Alpha Pro Tech Cites Growth Opportunities At Annual Meeting.Business Editors SALT LAKE CITY--(BUSINESS WIRE)--JUNE 12, 2000 ALPHA PRO TECH, LTD LTD 1 Laron-type dwarfism 2 Leukotriene D 3 Long-term depression, see there 4. Long-term disability . (AMEX AMEX See: American Stock Exchange : APT; CHX See Chicago Stock Exchange. CHX See Chicago Stock Exchange (CHX). : APT), a developer and marketer of disposable protective apparel for the medical, dental, industrial clean room and food service markets, "is on target toward achieving continued growth in sales and earnings this year as it takes advantage of opportunities in new markets," Al Millar, President, told shareholders at the Company's annual meeting held here on Friday. Reflecting on Alpha Pro Tech's 1999 financial performance, Mr. Millar noted that while growth in the Company's core business will continue at a strong pace, "The recent launch of our new line of Food Service Safety Products is expected to further accelerate this growth." Alpha Pro Tech earlier this year signed an agreement to supply its Food Service Safety Products to 25,000 McDonald's Corp. restaurants worldwide. APT's line of Food Service Safety Products includes the Aqua Trak(R) Black(TM) shoe cover featuring its patented and proprietary anti-slip technology, a lightweight flame retardant Flame retardants are materials that inhibit or resist the spread of fire. Naturally occurring substances such as asbestos as well as synthetic materials, usually halocarbons such as polybrominated diphenyl ether (PBDEs), polychlorinated biphenyls (PCBs) and chlorendic acid sleeve protector to be used while attending hot oil fryers and grills, a lightweight disposable laminated apron impervious to water, oil or grease, and a lightweight specially coated anti-fog face shield Face shield refers to a variety of devices used to protect a medical professional during a procedure that might expose the worker to blood or other potentially infectious fluid. An example is the use of a CPR mask while performing Rescue breathing or CPR. . Mr. Millar said the Company intends to further penetrate the fast food market with its products and is seeking additional supply agreements with other national chains. He also cited growth opportunities in the Company's industrial sector, noting that Alpha Pro Tech had signed a three-year agreement with a key distributor to sell a minimum of $10 million per year in clean room products. For the year ended Dec. 31, 1999, Alpha Pro Tech had record revenue of $20.2 million and net income of $1,129,000, or $0.05 per share. In the first quarter ended March 31, 2000, sales totaled $4.9 million with net income of $412,000, or $0.02 per share. Shareholders at the meeting and those voting by proxy re-elected five members to the Board of Directors. In addition to Mr. Millar, they were Sheldon Hoffman, the Company's Chief Executive Officer, and Donald E. Bennett, Jr., President of the Apparel Division. Two outside directors re-elected were Robert Isaly and John Ritota. Shareholders also ratified the appointment of PricewaterhouseCoopers, LLP LLP - Lower Layer Protocol as the Company's independent accounts. Alpha Pro Tech, Ltd. develops, manufactures and markets innovative disposable and limited-use protective apparel products for the medical, dental, industrial, clean room and food service markets. The Company has manufacturing facilities in Salt Lake City, Utah For ships of the United States Navy of the same name, see . Salt Lake City is the capital and the most populous city of the U.S. state of Utah. The name of the city is often shortened to Salt Lake, or its initials, S.L.C. ; Nogales, Arizona; Janesville, Wisconsin; Valdosta, Georgia; and Benjamin Hill and Nogales Nogales (nōgä`lās), city (1990 pop. 19,489), Santa Cruz co., S Ariz. on the Mexican border with its adjacent city, Nogales (1990 pop. 105,873), Sonora, NW Mexico. There are copper, silver, and lead mines. , Mexico. For more information visit Alpha Pro Tech's Website at http://www.alphaprotech.com. The Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995 ("Act") provides a safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. for forward-looking information made on behalf of the Company. All statements, other than statements of historical facts which address the Company's expectations of sources of capital or which express the Company's expectation for the future with respect to financial performance or operating strategies, can be identified as forward-looking statements. Such statements made by the Company are based on knowledge of the environment in which it operates, but because of the factors previously listed, as well as other factors beyond the control of the Company, actual results may differ materially from the expectations expressed in the forward-looking statements. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion