Exhibit 99.1

 

 

 

 

ALPHA PRO TECH, LTD. ANNOUNCES FINANCIAL RESULTS FOR THE FOURTH QUARTER AND YEAR ENDED DECEMBER 31, 2018

 

 

 

FOR IMMEDIATE RELEASE

 

Company Contact:

Investor Relations Contact:

Alpha Pro Tech, Ltd. 

Hayden IR

Donna Millar

Cameron Donahue

905-479-0654

651-653-1854

e-mail: ir@alphaprotech.com 

e-mail: cameron@haydenir.com

    

Revenue for the fourth quarter of 2018 was $11.0 million, an increase of 10% compared to $9.9 million for the fourth quarter of 2017.

   
Revenue for the year ended December 31, 2018 increased 5.9% to $46.6 million, compared to $44.0 million for the year ended December 31, 2017.
   
Net income for the fourth quarter of 2018 was $618,000, or $0.05 per diluted share, compared to  $176,000, or $0.01 per diluted share, for the fourth quarter of 2017. 
   
Net income for the year ended December 31, 2018 was $3.6 million, or $0.26 per diluted share, compared to $2.6 million, or $0.18 per diluted share, for the year ended December 31, 2017, an increase of 37.7%. 

 

 

Nogales, Arizona – March 5, 2019 – 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 fourth quarter and year ended December 31, 2018.

 

Lloyd Hoffman, President and Chief Executive Officer of Alpha Pro Tech, commented, “Increased sales in 2018 were driven by solid growth in our Building Supply and Disposable Protective Apparel segments, which grew by 6% and 10%, respectively. Building Supply sales were positively impacted by record revenue in both housewrap and other woven material products. Based on the success of our TECHNO SB® synthetic roof underlayment product in 2018, we will be expanding this line to include two new products, an economy and a premium version. These new products should provide significant growth opportunities commencing in 2019. Strong Disposable Protective Apparel segment sales in 2018 were driven by increased sales to our major international supply chain partner and to our national and regional distributors. We are optimistic about continued overall company revenue growth for 2019.”

 

Hoffman continued, “Demand for our products, coupled with our continued focus on controlling costs, contributed to our financial results for 2018, including 38% net income growth for the year. Our consistent generation of net income allows us to return value to our shareholders through our share repurchase program, which enabled us to increase earnings per share by 48% during 2018. Earnings per share of $0.26 in 2018 has only been exceeded one time in our history, in 2009, which resulted, in large part, from record sales in connection with the unusual global H1N1 Influenza A pandemic.”

 

 

The following information was filed by Alpha Pro Tech Ltd (APT) on Tuesday, March 5, 2019 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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