10-Q Filing

ALPHA PRO TECH LTD CIK: 884269 Q1 2017

Filing Information

Form Type	10-Q
Accession Number	`0001437749-17-008531`
Period End Date	20170331
Filing Date	20170510
Fiscal Year	2017
Fiscal Period	Q1
XBRL Instance	apt-20170331.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`	$66.00K	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$67.00K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$9.46M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$8.25M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$7.88M	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
Cash	`CashAndCashEquivalentsAtCarryingValue`	$9.68M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Investments	`AvailableForSaleSecuritiesCurrent`	$500.00K	USD	Point-in-time
Investments	`AvailableForSaleSecuritiesCurrent`	$607.00K	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	15.41M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	15.05M	shares	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $67,000 and $66,000 as of March 31, 2017 and December 31, 2016, respectively	`AccountsReceivableNetCurrent`	$5.51M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $67,000 and $66,000 as of March 31, 2017 and December 31, 2016, respectively	`AccountsReceivableNetCurrent`	$4.65M	USD	Point-in-time
Accounts receivable, unconsolidated affiliate	`AccountsReceivableRelatedPartiesCurrent`	$109.00K	USD	Point-in-time
Accounts receivable, unconsolidated affiliate	`AccountsReceivableRelatedPartiesCurrent`	$174.00K	USD	Point-in-time
Inventories	`InventoryNet`	$10.99M	USD	Point-in-time
Inventories	`InventoryNet`	$10.68M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseCurrent`	$3.35M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseCurrent`	$2.96M	USD	Point-in-time
Deferred income tax assets	`DeferredTaxAssetsNetCurrent`	-	USD	Point-in-time
Deferred income tax assets	`DeferredTaxAssetsNetCurrent`	$438.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$27.64M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$29.66M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$2.65M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$3.08M	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`	$34.00K	USD	Point-in-time
Definite-lived intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$32.00K	USD	Point-in-time
Equity investment in unconsolidated affiliate	`InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures`	$3.64M	USD	Point-in-time
Equity investment in unconsolidated affiliate	`InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures`	$3.54M	USD	Point-in-time
Total assets	`Assets`	$34.45M	USD	Point-in-time
Total assets	`Assets`	$35.94M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.26M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.00M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$1.46M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$786.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.46M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.04M	USD	Point-in-time
Deferred income tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$340.00K	USD	Point-in-time
Deferred income tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$807.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$2.38M	USD	Point-in-time
Total liabilities	`Liabilities`	$3.27M	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; 15,048,856 and 15,411,556 shares outstanding as of March 31, 2017 and December 31, 2016, respectively	`CommonStockValue`	$154.00K	USD	Point-in-time
Common stock, $.01 par value: 50,000,000 shares authorized; 15,048,856 and 15,411,556 shares outstanding as of March 31, 2017 and December 31, 2016, respectively	`CommonStockValue`	$150.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$9.99M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$8.06M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-204.00K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-281.00K	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$22.72M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$24.14M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$32.07M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$32.66M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$35.94M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$34.45M	USD	Point-in-time

