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Alpha Pro Tech Ltd (APT) SEC Filing 10-Q Quarterly report for the period ending Saturday, September 30, 2017

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 THIRD QUARTER

 

 

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

 

Revenue for the third quarter of 2017 increased 2.3% to $12.0 million, compared to $11.8 million in the third quarter of 2016

 

Gross margin for the third quarter of 2017 increased to 39.1%, up from 38.3% in the third quarter of 2016

 

Net income for the third quarter of 2017 increased 8.2% to $1.1 million, or $0.07 per diluted share, compared to $1.0 million, or $0.06 per diluted share, for the same period of 2016

 

Signed exclusive contract with JX Nippon ANCI, Inc. to launch a new product line, REX™ Wrap Fortis House Wraps with JX ALTA 360° Drainage Technology™

 

 

Nogales, Arizona – November 8, 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 nine month periods ended September 30, 2017.

 

Lloyd Hoffman, CEO of Alpha Pro Tech, commented, “The third quarter financial results were punctuated by continued strength in gross margin and net income. We continue our ongoing efforts to optimize our cost structure and diligently manage inventory levels across all segments of our business. The consistent generation of net income and relatively low need for capital continues to drive free cash flow that allows us to invest in the business and introduce new products while also returning value to our shareholders through a sizeable share repurchase program.”

 

“The new house wrap line that we launched during the third quarter provides us with a substantial opportunity in a segment of the market that we have not yet tapped into, significantly expanding our market prospects in the Building Supply segment,” added Hoffman. “Initial response to the REX™ Wrap Fortis with JX ALTA 360° Drainage Technology™ has been positive as contractors recognize the quality of the product and its unique features.”

 

Net sales

 

Consolidated sales for the third quarter of 2017 were $12.0 million, compared to $11.8 million in the third quarter of 2016, representing an increase of 2.3%. This increase consisted of increased sales in the Building Supply segment of $54,000, increased sales in the Disposable Protective Apparel segment of $147,000 and increased sales in the Infection Control segment of $69,000.

 

 

The following information was filed by Alpha Pro Tech Ltd (APT) on Wednesday, November 8, 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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Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Note 13 - Subsequent Events
Condensed Consolidated Balance Sheets (current Period Unaudited)
Condensed Consolidated Balance Sheets (current Period Unaudited) (parentheticals)
Condensed Consolidated Statement Of Shareholders' Equity (unaudited)
Condensed Consolidated Statements Of Cash Flows (unaudited)
Condensed Consolidated Statements Of Comprehensive Income (unaudited)
Condensed Consolidated Statements Of Income (unaudited)
Note 1 - The Company
Note 10 - Activity Of Business Segments
Note 10 - Activity Of Business Segments (details Textual)
Note 10 - Activity Of Business Segments (tables)
Note 10 - Activity Of Business Segments - Consolidated Net Property And Equipment, Goodwill And Intangible Assets (details)
Note 10 - Activity Of Business Segments - Consolidated Net Sales (details)
Note 10 - Activity Of Business Segments - Reconciliation Of Total Segment Income To Total Consolidated Net Income (details)
Note 11 - Related Party Transactions
Note 11 - Related Party Transactions (details Textual)
Note 12 - Commitments And Contingencies
Note 2 - Basis Of Presentation
Note 3 - Stock-based Compensation
Note 3 - Stock-based Compensation (details Textual)
Note 3 - Stock-based Compensation (tables)
Note 3 - Stock-based Compensation - Stock Option Activity (details)
Note 4 - Investments
Note 4 - Investments (details Textual)
Note 4 - Investments (tables)
Note 4 - Investments - Available-for-sale Marketable Securities (details)
Note 5 - Recent Accounting Pronouncements
Note 5 - Recent Accounting Pronouncements (details Textual)
Note 6 - Inventories
Note 6 - Inventories (tables)
Note 6 - Inventories - Inventories (details)
Note 7 - Equity Investment In Unconsolidated Affiliate
Note 7 - Equity Investment In Unconsolidated Affiliate (details Textual)
Note 8 - Accrued Liabilities
Note 8 - Accrued Liabilities (tables)
Note 8 - Accrued Liabilities - Accrued Liabilities (details)
Note 9 - Basic And Diluted Earnings Per Common Share
Note 9 - Basic And Diluted Earnings Per Common Share (tables)
Note 9 - Basic And Diluted Earnings Per Common Share - Reconciliation Of Net Income And Number Of Shares Used In Computations Of Basic And Diluted Eps (details)
Ticker: APT
CIK: 884269
Form Type: 10-Q Quarterly Report
Accession Number: 0001437749-17-018632
Submitted to the SEC: Wed Nov 08 2017 12:09:52 PM EST
Accepted by the SEC: Wed Nov 08 2017
Period: Saturday, September 30, 2017
Industry: Orthopedic Prosthetic And Surgical Appliances And Supplies

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