10-Q Filing

ALPHA PRO TECH LTD CIK: 884269 Q1 2019

Filing Information

Form Type	10-Q
Accession Number	`0001437749-19-008927`
Period End Date	20190331
Filing Date	20190507
Fiscal Year	2019
Fiscal Period	Q1
XBRL Instance	apt-20190331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 64 Income Statement 36 Cash Flow Statement 48 Stockholders Equity 14

Balance Sheet 64 line items

Line Item	Tag	Value	Unit	Period
Accounts Receivable, allowance	`AllowanceForDoubtfulAccountsReceivableCurrent`	$64.00K	USD	Point-in-time
Accounts Receivable, allowance	`AllowanceForDoubtfulAccountsReceivableCurrent`	$64.00K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$4.49M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$5.67M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$7.01M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	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
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Investments	`AvailableForSaleSecuritiesCurrent`	$258.00K	USD	Point-in-time
Investments	`AvailableForSaleSecuritiesCurrent`	$417.00K	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 $64,000 and $64,000 as of March 31, 2019 and December 31, 2018	`AccountsReceivableNetCurrent`	$7.20M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	13.50M	shares	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $64,000 and $64,000 as of March 31, 2019 and December 31, 2018	`AccountsReceivableNetCurrent`	$4.93M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	13.28M	shares	Point-in-time
Accounts receivable, related party	`AccountsReceivableRelatedPartiesCurrent`	$837.00K	USD	Point-in-time
Accounts receivable, related party	`AccountsReceivableRelatedPartiesCurrent`	$383.00K	USD	Point-in-time
Inventories	`InventoryNet`	$9.88M	USD	Point-in-time
Inventories	`InventoryNet`	$10.41M	USD	Point-in-time
Right-of-use assets	`OperatingLeaseRightofuseAssetCurrent`	$668.00K	USD	Point-in-time
Right-of-use assets	`OperatingLeaseRightofuseAssetCurrent`	-	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$4.00M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$2.70M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$26.46M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$26.72M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$3.27M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$3.24M	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`	$15.00K	USD	Point-in-time
Definite-lived intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$16.00K	USD	Point-in-time
Right-of-use assets, net of current portion	`OperatingLeaseRightofuseAssetNoncurrent`	$2.58M	USD	Point-in-time
Right-of-use assets, net of current portion	`OperatingLeaseRightofuseAssetNoncurrent`	-	USD	Point-in-time
Equity investment in unconsolidated affiliate	`InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures`	$4.76M	USD	Point-in-time
Equity investment in unconsolidated affiliate	`InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures`	$4.48M	USD	Point-in-time
Total assets	`Assets`	$34.26M	USD	Point-in-time
Total assets	`Assets`	$37.40M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$578.00K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$743.00K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$1.34M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$632.00K	USD	Point-in-time
Lease liabilities	`OperatingLeaseLiabilityCurrent`	$663.00K	USD	Point-in-time
Lease liabilities	`OperatingLeaseLiabilityCurrent`	-	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.04M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.92M	USD	Point-in-time
Lease liabilities, net of current portion	`OperatingLeaseLiabilityNoncurrent`	$2.63M	USD	Point-in-time
Lease liabilities, net of current portion	`OperatingLeaseLiabilityNoncurrent`	-	USD	Point-in-time
Deferred income tax liabilities, net	`DeferredTaxLiabilitiesNoncurrent`	$141.00K	USD	Point-in-time
Deferred income tax liabilities, net	`DeferredTaxLiabilitiesNoncurrent`	$141.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$2.06M	USD	Point-in-time
Total liabilities	`Liabilities`	$4.81M	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; 13,281,018 and 13,502,684 shares outstanding as of March 31, 2019 and December 31, 2018, respectively	`CommonStockValue`	$133.00K	USD	Point-in-time
Common stock, $.01 par value: 50,000,000 shares authorized; 13,281,018 and 13,502,684 shares outstanding as of March 31, 2019 and December 31, 2018, respectively	`CommonStockValue`	$135.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$1.84M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$2.67M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$30.61M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$29.39M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$32.59M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$32.19M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$34.26M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$37.40M	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerIncludingAssessedTax`	$12.30M	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerIncludingAssessedTax`	$11.44M	USD	1 Quarter
Cost of goods sold, excluding depreciation and amortization	`CostOfGoodsAndServicesSold`	$7.50M	USD	1 Quarter
Cost of goods sold, excluding depreciation and amortization	`CostOfGoodsAndServicesSold`	$6.99M	USD	1 Quarter
Gross profit	`GrossProfit`	$4.46M	USD	1 Quarter
Gross profit	`GrossProfit`	$4.80M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$3.67M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$3.88M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$146.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$127.00K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$4.03M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$3.80M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$428.00K	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$1.00M	USD	1 Quarter
Equity in income of unconsolidated affiliate	`IncomeLossFromEquityMethodInvestments`	$277.00K	USD	1 Quarter
Equity in income of unconsolidated affiliate	`IncomeLossFromEquityMethodInvestments`	$139.00K	USD	1 Quarter
Gain on marketable securities	`DebtSecuritiesAvailableForSaleRealizedGainLoss`	$170.00K	USD	1 Quarter
Gain on marketable securities	`DebtSecuritiesAvailableForSaleRealizedGainLoss`	$32.00K	USD	1 Quarter
Interest income, net	`InterestIncomeExpenseNonoperatingNet`	$12.00K	USD	1 Quarter
Interest income, net	`InterestIncomeExpenseNonoperatingNet`	$1.00K	USD	1 Quarter
Total other income	`NonoperatingIncomeExpense`	$459.00K	USD	1 Quarter
Total other income	`NonoperatingIncomeExpense`	$172.00K	USD	1 Quarter
Income before provision for income taxes	`IncomeLossAttributableToParent`	$600.00K	USD	1 Quarter
Income before provision for income taxes	`IncomeLossAttributableToParent`	$1.46M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$243.00K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$92.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.22M	USD	1 Quarter
Net income	`NetIncomeLoss`	$508.00K	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`	$0.09	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`	$0.09	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`	13.39M	shares	1 Quarter
Diluted weighted average common shares outstanding (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	13.47M	shares	1 Quarter
Diluted weighted average common shares outstanding (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	14.38M	shares	1 Quarter

