10-Q Filing

ALPHA PRO TECH LTD CIK: 884269 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0001437749-20-009788`
Period End Date	20200331
Filing Date	20200507
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	apt-20200331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 66 Income Statement 36 Cash Flow Statement 50 Stockholders Equity 11

Balance Sheet 66 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$53.00K	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$53.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$7.01M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$17.36M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.49M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$6.55M	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
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Investments	`AvailableForSaleSecuritiesCurrent`	$335.00K	USD	Point-in-time
Investments	`AvailableForSaleSecuritiesCurrent`	$228.00K	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $53,000 as of March 31, 2020 and December 31, 2019	`AccountsReceivableNetCurrent`	$3.57M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	13.56M	shares	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $53,000 as of March 31, 2020 and December 31, 2019	`AccountsReceivableNetCurrent`	$7.36M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	13.50M	shares	Point-in-time
Accounts receivable, related party	`AccountsReceivableRelatedPartiesCurrent`	$724.00K	USD	Point-in-time
Accounts receivable, related party	`AccountsReceivableRelatedPartiesCurrent`	$916.00K	USD	Point-in-time
Inventories	`InventoryNet`	$11.15M	USD	Point-in-time
Inventories	`InventoryNet`	$11.30M	USD	Point-in-time
Right-of-use assets	`OperatingLeaseRightofuseAssetCurrent`	$898.00K	USD	Point-in-time
Right-of-use assets	`OperatingLeaseRightofuseAssetCurrent`	$906.00K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$3.59M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$4.24M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$42.16M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$26.96M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$4.05M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$3.94M	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`	$11.00K	USD	Point-in-time
Definite-lived intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$10.00K	USD	Point-in-time
Right-of-use assets, net of current portion	`OperatingLeaseRightofuseAssetNoncurrent`	$2.05M	USD	Point-in-time
Right-of-use assets, net of current portion	`OperatingLeaseRightofuseAssetNoncurrent`	$2.28M	USD	Point-in-time
Equity investment in unconsolidated affiliate	`InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures`	$4.84M	USD	Point-in-time
Equity investment in unconsolidated affiliate	`InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures`	$4.93M	USD	Point-in-time
Total assets	`Assets`	$53.25M	USD	Point-in-time
Total assets	`Assets`	$38.09M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.73M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$501.00K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$764.00K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$920.00K	USD	Point-in-time
Customer advance payments of orders	`ContractWithCustomerLiabilityCurrent`	$7.16M	USD	Point-in-time
Customer advance payments of orders	`ContractWithCustomerLiabilityCurrent`	-	USD	Point-in-time
Lease liabilities	`OperatingLeaseLiabilityCurrent`	$882.00K	USD	Point-in-time
Lease liabilities	`OperatingLeaseLiabilityCurrent`	$886.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$10.54M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.30M	USD	Point-in-time
Lease liabilities, net of current portion	`OperatingLeaseLiabilityNoncurrent`	$2.11M	USD	Point-in-time
Lease liabilities, net of current portion	`OperatingLeaseLiabilityNoncurrent`	$2.34M	USD	Point-in-time
Deferred income tax liabilities, net	`DeferredIncomeTaxLiabilitiesNet`	$224.00K	USD	Point-in-time
Deferred income tax liabilities, net	`DeferredIncomeTaxLiabilitiesNet`	$224.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$12.88M	USD	Point-in-time
Total liabilities	`Liabilities`	$4.86M	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; 13,563,012 and 13,502,684 shares outstanding as of March 31, 2020 and December 31, 2019, respectively	`CommonStockValue`	$136.00K	USD	Point-in-time
Common stock, $.01 par value: 50,000,000 shares authorized; 13,563,012 and 13,502,684 shares outstanding as of March 31, 2020 and December 31, 2019, respectively	`CommonStockValue`	$129.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$2.51M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$708.00K	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$37.73M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$32.39M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$40.38M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$33.23M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$38.09M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$53.25M	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerIncludingAssessedTax`	$18.15M	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerIncludingAssessedTax`	$12.30M	USD	1 Quarter
Cost of goods sold, excluding depreciation and amortization	`CostOfGoodsAndServicesSold`	$9.60M	USD	1 Quarter
Cost of goods sold, excluding depreciation and amortization	`CostOfGoodsAndServicesSold`	$7.50M	USD	1 Quarter
Gross profit	`GrossProfit`	$8.55M	USD	1 Quarter
Gross profit	`GrossProfit`	$4.80M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$4.10M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$3.67M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$127.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$182.00K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$4.28M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$3.80M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$4.27M	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`	$87.00K	USD	1 Quarter
Gain (loss) on marketable securities	`DebtSecuritiesAvailableForSaleGainLoss`	$-59.00K	USD	1 Quarter
Gain (loss) on marketable securities	`DebtSecuritiesAvailableForSaleGainLoss`	$170.00K	USD	1 Quarter
Interest income, net	`InterestIncomeExpenseNonoperatingNet`	$16.00K	USD	1 Quarter
Interest income, net	`InterestIncomeExpenseNonoperatingNet`	$12.00K	USD	1 Quarter
Total other income	`NonoperatingIncomeExpense`	$459.00K	USD	1 Quarter
Total other income	`NonoperatingIncomeExpense`	$44.00K	USD	1 Quarter
Income before provision (benefit) for income taxes	`IncomeLossAttributableToParent`	$1.46M	USD	1 Quarter
Income before provision (benefit) for income taxes	`IncomeLossAttributableToParent`	$4.31M	USD	1 Quarter
Provision (benefit) for income taxes	`IncomeTaxExpenseBenefit`	$243.00K	USD	1 Quarter
Provision (benefit) for income taxes	`IncomeTaxExpenseBenefit`	$-1.03M	USD	1 Quarter
Net income	`NetIncomeLoss`	$5.34M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.22M	USD	1 Quarter
Basic earnings per common share (in dollars per share)	`EarningsPerShareBasic`	$0.41	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`	$0.39	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`	13.39M	shares	1 Quarter
Basic weighted average common shares outstanding (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	13.12M	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`	13.66M	shares	1 Quarter

