10-Q Filing

ALPHA PRO TECH LTD CIK: 884269 Q2 2017

Filing Information

Form Type	10-Q
Accession Number	`0001437749-17-013621`
Period End Date	20170630
Filing Date	20170803
Fiscal Year	2017
Fiscal Period	Q2
XBRL Instance	apt-20170630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 60 Income Statement 68 Cash Flow Statement 48 Stockholders Equity 17 Comprehensive Income 12

Balance Sheet 60 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$67.00K	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$85.00K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$10.59M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$9.46M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$8.84M	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
Investments	`AvailableForSaleSecuritiesCurrent`	$564.00K	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	50.00M	shares	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`	14.93M	shares	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $85,000 and $67,000 as of June 30, 2017 and December 31, 2016, respectively	`AccountsReceivableNetCurrent`	$4.65M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $85,000 and $67,000 as of June 30, 2017 and December 31, 2016, respectively	`AccountsReceivableNetCurrent`	$4.95M	USD	Point-in-time
Accounts receivable, unconsolidated affiliate	`AccountsReceivableRelatedPartiesCurrent`	$278.00K	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`	$10.77M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseCurrent`	$2.50M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseCurrent`	$3.35M	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`	$29.66M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$27.90M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$3.11M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$2.65M	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`	$25.00K	USD	Point-in-time
Equity investments in unconsolidated affiliate	`InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures`	$3.77M	USD	Point-in-time
Equity investments in unconsolidated affiliate	`InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures`	$3.54M	USD	Point-in-time
Total assets	`Assets`	$35.94M	USD	Point-in-time
Total assets	`Assets`	$34.86M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.20M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.00M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$712.00K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$1.46M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.46M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.92M	USD	Point-in-time
Deferred income tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$361.00K	USD	Point-in-time
Deferred income tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$807.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$3.27M	USD	Point-in-time
Total liabilities	`Liabilities`	$2.28M	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; 14,926,256 and 15,411,556 shares outstanding as of June 30, 2017 and December 31, 2016, respectively	`CommonStockValue`	$149.00K	USD	Point-in-time
Common stock, $.01 par value: 50,000,000 shares authorized; 14,926,256 and 15,411,556 shares outstanding as of June 30, 2017 and December 31, 2016, respectively	`CommonStockValue`	$154.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$7.73M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$9.99M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-239.00K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-204.00K	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$24.94M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$22.72M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$32.58M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$32.66M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$34.86M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$35.94M	USD	Point-in-time

