Alpha Pro Tech Ltd. Files Q2 2024 10-Q

TL;DR

Alpha Pro Tech filed its Q2 10-Q. Financials are in.

AI Summary

Alpha Pro Tech Ltd. filed its 10-Q for the period ending June 30, 2024. The company, incorporated in Delaware and operating in the orthopedic, prosthetic & surgical appliances sector, reported its financial performance. Key financial data and operational details for the second quarter of 2024 are presented in this filing.

Why It Matters

This filing provides investors and analysts with the latest financial performance and operational updates for Alpha Pro Tech Ltd., crucial for understanding the company's current standing and future prospects.

Risk Assessment

Risk Level: low — This is a standard quarterly financial filing with no immediate red flags or significant new risks highlighted.

Key Numbers

• 20240630 — Period End Date (The filing covers the financial period ending on this date.)
• 20240808 — Filing Date (The date the 10-Q was officially submitted to the SEC.)

Key Players & Entities

• ALPHA PRO TECH LTD (company) — Filer
• 0000884269 (company) — Central Index Key
• 20240630 (date) — Period of Report
• 20240808 (date) — Filed as of Date
• 9054790654 (dollar_amount) — Business Phone

FAQ

Key Financial Figures

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

Filing Documents

• apt20240630_10q.htm (10-Q) — 893KB
• ex_708108.htm (EX-31.1) — 15KB
• ex_708109.htm (EX-31.2) — 16KB
• ex_708110.htm (EX-32.1) — 8KB
• ex_708111.htm (EX-32.2) — 7KB
• 0001437749-24-025421.txt ( ) — 4390KB
• apt-20240630.xsd (EX-101.SCH) — 41KB
• apt-20240630_def.xml (EX-101.DEF) — 258KB
• apt-20240630_lab.xml (EX-101.LAB) — 222KB
• apt-20240630_pre.xml (EX-101.PRE) — 290KB
• apt-20240630_cal.xml (EX-101.CAL) — 34KB
• apt20240630_10q_htm.xml (XML) — 614KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

ITEM 1. Financial Statements page 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

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

ITEM 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 15

Quantitative and Qualitative Disclosures about Market Risk

ITEM 3. Quantitative and Qualitative Disclosures about Market Risk 22

Controls and Procedures

ITEM 4. Controls and Procedures 22

OTHER INFORMATION

PART II. OTHER INFORMATION ITEM I. Legal Proceedings 23 ITEM IA. Risk Factors 23

Unregistered Sales of Equity Securities and Use of Proceeds

ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds 23

Other Information

ITEM 5. Other Information 24

Exhibits

ITEM 6. Exhibits 25

SIGNATURES

SIGNATURES 26 EXHIBITS Alpha Pro Tech, Ltd.

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS Condensed Consolidated Balance Sheets (Unaudited) June 30, December 31, 2024 2023 (1) Assets Current assets: Cash and cash equivalents $ 16,207,000 $ 20,378,000 Accounts receivable, net 8,263,000 5,503,000 Accounts receivable, related party 584,000 1,042,000 Inventories, net 20,785,000 20,131,000 Prepaid expenses 6,752,000 6,010,000 Total current assets 52,591,000 53,064,000 Property and equipment, net 5,314,000 5,587,000 Goodwill 55,000 55,000 Right-of-use assets 9,179,000 4,810,000 Equity investment in unconsolidated affiliate 5,533,000 5,247,000 Total assets $ 72,672,000 $ 68,763,000 Liabilities and Shareholders' Equity Current liabilities: Accounts payable $ 343,000 $ 802,000 Accrued liabilities 639,000 1,103,000 Lease liabilities 868,000 661,000 Total current liabilities 1,850,000 2,566,000 Lease liabilities, net of current portion 8,339,000 4,187,000 Deferred income tax liabilities, net 442,000 442,000 Total liabilities 10,631,000 7,195,000 Commitments and contingencies Shareholders' equity: Common stock, $ .01 par value: 50,000,000 shares authorized; 11,127,878 and 11,416,212 shares outstanding as of June 30, 2024 and December 31, 2023, respectively 111,000 114,000 Additional paid-in capital 16,594,000 16,339,000 Retained earnings 46,825,000 46,552,000 Accumulated other comprehensive loss ( 1,489,000 ) ( 1,437,000 ) Total shareholders' equity 62,041,000 61,568,000 Total liabilities and shareholders' equity $ 72,672,000 $ 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 Months

View Full Filing

View this 10-Q filing on SEC EDGAR