Alpha Pro Tech Reports First Quarter Sales and Record Quarterly Net Income.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)--May 6, 2002 Alpha Pro Tech, Ltd. (AMEX AMEX See: American Stock Exchange :APT)(CHX See Chicago Stock Exchange. CHX See Chicago Stock Exchange (CHX). :APT), a developer, manufacturer and marketer of disposable protective apparel for the medical, dental, industrial clean room and food service markets, today reported first quarter sales and record quarterly net income. Net income for the quarter ended March 31, 2002 was a record $421,000 as compared to $300,000 for the quarter ended March 31, 2001, an increase of $121,000 or 40.3%. This represents $0.02 per share, on 24,179,918 weighted average shares outstanding for the first quarter 2002 versus $0.01 per share, on 25,051,701 weighted average shares outstanding for the 2001 period. Net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight for the three months ended March 31, 2002 were $5,203,000, a $232,000 or 4.3% decrease from the $5,435,000 for the first quarter of 2001. "Although consolidated sales for the first quarter were down compared to the same quarter in 2001, they were higher than both the third and fourth quarters of 2001," stated Al Millar, President of Alpha Pro Tech. "We expect this trend to continue throughout 2002 as we regain the momentum lost during the second half of 2001." 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 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. ; Benjamin Hill, Mexico and China. For more information visit Alpha Pro Tech's Website at http://www.alphaprotech.com.
For the Three Months Ended
March 31,
2002 2001
Sales $ 5,203,000 $ 5,435,000
Pre-tax income $ 649,000 $ 459,000
Provision for income taxes $ 228,000 $ 159,000
Net Income $ 421,000 $ 300,000
Net Income Per Share $ 0.02 $ 0.01
Diluted Weighted Average
Shares Outstanding 24,179,918 25,051,701
This news release contains forward-looking statements that are made pursuant to the 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. provisions of 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. 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 expectation 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 of 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. |
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