Exhibit 99.1

 

 

 

 

ALPHA PRO TECH, LTD. ANNOUNCES 47.5% SALES GROWTH

FOR THE FIRST QUARTER ENDED MARCH 31, 2020

AND PROVIDES UPDATE ON PERSONAL PROTECTIVE EQUIPMENT ORDERS

 

 

EPS increases over 300% to $0.39 per diluted share for the quarter

 

 

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 first quarter of 2020 increased 47.5% to $18.2 million, compared to $12.3 million for the first quarter of 2019.

 

Net income for the first quarter of 2020 increased 338.6% to $5.3 million, compared to $1.2 million for the first quarter of 2019.

 

Earnings per share for the first quarter of 2020 increased to $0.39 per diluted share, compared $0.09 per diluted share for the first quarter of 2019.

 

Nogales, Arizona – May 6, 2020 – Alpha Pro Tech, Ltd. (NYSE American: APT) (the “Company”), 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 month period ended March 31, 2020 and provided an update on personal protective equipment (“PPE”) orders resulting from the COVID-19 pandemic.

 

Lloyd Hoffman, President and Chief Executive Officer of Alpha Pro Tech, commented, “The unprecedented surge in demand for our personal protective equipment, otherwise known as PPE, resulting from the outbreak of the coronavirus, COVID-19, particularly our N-95 Particulate Respirator face mask and face shields, drove quarterly sales and significantly higher gross profit for the first quarter. We are incredibly proud of our employees and their ability to adjust and respond to evolving circumstances and to successfully navigate industry changes and macro-economic cycles in these unprecedented times. Our initial response to the tremendous spike in demand for our N-95 face masks, which are 100% sourced and manufactured in the United States, was quick and demonstrates our continued commitment to navigating an ever-changing landscape. We are working diligently to expand production capacity of our N-95 face mask and our face shields in order to meet the extreme demand for these products.”

 

 

The following information was filed by Alpha Pro Tech Ltd (APT) on Wednesday, May 6, 2020 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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