Income Statement 68 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueGoodsNet`	$12.71M	USD	1 Quarter
Net sales	`SalesRevenueGoodsNet`	$11.28M	USD	1 Quarter
Net sales	`SalesRevenueGoodsNet`	$22.03M	USD	2 Qtrs
Net sales	`SalesRevenueGoodsNet`	$24.55M	USD	2 Qtrs
Cost of goods sold, excluding depreciation and amortization	`CostOfGoodsSold`	$13.25M	USD	2 Qtrs
Cost of goods sold, excluding depreciation and amortization	`CostOfGoodsSold`	$15.77M	USD	2 Qtrs
Cost of goods sold, excluding depreciation and amortization	`CostOfGoodsSold`	$8.17M	USD	1 Quarter
Cost of goods sold, excluding depreciation and amortization	`CostOfGoodsSold`	$6.79M	USD	1 Quarter
Gross profit	`GrossProfit`	$4.49M	USD	1 Quarter
Gross profit	`GrossProfit`	$4.54M	USD	1 Quarter
Gross profit	`GrossProfit`	$8.78M	USD	2 Qtrs
Gross profit	`GrossProfit`	$8.79M	USD	2 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$6.79M	USD	2 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$3.35M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$6.82M	USD	2 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$3.33M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$117.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$279.00K	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$271.00K	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$125.00K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$7.10M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$3.47M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$3.45M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$7.06M	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$1.02M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$1.72M	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$1.09M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$1.68M	USD	2 Qtrs
Equity in income of unconsolidated affiliate	`IncomeLossFromEquityMethodInvestments`	$191.00K	USD	2 Qtrs
Equity in income of unconsolidated affiliate	`IncomeLossFromEquityMethodInvestments`	$234.00K	USD	2 Qtrs
Equity in income of unconsolidated affiliate	`IncomeLossFromEquityMethodInvestments`	$93.00K	USD	1 Quarter
Equity in income of unconsolidated affiliate	`IncomeLossFromEquityMethodInvestments`	$129.00K	USD	1 Quarter
Interest income, net	`InterestIncomeExpenseNonoperatingNet`	$1.00K	USD	1 Quarter
Interest income, net	`InterestIncomeExpenseNonoperatingNet`	$2.00K	USD	2 Qtrs
Interest income, net	`InterestIncomeExpenseNonoperatingNet`	$2.00K	USD	2 Qtrs
Interest income, net	`InterestIncomeExpenseNonoperatingNet`	$1.00K	USD	1 Quarter
Total other income	`NonoperatingIncomeExpense`	$130.00K	USD	1 Quarter
Total other income	`NonoperatingIncomeExpense`	$193.00K	USD	2 Qtrs
Total other income	`NonoperatingIncomeExpense`	$94.00K	USD	1 Quarter
Total other income	`NonoperatingIncomeExpense`	$236.00K	USD	2 Qtrs
Income before provision for income taxes	`IncomeLossAttributableToParent`	$1.18M	USD	1 Quarter
Income before provision for income taxes	`IncomeLossAttributableToParent`	$1.15M	USD	1 Quarter
Income before provision for income taxes	`IncomeLossAttributableToParent`	$1.92M	USD	2 Qtrs
Income before provision for income taxes	`IncomeLossAttributableToParent`	$1.92M	USD	2 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$342.00K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$612.00K	USD	2 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$564.00K	USD	2 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$386.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$804.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$797.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.35M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$1.30M	USD	2 Qtrs
Basic earnings per common share (in dollars per share)	`EarningsPerShareBasic`	$0.05	USD	1 Quarter
Basic earnings per common share (in dollars per share)	`EarningsPerShareBasic`	$0.09	USD	2 Qtrs
Basic earnings per common share (in dollars per share)	`EarningsPerShareBasic`	$0.05	USD	1 Quarter
Basic earnings per common share (in dollars per share)	`EarningsPerShareBasic`	$0.07	USD	2 Qtrs
Diluted earnings per common share (in dollars per share)	`EarningsPerShareDiluted`	$0.09	USD	2 Qtrs
Diluted earnings per common share (in dollars per share)	`EarningsPerShareDiluted`	$0.07	USD	2 Qtrs
Diluted earnings per common share (in dollars per share)	`EarningsPerShareDiluted`	$0.05	USD	1 Quarter
Diluted earnings per common share (in dollars per share)	`EarningsPerShareDiluted`	$0.05	USD	1 Quarter
Basic weighted average common shares outstanding (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	17.44M	shares	2 Qtrs
Basic weighted average common shares outstanding (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	14.95M	shares	1 Quarter
Basic weighted average common shares outstanding (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	17.21M	shares	1 Quarter
Basic weighted average common shares outstanding (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	15.08M	shares	2 Qtrs
Diluted weighted average common shares outstanding (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	15.01M	shares	1 Quarter
Diluted weighted average common shares outstanding (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	17.44M	shares	2 Qtrs
Diluted weighted average common shares outstanding (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	17.21M	shares	1 Quarter
Diluted weighted average common shares outstanding (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	15.15M	shares	2 Qtrs

