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Alpha Pro Tech Ltd (APT) SEC Filing 10-K Annual report for the fiscal year ending Saturday, December 31, 2016

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, 2016

 

Net income triples for 2016

 

 

FOR IMMEDIATE RELEASE

 

Company Contact:

Investor Relations Contact:

Alpha Pro Tech, Ltd.

Hayden IR

Al Millar/Donna Millar 

905-479-0654 

e-mail: ir@alphaprotech.com

Cameron Donahue

651-653-1854  

e-mail: cameron@haydenir.com

 

Net income for the full year 2016 increased 204% to $3.2 million, or $0.19 per diluted share, compared to $1.0 million, or $0.06 per diluted share, for 2015

 

Gross margin for the full year 2016 increased to 36.8%, up from 35.5% for 2015

 

Repurchased and retired 2.5 million shares of common stock at a cost of $6.8 million

 

 

Nogales, Arizona – March 7, 2017 – 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, 2016.

 

Lloyd Hoffman, Chief Executive Officer of Alpha Pro Tech, commented, “We significantly increased overall profitability on higher sales in our Building Supply and Infection Control segments in 2016, while navigating periods of increased competition in the roofing market and softness in the market for our Disposable Protective Apparel segment products. We are optimistic about opportunities in 2017 given recent forecasts for steady economic growth and a rise in homebuilder confidence in 2016.”

 

“In 2016, we further improved efficiencies in our operations to reduce inventory levels by more than 30% and reduced days of sales outstanding, which allowed us to optimize our capital deployment strategy to serve our shareholders,” said Hoffman. “As a result, and as authorized by the board, we executed open market trades to repurchase and retire approximately 2.5 million shares of our common stock during the year.”

 

 
 

The following information was filed by Alpha Pro Tech Ltd (APT) on Tuesday, March 7, 2017 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 18 - 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 1 - The Company
Note 10 - Shareholders' Equity
Note 10 - Shareholders' Equity (details Textual)
Note 10 - Shareholders' Equity (tables)
Note 10 - Shareholders' Equity - Information About Stock Options (details)
Note 10 - Shareholders' Equity - Stock Option Activity (details)
Note 10 - Shareholders' Equity - Stock Option Valuation Assumptions (details)
Note 11 - Income Taxes
Note 11 - Income Taxes (details Textual)
Note 11 - Income Taxes (tables)
Note 11 - Income Taxes - Deferred Income Tax Assets (details)
Note 11 - Income Taxes - Income Tax Reconciliation (details)
Note 11 - Income Taxes - Income Tax Reconciliation (details) (parentheticals)
Note 11 - Income Taxes - Provision For Income Taxes (details)
Note 11 - Income Taxes - Unrecognized Tax Benefits (details)
Note 12 - Commitments And Contingencies
Note 12 - Commitments And Contingencies (details Textual)
Note 12 - Commitments And Contingencies (tables)
Note 12 - Commitments And Contingencies - Future Minimum Lease Payments Required Under Non-cancelable Operating Lease (details)
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 14 - Activity Of Business Segments - Consolidated Net Property And Equipment, Goodwill And Intangible Assets (details)
Note 14 - Activity Of Business Segments - Consolidated Net Sales (details)
Note 14 - Activity Of Business Segments - Consolidated Net Sales And Long-lived Asset Information By Geographic Area (details)
Note 14 - Activity Of Business Segments - Reconciliation Of Total Segment Income To Total Consolidated Net Income (details)
Note 15 - Concentration Of Risk
Note 15 - Concentration Of Risk (details Textual)
Note 15 - Concentration Of Risk (tables)
Note 15 - Concentration Of Risk - Customer Concentration (details)
Note 16 - Employment Agreements
Note 16 - Employment Agreements (details Textual)
Note 17 - Related Party Transactions
Note 17 - Related Party Transactions (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 2 - Summary Of Significant Accounting Policies - Fair Value Of Financial Assets (details)
Note 2 - Summary Of Significant Accounting Policies - Property And Equipment (details)
Note 2 - Summary Of Significant Accounting Policies - Reconciliation Of Net Income And Number Of Shares Used In Computations Of Basic And Diluted Eps (details)
Note 3 - Investments
Note 3 - Investments (details Textual)
Note 3 - Investments (tables)
Note 3 - Investments - Available-for-sale Marketable Securities (details)
Note 4 - Inventories
Note 4 - Inventories (tables)
Note 4 - Inventories - Inventories (details)
Note 5 - Property And Equipment
Note 5 - Property And Equipment (details Textual)
Note 5 - Property And Equipment (tables)
Note 5 - Property And Equipment - Property And Equipment (details)
Note 6 - Goodwill And Intangible Assets
Note 6 - Goodwill And Intangible Assets (details Textual)
Note 6 - Goodwill And Intangible Assets (tables)
Note 6 - Goodwill And Intangible Assets - Definite-lived Intangible Assets (details)
Note 6 - Goodwill And Intangible Assets - Estimated Future Amortization Expense Related To Definite-lived Intangible Assets (details)
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 8 - Accrued Liabilities - Accrued Liabilities (details)
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: 0001437749-17-004000
Submitted to the SEC: Wed Mar 08 2017 10:35:01 AM EST
Accepted by the SEC: Wed Mar 08 2017
Period: Saturday, December 31, 2016
Industry: Orthopedic Prosthetic And Surgical Appliances And Supplies

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