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Alpha Pro Tech Ltd (APT) SEC Filing 10-K Annual report for the fiscal year ending Thursday, December 31, 2015

Alpha Pro Tech Ltd

CIK: 884269 Ticker: APT

Exhibit 99.1

 

Alpha Pro Tech

L T D.                             

 

 

 

 

Alpha Pro Tech, Ltd. Announces Financial Results for the Fourth Quarter and Year Ended December 31, 2015

 

Fourth Quarter Net Sales of $10.0 Million and 2015 Net Sales of $45.0 million

 

 

 

FOR IMMEDIATE RELEASE

 

 Company Contact:  

Investor Relations Contact:

Alpha Pro Tech, Ltd.         

Hayden IR

Al Millar/Donna Millar  Cameron Donahue
905-479-0654           651-653-1854
e-mail: ir@alphaprotech.com                          e-mail: cameron@haydenir.com

 

 

 

Nogales, Arizona – March 2, 2016 – Alpha Pro Tech, Ltd.

(NYSE MKT: APT), a leading manufacturer of products designed to protect people, products and environments, including disposable protective apparel and building products, today announced financial results for the fourth quarter and year ended December 31, 2015.

 

Consolidated sales for the fourth quarter of 2015 decreased 18.0% to $10.0 million from $12.2 million for the comparable quarter of 2014. Building Supply segment sales for the fourth quarter of 2015 decreased by 9.7% to $5.5 million, compared to $6.1 million for the same period of 2014. The sales mix of the Building Supply segment for the fourth quarter of 2015 was 63% for synthetic roof underlayment, 35% for housewrap and 2% for other woven material. This compared to 61% for synthetic roof underlayment, 35% for housewrap and 4% for other woven material for the fourth quarter of 2014. Sales for the Disposable Protective Apparel segment for the fourth quarter of 2015 decreased 14.1% to $3.5 million, compared to $4.1 million for the same period of 2014. The decrease was primarily due to decreased sales to our major international supply chain partner, as well as sales in the fourth quarter of 2014 resulting from the Ebola outbreak, partially offset by increased sales to our regional and national distributors. Infection Control segment sales for the fourth quarter of 2015 decreased by 49.5%, or $1.0 million, to $1.1 million, compared to $2.1 million for the same period of 2014, also due to the increase in sales resulting from the Ebola outbreak in the fourth quarter of 2014.

 

Consolidated sales for the year ended December 31, 2015 decreased by 5.7%, or $2.6 million, to $45.0 million from $47.6 million for the year ended December 31, 2014. This decrease consisted of decreased sales in the Building Supply segment of $1.7 million, decreased sales of $9,000 in the Disposable Protective Apparel segment and decreased sales of $936,000 in the Infection Control segment.

 

 
 

The following information was filed by Alpha Pro Tech Ltd (APT) on Wednesday, March 2, 2016 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Note 17 - Subsequent Events
Consolidated Balance Sheets
Consolidated Balance Sheets (parentheticals)
Consolidated Statement Of Shareholders' Equity
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income (loss)
Consolidated Statements Of Income
Note 10 - Information About Stock Options (details)
Note 10 - Stock Option Activity (details)
Note 10 - Stock Option Valuation Assumptions (details)
Note 11 - Deferred Income Tax Assets (details)
Note 11 - Income Tax Reconciliation (details)
Note 11 - Income Tax Reconciliation (details) (parentheticals)
Note 11 - Provision For Income Taxes (details)
Note 11 - Unrecognized Tax Benefits (details)
Note 12 - Future Minimum Lease Payments Required Under Non-cancelable Operating Lease (details)
Note 14 - Consolidated Net Property And Equipment, Goodwill And Intangible Assets (details)
Note 14 - Consolidated Net Sales (details)
Note 14 - Consolidated Net Sales And Long-lived Asset Information By Geographic Area (details)
Note 14 - Reconciliation Of Total Segment Income To Total Consolidated Net Income (details)
Note 15 - Customer Concentration (details)
Note 2 - Fair Value Of Financial Assets (details)
Note 2 - Property And Equipment (details)
Note 2 - Reconciliation Of Net Income And Number Of Shares Used In Computations Of Basic And Diluted Eps (details)
Note 3 - Available-for-sale Marketable Securities (details)
Note 3 - Investment In Common Stock Warrants (details)
Note 4 - Inventories (details)
Note 5 - Property And Equipment (details)
Note 6 - Definite-lived Intangible Assets (details)
Note 6 - Estimated Future Amortization Expense Related To Definite-lived Intangible Assets (details)
Note 8 - Accrued Liabilities (details)
Note 1 - The Company
Note 10 - Shareholders' Equity
Note 10 - Shareholders' Equity (details Textual)
Note 10 - Shareholders' Equity (tables)
Note 11 - Income Taxes
Note 11 - Income Taxes (details Textual)
Note 11 - Income Taxes (tables)
Note 12 - Operating Lease Commitments
Note 12 - Operating Lease Commitments (details Textual)
Note 12 - Operating Lease Commitments (tables)
Note 13 - Employee Benefit Plans
Note 13 - Employee Benefit Plans (details Textual)
Note 14 - Activity Of Business Segments
Note 14 - Activity Of Business Segments (details Textual)
Note 14 - Activity Of Business Segments (tables)
Note 15 - Concentration Of Risk
Note 15 - Concentration Of Risk (details Textual)
Note 15 - Concentration Of Risk (tables)
Note 16 - Employment Agreements
Note 16 - Employment Agreements (details Textual)
Note 2 - Summary Of Significant Accounting Policies
Note 2 - Summary Of Significant Accounting Policies (details Textual)
Note 2 - Summary Of Significant Accounting Policies (tables)
Note 3 - Investments
Note 3 - Investments (details Textual)
Note 3 - Investments (tables)
Note 4 - Inventories
Note 4 - Inventories (tables)
Note 5 - Property And Equipment
Note 5 - Property And Equipment (details Textual)
Note 5 - Property And Equipment (tables)
Note 6 - Goodwill And Intangible Assets
Note 6 - Goodwill And Intangible Assets (details Textual)
Note 6 - Goodwill And Intangible Assets (tables)
Note 7 - Equity Investments In Unconsolidated Affiliate
Note 7 - Equity Investments In Unconsolidated Affiliate (details Textual)
Note 8 - Accrued Liabilities
Note 8 - Accrued Liabilities (tables)
Note 9 - Notes Payable
Note 9 - Notes Payable (details Textual)
Significant Accounting Policies (policies)
Ticker: APT
CIK: 884269
Form Type: 10-K Annual Report
Accession Number: 0001437749-16-026648
Submitted to the SEC: Thu Mar 03 2016 12:09:28 PM EST
Accepted by the SEC: Thu Mar 03 2016
Period: Thursday, December 31, 2015
Industry: Orthopedic Prosthetic And Surgical Appliances And Supplies

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