Cash Flow Statement 48 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$804.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$797.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.35M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$1.30M	USD	2 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$34.00K	USD	2 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$163.00K	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$117.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$279.00K	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$271.00K	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$125.00K	USD	1 Quarter
Equity in income of unconsolidated affiliate	`IncomeLossFromEquityMethodInvestments`	$191.00K	USD	2 Qtrs
Equity in income of unconsolidated affiliate	`IncomeLossFromEquityMethodInvestments`	$234.00K	USD	2 Qtrs
Equity in income of unconsolidated affiliate	`IncomeLossFromEquityMethodInvestments`	$93.00K	USD	1 Quarter
Equity in income of unconsolidated affiliate	`IncomeLossFromEquityMethodInvestments`	$129.00K	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$2.35M	USD	2 Qtrs
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$299.00K	USD	2 Qtrs
Accounts receivable, unconsolidated affiliate	`IncreaseDecreaseInDueFromRelatedParties`	$104.00K	USD	2 Qtrs
Accounts receivable, unconsolidated affiliate	`IncreaseDecreaseInDueFromRelatedParties`	$-6.00K	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$-3.74M	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$-226.00K	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$-150.00K	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$-841.00K	USD	2 Qtrs
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-549.00K	USD	2 Qtrs
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-103.00K	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.68M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$2.86M	USD	2 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$734.00K	USD	2 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$163.00K	USD	2 Qtrs
Purchase of marketable securities	`PaymentsToAcquireMarketableSecurities`	$41.00K	USD	2 Qtrs
Purchase of marketable securities	`PaymentsToAcquireMarketableSecurities`	-	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-734.00K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-204.00K	USD	2 Qtrs
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$1.62M	USD	2 Qtrs
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$1.75M	USD	2 Qtrs
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$61.00K	USD	2 Qtrs
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	-	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.75M	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.56M	USD	2 Qtrs
Increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$907.00K	USD	2 Qtrs
Increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-620.00K	USD	2 Qtrs
Cash, beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$10.59M	USD	Point-in-time
Cash, beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$9.46M	USD	Point-in-time
Cash, beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$8.84M	USD	Point-in-time
Cash, beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$9.68M	USD	Point-in-time
Cash, end of the period	`CashAndCashEquivalentsAtCarryingValue`	$10.59M	USD	Point-in-time
Cash, end of the period	`CashAndCashEquivalentsAtCarryingValue`	$9.46M	USD	Point-in-time
Cash, end of the period	`CashAndCashEquivalentsAtCarryingValue`	$8.84M	USD	Point-in-time
Cash, end of the period	`CashAndCashEquivalentsAtCarryingValue`	$9.68M	USD	Point-in-time

Stockholders Equity 17 line items

Line Item	Tag	Value	Unit	Period
Balance (in shares)	`CommonStockSharesOutstanding`	15.41M	shares	Point-in-time
Balance (in shares)	`CommonStockSharesOutstanding`	14.93M	shares	Point-in-time
Balance	`StockholdersEquity`	$32.58M	USD	Point-in-time
Balance	`StockholdersEquity`	$32.66M	USD	Point-in-time
Common stock repurchased and retired	`StockRepurchasedAndRetiredDuringPeriodValue`	$1.62M	USD	2 Qtrs
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$163.00K	USD	2 Qtrs
Options exercised (in shares)	`StockIssuedDuringPeriodSharesStockOptionsExercised`	40,000.00	shares	2 Qtrs
Options exercised	`StockIssuedDuringPeriodValueStockOptionsExercised`	$61.00K	USD	2 Qtrs
Net income	`NetIncomeLoss`	$804.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$797.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.35M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$1.30M	USD	2 Qtrs
Balance	`StockholdersEquity`	$32.58M	USD	Point-in-time
Balance	`StockholdersEquity`	$32.66M	USD	Point-in-time
Other comprehensive loss	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-35.00K	USD	2 Qtrs
Balance (in shares)	`CommonStockSharesOutstanding`	15.41M	shares	Point-in-time
Balance (in shares)	`CommonStockSharesOutstanding`	14.93M	shares	Point-in-time

Comprehensive Income 12 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$804.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$797.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.35M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$1.30M	USD	2 Qtrs
Change in unrealized gain (loss) on marketable securities, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-35.00K	USD	2 Qtrs
Change in unrealized gain (loss) on marketable securities, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$18.00K	USD	1 Quarter
Change in unrealized gain (loss) on marketable securities, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-78.00K	USD	2 Qtrs
Change in unrealized gain (loss) on marketable securities, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$43.00K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$815.00K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$1.32M	USD	2 Qtrs
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$847.00K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$1.23M	USD	2 Qtrs

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