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Alpha Pro Tech, Ltd. (NYSE American: APT) is a premier manufacturer renowned for safeguarding people, products, and environments through its innovative product lines. Specializing in disposable protective apparel, infection control products, and construction weatherization solutions, the company serves both commercial and residential markets primarily in the United States.
Alpha Pro Tech operates through two main segments: Building Supply and Disposable Protective Apparel. The Building Supply segment features high-value products such as housewraps, synthetic roof underlayments, and other woven materials aimed at enhancing the durability and safety of construction projects. The Disposable Protective Apparel segment offers a wide range of products including face masks, eye shields, shoe covers, gowns, and more, catering to industrial, medical, and dental markets.
In 2023, Alpha Pro Tech reported significant milestones despite challenges in the housing market. The company achieved record sales in the Building Supply segment, especially with its housewrap and accessories products, which saw a remarkable 24.3% growth in Q1 2024. This success is attributed to market diversification, robust product development, and strategic sales expansions. The launch of the new self-adhered roofing products has also shown promise, capturing market interest and contributing to the segment’s growth.
Financially, Alpha Pro Tech has demonstrated resilience and strategic foresight. In the third quarter of 2023, the company recorded net sales of $16.1 million, up 9.0% from the previous year, with a notable 25.7% increase in housewrap sales. Despite a decrease in face masks and face shield sales due to post-pandemic inventory adjustments, the overall disposable protective garments sector showed a promising uptick.
Alpha Pro Tech remains committed to enhancing shareholder value, as demonstrated by its continuous share repurchase program. The company has authorized multiple expansions to this program, allowing for the buyback and retirement of shares to optimize shareholder returns.
As of March 31, 2024, Alpha Pro Tech reported $18.5 million in cash and no outstanding debt, underscoring its robust financial health and capacity to support ongoing and future operations. The company's strategic focus on product innovation, market expansion, and financial prudence positions it well for sustained growth and success.
For more detailed financial information and latest news releases, visit Alpha Pro Tech's official website.
Alpha Pro Tech (APT) reported Q3 2024 financial results with overall sales decreasing 11.2% to $14.3 million compared to Q3 2023. The Building Supply segment saw a 23.2% decline to $8.8 million, while Disposable Protective Apparel segment increased 18.4% to $5.5 million. Net income was $862,000 ($0.08 per diluted share), down from $1.4 million ($0.12 per diluted share) in Q3 2023. The company maintains a strong financial position with $18.4 million in cash and $48.7 million in working capital with no debt.
Alpha Pro Tech (NYSE American: APT) has announced a $1.0 million expansion of its existing share repurchase program. This expansion brings the total available for share repurchases to approximately $1.5 million, with $0.5 million remaining from the previous expansion announced in April 2024. The company plans to repurchase shares through open market purchases or privately-negotiated transactions and intends to retire all repurchased shares.
The repurchases may be executed through a pre-arranged plan under Rule 10b5-1 and Rule 10b-18 of the Securities Exchange Act of 1934. Additional open market and privately-negotiated purchases may occur outside the repurchase plan, subject to market conditions and applicable regulations.
Alpha Pro Tech (NYSE American: APT) reported Q2 2024 financial results with net income of $1.6 million or $0.15 per diluted share, up 43.5% from Q2 2023. Net sales increased 1.1% to $16.3 million. The Building Supply segment saw a 5.7% decrease in sales, while the Disposable Protective Apparel segment experienced a 13.8% increase. The company maintained a strong financial position with $16.2 million in cash and $50.7 million in working capital as of June 30, 2024. Despite challenges in the housing market, APT saw growth in disposable protective garments and face mask sales. The company continues its stock repurchase program, having bought back 515,000 shares in H1 2024.
Alpha Pro Tech, announced its first-quarter 2024 financial results. Total sales decreased by 2.3% to $13.5 million compared to the prior year. Disposable Protective Apparel sales increased by 1.4%, while Building Supply segment sales decreased by 4.5%. The company reported a net income of $576,000 for Q1 2024. Cash stood at $18.5 million with no debt as of March 31, 2024.
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