Alpha Pro Tech, Ltd. Ticker: APTD Page 1 of 10
Complete Financials: September 1999 Exchange OTC
FY END DEC
ISSUE DATA (12/10/99) PER SHARE DATA RATIOS
Price $ 0.70 EPS (TTM) $ 0.04 P/E (TTM) 18.92
52W High $ 1.19 Div. Rate $ 0.00 Yield 0.00 %
52W Low $ 0.45 Book Value $ 0.28 Price/Book 2.50
Shrs Out 24.11 Mil Cash $ 0.03 ROE (TTM) 14.29 %
Float 3.90 Mil Rev (TTM) $ 0.79 ROA (TTM) 9.10 %
Mon. Vol 0.50 Mil Curr. Ratio 2.16
Beta 0.33 LT Dbt/Eqty 0.04
BRIEF: Alpha Pro Tech, Ltd. develops, manufactures and
markets disposable protective apparel and consumer products
for the cleanroom, food service, industrial, medical,
dental and consumer markets. For the 9 months ended 9/99,
sales rose 9% to $14.9M. Net income totalled $792K, up from
$215K. Revenues reflect increased Apparel Division sales to
the Company's largest distributor. Earnings reflect lower
public company expenses and telecommunications expenses.
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Alpha Pro Tech, Ltd. QUARTERLY SUMMARY Page 2 of 10
HISTORICAL QUARTERLY RESULTS(Thousands of U.S. Dollars)
REVENUE 1996 1997 1998 1999
1st Qtr MAR 3,586 3,985 4,742 4,489
2nd Qtr JUN 3,873 4,491 4,701 5,222
3rd Qtr SEP 3,772 4,708 4,231 5,176
4th Qtr DEC 3,632 4,639 4,311
EPS (U.S. Dollars per share)
1st Qtr MAR 0.002 0.003 0.003 0.010
2nd Qtr JUN 0.001 0.001 0.004 0.010
3rd Qtr SEP 0.001 -0.015 0.002 0.010
4th Qtr DEC -0.120 -0.030 0.004
Private Placement FY'97, 2,974,653 shares @ $.75.
DIVIDENDS EMPLOYEES
Last Dividend Decl. $ NA # Employees 446
Last Div Ex-Date NA Sales/Employee (TTM) 43,045
Last Div Pay Date NA Net. Income/Empl.(TTM) 2,004
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Alpha Pro Tech, Ltd. COMPANY COMPARISON Page 3 of 10
TO THE MEDICAL SUPPLY AND S&P 500 AGGREGATES
VALUATION RATIOS: COMPANY INDUSTRY S&P 500
P/E Ratio 18.92 41.35 37.94
Dividend Yield 0.00 0.86 1.12
Price to Tangible Book 2.61 14.14 12.56
Price to Book 2.50 8.74 9.04
Price to Free Cash Flow 50.00 45.52 48.78
GROWTH STATISTICS:
3 Yr Rev Growth 11.34 19.86 15.63
3 Yr EPS Growth NM 8.44 19.19
3 Yr Div Growth NM 16.48 11.39
Reinvestment Rate 100.00 74.95 73.00
PROFITABILITY RATIOS:
Net Profit Margin 4.66 11.14 11.44
Return on Equity 14.29 20.65 22.08
Interest Coverage NM 28.07 9.80
FINANCIAL STRENGTH RATIOS:
Current Ratio 2.16 2.39 1.49
LT Debt to Equity 0.04 0.34 0.76
Total Debt to Equity 0.25 0.46 0.98
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Alpha Pro Tech, Ltd. TRADING & PRICE PERFORMANCE Page 4 of 10
INSTITUTIONAL OWNERSHIP INSIDER TRADING (Prev. 6 months)
% Shares Out. Owned NA % Net Insider Trades NA
# of Institutions NA # Buy Transactions NA
Total Shs Held NA Mil # Sell Transactions NA
3 Mo. Net Purch. NA Mil Net Shares Bought NA Mil
3 Mo. Shs Purch. NA Mil # Shares Bought NA Mil
3 Mo. Shs Sold NA Mil # Shares Sold NA Mil
4 Week Price % Change -6.7% 4 Week Rel. Price % Change -8.0%
13 Week Price % Change -20.0% 13 Week Rel. Price % Change -23.7%
26 Week Price % Change -16.7% 26 Week Rel. Price % Change -23.9%
52 Week Price % Change 15.9% 52 Week Rel. Price % Change -4.6%
YTD Week Price % Change 45.8% YTD Week Rel. Price % Change 26.5%
MARKET MAKERS: MHMY SHRP NITE FRAN HILL
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Alpha Pro Tech, Ltd. EQUITY, OFFICERS & ADDRESS Page 5 of 10
Common Stock $.01 Par, 11/99, 50M auth., 24,112,449 issd.
Insiders control approx. 18%. Cede & Co. owns 66%. 4/89,
3.5M shares issd. for acq. of BFD, Inc. Priv. Plcmt. FY'94,
432,964 shares @ $.75. Priv. Plcmt. FY'95, 1,802,649 shares
@ $.75. (As of 12/98) LTD: $929K @ Prime + 2%, $327K @
Prime + 2.25%, $272K in capital leases.