Cash Flow Statement 50 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$5.34M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.22M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$91.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$122.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$127.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$182.00K	USD	1 Quarter
Gain (loss) on marketable securities	`DebtSecuritiesAvailableForSaleGainLoss`	$-59.00K	USD	1 Quarter
Gain (loss) on marketable securities	`DebtSecuritiesAvailableForSaleGainLoss`	$170.00K	USD	1 Quarter
Equity in income of unconsolidated affiliate	`IncomeLossFromEquityMethodInvestments`	$277.00K	USD	1 Quarter
Equity in income of unconsolidated affiliate	`IncomeLossFromEquityMethodInvestments`	$87.00K	USD	1 Quarter
Operating lease expense, net of accretion	`OperatingLeaseExpenseNetOfAccretion`	$164.00K	USD	1 Quarter
Operating lease expense, net of accretion	`OperatingLeaseExpenseNetOfAccretion`	$224.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$2.27M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$3.79M	USD	1 Quarter
Accounts receivable, related party	`IncreaseDecreaseInDueFromRelatedParties`	$192.00K	USD	1 Quarter
Accounts receivable, related party	`IncreaseDecreaseInDueFromRelatedParties`	$454.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$529.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-155.00K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$650.00K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-1.30M	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$1.07M	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-505.00K	USD	1 Quarter
Customer advance payments of orders	`IncreaseDecreaseInContractWithCustomerLiability`	-	USD	1 Quarter
Customer advance payments of orders	`IncreaseDecreaseInContractWithCustomerLiability`	$7.16M	USD	1 Quarter
Lease liabilities	`IncreaseDecreaseInOperatingLeaseLiability`	$-160.00K	USD	1 Quarter
Lease liabilities	`IncreaseDecreaseInOperatingLeaseLiability`	$-221.00K	USD	1 Quarter
Net cash provided (used) by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.43M	USD	1 Quarter
Net cash provided (used) by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$9.34M	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$152.00K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$288.00K	USD	1 Quarter
Proceeds from sales of marketable securities	`ProceedsFromSaleOfAvailableForSaleSecuritiesDebt`	$10.00K	USD	1 Quarter
Proceeds from sales of marketable securities	`ProceedsFromSaleOfAvailableForSaleSecuritiesDebt`	$47.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-142.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-241.00K	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromPaymentsForStockOptionsExercised`	$60.00K	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromPaymentsForStockOptionsExercised`	$1.84M	USD	1 Quarter
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$1.01M	USD	1 Quarter
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$125.00K	USD	1 Quarter
Net cash provided (used) by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-948.00K	USD	1 Quarter
Net cash provided (used) by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.72M	USD	1 Quarter
Increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-2.52M	USD	1 Quarter
Increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$10.82M	USD	1 Quarter
Cash and cash equivalents, beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$7.01M	USD	Point-in-time
Cash and cash equivalents, beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$17.36M	USD	Point-in-time
Cash and cash equivalents, beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$4.49M	USD	Point-in-time
Cash and cash equivalents, beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$6.55M	USD	Point-in-time
Cash and cash equivalents, end of the period	`CashAndCashEquivalentsAtCarryingValue`	$7.01M	USD	Point-in-time
Cash and cash equivalents, end of the period	`CashAndCashEquivalentsAtCarryingValue`	$17.36M	USD	Point-in-time
Cash and cash equivalents, end of the period	`CashAndCashEquivalentsAtCarryingValue`	$4.49M	USD	Point-in-time
Cash and cash equivalents, end of the period	`CashAndCashEquivalentsAtCarryingValue`	$6.55M	USD	Point-in-time

Stockholders Equity 11 line items

Line Item	Tag	Value	Unit	Period
Balance (in shares)	`CommonStockSharesOutstanding`	13.56M	shares	Point-in-time
Balance (in shares)	`CommonStockSharesOutstanding`	13.50M	shares	Point-in-time
Balance	`StockholdersEquity`	$40.38M	USD	Point-in-time
Balance	`StockholdersEquity`	$33.23M	USD	Point-in-time
Net income	`NetIncomeLoss`	$5.34M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.22M	USD	1 Quarter
Options exercised (in shares)	`StockIssuedDuringPeriodSharesStockOptionsExercised`	712,839.00	shares	1 Quarter
Balance (in shares)	`CommonStockSharesOutstanding`	13.56M	shares	Point-in-time
Balance (in shares)	`CommonStockSharesOutstanding`	13.50M	shares	Point-in-time
Balance	`StockholdersEquity`	$40.38M	USD	Point-in-time
Balance	`StockholdersEquity`	$33.23M	USD	Point-in-time

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