10-Q Filing

ALPHA PRO TECH LTD CIK: 884269 Q1 2016

Filing Information

Form Type	10-Q
Accession Number	`0001437749-16-030893`
Period End Date	20160331
Filing Date	20160505
Fiscal Year	2016
Fiscal Period	Q1
XBRL Instance	apt-20160331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 60 Income Statement 34 Cash Flow Statement 40 Stockholders Equity 13 Comprehensive Income 6

Balance Sheet 60 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$46.00K	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$71.00K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$5.50M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$9.68M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$8.25M	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
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Investments	`AvailableForSaleSecuritiesCurrent`	$656.00K	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Investments	`AvailableForSaleSecuritiesCurrent`	$551.00K	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	17.46M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	17.85M	shares	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $71,000 and $46,000 as of March 31, 2016 and December 31, 2015, respectively	`AccountsReceivableNetCurrent`	$2.76M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $71,000 and $46,000 as of March 31, 2016 and December 31, 2015, respectively	`AccountsReceivableNetCurrent`	$6.20M	USD	Point-in-time
Accounts receivable, related party	`AccountsReceivableRelatedPartiesCurrent`	$8.00K	USD	Point-in-time
Accounts receivable, related party	`AccountsReceivableRelatedPartiesCurrent`	-	USD	Point-in-time
Inventories	`InventoryNet`	$16.40M	USD	Point-in-time
Inventories	`InventoryNet`	$14.76M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseCurrent`	$3.09M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseCurrent`	$2.52M	USD	Point-in-time
Deferred income tax assets	`DeferredTaxAssetsNetCurrent`	$484.00K	USD	Point-in-time
Deferred income tax assets	`DeferredTaxAssetsNetCurrent`	$484.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$33.08M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$32.76M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$2.81M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$2.91M	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`	$51.00K	USD	Point-in-time
Definite-lived intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$46.00K	USD	Point-in-time
Equity investments in unconsolidated affiliate	`InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures`	$3.14M	USD	Point-in-time
Equity investments in unconsolidated affiliate	`InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures`	$3.04M	USD	Point-in-time
Total assets	`Assets`	$38.81M	USD	Point-in-time
Total assets	`Assets`	$39.13M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.03M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.08M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$1.05M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$1.13M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.15M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.13M	USD	Point-in-time
Deferred income tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$816.00K	USD	Point-in-time
Deferred income tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$867.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$2.95M	USD	Point-in-time
Total liabilities	`Liabilities`	$3.02M	USD	Point-in-time
Commitments	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, $.01 par value: 50,000,000 shares authorized; 17,455,456 and 17,850,456 shares outstanding as of March 31, 2016 and December 31, 2015, respectively	`CommonStockValue`	$178.00K	USD	Point-in-time
Common stock, $.01 par value: 50,000,000 shares authorized; 17,455,456 and 17,850,456 shares outstanding as of March 31, 2016 and December 31, 2015, respectively	`CommonStockValue`	$174.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$15.87M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$16.53M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-148.00K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-244.00K	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$20.06M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$19.56M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$36.11M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$35.86M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$39.13M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$38.81M	USD	Point-in-time

Income Statement 34 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueGoodsNet`	$10.65M	USD	1 Quarter
Net sales	`SalesRevenueGoodsNet`	$11.85M	USD	1 Quarter
Cost of goods sold, excluding depreciation and amortization	`CostOfGoodsSold`	$7.60M	USD	1 Quarter
Cost of goods sold, excluding depreciation and amortization	`CostOfGoodsSold`	$6.83M	USD	1 Quarter
Gross profit	`GrossProfit`	$4.25M	USD	1 Quarter
Gross profit	`GrossProfit`	$3.83M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$3.46M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$3.58M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$171.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$154.00K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$3.75M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$3.61M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$77.00K	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$634.00K	USD	1 Quarter
Equity in income of unconsolidated affiliate	`IncomeLossFromEquityMethodInvestments`	$98.00K	USD	1 Quarter
Equity in income of unconsolidated affiliate	`IncomeLossFromEquityMethodInvestments`	$98.00K	USD	1 Quarter
Interest income, net	`InterestIncomeExpenseNonoperatingNet`	$1.00K	USD	1 Quarter
Interest income, net	`InterestIncomeExpenseNonoperatingNet`	$1.00K	USD	1 Quarter
Total other income	`NonoperatingIncomeExpense`	$99.00K	USD	1 Quarter
Total other income	`NonoperatingIncomeExpense`	$99.00K	USD	1 Quarter
Income before provision for income taxes	`IncomeLossAttributableToParent`	$176.00K	USD	1 Quarter
Income before provision for income taxes	`IncomeLossAttributableToParent`	$733.00K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$28.00K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$226.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$507.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$148.00K	USD	1 Quarter
Basic earnings per common share (in dollars per share)	`EarningsPerShareBasic`	$0.03	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`	$0.03	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`	17.67M	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`	17.67M	shares	1 Quarter