Cash Flow Statement 48 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$1.22M	USD	1 Quarter
Net income	`NetIncomeLoss`	$508.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$78.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$122.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$146.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$127.00K	USD	1 Quarter
Gain on marketable securities	`DebtSecuritiesAvailableForSaleRealizedGainLoss`	$170.00K	USD	1 Quarter
Gain on marketable securities	`DebtSecuritiesAvailableForSaleRealizedGainLoss`	$32.00K	USD	1 Quarter
Equity in income of unconsolidated affiliate	`IncomeLossFromEquityMethodInvestments`	$277.00K	USD	1 Quarter
Equity in income of unconsolidated affiliate	`IncomeLossFromEquityMethodInvestments`	$139.00K	USD	1 Quarter
Operating lease expense, net of accretion	`OperatingLeaseExpenseNetOfAccretion`	-	USD	1 Quarter
Operating lease expense, net of accretion	`OperatingLeaseExpenseNetOfAccretion`	$164.00K	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$2.27M	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$1.87M	USD	1 Quarter
Accounts receivable, related party	`IncreaseDecreaseInDueFromRelatedParties`	$20.00K	USD	1 Quarter
Accounts receivable, related party	`IncreaseDecreaseInDueFromRelatedParties`	$454.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$386.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$529.00K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-1.30M	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$790.00K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-505.00K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$5.00K	USD	1 Quarter
Lease liabilities	`IncreaseDecreaseInOperatingLeaseLiability`	$-160.00K	USD	1 Quarter
Lease liabilities	`IncreaseDecreaseInOperatingLeaseLiability`	-	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.50M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.43M	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$102.00K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$152.00K	USD	1 Quarter
Proceeds from sales of marketable securities	`ProceedsFromSaleOfAvailableForSaleSecuritiesDebt`	-	USD	1 Quarter
Proceeds from sales of marketable securities	`ProceedsFromSaleOfAvailableForSaleSecuritiesDebt`	$10.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-102.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-142.00K	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$77.00K	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$60.00K	USD	1 Quarter
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$576.00K	USD	1 Quarter
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$1.01M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-499.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-948.00K	USD	1 Quarter
Decrease in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-2.52M	USD	1 Quarter
Decrease in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-3.10M	USD	1 Quarter
Cash, beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$4.49M	USD	Point-in-time
Cash, beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$5.67M	USD	Point-in-time
Cash, beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$7.01M	USD	Point-in-time
Cash, beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$8.76M	USD	Point-in-time
Cash, end of the period	`CashAndCashEquivalentsAtCarryingValue`	$4.49M	USD	Point-in-time
Cash, end of the period	`CashAndCashEquivalentsAtCarryingValue`	$5.67M	USD	Point-in-time
Cash, end of the period	`CashAndCashEquivalentsAtCarryingValue`	$7.01M	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`	13.50M	shares	Point-in-time
Balance (in shares)	`CommonStockSharesOutstanding`	13.28M	shares	Point-in-time
Balance	`StockholdersEquity`	$32.59M	USD	Point-in-time
Balance	`StockholdersEquity`	$32.19M	USD	Point-in-time
Common stock repurchased and retired	`StockRepurchasedAndRetiredDuringPeriodValue`	$1.01M	USD	1 Quarter
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$122.00K	USD	1 Quarter
Options exercised (in shares)	`StockIssuedDuringPeriodSharesStockOptionsExercised`	33,334.00	shares	1 Quarter
Options exercised	`StockIssuedDuringPeriodValueStockOptionsExercised`	$60.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.22M	USD	1 Quarter
Net income	`NetIncomeLoss`	$508.00K	USD	1 Quarter
Balance (in shares)	`CommonStockSharesOutstanding`	13.50M	shares	Point-in-time
Balance (in shares)	`CommonStockSharesOutstanding`	13.28M	shares	Point-in-time
Balance	`StockholdersEquity`	$32.59M	USD	Point-in-time
Balance	`StockholdersEquity`	$32.19M	USD	Point-in-time

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