Alpha Pro Tech Ltd. Files Q3 2024 10-Q
Ticker: APT · Form: 10-Q · Filed: Nov 7, 2024 · CIK: 884269
| Field | Detail |
|---|---|
| Company | Alpha Pro Tech LTD (APT) |
| Form Type | 10-Q |
| Filed Date | Nov 7, 2024 |
| Risk Level | low |
| Pages | 14 |
| Reading Time | 17 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, quarterly-report, financials
TL;DR
ALPHA PRO TECH LTD Q3 2024 10-Q FILED. CHECK FINANCIALS.
AI Summary
Alpha Pro Tech Ltd. reported its Q3 2024 results for the period ending September 30, 2024. The company's financial performance for the nine months and three months ended September 30, 2024, is detailed in this 10-Q filing. Specific financial figures and operational updates are provided within the document.
Why It Matters
This filing provides investors and stakeholders with the latest financial performance and operational details for Alpha Pro Tech Ltd. during the third quarter of 2024.
Risk Assessment
Risk Level: low — This is a routine quarterly filing providing financial updates, with no immediate high-risk indicators apparent.
Key Numbers
- 2024-09-30 — Report End Date (Quarterly reporting period)
- 2024-01-01 — Report Start Date (Quarterly reporting period)
Key Players & Entities
- ALPHA PRO TECH LTD (company) — Filer
- 20240930 (date) — Period of Report
- 20241107 (date) — Filing Date
- 53 WELLINGTON STREET EAST, AURORA, A6, L4G 1H6 (address) — Business and Mail Address
- BFD INDUSTRIES INC (company) — Former Company Name
FAQ
What is the reporting period for this 10-Q filing?
The 10-Q filing is for the period of report ending September 30, 2024.
When was this 10-Q filing submitted to the SEC?
This 10-Q filing was filed as of November 7, 2024.
What is the company's primary business address?
The company's business address is 53 Wellington Street East, Aurora, A6, L4G 1H6.
What was the company's former name?
The company's former name was BFD INDUSTRIES INC.
What is the Standard Industrial Classification code for Alpha Pro Tech Ltd.?
The Standard Industrial Classification code is 3842, for Orthopedic, Prosthetic & Surgical Appliances & Supplies.
Filing Stats: 4,333 words · 17 min read · ~14 pages · Grade level 14.5 · Accepted 2024-11-07 14:33:17
Key Financial Figures
- $0.01 — ge on which registered Common Stock , $0.01 par value APT NYSE American Indica
Filing Documents
- apt20240930_10q.htm (10-Q) — 948KB
- ex_741993.htm (EX-31.1) — 14KB
- ex_741994.htm (EX-31.2) — 13KB
- ex_741995.htm (EX-32.1) — 8KB
- ex_741996.htm (EX-32.2) — 6KB
- 0001437749-24-033866.txt ( ) — 4592KB
- apt-20240930.xsd (EX-101.SCH) — 42KB
- apt-20240930_def.xml (EX-101.DEF) — 268KB
- apt-20240930_lab.xml (EX-101.LAB) — 223KB
- apt-20240930_pre.xml (EX-101.PRE) — 302KB
- apt-20240930_cal.xml (EX-101.CAL) — 36KB
- apt20240930_10q_htm.xml (XML) — 633KB
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) September 30, December 31, 2024 2023 (1) Assets Current assets: Cash and cash equivalents $ 18,394,000 $ 20,378,000 Accounts receivable, net 5,626,000 5,503,000 Accounts receivable, related party 645,000 1,042,000 Inventories, net 21,077,000 20,131,000 Prepaid expenses 5,668,000 6,010,000 Total current assets 51,410,000 53,064,000 Property and equipment, net 7,216,000 5,587,000 Goodwill 55,000 55,000 Right-of-use assets 8,939,000 4,810,000 Equity investment in unconsolidated affiliate 5,705,000 5,247,000 Total assets $ 73,325,000 $ 68,763,000 Liabilities and Shareholders' Equity Current liabilities: Accounts payable $ 934,000 $ 802,000 Accrued liabilities 901,000 1,103,000 Lease liabilities 871,000 661,000 Total current liabilities 2,706,000 2,566,000 Lease liabilities, net of current portion 8,113,000 4,187,000 Deferred income tax liabilities, net 442,000 442,000 Total liabilities 11,261,000 7,195,000 Commitments and contingencies Shareholders' equity: Common stock, $ .01 par value: 50,000,000 shares authorized; 10,952,878 and 11,416,212 shares outstanding as of September 30, 2024 and December 31, 2023, respectively 110,000 114,000 Additional paid-in capital 16,442,000 16,339,000 Retained earnings 46,926,000 46,552,000 Accumulated other comprehensive loss ( 1,414,000 ) ( 1,437,000 ) Total shareholders' equity 62,064,000 61,568,000 Total liabilities and shareholders' equity $ 73,325,000 $ 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