10-Q Filing

ALPHA PRO TECH LTD CIK: 884269 Q1 2015

Filing Information

Form Type	10-Q
Accession Number	`0001437749-15-009233`
Period End Date	20150331
Filing Date	20150507
Fiscal Year	2015
Fiscal Period	Q1
XBRL Instance	apt-20150331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 59 Income Statement 35 Cash Flow Statement 40 Stockholders Equity 13 Comprehensive Income 14

Balance Sheet 59 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$60.00K	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$60.00K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$4.86M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$8.21M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$1.10M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$5.50M	USD	Point-in-time
Investments	`AvailableForSaleSecuritiesCurrent`	$2.84M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Investments	`AvailableForSaleSecuritiesCurrent`	$2.31M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $60,000 and $60,000 as of March 31, 2015 and December 31, 2014, respectively	`AccountsReceivableNetCurrent`	$5.33M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $60,000 and $60,000 as of March 31, 2015 and December 31, 2014, respectively	`AccountsReceivableNetCurrent`	$7.79M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	18.35M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	18.22M	shares	Point-in-time
Accounts receivable, related party	`AccountsReceivableRelatedPartiesCurrent`	$333.00K	USD	Point-in-time
Accounts receivable, related party	`AccountsReceivableRelatedPartiesCurrent`	$417.00K	USD	Point-in-time
Inventories	`InventoryNet`	$16.54M	USD	Point-in-time
Inventories	`InventoryNet`	$19.12M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$4.53M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$4.47M	USD	Point-in-time
Deferred income tax assets	`DeferredTaxAssetsNetCurrent`	$486.00K	USD	Point-in-time
Deferred income tax assets	`DeferredTaxAssetsNetCurrent`	$486.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$35.75M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$35.50M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$3.21M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$3.31M	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`	$71.00K	USD	Point-in-time
Definite-lived intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$65.00K	USD	Point-in-time
Equity investments in unconsolidated affiliate	`InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures`	$3.11M	USD	Point-in-time
Equity investments in unconsolidated affiliate	`InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures`	$3.01M	USD	Point-in-time
Total assets	`Assets`	$42.19M	USD	Point-in-time
Total assets	`Assets`	$41.95M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.10M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.68M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$1.20M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$540.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.22M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.29M	USD	Point-in-time
Deferred income tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$1.75M	USD	Point-in-time
Deferred income tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$1.55M	USD	Point-in-time
Total liabilities	`Liabilities`	$4.05M	USD	Point-in-time
Total liabilities	`Liabilities`	$4.76M	USD	Point-in-time
Commitments	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, $.01 par value: 50,000,000 shares authorized; 18,219,456 and 18,348,556 shares outstanding as of March 31, 2015 and December 31, 2014, respectively	`CommonStockValue`	$182.00K	USD	Point-in-time
Common stock, $.01 par value: 50,000,000 shares authorized; 18,219,456 and 18,348,556 shares outstanding as of March 31, 2015 and December 31, 2014, respectively	`CommonStockValue`	$183.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$17.83M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$17.53M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$1.38M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$1.05M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$18.52M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$18.66M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$37.91M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$37.42M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$42.19M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$41.95M	USD	Point-in-time

Income Statement 35 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueGoodsNet`	$10.65M	USD	1 Quarter
Net sales	`SalesRevenueGoodsNet`	$9.96M	USD	1 Quarter
Cost of goods sold, excluding depreciation and amortization	`CostOfGoodsSold`	$6.83M	USD	1 Quarter
Cost of goods sold, excluding depreciation and amortization	`CostOfGoodsSold`	$6.35M	USD	1 Quarter
Gross profit	`GrossProfit`	$3.83M	USD	1 Quarter
Gross profit	`GrossProfit`	$3.61M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$3.58M	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`	$171.00K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$3.75M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$3.56M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$77.00K	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$51.00K	USD	1 Quarter
Equity in income of unconsolidated affiliate	`IncomeLossFromEquityMethodInvestments`	$110.00K	USD	1 Quarter
Equity in income of unconsolidated affiliate	`IncomeLossFromEquityMethodInvestments`	$98.00K	USD	1 Quarter
Gain on sale of marketable securities and investment in common stock warrants	`GainLossOnDerivativeInstrumentsNetPretax`	$191.00K	USD	1 Quarter
Interest, net	`InterestIncomeExpenseNonoperatingNet`	$3.00K	USD	1 Quarter
Interest, net	`InterestIncomeExpenseNonoperatingNet`	$1.00K	USD	1 Quarter
Total other income	`NonoperatingIncomeExpense`	$304.00K	USD	1 Quarter
Total other income	`NonoperatingIncomeExpense`	$99.00K	USD	1 Quarter
Income before provision for income taxes	`IncomeLossAttributableToParent`	$355.00K	USD	1 Quarter
Income before provision for income taxes	`IncomeLossAttributableToParent`	$176.00K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$86.00K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$28.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$269.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$148.00K	USD	1 Quarter
Basic earnings per common share (in dollars per share)	`EarningsPerShareBasic`	$0.01	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`	$0.01	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`	18.86M	shares	1 Quarter
Basic weighted average common shares outstanding (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	18.30M	shares	1 Quarter
Diluted weighted average common shares outstanding (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	18.50M	shares	1 Quarter
Diluted weighted average common shares outstanding (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	19.16M	shares	1 Quarter

