Alpha Pro Tech Ltd. Files Q1 2024 10-Q Report

TL;DR

<b>Alpha Pro Tech Ltd. filed its Q1 2024 10-Q report, detailing financial performance for the quarter ending March 31, 2024.</b>

AI Summary

ALPHA PRO TECH LTD (APT) filed a Quarterly Report (10-Q) with the SEC on May 9, 2024. Alpha Pro Tech Ltd. filed its Q1 2024 10-Q report on May 9, 2024. The report covers the period ending March 31, 2024. The company's fiscal year ends on December 31. Alpha Pro Tech Ltd. was formerly known as BFD INDUSTRIES INC. The company is incorporated in Delaware.

Why It Matters

For investors and stakeholders tracking ALPHA PRO TECH LTD, this filing contains several important signals. This filing provides investors with the latest financial data and operational updates for Alpha Pro Tech Ltd. Understanding the Q1 2024 performance is crucial for assessing the company's current financial health and future prospects.

Risk Assessment

Risk Level: — ALPHA PRO TECH LTD shows moderate risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain immediate, significant financial shifts or new material risks beyond routine disclosures.

Analyst Insight

Review the detailed financial statements and segment performance within the 10-Q to understand revenue trends and operational efficiency.

Key Numbers

• 2024-03-31 — Period End Date (CONFORMED PERIOD OF REPORT)
• 2024-05-09 — Filing Date (FILED AS OF DATE)
• 1993-03-28 — Date of Name Change (FORMER COMPANY)

Key Players & Entities

• ALPHA PRO TECH LTD (company) — FILER
• BFD INDUSTRIES INC (company) — FORMER COMPANY
• DE (company) — STATE OF INCORPORATION
• 2024-03-31 (date) — CONFORMED PERIOD OF REPORT
• 2024-05-09 (date) — FILED AS OF DATE

FAQ

Industry Context

Alpha Pro Tech Ltd. operates within the Orthopedic, Prosthetic & Surgical Appliances & Supplies industry (SIC 3842).

Regulatory Implications

The filing is a standard 10-Q, adhering to the reporting requirements of the Securities Exchange Act of 1934.

What Investors Should Do

1. Analyze the company's segment reporting for Disposable Protective Apparel and Building Supply.
2. Review any disclosed legal proceedings or risk factors.
3. Compare Q1 2024 financial metrics against prior periods if available in the full document.

Key Dates

• 2024-03-31: Quarter End — End of the reporting period for the 10-Q filing.
• 2024-05-09: Filing Date — Date the 10-Q report was officially filed with the SEC.

Year-Over-Year Comparison

This is the initial filing analyzed, so no comparison to a previous filing is available.

Key Financial Figures

• $0.01 — ge on which registered Common Stock , $0.01 par value APT NYSE American Indica

Filing Documents

• apt20240331_10q.htm (10-Q) — 694KB
• ex_670097.htm (EX-10.1) — 49KB
• ex_670098.htm (EX-10.2) — 46KB
• ex_667461.htm (EX-31.1) — 13KB
• ex_667462.htm (EX-31.2) — 13KB
• ex_667463.htm (EX-32.1) — 6KB
• ex_667464.htm (EX-32.2) — 7KB
• 0001437749-24-015624.txt (&nbsp;) — 4052KB
• apt-20240331.xsd (EX-101.SCH) — 41KB
• apt-20240331_def.xml (EX-101.DEF) — 258KB
• apt-20240331_lab.xml (EX-101.LAB) — 222KB
• apt-20240331_pre.xml (EX-101.PRE) — 290KB
• apt-20240331_cal.xml (EX-101.CAL) — 34KB
• apt20240331_10q_htm.xml (XML) — 480KB

Financial Statements

Financial Statements Condensed Consolidated Balance Sheets (Unaudited) 1 Condensed Consolidated Statements of Income (Unaudited) 2 Condensed Consolidated Statements of Comprehensive Income (Unaudited) 3 Condensed Consolidated Statements of Shareholders' Equity (Unaudited) 4 Condensed Consolidated Statements of Cash Flows (Unaudited) 5 Notes to Condensed Consolidated Financial Statements (Unaudited) 6 ITEM 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 15 ITEM 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 21 ITEM 4.

Controls and Procedures

Controls and Procedures 21 PART II. OTHER INFORMATION ITEM I.

Legal Proceedings

Legal Proceedings 22 ITEM IA.

Risk Factors

Risk Factors 22 ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds 22 ITEM 5. Other Information 23 ITEM 6. Exhibits 24

SIGNATURES

SIGNATURES 25 EXHIBITS Alpha Pro Tech, Ltd.

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS Condensed Consolidated Balance Sheets (Unaudited) March 31, December 31, 2024 2023 (1) Assets Current assets: Cash and cash equivalents $ 18,510,000 $ 20,378,000 Accounts receivable, net 6,426,000 5,503,000 Accounts receivable, related party 1,057,000 1,042,000 Inventories, net 20,769,000 20,131,000 Prepaid expenses 5,627,000 6,010,000 Total current assets 52,389,000 53,064,000 Property and equipment, net 5,426,000 5,587,000 Goodwill 55,000 55,000 Right-of-use assets 9,451,000 4,810,000 Equity investment in unconsolidated affiliate 5,391,000 5,247,000 Total assets $ 72,712,000 $ 68,763,000 Liabilities and Shareholders' Equity Current liabilities: Accounts payable $ 713,000 $ 802,000 Accrued liabilities 449,000 1,103,000 Lease liabilities 903,000 661,000 Total current liabilities 2,065,000 2,566,000 Lease liabilities, net of current portion 8,562,000 4,187,000 Deferred income tax liabilities, net 442,000 442,000 Total liabilities 11,069,000 7,195,000 Commitments and contingencies Shareholders' equity: Common stock, $ .01 par value: 50,000,000 shares authorized; 11,372,878 and 11,416,212 shares outstanding as of March 31, 2024 and December 31, 2023, respectively 114,000 114,000 Additional paid-in capital 16,861,000 16,339,000 Retained earnings 46,099,000 46,552,000 Accumulated other comprehensive loss ( 1,431,000 ) ( 1,437,000 ) Total shareholders' equity 61,643,000 61,568,000 Total liabilities and shareholders' equity $ 72,712,000 $ 68,763,000 (1) The condensed consolidated balance sheet as of December 31, 2023, has been prepared using information from the audited consolidated balance sheet as of that date. See accompanying Notes to Condensed Consolidated Financial Statements (Unaudited). 1 Alpha Pro Tech, Ltd. Condensed Consolidated Statements of Income (Unaudited) For the Three Mo

View Full Filing

View this 10-Q filing on SEC EDGAR