Alpha Pro Tech Ltd. reports first quarter results; Changing strategic focus clearly reflected.SALT LAKE CITY--(BUSINESS WIRE)--April 30, 1996--Alpha Pro Tech, Ltd. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). : APTD APTD Aid to the Permanently and Totally Disabled APTD Army Personnel Transformation Directorate APTD Appointed ), today announced its results for the first quarter ended March 31, 1996. For the three months ended March 31, 1996, sales increased to $3,586,000 from $3,559,000 in the same period in 1995. Net income was $46,000 versus $9,000 in the prior year same period. Sales of the Apparel Division, the new strategic focus - supplying health care, clean room and food service, rose to $1,566,000 from $1,060,000, an increase of $506,000 or 48%. Mask and eye shield and Unreal Lamb's Wool lamb's wool n. 1. Wool shorn from a lamb. 2. also lambs·wool A fabric or yarn made from this wool. lamb's wool lamb n → Lammwolle f product sales, which are more mature markets, saw a decrease of $479,000. Selling, general and administrative expenses increases by $154,000 for the period compared to last year, primarily related to Apparel Division growth related costs and the Ludan acquisition which became effective April 1995. Interest expense declined by $119,000 or 59.5% as a result of the company securing asset-based financing Asset-based financing Methods of financing in which lenders and equity investors look principally to the cash flow from a particular asset or set of assets for a return on, and the return of, their financing. at lower interest rates, as well as the conversion of $830,000 of notes payable to common stock. Finally, fixed asset expenditures, or investment in machinery for the new business area, increased to $96,000 from $10,000 in the year earlier period. Alexander Millar, president of Alpha Pro Tech Ltd. commented, "The results of this quarter are on track for the new directions Alpha Pro Tech is taking in 1996. We are continuing to invest in and ramp-up for the high growth Apparel Division healthcare, clean room and food service markets. We expect to see significant revenues from these areas during this year. Furthermore, we will continue to seek out low cost acquisitions of businesses and assets consistent with our strategic plans." Alpha Pro Tech develops, manufactures and markets innovative disposable protective apparel products for the medical, dental, industrial, clean room and food service markets. The company has manufacturing facilities in Salt Lake City, Nogales, Arizona Nogales is a city in Santa Cruz County, Arizona, United States. The population was 20,878 at the 2000 census. According to 2005 Census Bureau estimates, the population of the city is 20,833.[1] The city is the county seat of Santa Cruz County. ; 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. -0- FINANCIAL SUMMARY
Three Months Ended March 31,
(unaudited)
1996 1995
Sales $ 3,586,000 $ 3,559,000 Net Income $ 46,000 $ 9,000 Earnings Per Share $ 0.00 $ 0.00 Weighted Average Number of shares outstanding 19,963,963 16,782,718 CONTACT: KCSA KCSA Krannert Center Student Association KCSA Kentucky Crushed Stone Association (Frankfort, KY) KCSA Kyiv City State Administration KCSA Kalamazoo Christian School Association KCSA Kentucky-Canadian Studies Association , New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of Adam I. Friedman/Paul Holm 212/682-6300 ext.215/201 |
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