10-Q Filing

ALPHA PRO TECH LTD CIK: 884269 Q1 2014

Filing Information

Form Type	10-Q
Accession Number	`0001437749-14-008127`
Period End Date	20140331
Filing Date	20140507
Fiscal Year	2014
Fiscal Period	Q1
XBRL Instance	apt-20140331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 56 Income Statement 35 Cash Flow Statement 40 Stockholders Equity 15 Comprehensive Income 10

Balance Sheet 56 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts (in Dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$85.00K	USD	Point-in-time
Allowance for doubtful accounts (in Dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$99.00K	USD	Point-in-time
Common stock, par value (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.86M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.55M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.33M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$8.21M	USD	Point-in-time
Investments	`AvailableForSaleSecuritiesCurrent`	$2.23M	USD	Point-in-time
Investments	`AvailableForSaleSecuritiesCurrent`	$1.61M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	18.64M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	18.88M	shares	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $99,000 and $85,000 as of March 31, 2014 and December 31, 2013, respectively	`AccountsReceivableNetCurrent`	$5.07M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $99,000 and $85,000 as of March 31, 2014 and December 31, 2013, respectively	`AccountsReceivableNetCurrent`	$7.13M	USD	Point-in-time
Inventories	`InventoryNet`	$14.14M	USD	Point-in-time
Inventories	`InventoryNet`	$14.48M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$3.26M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$2.97M	USD	Point-in-time
Deferred income tax assets	`DeferredTaxAssetsNetCurrent`	$640.00K	USD	Point-in-time
Deferred income tax assets	`DeferredTaxAssetsNetCurrent`	$640.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$32.61M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$32.64M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$2.94M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$3.07M	USD	Point-in-time
Goodwill	`Goodwill`	$55.00K	USD	Point-in-time
Goodwill	`Goodwill`	$55.00K	USD	Point-in-time
Definite-lived intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$87.00K	USD	Point-in-time
Definite-lived intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$92.00K	USD	Point-in-time
Equity investments in unconsolidated affiliate	`InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures`	$2.71M	USD	Point-in-time
Equity investments in unconsolidated affiliate	`InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures`	$2.82M	USD	Point-in-time
Total assets	`Assets`	$38.51M	USD	Point-in-time
Total assets	`Assets`	$38.56M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$847.00K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$689.00K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$583.00K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$1.04M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.43M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.73M	USD	Point-in-time
Deferred income tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$1.41M	USD	Point-in-time
Deferred income tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$1.26M	USD	Point-in-time
Total liabilities	`Liabilities`	$2.98M	USD	Point-in-time
Total liabilities	`Liabilities`	$2.84M	USD	Point-in-time
Common stock, $.01 par value: 50,000,000 shares authorized; 18,638,909 and 18,878,109 shares outstanding as of March 31, 2014 and December 31, 2013, respectively	`CommonStockValue`	$189.00K	USD	Point-in-time
Common stock, $.01 par value: 50,000,000 shares authorized; 18,638,909 and 18,878,109 shares outstanding as of March 31, 2014 and December 31, 2013, respectively	`CommonStockValue`	$186.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$18.48M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$18.99M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$625.00K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$963.00K	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$15.77M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$16.04M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$35.58M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$35.67M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$38.51M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$38.56M	USD	Point-in-time

Income Statement 35 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueGoodsNet`	$9.96M	USD	1 Quarter
Net sales	`SalesRevenueGoodsNet`	$9.45M	USD	1 Quarter
Cost of goods sold, excluding depreciation and amortization	`CostOfGoodsSold`	$5.79M	USD	1 Quarter
Cost of goods sold, excluding depreciation and amortization	`CostOfGoodsSold`	$6.35M	USD	1 Quarter
Gross profit	`GrossProfit`	$3.66M	USD	1 Quarter
Gross profit	`GrossProfit`	$3.61M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$3.51M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$3.37M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$188.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$181.00K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$3.56M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$3.69M	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$-30.00K	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$51.00K	USD	1 Quarter
Equity in income of unconsolidated affiliate	`IncomeLossFromEquityMethodInvestments`	$33.00K	USD	1 Quarter
Equity in income of unconsolidated affiliate	`IncomeLossFromEquityMethodInvestments`	$110.00K	USD	1 Quarter
Gain on investments in common stock and common stock warrants	`GainLossOnDerivativeInstrumentsNetPretax`	$191.00K	USD	1 Quarter
Interest income	`InterestIncomeExpenseNonoperatingNet`	$1.00K	USD	1 Quarter
Interest income	`InterestIncomeExpenseNonoperatingNet`	$3.00K	USD	1 Quarter
Total other income	`NonoperatingIncomeExpense`	$34.00K	USD	1 Quarter
Total other income	`NonoperatingIncomeExpense`	$304.00K	USD	1 Quarter
Income before provision (benefit) for income taxes	`IncomeLossAttributableToParent`	$355.00K	USD	1 Quarter
Income before provision (benefit) for income taxes	`IncomeLossAttributableToParent`	$4.00K	USD	1 Quarter
Provision (benefit) for income taxes	`IncomeTaxExpenseBenefit`	$86.00K	USD	1 Quarter
Provision (benefit) for income taxes	`IncomeTaxExpenseBenefit`	$-11.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$15.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$269.00K	USD	1 Quarter
Basic earnings per common share (in Dollars per share)	`EarningsPerShareBasic`	-	USD	1 Quarter
Basic earnings per common share (in Dollars per share)	`EarningsPerShareBasic`	$0.01	USD	1 Quarter
Diluted earnings per common share (in Dollars per share)	`EarningsPerShareDiluted`	-	USD	1 Quarter
Diluted earnings per common share (in Dollars per share)	`EarningsPerShareDiluted`	$0.01	USD	1 Quarter
Basic weighted average common shares outstanding (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	19.72M	shares	1 Quarter
Basic weighted average common shares outstanding (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	18.86M	shares	1 Quarter
Diluted weighted average common shares outstanding (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	19.16M	shares	1 Quarter
Diluted weighted average common shares outstanding (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	19.75M	shares	1 Quarter