Cash Flow Statement 40 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$507.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$148.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$16.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$6.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$171.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$154.00K	USD	1 Quarter
Equity in income of unconsolidated affiliate	`IncomeLossFromEquityMethodInvestments`	$98.00K	USD	1 Quarter
Equity in income of unconsolidated affiliate	`IncomeLossFromEquityMethodInvestments`	$98.00K	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$2.46M	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$3.43M	USD	1 Quarter
Accounts receivable, related party	`IncreaseDecreaseInDueFromRelatedParties`	$84.00K	USD	1 Quarter
Accounts receivable, related party	`IncreaseDecreaseInDueFromRelatedParties`	$-8.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$2.57M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-1.64M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$-570.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$56.00K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$924.00K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-25.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-659.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-4.02M	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$58.00K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$55.00K	USD	1 Quarter
Purchase of marketable securities	`PaymentsToAcquireMarketableSecurities`	$41.00K	USD	1 Quarter
Purchase of marketable securities	`PaymentsToAcquireMarketableSecurities`	-	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-96.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-58.00K	USD	1 Quarter
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$679.00K	USD	1 Quarter
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$311.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-311.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-679.00K	USD	1 Quarter
Decrease in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.43M	USD	1 Quarter
Decrease in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-4.39M	USD	1 Quarter
Cash, beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$5.50M	USD	Point-in-time
Cash, beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$9.68M	USD	Point-in-time
Cash, beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$8.25M	USD	Point-in-time
Cash, beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$1.10M	USD	Point-in-time
Cash, end of the period	`CashAndCashEquivalentsAtCarryingValue`	$5.50M	USD	Point-in-time
Cash, end of the period	`CashAndCashEquivalentsAtCarryingValue`	$9.68M	USD	Point-in-time
Cash, end of the period	`CashAndCashEquivalentsAtCarryingValue`	$8.25M	USD	Point-in-time
Cash, end of the period	`CashAndCashEquivalentsAtCarryingValue`	$1.10M	USD	Point-in-time

Stockholders Equity 13 line items

Line Item	Tag	Value	Unit	Period
Balance (in shares)	`CommonStockSharesOutstanding`	17.46M	shares	Point-in-time
Balance (in shares)	`CommonStockSharesOutstanding`	17.85M	shares	Point-in-time
Balance	`StockholdersEquity`	$36.11M	USD	Point-in-time
Balance	`StockholdersEquity`	$35.86M	USD	Point-in-time
Common stock repurchased and retired	`StockRepurchasedAndRetiredDuringPeriodValue`	$679.00K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$16.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$507.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$148.00K	USD	1 Quarter
Other comprehensive loss	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-96.00K	USD	1 Quarter
Balance (in shares)	`CommonStockSharesOutstanding`	17.46M	shares	Point-in-time
Balance (in shares)	`CommonStockSharesOutstanding`	17.85M	shares	Point-in-time
Balance	`StockholdersEquity`	$36.11M	USD	Point-in-time
Balance	`StockholdersEquity`	$35.86M	USD	Point-in-time

Comprehensive Income 6 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$507.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$148.00K	USD	1 Quarter
Change in unrealized loss on marketable securities, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-328.00K	USD	1 Quarter
Change in unrealized loss on marketable securities, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-96.00K	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$-180.00K	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$411.00K	USD	1 Quarter

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