10-Q Filing

ALPHA PRO TECH LTD CIK: 884269 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0001437749-18-009168`
Period End Date	20180331
Filing Date	20180509
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	apt-20180331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 56 Income Statement 36 Cash Flow Statement 42 Stockholders Equity 14 Comprehensive Income 6

Balance Sheet 56 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$83.00K	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$83.00K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$7.88M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$5.67M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$9.46M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$8.76M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Investments	`AvailableForSaleSecuritiesCurrent`	$375.00K	USD	Point-in-time
Investments	`AvailableForSaleSecuritiesCurrent`	$343.00K	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	50.00M	shares	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 $83,000 as of March 31, 2018 and December 31, 2017	`AccountsReceivableNetCurrent`	$6.46M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $83,000 as of March 31, 2018 and December 31, 2017	`AccountsReceivableNetCurrent`	$4.60M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	14.29M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	14.19M	shares	Point-in-time
Accounts receivable, related party	`AccountsReceivableRelatedPartiesCurrent`	$381.00K	USD	Point-in-time
Accounts receivable, related party	`AccountsReceivableRelatedPartiesCurrent`	$361.00K	USD	Point-in-time
Inventories	`InventoryNet`	$10.63M	USD	Point-in-time
Inventories	`InventoryNet`	$10.25M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$2.67M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$3.46M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$26.98M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$26.98M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$3.12M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$3.16M	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`	$21.00K	USD	Point-in-time
Definite-lived intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$20.00K	USD	Point-in-time
Deferred income tax assets	`DeferredTaxAssetsNetNoncurrent`	$19.00K	USD	Point-in-time
Deferred income tax assets	`DeferredTaxAssetsNetNoncurrent`	$19.00K	USD	Point-in-time
Equity investments in unconsolidated affiliate	`InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures`	$3.89M	USD	Point-in-time
Equity investments in unconsolidated affiliate	`InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures`	$4.03M	USD	Point-in-time
Total assets	`Assets`	$34.12M	USD	Point-in-time
Total assets	`Assets`	$34.22M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.04M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.24M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$1.56M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$1.76M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.80M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.81M	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; 14,187,749 and 14,290,749 shares outstanding as of March 31, 2018 and December 31, 2017, respectively	`CommonStockValue`	$143.00K	USD	Point-in-time
Common stock, $.01 par value: 50,000,000 shares authorized; 14,187,749 and 14,290,749 shares outstanding as of March 31, 2018 and December 31, 2017, respectively	`CommonStockValue`	$142.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$5.00M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$5.42M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-458.00K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	-	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$26.22M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$26.27M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$31.32M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$31.41M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$34.12M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$34.22M	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerIncludingAssessedTax`	$10.75M	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerIncludingAssessedTax`	$11.44M	USD	1 Quarter
Cost of goods sold, excluding depreciation and amortization	`CostOfGoodsAndServicesSold`	$6.46M	USD	1 Quarter
Cost of goods sold, excluding depreciation and amortization	`CostOfGoodsAndServicesSold`	$6.99M	USD	1 Quarter
Gross profit	`GrossProfit`	$4.29M	USD	1 Quarter
Gross profit	`GrossProfit`	$4.46M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$3.88M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$3.47M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$154.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$146.00K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$4.03M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$3.63M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$428.00K	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$666.00K	USD	1 Quarter
Equity in income of unconsolidated affiliate	`IncomeLossFromEquityMethodInvestments`	$105.00K	USD	1 Quarter
Equity in income of unconsolidated affiliate	`IncomeLossFromEquityMethodInvestments`	$139.00K	USD	1 Quarter
Unrealized gain recognized in earings since January 1, 2018	`AvailableForSaleSecuritiesGrossUnrealizedGains`	-	USD	1 Quarter
Unrealized gain recognized in earings since January 1, 2018	`AvailableForSaleSecuritiesGrossUnrealizedGains`	$32.00K	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`	$172.00K	USD	1 Quarter
Income before provision for income taxes	`IncomeLossAttributableToParent`	$772.00K	USD	1 Quarter
Income before provision for income taxes	`IncomeLossAttributableToParent`	$600.00K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$222.00K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$92.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$508.00K	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`	$0.04	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`	$0.04	USD	1 Quarter
Basic weighted average common shares outstanding (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	14.22M	shares	1 Quarter
Basic weighted average common shares outstanding (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	15.21M	shares	1 Quarter
Diluted weighted average common shares outstanding (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	14.38M	shares	1 Quarter
Diluted weighted average common shares outstanding (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	15.30M	shares	1 Quarter

