NEWS!!!!!!!!!!!!
IT LOOKS AS THOUGH THE TURNAROUND IS HERE!
SALT LAKE CITY--(BUSINESS WIRE)--Nov. 11, 1996--Alpha Pro Tech,
Ltd. (OTC:APTD) today announced its results for the third quarter
and nine months ended September 30, 1996.
For the three months ended Sept. 30, 1996, consolidated net
sales rose to $3,772,000 compared to $3,177,000 in the similar period
last year, an increase of 18.7%. Leading the advance in third
quarter 1996 net sales was the performance of the Company's Apparel
Division where sales totaled $2,121,000, versus $1,464,000 in the
comparable 1995 period, a gain of 44.9% Mask and eye shield sales
were $1,131,000 for the 1996 third quarter, virtually unchanged from
the $1,129,000 posted in the third quarter of 1995. Sales from the
Company's Unreal Lambskin(R) and other related products decreased by
11% to $520,000 during the 1996 third quarter from $584,000 in the
three months ended Sept. 30, 1995. Net income for the 1996 third
quarter increased to $26,000 compared to a loss of $400,000 in the
similar 1995 period.
For the nine months ended Sept. 30, 1996 consolidated net sales
rose to $11,231,000 versus $9,893,000 for the nine months ended
Sept. 30, 1995, an increase of 13.5%. The increase in nine month
sales is attributable to an increase in Apparel Division sales of
54.1%, which was offset by a decrease in mask and eye shield
products of 3.4% and a decrease in Unreal Lambskin of 22.1%. Net
income for the nine months ended Sept. 30, 1996 was $96,000 compared
to a loss of $385,000 for the nine months ended Sept. 30, 1995.
Al Millar, President of Alpha Pro Tech, Ltd, commented, "We
continue to be encouraged by the strong performance of the Apparel
Division where we expect a continuation of rapid growth. We expect
sales of mask and eye shield products to remain relatively flat for
the remainder of 1996. However, with new products being introduced
in the Unreal Lambskin(R) area, we expect these sales to improve in
the months ahead. While sales of the food service line of products
had negligible impact in the current quarter, we expect that
beginning in the fourth quarter of 1996 sales will begin to build.
To that extent, our distribution agreement with Chicopee, Inc. for
the Aqua Trak Black(TM) protective shoe cover will be of key
importance. Chicopee reports a very positive response to the
product and we remain optimistic that a large potential market
exists for the shoe cover which helps prevent costly slip-fall
accidents in the food service industry."
Al Millar continued, "We are particularly pleased with our
continued profitability and further improvement in this area remains
a top management priority."
Alpha Pro Tech develops, manufactures and markets innovative
disposable protective apparel products for the medical, dental,
industrial, clean room and food service markets. The Company has
manufacturing facilities in Salt Lake City; Nogales, Arizona:
Janesville, Wisc.; Valdost, Ga; and Benjamin Hill and Nogales,
Mexico.
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*T
Alpha Pro Tech Ltd.
Financial Summary
(unaudited)
For 3 months ended
Sept. 30, 1996 Sept. 30, 1995
Sales $3,772,000 $3,177,000
Net income $26,000 $(400,000)
Earnings per share $0.00 $(0.02)
Weighted average number
of shares outstanding 20,512,130 19,840,937
For 9 months ended
Sept. 30, 1996 Sept. 30, 1995
Sales $11,231,000 $9,893,000
Net income $96,000 $(385,000)
Earnings per share $0.00 $(0.02)
Weighted average number
of shares outstanding 20,163,671 18,832,883
Alpha Pro Tech Ltd.
Select Balance Sheet Items
Sept. 30, 1996 Dec. 31, 1995
(unaudited)
Cash $453,000 $344,000
Current assets $5,868,000 $4,860,000
Current liabilities $3,760,000 $3,166,000
Stockholders equity $3,758,000 $3,004,000
*T
Note to Editors: This press release contains forward looking
statements. Actual future results may differ materially from those
projected. Additional concerning factors that could influence
future results is contained in Alpha Pro Tech's filings with the
Securities and Exchange Commission, copies of which are available
from the company.
CONTACT:
Alpha Pro Tech
Al Millar/Donna Millar, 905/479-0654
KEYWORD: UTAH ARIZONA GEORGIA WISCONSIN
INDUSTRY KEYWORD: APPAREL/TEXTILES MEDICINE EARNINGS
BW1277 NOV 11,1996
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