Alpha Pro Tech Reports 1st Quarter Results - 51.5% Increase in Net Income EPS $ 0.02 vs $ 0.01.Business Editors 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. , Ariz.--(BUSINESS WIRE)--APril 26, 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), announced today financial results for the first quarter ended March 31, 2000, reporting net income of $412,000 compared to $272,000 for the same period in 1999, a 51.5% increase. Earnings per share improved to $0.02 per share on 26,131,013 diluted weighted average shares outstanding compared with $0.01 per share on 24,379,268 diluted weighted average shares outstanding a year ago. First quarter sales totaled $4,940,000 compared with $4,489,000, an increase of 10.0% from the 1999 quarter. Alpha Pro Tech attributed the gains to increases in mask and eye shield sales, which rose 28.7% to $1,450,000 in the first quarter compared with $1,127,000 in the 1999 period. It also cited a 5.6% sales increase in its Apparel Division to $2,854,000 from $2,703,000 a year ago, noting the sixth consecutive quarter of increased sales from the division's largest distributor. Alpha Pro Tech expects strong sales and income for the full year, aided by growth in its new Food Service Safety Products. "Our Company looks forward to continued growth in revenue in its current markets, as well as in the Food Service sector," stated Al Millar, President of Alpha Pro Tech. "Based on the positive response at a recent Convention, the future growth of the Food Service product line appears to be very optimistic," Mr. Millar added. Alpha Pro Tech 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 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 Janesville is a city in southern Wisconsin. It is the county seat of Rock CountyGR6 and the principal municipality of the Janesville, Wisconsin Metropolitan Statistical Area. As of the 2000 census, the city had a population of 59,498. ; Valdosta, Georgia The city of Valdosta is the county seat of Lowndes County, Georgia, United States. It is the principal city of the Valdosta, Georgia Metropolitan Statistical Area. As of the 2000 census, the city had a total population of 43,724. ; and Benjamin Hill and Nogales, Mexico. 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. Forward-looking statements involve risks, uncertainties and assumptions as described from time to time in registration statements, annual reports and other periodic reports and filings of the Company filed with the Securities and Exchange Commission. All statements, other than statements of historical facts which address the Company's expectations of sources of capital or which express the Company's expectations for the future with respect to financial performance or operating strategies, can be identified as forward-looking statements. As a result, there can be no assurance that the Company's future results will not be materially different from those described herein as "believed," "anticipated," "estimated" or "expected," which reflect the current views of the Company with respect to future events. We caution readers that these forward-looking statements speak only as the date hereof. The Company hereby expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any such statements to reflect any change in the Company's expectations or any change in events, conditions or circumstances on which such statement is based.
ALPHA PRO TECH, LTD.
Selected Statement of Operations Data
(Unaudited)
Three Months Ended
March 31,
2000 1999
---- ----
Sales $ 4,940,000 $ 4,489,000
Net Income $ 412,000 $ 272,000
Diluted Net Income
Per Share $ 0.02 $ 0.01
Diluted Weighted Average
Shares Outstanding 26,131,013 24,379,268
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