OFFICERS: Alexander W. Millar, Pres., Sheldon Hoffman,
CEO/CFO, Lloyd Hoffman, VP/Contr./CAO. TRANSFER AGENT:
American Stock Transfer & Trust Company. Company
reincorporated 1994 in DE. Direct inquiries to: Director
of Investor Relations.
ADDRESS & PHONE NUMBERS
Alpha Pro Tech, Ltd.
60 Centurian Drive, Suite 112
Markham, Ontario
L3R 9R2
Canada
PHONE: (905) 479-0654
FAX: (905) 479-9732
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Alpha Pro Tech, Ltd. ANNUAL INCOME STATEMENT Page 6 of 10
(Thousands of U.S. Dollars)
12M 12/31/95 12M 12/31/96 12M 12/31/97 12M 12/31/98
Net Sales 13,031 14,863 17,823 17,985
Total Revenue 13,031 14,863 17,823 17,985
Cost of Goods Sold 8,562 9,665 11,594 10,733
Selling/Gen./Admin. 4,342 4,610 6,531 6,341
Depreciation/Amort. 618 254 319 402
Asset Impairment 4,922 0 0 0
Exchange of Shares 0 2,204 0 0
Total Expenses 18,444 16,733 18,444 17,476
Operating Income -5,413 -1,870 -621 509
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Alpha Pro Tech, Ltd. ANNUAL INCOME STATEMENT Page 7 of 10
(Thousands of U.S. Dollars)
12M 12/31/95 12M 12/31/96 12M 12/31/97 12M 12/31/98
Operating Income -5,413 -1,870 -621 509
Interest, Net -563 -279 -308 -193
Minority Int./Other 5 4 0 0
Income Before Taxes -5,971 -2,145 -929 316
Income Taxes 0 0 0 0
Income After Taxes -5,971 -2,145 -929 316
Pri/Bas EPS Ex. XOrd -0.361 -0.120 -0.040 0.013
Pri/Bas EPS In. XOrd -0.361 -0.120 -0.040 0.013
Primary/Basic Avg Sh 16,533.29 17,841.55 23,388.37 24,112.45
Common Dividends/Shr 0.0000 0.0000 0.0000 0.0000
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Alpha Pro Tech, Ltd. SELECTED INCOME STATEMENT Page 8 of 10
(Thousands of U.S. Dollars)
QUARTERS YEAR TO DATE
3M 09/30/98 3M 09/30/99 9M 09/30/98 9M 09/30/99
Revenue 4,231 5,176 13,674 14,887
Operating Expenses 4,148 4,894 13,312 13,973
Operating Income 83 282 362 914
Non-Operating Income -42 -41 -147 -121
Non-Operating Expenses 0 0 0 0
Income Before Taxes 41 241 215 793
Income Taxes 0 0 0 0
Adjustments to Income 0 0 0 0
Inc. for Primary EPS 41 241 215 793
Pri/Bas EPS Ex. XOrd 0.002 0.010 0.009 0.033
Disc Opns + Xord Items 0 0 0 0
Pri/Bas EPS In. XOrd 0.002 0.010 0.009 0.033
Primary/Basic Avg Sh 24,112.45 24,112.45 24,112.45 24,112.45
Dilutd EPS Excl XOrd 0.002 0.010 0.009 0.033
Dilutd EPS Incl XOrd 0.002 0.010 0.009 0.033
Common Dividends/Shr 0.000 0.000 0.000 0.000
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Alpha Pro Tech, Ltd. SELECTED BALANCE SHEET Page 9 of 10
(Thousands of U.S. Dollars)
YEAR ENDING QUARTER ENDING
12/31/97 12/31/98 09/30/98 09/30/99
Cash & ST Investments 490 43 252 613
Receivables 2,805 3,038 2,749 3,826
Total Current Assets 7,411 6,230 6,588 7,844
LT Investments 0 0 0 0
Fixed Assets 2,084 2,125 2,111 2,218
Total Assets 9,985 8,938 9,231 10,667
Accounts Payable 2,142 983 1,214 1,700
ST Debt & Curr LTD 1,163 1,122 1,152 1,405
Total Current Liab. 3,799 2,579 2,926 3,625
LT Debt & Cap Leases 549 406 453 293
Total Liabilities 4,348 2,985 3,379 3,918
Preferred Stock 0 0 0 0
Common/Paid In Capital 24,579 24,579 24,579 24,583
Retained Earnings -18,942 -18,626 -18,727 -17,834
Total Equity 5,637 5,953 5,852 6,749
Shares Outstanding 24,112 24,112 24,112 24,112
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Alpha Pro Tech, Ltd. SELECTED STMT OF CASH FLOWS Page 10 of 10
INDIRECT METHOD (Thousands of U.S. Dollars)
ANNUAL YEAR TO DATE
12M 12/31/97 12M 12/31/98 9M 09/30/98 9M 09/30/99
Net Income -929 316 215 792
Depreciation & Amort. 319 402 300 326
Non Cash Items 120 110 0 0
Total Operating CF -1,702 180 221 840
Capital Expenditures -534 -390 -328 -405
Total Investing CF -604 -390 -369 -440
Dividends Paid 0 0 0 0
Sale (Purch.) of Stock 2,463 0 0 0
Net Borrowings 77 -237 -107 170
Total Financing CF 2,521 -237 -107 170
Exchange Rate Effect 0 0 0 0
Net Change In Cash 215 -447 -255 570
Oper CF-Cap Exp-Div Pd -2,236 -210 -107 435
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