A
ALPHA PRO TECH LTD
APTCIK 0000884269NYSENon-AcceleratedSmaller ReportingOrthopedic, Prosthetic & Surgical Appliances & SuppliesDelawareFY ends Dec 31
Period
FY 2025
Revenue
—
Net Income
$3.53M
Total Assets
$74.13M
Equity
$62.48M
Shares Out
10.19M
Op. Cash Flow
$2.37M
Business
ALPHA PRO TECH LTD develops, manufactures and markets protective products that safeguard people, products and environments. It offers disposable protective apparel (shoecovers, bouffant caps, gowns, coveralls, lab coats, frocks), face masks and face shields, plus building supply weatherization products including housewrap, flashing, seam tape, synthetic roof underlayment and related accessories. The business operates through two segments: Building Supply and Disposable Protective Apparel. Products are sold under the Alpha Pro Tech brand and private label, primarily in the United States through distributors, purchasing groups and direct sales channels.
Summary from filing dated 2025-03-12
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Net sales | 59 | 58 | 61 | 62 | 69 | |
| Cost of goods sold, excluding depreciation and amortization | 37 | 35 | 38 | 40 | 43 | |
| Gross profit | 23 | 23 | 23 | 22 | 25 | |
| Selling, general and administrative | 18 | 19 | 18 | 16 | 17 | |
| Depreciation and amortization | 925,000 | 873,000 | 925,000 | 814,000 | 817,000 | |
| Total operating expenses | 19 | 19 | 19 | 17 | 17 | |
| Income from operations | 4 | 3 | 4 | 5 | 8 | |
| Equity in income of unconsolidated affiliate | 182,000 | 629,000 | 477,000 | 87,000 | 571,000 | |
| Gain on sale of property and equipment | 0 | 30,000 | 0 | — | — | |
| Interest income, net | 648,000 | 912,000 | 816,000 | 148,000 | 2,000 | |
| Total other income | 830,000 | 2 | 1 | −255,000 | 573,000 | |
| Income before provision for income taxes | 5 | 5 | 5 | 4 | 9 | |
| Provision for income taxes | 1 | 1 | 1 | 1 | 2 | |
| Net income | 4 | 4 | 4 | 3 | 7 | |
| Basic earnings per common share (in dollars per share) | 0.34 | 0.35 | 0.35 | 0.26 | 0.51 | |
| Diluted earnings per common share (in dollars per share) | 0.33 | 0.35 | 0.35 | 0.26 | 0.5 | |
| Basic weighted average common shares outstanding (in shares) | 10 | 11 | 12 | 13 | 13 | |
| Diluted weighted average common shares outstanding (in shares) | 11 | 11 | 12 | 13 | 13 |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2023 2023-09-30 | FY 2023 2023-06-30 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 17 | 19 | 20 | — | — | |
| Inventories, net | 24 | 23 | 20 | — | — | |
| Prepaid expenses | 4 | 4 | 6 | — | — | |
| Total current assets | 53 | 51 | 53 | — | — | |
| Property and equipment, net | 8 | 9 | 6 | — | — | |
| Goodwill | 55,000 | 55,000 | 55,000 | — | — | |
| Right-of-use assets | 8 | 9 | 5 | — | — | |
| Equity investment in unconsolidated affiliate | 6 | 6 | 5 | — | — | |
| Total assets | 74 | 74 | 69 | — | — | |
| Accounts payable | 2 | 1 | 802,000 | — | — | |
| Accrued liabilities | 1 | 947,000 | 1 | — | — | |
| Lease liabilities | 965,000 | 893,000 | 661,000 | — | — | |
| Total current liabilities | 4 | 3 | 3 | — | — | |
| Lease liabilities, net of current portion | 7 | 8 | 4 | — | — | |
| Deferred income tax liabilities, net | 679,000 | 503,000 | 442,000 | — | — | |
| Total liabilities | 12 | 12 | 7 | — | — | |
| Commitments and contingincies | — | — | — | — | — | |
| Common stock, $.01 par value: 50,000,000 shares authorized; 10,131,565 and 10,816,878 shares outstanding as of December 31, 2025 and December 31, 2024, respectively | 101,000 | 108,000 | 114,000 | — | — | |
| Additional paid-in capital | 16 | 16 | 16 | 17 | 17 | |
| Retained earnings | 48 | 47 | 47 | 46 | 45 | |
| Accumulated other comprehensive loss | −2 | −1 | −1 | — | — | |
| Total shareholders' equity | 62 | 62 | 62 | 61 | 61 | |
| Total liabilities and shareholders' equity | 74 | 74 | 69 | 65 | 64 |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Stock-based compensation | 540,000 | 463,000 | 170,000 | 147,000 | 315,000 | |
| Non-cash lease expense | 939,000 | 899,000 | 774,000 | 923,000 | 887,000 | |
| Deferred income taxes | 176,000 | 61,000 | −322,000 | −27,000 | 228,000 | |
| Accounts receivable, net | −3 | 2 | −121,000 | −2 | 5 | |
| Accounts receivable, related party | 0 | −160,000 | 549,000 | −208,000 | −478,000 | |
| Inventory, net | −865,000 | −3 | 4 | 572,000 | −8 | |
| Prepaid expenses | 580,000 | 2 | −1 | 2 | −856,000 | |
| Accounts payable and accrued liabilities | 863,000 | 325,000 | 398,000 | −271,000 | −3 | |
| Lease liabilities | −893,000 | −876,000 | −785,000 | −926,000 | −886,000 | |
| Net cash provided by operating activities | 2 | 6 | 8 | 4 | −480,000 | |
| Purchases of property and equipment | −639,000 | −4 | −792,000 | −492,000 | −3 | |
| Proceeds from sale of property and equipment | 0 | 30,000 | 0 | — | — | |
| Net cash used in investing activities | −639,000 | −4 | −792,000 | — | −3 | |
| Proceeds from exercise of stock options | 0 | 832,000 | 464,000 | 80,000 | 427,000 | |
| Repurchase of common stock | −3 | −4 | −4 | −4 | −4 | |
| Treasury stock excise tax | −34,000 | −44,000 | −40,000 | 0 | — | |
| Net cash used in financing activities | −3 | −4 | −4 | −4 | −4 | |
| Decrease in cash and cash equivalents | −2 | −2 | 4 | −17,000 | −7 | |
| Cash paid for income taxes | 890,000 | 1 | 2 | 443,000 | 2 | |
| Net non-cash changes to operating leases | 0 | 5 | 4 | 0 | — |
Filings
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