percentage	52.12%	50.75%
International
Net sales	$ 11,810	$ 11,990
Sales revenue, percentage	47.88%	49.25%

Segment Reporting (Details 1)

Segment Reporting (Details 1) - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2019	Apr. 30, 2018	Jan. 31, 2019
Net sales	$ 24,680	$ 24,340
External sales	24,680	24,340
Intersegment sales	11,290	12,320
Operating profit (loss)	(315)	2,416
Depreciation and amortization expense	383	187
Interest expense	34	31
Income tax expense	89	517
Capital expenditures	170	270
Total assets	101,565		$ 94,723
Total assets less intersegment	101,570		94,720
Property and equipment	10,596		10,781
Goodwill	871		871
USA
Net sales	13,900	13,310
External sales	12,870	12,350
Intersegment sales	1,030	960
Operating profit (loss)	820	2,630
Depreciation and amortization expense	130	30
Capital expenditures	60	(30)
Total assets	68,710		67,260
Total assets less intersegment	31,040		29,760
Property and equipment	3,740		870
Goodwill	870		870
Other Foreign
Net sales	1,360	1,490
External sales	780	840
Intersegment sales	580	650
Operating profit (loss)	140	60
Depreciation and amortization expense	(10)	10
Capital expenditures	0	40
Total assets	1,680		1,540
Total assets less intersegment	3,130		2,850
Property and equipment	200		190
Europe (UK)
Net sales	2,390	2,570
External sales	2,390	2,570
Operating profit (loss)	10	90
Depreciation and amortization expense	0	0
Income tax expense	0	20
Total assets	4,490		4,370
Total assets less intersegment	4,490		4,360
Property and equipment	10		10
Mexico
Net sales	900	1,470
External sales	600	1,110
Intersegment sales	300	360
Operating profit (loss)	(180)	130
Depreciation and amortization expense	40	30
Capital expenditures	60	80
Total assets	4,990		5,000
Total assets less intersegment	4,950		5,130
Property and equipment	2,150		2,140
Asia
Net sales	13,180	13,830
External sales	3,830	3,950
Intersegment sales	9,350	9,880
Operating profit (loss)	230	580
Depreciation and amortization expense	140	50
Income tax expense	150	160
Capital expenditures	40	180
Total assets	41,090		39,520
Total assets less intersegment	26,490		20,970
Property and equipment	3,100		3,170
Canada
Net sales	2,500	2,210
External sales	2,490	2,190
Intersegment sales	10	20
Operating profit (loss)	250	370
Depreciation and amortization expense	0	20
Income tax expense	40	80
Total assets	7,200		7,470
Total assets less intersegment	6,380		6,640
Property and equipment	1,260		1,260
Latin America
Net sales	1,740	1,420
External sales	1,720	1,330
Intersegment sales	20	90
Operating profit (loss)	240	140
Depreciation and amortization expense	10	10
Interest expense	20	20
Income tax expense	10	10
Total assets	7,120		7,420
Total assets less intersegment	5,350		5,270
Property and equipment	60		70
Corporate
Net sales	0	360
Intersegment sales	0	360
Operating profit (loss)	(1,940)	(1,790)
Depreciation and amortization expense	80	50
Interest expense	10	10
Income tax expense	(130)	190
Total assets	24,020		25,070
Total assets less intersegment	19,740		19,740
Intersegment
Net sales	(11,290)	(12,320)
Operating profit (loss)	110	210
Depreciation and amortization expense	(10)	(10)
Income tax expense	20	$ 60
Total assets	(57,730)		(62,930)
Property and equipment	$ 70		$ 70