Alpha Pro Tech Reports Record Third Quarter and Nine Months Sales and Earnings Marking Seventh Consecutive Quarter of Profitability.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)--Nov. 8, 1999-- ALPHA PRO TECH, LTD LTD 1 Laron-type dwarfism 2 Leukotriene D 3 Long-term depression, see there 4. Long-term disability . (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :APTD APTD Aid to the Permanently and Totally Disabled APTD Army Personnel Transformation Directorate APTD Appointed ), developer, manufacturer and marketer of disposable protective apparel for the medical, dental, industrial clean room and food service markets, reported record sales and earnings for the third quarter and for the nine months ended September 30, 1999. "This marks the Company's seventh consecutive quarter of profitability since the restructuring of the Company which began some two years ago," Al Millar, President of Alpha Pro Tech, announced today. Sales for the three months ended September 30, 1999 amounted to $5,176,000, a 22.3% increase from sales of $4,231,000 for the comparable three months in 1998. Net income for the three months increased nearly five-fold to $241,000, or $.01 per diluted share, on 24,640,003 diluted weighted average shares outstanding, versus $41,000, or $.00 per diluted share, on 24,227,508 diluted weighted average shares outstanding in the comparable three month period a year ago. For the nine months ended September 30, 1999, Alpha Pro Tech had sales of $14,888,000 compared with $13,674,000 for the 1998 nine month period, an increase of 8.9%. Net income for the nine months rose to $792,000, or $.03 per diluted share, on 24,474,792 diluted weighted average shares outstanding, a near three-fold increase over net income of $215,000, or $.01 per diluted share, on 24,278,272 diluted weighted average shares outstanding in the 1998 nine month period. Mr. Millar noted that "Alpha Pro Tech is experiencing increased sales in all of its divisions and combined with the operational restructuring of the Company which began nearly two years ago has resulted in significantly improved gross margins and lower operating costs operating costs npl → gastos mpl operacionales since that time, a trend which we see continuing well into the foreseeable future." Mr. Millar reiterated his earlier forecast "for continued growth in both sales and earnings for the remainder of 1999, well exceeding 1998 sales of $18 million and net earnings of $316,000." He added that "the sales increases we are seeing do not include any meaningful sales of the Company's new Food Service Safety Products which it is introducing. These products, which include Aqua Trak Black(R) anti slip disposable shoe covers, aprons, sleeve protectors and face shields for the restaurant and food service markets, are expected to have a favorable impact in the coming year." 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. 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, including statements with respect to year 2000 compliance, can be identified as forward-looking statements. Such statements made by the Company are based on knowledge of the environment in which it operates, but because of the factors previously listed, as well as other factors beyond the control of the Company, actual results may differ materially from the expectations expressed in the forward-looking statements. -0-
ALPHA PRO TECH, LTD
Consolidated Statement of Operations
(Unaudited)
Three Months Ended Nine Months Ended
September 30, September 30,
1999 1998 1999 1998
---- ---- ---- ----
Sales $5,176,000 $4,231,000 $14,888,000 $13,674,000
Net Income $ 241,000 $ 41,000 $ 792,000 $ 215,000
Diluted Income
Per Share $ 0.01 $ 0.00 $ 0.03 $ 0.01
Diluted Weighted
Average Shares
Outstanding 24,640,003 24,227,508 24,474,792 24,278,272
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