Exhibit 99.1

   

Alpha Pro Tech

L T D.

 

ALPHA PRO TECH, LTD. ANNOUNCES FINANCIAL RESULTS FOR THE SECOND QUARTER

 

 

 

FOR IMMEDIATE RELEASE

 

Company Contact:

Alpha Pro Tech, Ltd.

Al Millar/Donna Millar

905-479-0654

e-mail: ir@alphaprotech.com

Investor Relations Contact:

Hayden IR

Cameron Donahue

651-653-1854

e-mail: cameron@haydenir.com

 

Gross margin for the second quarter of 2017 increased to 39.8%, up from 35.7% in the second quarter of 2016.

 

Net income for the second quarter of 2017 increased 0.9% to $804,000, or $0.05 per diluted share, compared to $797,000, or $0.05 per diluted share, for the same period of 2016.

 

The Company’s Board of Directors authorized a $2.0 million expansion of its existing share repurchase program.

 

Nogales, Arizona – August 2, 2017 – Alpha

Pro Tech, Ltd. (NYSE American: 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 three and six month periods ended June 30, 2017.

 

Lloyd Hoffman, CEO of Alpha Pro Tech, commented, “Our gross margin and net income increased year-over-year as a result of our continued efforts to optimize our cost structure and synchronize inventory levels with anticipated demand. The prudent management of our costs and generation of solid cash from operating activities together enable us to return value to our shareholders through share repurchases, while simultaneously introducing a new, innovative product line to the Company’s housewrap family of products. This new product offering, which we expect to roll out in the third quarter of this year, will compete in a segment of the housewrap market that is currently untapped for us, and we expect that it will provide us with growth opportunities for this segment.”

 

“As previously announced, our board of directors authorized a $2.0 million expansion of our existing share repurchase program as part of our continuing commitment to our shareholders,” said Hoffman. “Our board of directors and management team believe that the Company’s shares are an attractive investment opportunity and that the repurchase of our common stock is an important part of our capital allocation strategy.”

 

Net sales

 

Consolidated sales for the second quarter of 2017 were $11.3 million, compared to $12.7 million for the second quarter of 2016. This decrease consisted of decreased sales in the Building Supply segment of $1.6 million, partially offset by increased sales in the Disposable Protective Apparel segment of $150,000 and increased sales in the Infection Control segment of $65,000.

 

Building Supply segment sales for the three months ended June 30, 2017 decreased by 20.7% to $6.3 million, compared to $7.9 million for the same period of 2016. The sales mix of the Building Supply segment for the three months ended June 30, 2017 was 51% for synthetic roof underlayment, 40% for housewrap and 9% for other woven material. This compared to 63% for synthetic roof underlayment, 32% for housewrap and 5% for other woven material for the second quarter of 2016. As previously mentioned, management expects the Building Supply segment to experience growth in the latter half of 2017 following the introduction of a new, innovative and exciting product line to the Company’s housewrap family of products.

 

 
 

The following information was filed by Alpha Pro Tech Ltd (APT) on Wednesday, August 2, 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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