Cash Flow Statement 42 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$508.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$550.00K	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$78.00K	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$81.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$154.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$146.00K	USD	1 Quarter
Unrealized gain on marketable securities	`AvailableForSaleSecuritiesGrossUnrealizedGains`	-	USD	1 Quarter
Unrealized gain on marketable securities	`AvailableForSaleSecuritiesGrossUnrealizedGains`	$32.00K	USD	1 Quarter
Equity in income of unconsolidated affiliate	`IncomeLossFromEquityMethodInvestments`	$105.00K	USD	1 Quarter
Equity in income of unconsolidated affiliate	`IncomeLossFromEquityMethodInvestments`	$139.00K	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$1.87M	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$866.00K	USD	1 Quarter
Accounts receivable, related party	`IncreaseDecreaseInDueFromRelatedParties`	$20.00K	USD	1 Quarter
Accounts receivable, related party	`IncreaseDecreaseInDueFromRelatedParties`	$-65.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-315.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$386.00K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$790.00K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-391.00K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-423.00K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$5.00K	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$162.00K	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.50M	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$102.00K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$584.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-102.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-584.00K	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	-	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$77.00K	USD	1 Quarter
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$576.00K	USD	1 Quarter
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$1.15M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.15M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-499.00K	USD	1 Quarter
Decrease in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-3.10M	USD	1 Quarter
Decrease in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.57M	USD	1 Quarter
Cash, beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$7.88M	USD	Point-in-time
Cash, beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$5.67M	USD	Point-in-time
Cash, beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$9.46M	USD	Point-in-time
Cash, beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$8.76M	USD	Point-in-time
Cash, end of the period	`CashAndCashEquivalentsAtCarryingValue`	$7.88M	USD	Point-in-time
Cash, end of the period	`CashAndCashEquivalentsAtCarryingValue`	$5.67M	USD	Point-in-time
Cash, end of the period	`CashAndCashEquivalentsAtCarryingValue`	$9.46M	USD	Point-in-time
Cash, end of the period	`CashAndCashEquivalentsAtCarryingValue`	$8.76M	USD	Point-in-time

Stockholders Equity 14 line items

Line Item	Tag	Value	Unit	Period
Balance (in shares)	`CommonStockSharesOutstanding`	14.29M	shares	Point-in-time
Balance (in shares)	`CommonStockSharesOutstanding`	14.19M	shares	Point-in-time
Balance	`StockholdersEquity`	$31.32M	USD	Point-in-time
Balance	`StockholdersEquity`	$31.41M	USD	Point-in-time
Common stock repurchased and retired	`StockRepurchasedAndRetiredDuringPeriodValue`	$576.00K	USD	1 Quarter
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$78.00K	USD	1 Quarter
Options exercised (in shares)	`StockIssuedDuringPeriodSharesStockOptionsExercised`	50,000.00	shares	1 Quarter
Options exercised	`StockIssuedDuringPeriodValueStockOptionsExercised`	$77.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$508.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$550.00K	USD	1 Quarter
Balance (in shares)	`CommonStockSharesOutstanding`	14.29M	shares	Point-in-time
Balance (in shares)	`CommonStockSharesOutstanding`	14.19M	shares	Point-in-time
Balance	`StockholdersEquity`	$31.32M	USD	Point-in-time
Balance	`StockholdersEquity`	$31.41M	USD	Point-in-time

Comprehensive Income 6 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$508.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$550.00K	USD	1 Quarter
Change in unrealized gain (loss) on marketable securities, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	-	USD	1 Quarter
Change in unrealized gain (loss) on marketable securities, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-77.00K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$473.00K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$508.00K	USD	1 Quarter

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