Cash Flow Statement 40 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$269.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$148.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$8.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$6.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$188.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$171.00K	USD	1 Quarter
Equity in income of unconsolidated affiliate	`IncomeLossFromEquityMethodInvestments`	$110.00K	USD	1 Quarter
Equity in income of unconsolidated affiliate	`IncomeLossFromEquityMethodInvestments`	$98.00K	USD	1 Quarter
Gain on investment in common stock warrants	`FairValueAdjustmentOfWarrants`	$-30.00K	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$2.46M	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$2.06M	USD	1 Quarter
Accounts receivable, related party	`IncreaseDecreaseInDueFromRelatedParties`	$84.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$342.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$2.57M	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$56.00K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$291.00K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$924.00K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-295.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-4.02M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.67M	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$21.00K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$58.00K	USD	1 Quarter
Purchase of investments	`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`	$-58.00K	USD	1 Quarter
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$311.00K	USD	1 Quarter
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$577.00K	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$48.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-311.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-529.00K	USD	1 Quarter
Decrease in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-3.35M	USD	1 Quarter
Decrease in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-4.39M	USD	1 Quarter
Cash, beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$4.86M	USD	Point-in-time
Cash, beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$8.21M	USD	Point-in-time
Cash, beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$1.10M	USD	Point-in-time
Cash, beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$5.50M	USD	Point-in-time
Cash, end of the period	`CashAndCashEquivalentsAtCarryingValue`	$4.86M	USD	Point-in-time
Cash, end of the period	`CashAndCashEquivalentsAtCarryingValue`	$8.21M	USD	Point-in-time
Cash, end of the period	`CashAndCashEquivalentsAtCarryingValue`	$1.10M	USD	Point-in-time
Cash, end of the period	`CashAndCashEquivalentsAtCarryingValue`	$5.50M	USD	Point-in-time

Stockholders Equity 13 line items

Line Item	Tag	Value	Unit	Period
Balance (in shares)	`CommonStockSharesOutstanding`	18.35M	shares	Point-in-time
Balance (in shares)	`CommonStockSharesOutstanding`	18.22M	shares	Point-in-time
Balance	`StockholdersEquity`	$37.91M	USD	Point-in-time
Balance	`StockholdersEquity`	$37.42M	USD	Point-in-time
Common stock repurchased and retired	`StockRepurchasedAndRetiredDuringPeriodValue`	$311.00K	USD	1 Quarter
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$6.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$269.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$148.00K	USD	1 Quarter
Other comprehensive loss	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-328.00K	USD	1 Quarter
Balance (in shares)	`CommonStockSharesOutstanding`	18.35M	shares	Point-in-time
Balance (in shares)	`CommonStockSharesOutstanding`	18.22M	shares	Point-in-time
Balance	`StockholdersEquity`	$37.91M	USD	Point-in-time
Balance	`StockholdersEquity`	$37.42M	USD	Point-in-time

Comprehensive Income 14 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$269.00K	USD	1 Quarter
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, Tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax`	$155.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$148.00K	USD	1 Quarter
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, Tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax`	$-205.00K	USD	1 Quarter
Reclassification adjustment for gains included in net income, tax	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesTax`	$57.00K	USD	1 Quarter
Reclassification adjustment for gains included in net income, tax	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesTax`	-	USD	1 Quarter
Change in unrealized gain (loss) on marketable securities, net of tax of ($205,000) and $155,000	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$442.00K	USD	1 Quarter
Change in unrealized gain (loss) on marketable securities, net of tax of ($205,000) and $155,000	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-328.00K	USD	1 Quarter
Reclassification adjustment for gains included in net income, net of tax of $57,000	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax`	-	USD	1 Quarter
Reclassification adjustment for gains included in net income, net of tax of $57,000	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax`	$104.00K	USD	1 Quarter
Total other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTax`	$-328.00K	USD	1 Quarter
Total other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTax`	$338.00K	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$-180.00K	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$607.00K	USD	1 Quarter

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