Welcome to our dedicated page for Alpha Pro Tech, Ltd. news (Ticker: APT), a resource for investors and traders seeking the latest updates and insights on Alpha Pro Tech, Ltd. stock.
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 reported a net sales decline of 30.2% for Q2 2021, totaling $17.8 million, down from $25.5 million a year ago. The Disposable Protective Apparel segment saw a significant drop of 55.6%, primarily due to decreased demand for face masks and shields, although disposable protective garment sales surged by 36.3%. The Building Supply segment grew by 31.5%, highlighting continued demand. Net income fell to $1.8 million from $6.2 million, with EPS at $0.12 versus $0.46 in Q2 2020. The company holds $15.5 million in cash and zero debt, but faces challenges from rising costs and changing market dynamics.
Alpha Pro Tech announces a transition to a virtual-only format for its 2021 Annual Meeting of Shareholders on June 9, 2021, due to ongoing COVID-19 concerns. The meeting will take place at 9:30 a.m. ET, accessible via remote communication. Shareholders of record as of April 12, 2021, can participate by logging in with their control number and the password 'alpha2021'. A replay will be available on the company’s website until July 9, 2021. The items of business remain unchanged from previous communications.
Alpha Pro Tech reported a 28% increase in net sales for Q1 2021, totaling $23.2 million, driven by a 40% surge in the Disposable Protective Apparel segment. Their net income was $3.7 million, down from $5.3 million in Q1 2020, impacted by a prior year's tax benefit. The company experienced strong growth in face shields (94%) and synthetic roof underlayment (32%). However, they anticipate declining demand for face masks and face shields as the pandemic situation improves. They plan to invest $4.0 million to expand production capacity.
Alpha Pro Tech (APT) reported record full-year net sales of $102.7 million, marking a 120% increase year-over-year. The net income reached $27.1 million, or $1.94 per diluted share. For Q4 2020, sales hit $29.0 million compared to $10.9 million in Q4 2019, and net income surged to $7.4 million from $335,000. Significant growth was seen in face mask sales, totaling $41.8 million for 2020, driven by COVID-19 demand. Looking ahead, APT anticipates a normalization of demand for N-95 masks, though overall sales may remain strong.
Alpha Pro Tech reported record net sales of $30.0 million for Q3 2020, up 150% year-over-year. Net income soared to $8.1 million, or $0.58 per share, compared to $437,000 in Q3 2019, marking a 1,755% increase. Face mask sales hit a record $13.4 million, a sequential rise of 57.6%. Cash reserves grew 275% to $24.6 million compared to year-end 2019. While demand for PPE remains high, management anticipates a decline in face shield sales due to increased competition. The company expects continued growth in face mask sales into 2021.
Alpha Pro Tech, Ltd. (NYSE American: APT) will announce its third quarter financial results for the period ending September 30, 2020, on November 5, 2020, before market opening. The company specializes in protective apparel and building products, catering to industries such as medical and construction. Its manufacturing facilities are located in Salt Lake City, Nogales, Valdosta, and a joint venture in India.
Alpha Pro Tech (NYSE American: APT) has authorized a $5.0 million expansion of its share repurchase program, bringing the total to approximately $7.0 million. This decision was influenced by the company's record revenue growth and strong cash flow in the first half of 2020, amidst high demand for protective products due to the COVID-19 pandemic. The company plans to execute buybacks through open market purchases and intends to retire all acquired shares, aiming to enhance shareholder value.
Alpha Pro Tech, Ltd. (APT) is set to join the Russell 3000® and Russell 2000® Indexes starting June 29, 2020, following the 2020 Russell indexes annual reconstitution. This transition from the Russell Microcap® Index highlights the company's growth and improved financial performance over the past year. The Russell indexes are benchmarks for around $9 trillion in assets, offering significant visibility to APT among institutional investors. CEO Lloyd Hoffman emphasized the positive implications of this move for communicating the company's story to a wider investor audience.
Alpha Pro Tech reported a 47.5% increase in revenue to $18.2 million for Q1 2020, up from $12.3 million in Q1 2019. Net income surged 338.6% to $5.3 million, with earnings per share rising to $0.39. The growth was fueled by heightened demand for PPE due to COVID-19, particularly N-95 masks, resulting in $46.8 million in orders. Despite some delays in production, all U.S. manufacturing sites are operational. The company's balance sheet shows cash of $17.4 million and no debt, supporting future growth investments.
FAQ
What is the current stock price of Alpha Pro Tech, Ltd. (APT)?
What is the market cap of Alpha Pro Tech, Ltd. (APT)?
What products does Alpha Pro Tech, Ltd. offer?
What are the main business segments of Alpha Pro Tech, Ltd.?
How did Alpha Pro Tech perform financially in recent quarters?
What strategic initiatives has Alpha Pro Tech recently undertaken?
What is Alpha Pro Tech's approach to shareholder value?
Does Alpha Pro Tech have any debt?
What are the growth prospects for Alpha Pro Tech's products?
Where are Alpha Pro Tech's manufacturing facilities located?
How is Alpha Pro Tech addressing challenges in the housing market?
How does Alpha Pro Tech ensure product quality and innovation?
