Alpha ProTech Reports Second Consecutive Quarter of Record Sales.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. 14, 1997-- Third Quarter Sales Gain of 24.8 Percent Led by 49.5 Percent Gain in Apparel Division Alpha ProTech Ltd. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). : APTD APTD Aid to the Permanently and Totally Disabled APTD Army Personnel Transformation Directorate APTD Appointed ) today announced that for the second quarter in a row, the company has achieved record sales levels. For the third quarter ending Sept. 30, 1997, the company reported sales of $4,708,000, representing a gain of 24.8 percent over the comparable quarter last year. The total sales level for the third quarter of 1997 continued to set new sales records for the company. The quarter's sales increase was led by the company's apparel division, which posted sales of $3,170,000, a 49.5 percent increase from third quarter 1996 apparel division sales of $2,121,000. For the quarter, the company reported a net loss of $353,000 or $.01 per share, as compared to net income of $26,000 or $.00 per share for the same period in 1996. For the nine months ending Sept. 30, 1997, Alpha ProTech reported total sales of $13,184,000 as compared to $11,231,000 for the first nine months of 1996. The company reported a net loss of $271,000 or $.01 per share for the nine months ending Sept. 30, 1997, as compared to net income of $96,000 or $.00 per share for the same period last year. Al Millar Millar can refer to:
See also: Fast-food restaurant, Casual dining, List of reference tables. International
Millar also noted that during the quarter mask and eye shield sales decreased by 12.1 percent to $994,000 from $1,131,000. This decrease is primarily due to a drop in shield/mask combination product sales. Sales from the company's Unreal Lambskin and other related products, including a line of pet beds, increased by 4.6 percent to $544,000 in the third quarter of 1997, as compared to $520,000 in the same period one year ago. An increase in sales of rolled Lambskin goods is primarily responsible for this increase. "We are clearly focused on managing the growth that Alpha ProTech is experiencing at the present time. We believe that during the third quarter we took the necessary steps to set the stage for long-term Long-term Three or more years. In the context of accounting, more than 1 year. long-term 1. Of or relating to a gain or loss in the value of a security that has been held over a specific length of time. Compare short-term. profitability in the future." Alpha ProTech develops, manufactures and markets innovative disposable disposable Nursing adjective Referring to that which is discarded or disposed of noun An item used in health care-related Pt contact which is discarded after use–eg masks, gloves, gowns, needles, paper products, syringes, wipes. See Biohazardous waste. protective apparel products for the medical, dental, industrial, clean room and food service markets. The company has manufacturing facilities in Salt Lake City; Nogales, Ariz.; Janesville Janesville, city (1990 pop. 52,133), seat of Rock co., S central Wis., on the Rock River; inc. 1853. It is an industrial and commercial center in a grain, dairy farm, and tobacco area. , Wis adv. 1. Certainly; really; indeed. v. t. 1. To think; to suppose; to imagine; - used chiefly in the first person sing. present tense, I wis. See the Note under Ywis. .; Valdosta Valdosta (văldŏs` tə), city (1990 pop. 29,806), seat of Lowndes co., S Ga., near the Fla. line, in a lake region; inc. 1860. Valdosta is a large naval stores market and a processing, distribution, and commercial center for a tobacco, , Ga.; and Benjamin Hill and Nogales, Mexico. -0- Forward Looking Statement 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 can be identified as forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. . 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. These risks are described in the company's Form 10K for the fiscal year ended Dec. 31, 1996, filed with the U.S. Securities & Exchange Commission. -0-
FINANCIAL SUMMARY
ALPHA PROTECH LTD.
For Three Months For Nine Months
Ended Sept. 30, Ended Sept. 30,
(unaudited)
1997 1996 1997 1996
Sales $ 4,708,000 $ 3,772,000 $ 13,184,000 $11,231,000
Gross Profit 1,458,000 1,323,000 4,718,000 3,903,000
Net income (353,000) 26,000 (271,000) 92,000
Income per share (0.01) 0.00 (0.01) 0.00
Weighted average
number of shares
outstanding 24,104,116 20,512,130 23,193,445 20,163,671
Selected Balance Sheet Items
30-Sept-97 31-Dec-96
Cash $ 327,000 $ 275,000
Current Assets $ 7,501,000 $ 5,614,000
Current Liabilities $ 3,161,000 $ 3,414,000
Stockholders equity $ 6,295,000 $ 3,850,000
Statements contained in this news release that are not historical facts are forward-looking statements based upon management's current expectations that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by forward-looking statements. These risks are described in the company's Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the fiscal year ended Dec. 31, 1996, filed with the U.S. Securities and Exchange Commission. CONTACT: Alpha ProTech Ltd. Al Millar/Donna Millar, 800/847-9725 or Martin E. Janis & Company Inc. Bev Jedynak, 312/943-1100 |
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