What happened Shares of Lakeland Industries (NASDAQ: LAKE) dropped as much as 14.1% in trading on Thursday after the company reported fiscal first-quarter 2022 results. The stock closed the day down 12.6%. So what Net sales for the quarter were $34.1 million, down sharply from $45.6 million a year ago and $36.9 million in the fourth quarter of fiscal 2021. Management said that demand for personal protective equipment (PPE) was down as the worst of the pandemic subsided and customers experienced higher inventory levels. Image source: Getty Images. Net income fell from $8.6 million a year ago to $4.6 million, or $0.57 per share. If the current end-user demand remains weak, it's likely the rest of the year will be fairly weak, too, and that's why the stock is trading so much lower. Now what As many companies start to see demand pick up while the pandemic subsides, Lakeland Industries is one company that will see its business slow. That's the nature of PPE right now, but it's encouraging that the company is still making a profit given the drop in demand. Down days like today are a reminder of why a balanced portfolio is important so investors aren't hurt too badly if one business takes a negative turn. 10 stocks we like better than Lakeland IndustriesWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Lakeland Industries wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of June 7, 2021 Travis Hoium has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.Source