Exhibit 99.1

 

 

 

ALPHA PRO TECH, LTD. ANNOUNCES FINANCIAL RESULTS FOR THE

SECOND QUARTER OF 2019

 

 

 

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

 

 

Building Supply segment sales for the second quarter of 2019 increased by $138,000, or 2.1%, to $6.7 million compared to the second quarter of 2018, driven by a 23.2% increase in roof underlayment sales.

 

 

Net income for the second quarter of 2019 was $1.0 million, or $0.08 per diluted share, compared to $959,000, or $0.07 per diluted share, for the second quarter of 2018.

 

 

Net income for the six months ended June 30, 2019 was $2.2 million, or $0.17 per diluted share, compared to $1.5 million, or $0.10 per diluted share, for the same period of 2018, representing an increase of $761,000, or 51.9%.

 

Nogales, Arizona – August 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 three and six months ended June 30, 2019.

 

Lloyd Hoffman, President and Chief Executive Officer of Alpha Pro Tech, commented, “Early in the second quarter, we announced the expansion of our TECHNO family of spunbond based (SB) products, which products are expected to significantly expand our market share in the synthetic roof underlayment market. We are pleased with the early success of our new TECHNO SB® 25 product, which was a driving force in our 23.2% growth in sales of synthetic roof underlayment during the second quarter.”

 

Hoffman continued, “Though sales in our Disposable Protective Apparel segment were down in the quarter, sales in that segment are still up year-to-date, and we are encouraged by the 5.7% increase in sales of disposable protective clothing during the first six months of 2019 compared to the same period last year, primarily due to increased sales to our major international supply chain partner. Year-to-date, income from operations increased by 11.1%, primarily due to lower expenses, and net income increased by 51.9%, primarily due to lower expenses and a gain on marketable securities.”

 

 

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

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