Alpha Pro Tech Reports Record Quarterly Sales of $6 Million.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. 2, 2001 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, manufacturer and marketer of disposable protective apparel for the medical, dental, industrial safety, clean room and food service markets, today announced record quarterly sales of $6,003,000 for the three months ended June 30, 2001, an $872,000 or 17.0% increase over the $5,131,000 from a year ago. Second quarter pre-tax income was $415,000, or $0.02 per share, a $73,000 or 21.4% increase over the $342,000, or $0.01 per share, recorded in the second quarter of 2000. Net income for the second quarter of 2001, which reflected a $150,000 provision for income taxes compared with no provision for income taxes in the corresponding period a year ago, was $265,000, or $0.01 per share, on 23,716,767 diluted weighted average shares outstanding, compared with $342,000, or $0.01 per share, on 25,846,027 diluted weighted average shares outstanding for the year-ago period. Sales for the six months ended June 30, 2001, rose to $11,438,000, a $1,367,000 or 13.6% over the $10,071,000 from a year ago. Pre-tax income increased to $874,000, or $0.04 per share, a $120,000 or 15.9% improvement over the $754,000, or $0.03 from a year ago. Net income totaled $565,000, or $0.02 per share, on 24,384,234 diluted weighted average shares outstanding compared with $754,000, or $0.03 per share, on 25,988,520 diluted weighted average shares outstanding for the first six months of 2000. Net income for the first six-months of 2001 reflects a $309,000 income tax provision compared to no provision for the year-ago period when the Company benefited by utilizing net operating loss operating loss The excess of operating expenses over revenue. As with operating income, operating losses exclude revenues and expenses from operations that are not considered a regular part of the business. Also called deficit. Compare operating income. (NOL NOL - Never Offline ) carryforwards. Sales for the Apparel Division in the second quarter of 2001 were $4,335,000, a $983,000 or 29.3% increase when compared with $3,352,000 for the second quarter of 2000. The increase was attributed to Alpha Pro Tech's largest distributor, which has reported record year to date sales of the Company's products to their end users. Apparel Division sales for the first half of 2001 were $7,768,000, an increase of $1,562,000 or 25.2% over the $6,206,000 from a year ago. "Alpha Pro Tech is well positioned to grow revenue in its current markets," stated Company President Al Millar. "We expect 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. for fiscal 2001 to continue to be strong due to a more global emphasis on purchasing and a continued focus on improving manufacturing processes and efficiency."
(Unaudited)
For the Three Months Ended For the Six months Ended
June 30, June 30,
2001 2000 2001 2000
Sales $ 6,003,000 $ 5,131,000 $ 11,438,000 $10,071,000
Pre-tax
income $ 415,000 $ 342,000 $ 874,000 $ 754,000
Provision
for income
taxes $ 150,000 $ 0 $ 309,000 $ 0
Net Income $ 265,000 $ 342,000 $ 565,000 $ 754,000
Pre-Tax
income
per share $ 0.02 $ 0.01 $ 0.04 $ 0.03
Net income
per share $ 0.01 $ 0.01 $ 0.02 $ 0.03
Diluted
Weighted
Average
Shares
Outstanding 23,716,767 25,846,027 24,384,234 25,988,520
Alpha Pro Tech, Ltd. develops, manufactures and markets innovative disposable and limited-use protective apparel products for the medical, dental, industrial safety, 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. For more information visit Alpha Pro Tech's Website at http://www.alphaprotech.com. 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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