Cash Flow Statement 40 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$15.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$269.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$8.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$55.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$188.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$181.00K	USD	1 Quarter
Equity in income of unconsolidated affiliate	`IncomeLossFromEquityMethodInvestments`	$33.00K	USD	1 Quarter
Equity in income of unconsolidated affiliate	`IncomeLossFromEquityMethodInvestments`	$110.00K	USD	1 Quarter
Gain on investment in common stock warrants	`FairValueAdjustmentOfWarrants`	$-30.00K	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$1.15M	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$2.06M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$342.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-865.00K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$217.00K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$291.00K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-295.00K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-41.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-322.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.67M	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$71.00K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$21.00K	USD	1 Quarter
Purchase of marketable securities	`PaymentsToAcquireMarketableSecurities`	$134.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-155.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-71.00K	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$48.00K	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$42.00K	USD	1 Quarter
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$872.00K	USD	1 Quarter
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$577.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-529.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-830.00K	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.22M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-3.35M	USD	1 Quarter
Cash and cash equivalents, beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$4.86M	USD	Point-in-time
Cash and cash equivalents, beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$4.55M	USD	Point-in-time
Cash and cash equivalents, beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$3.33M	USD	Point-in-time
Cash and cash equivalents, beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$8.21M	USD	Point-in-time
Cash and cash equivalents, end of the period	`CashAndCashEquivalentsAtCarryingValue`	$4.86M	USD	Point-in-time
Cash and cash equivalents, end of the period	`CashAndCashEquivalentsAtCarryingValue`	$4.55M	USD	Point-in-time
Cash and cash equivalents, end of the period	`CashAndCashEquivalentsAtCarryingValue`	$3.33M	USD	Point-in-time
Cash and cash equivalents, end of the period	`CashAndCashEquivalentsAtCarryingValue`	$8.21M	USD	Point-in-time

Stockholders Equity 15 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$35.58M	USD	Point-in-time
Balance	`StockholdersEquity`	$35.67M	USD	Point-in-time
Balance (in Shares)	`CommonStockSharesOutstanding`	18.64M	shares	Point-in-time
Balance (in Shares)	`CommonStockSharesOutstanding`	18.88M	shares	Point-in-time
Options exercised	`StockIssuedDuringPeriodValueStockOptionsExercised`	$48.00K	USD	1 Quarter
Options exercised (in Shares)	`StockIssuedDuringPeriodSharesStockOptionsExercised`	-30,000.00	shares	1 Quarter
Share-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$8.00K	USD	1 Quarter
Common stock repurchased and retired	`StockRepurchasedAndRetiredDuringPeriodValue`	$577.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$15.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$269.00K	USD	1 Quarter
Other comprehensive income	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$338.00K	USD	1 Quarter
Balance	`StockholdersEquity`	$35.58M	USD	Point-in-time
Balance	`StockholdersEquity`	$35.67M	USD	Point-in-time
Balance (in Shares)	`CommonStockSharesOutstanding`	18.64M	shares	Point-in-time
Balance (in Shares)	`CommonStockSharesOutstanding`	18.88M	shares	Point-in-time

Comprehensive Income 10 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$15.00K	USD	1 Quarter
Reclassification adjustment for gains included in net income, tax	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesTax`	$57.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$269.00K	USD	1 Quarter
Change in unrealized gain on marketable securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$442.00K	USD	1 Quarter
Change in unrealized gain on marketable securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$47.00K	USD	1 Quarter
Reclassification adjustment for gains included in net income,net of tax of $57,000	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax`	$104.00K	USD	1 Quarter
Other comprehensive income	`OtherComprehensiveIncomeLossNetOfTax`	$47.00K	USD	1 Quarter
Other comprehensive income	`OtherComprehensiveIncomeLossNetOfTax`	$338.00K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$62.00K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$607.00K	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.