APTD previous news, making $$ these dudes.
Alpha Pro Tech Reports Record Third Quarter and Nine Months Sales and
Earnings Marking Seventh Consecutive Quarter of Profitability
NOGALES, Ariz.--(BUSINESS WIRE)--Nov. 8, 1999--ALPHA PRO TECH, LTD. (OTCBB:APTD - news), 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 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® 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; Nogales, Arizona; Janesville, Wisconsin; Valdosta, Georgia; and
Benjamin Hill and Nogales, Mexico.
The Private Securities Litigation Reform Act of 1995 (''Act'') provides a safe harbor 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.
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
Contact:
Alpha Pro Tech, LTD.
Al Millar, President
or
Donna Millar, Investor Relations
905/479-0654 |
