Alpha Pro Tech Reports Record Quarterly Earnings Per Share of $0.03.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)--Aug. 1, 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 record quarterly net income for the quarter ended June 30, 2002 of $668,000 as compared to $265,000 for quarter ended June 30, 2001, representing an increase of $403,000 or 152.1%. Net income for the six months ended June 30, 2002 was $1,089,000 as compared to $565,000 for the six months ended June 30, 2001, representing an increase of $524,000 or 92.8%. Net income per share (EPS (Encapsulated PostScript) A PostScript file format used to transfer a graphic image between applications and platforms. EPS files contain PostScript code as well as an optional preview image in TIFF, WMF, PICT or EPSI, the latter being an ASCII-only format. ) for the second quarter 2002 was $0.03 per share on 24,216,059 diluted average shares versus $0.01 per share on 23,716,767 diluted average shares for the second quarter 2001. Net income per share for the six months ended June 30, 2002 was $0.05 per share on 24,197,643 diluted average shares versus $0.02 per share on 24,384,234 diluted average shares for the same period in 2001. Consolidated sales for the quarter ended June 30, 2002 was $5,805,000 as compared to $6,003,000 for the same quarter in 2001, representing a decrease of $198,000 or 3.3%. Sales for the six months ended June 30, 2002 were $11,008,000 a $430,000 or 3.8% decrease from $11,438,000 a year ago. "Second quarter net income of $668,000 and EPS of $0.03 were both quarterly records. For the six months ended June 30, 2002, net income and EPS has surpassed all of 2001. This improvement is mainly due to improved gross profit margins Gross profit margin Gross profit divided by sales, which is equal to each sales dollar left over after paying for the cost of goods sold. gross profit margin A measure calculated by dividing gross profit by net sales. and manufacturing efficiencies," said Company President Al Millar. "Management expects increased sales each quarter versus prior period quarters for the remainder of 2002," continued Mr. Millar. 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.
(Unaudited)
For the Three Months Ended For the Six months Ended
June 30, June 30,
2002 2001 2002 2001
Sales $ 5,805,000 $ 6,003,000 $11,008,000 $11,438,000
Net Income $ 668,000 $ 265,000 $ 1,089,000 $ 565,000
Net income per
share $ 0.03 $ 0.01 $ 0.05 $ 0.02
Diluted Weighted Average
Shares Outstanding 24,216,059 23,716,767 24,197,643 24,384,234
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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