Income Statement 34 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueGoodsNet`	$11.85M	USD	1 Quarter
Net sales	`SalesRevenueGoodsNet`	$10.75M	USD	1 Quarter
Cost of goods sold, excluding depreciation and amortization	`CostOfGoodsSold`	$6.46M	USD	1 Quarter
Cost of goods sold, excluding depreciation and amortization	`CostOfGoodsSold`	$7.60M	USD	1 Quarter
Gross profit	`GrossProfit`	$4.25M	USD	1 Quarter
Gross profit	`GrossProfit`	$4.29M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$3.47M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$3.46M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$154.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$154.00K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$3.61M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$3.63M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$634.00K	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$666.00K	USD	1 Quarter
Equity in income of unconsolidated affiliate	`IncomeLossFromEquityMethodInvestments`	$98.00K	USD	1 Quarter
Equity in income of unconsolidated affiliate	`IncomeLossFromEquityMethodInvestments`	$105.00K	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`	$106.00K	USD	1 Quarter
Total other income	`NonoperatingIncomeExpense`	$99.00K	USD	1 Quarter
Income before provision for income taxes	`IncomeLossAttributableToParent`	$733.00K	USD	1 Quarter
Income before provision for income taxes	`IncomeLossAttributableToParent`	$772.00K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$222.00K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$226.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$507.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$550.00K	USD	1 Quarter
Basic earnings per common share (in dollars per share)	`EarningsPerShareBasic`	$0.04	USD	1 Quarter
Basic earnings per common share (in dollars per share)	`EarningsPerShareBasic`	$0.03	USD	1 Quarter
Diluted earnings per common share (in dollars per share)	`EarningsPerShareDiluted`	$0.04	USD	1 Quarter
Diluted earnings per common share (in dollars per share)	`EarningsPerShareDiluted`	$0.03	USD	1 Quarter
Basic weighted average common shares outstanding (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	15.21M	shares	1 Quarter
Basic weighted average common shares outstanding (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	17.67M	shares	1 Quarter
Diluted weighted average common shares outstanding (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	17.67M	shares	1 Quarter
Diluted weighted average common shares outstanding (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	15.30M	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`	$550.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$16.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$81.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$154.00K	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`	$105.00K	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$866.00K	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$3.43M	USD	1 Quarter
Accounts receivable, unconsolidated affiliate	`IncreaseDecreaseInDueFromRelatedParties`	$-65.00K	USD	1 Quarter
Accounts receivable, unconsolidated affiliate	`IncreaseDecreaseInDueFromRelatedParties`	$-8.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-1.64M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-315.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$-570.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$-391.00K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-423.00K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-25.00K	USD	1 Quarter
Net cash provided by(used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-659.00K	USD	1 Quarter
Net cash provided by(used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$162.00K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$584.00K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$55.00K	USD	1 Quarter
Purchase of marketable securities	`PaymentsToAcquireMarketableSecurities`	-	USD	1 Quarter
Purchase of marketable securities	`PaymentsToAcquireMarketableSecurities`	$41.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-584.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-96.00K	USD	1 Quarter
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$1.15M	USD	1 Quarter
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$679.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-679.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.15M	USD	1 Quarter
Decrease in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.57M	USD	1 Quarter
Decrease in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.43M	USD	1 Quarter
Cash, beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$9.46M	USD	Point-in-time
Cash, beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$8.25M	USD	Point-in-time
Cash, beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$7.88M	USD	Point-in-time
Cash, beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$9.68M	USD	Point-in-time
Cash, end of the period	`CashAndCashEquivalentsAtCarryingValue`	$9.46M	USD	Point-in-time
Cash, end of the period	`CashAndCashEquivalentsAtCarryingValue`	$8.25M	USD	Point-in-time
Cash, end of the period	`CashAndCashEquivalentsAtCarryingValue`	$7.88M	USD	Point-in-time
Cash, end of the period	`CashAndCashEquivalentsAtCarryingValue`	$9.68M	USD	Point-in-time

Stockholders Equity 13 line items

Line Item	Tag	Value	Unit	Period
Balance (in shares)	`CommonStockSharesOutstanding`	15.41M	shares	Point-in-time
Balance (in shares)	`CommonStockSharesOutstanding`	15.05M	shares	Point-in-time
Balance	`StockholdersEquity`	$32.07M	USD	Point-in-time
Balance	`StockholdersEquity`	$32.66M	USD	Point-in-time
Common stock repurchased and retired	`StockRepurchasedAndRetiredDuringPeriodValue`	$1.15M	USD	1 Quarter
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$81.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$507.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$550.00K	USD	1 Quarter
Other comprehensive loss	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-77.00K	USD	1 Quarter
Balance (in shares)	`CommonStockSharesOutstanding`	15.41M	shares	Point-in-time
Balance (in shares)	`CommonStockSharesOutstanding`	15.05M	shares	Point-in-time
Balance	`StockholdersEquity`	$32.07M	USD	Point-in-time
Balance	`StockholdersEquity`	$32.66M	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`	$550.00K	USD	1 Quarter
Change in unrealized loss on marketable securities, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-96.00K	USD	1 Quarter
Change in unrealized loss on marketable securities, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-77.00K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$473.00K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$411.00K	USD	1 Quarter

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