10-Q Filing

ALPHA PRO TECH LTD CIK: 884269 Q2 2020

Filing Information

Form Type	10-Q
Accession Number	`0001437749-20-016898`
Period End Date	20200630
Filing Date	20200806
Fiscal Year	2020
Fiscal Period	Q2
XBRL Instance	apt-20200630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 62 Income Statement 72 Cash Flow Statement 58 Stockholders Equity 13

Balance Sheet 62 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$53.00K	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$62.00K	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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$24.73M	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`	$270.00K	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Investments	`AvailableForSaleSecuritiesCurrent`	$335.00K	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 $62,000 as of June 30, 2020 and $53,000 as of December 31, 2019	`AccountsReceivableNetCurrent`	$3.57M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $62,000 as of June 30, 2020 and $53,000 as of December 31, 2019	`AccountsReceivableNetCurrent`	$6.66M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	12.89M	shares	Point-in-time
Accounts receivable, related party	`AccountsReceivableRelatedPartiesCurrent`	$724.00K	USD	Point-in-time
Accounts receivable, related party	`AccountsReceivableRelatedPartiesCurrent`	$952.00K	USD	Point-in-time
Inventories	`InventoryNet`	$11.98M	USD	Point-in-time
Inventories	`InventoryNet`	$11.30M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$3.59M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$4.11M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$48.71M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$26.07M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$3.94M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$4.00M	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`	$9.00K	USD	Point-in-time
Definite-lived intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$11.00K	USD	Point-in-time
Right-of-use assets	`OperatingLeaseRightofuseAssetNoncurrent`	$2.73M	USD	Point-in-time
Right-of-use assets	`OperatingLeaseRightofuseAssetNoncurrent`	$3.18M	USD	Point-in-time
Equity investment in unconsolidated affiliate	`InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures`	$5.04M	USD	Point-in-time
Equity investment in unconsolidated affiliate	`InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures`	$4.84M	USD	Point-in-time
Total assets	`Assets`	$60.55M	USD	Point-in-time
Total assets	`Assets`	$38.09M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$501.00K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.58M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$920.00K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$1.72M	USD	Point-in-time
Customer advance payments of orders	`ContractWithCustomerLiabilityCurrent`	-	USD	Point-in-time
Customer advance payments of orders	`ContractWithCustomerLiabilityCurrent`	$6.47M	USD	Point-in-time
Lease liabilities	`OperatingLeaseLiabilityCurrent`	$889.00K	USD	Point-in-time
Lease liabilities	`OperatingLeaseLiabilityCurrent`	$882.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$11.66M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.30M	USD	Point-in-time
Lease liabilities, net of current portion	`OperatingLeaseLiabilityNoncurrent`	$1.89M	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`	$13.77M	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 12,885,273 shares outstanding as of June 30, 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 12,885,273 shares outstanding as of June 30, 2020 and December 31, 2019, respectively	`CommonStockValue`	$129.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$2.69M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$708.00K	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$32.39M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$43.95M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$46.78M	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`	$60.55M	USD	Point-in-time

Income Statement 72 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerIncludingAssessedTax`	$23.72M	USD	2 Qtrs
Net sales	`RevenueFromContractWithCustomerIncludingAssessedTax`	$43.65M	USD	2 Qtrs
Net sales	`RevenueFromContractWithCustomerIncludingAssessedTax`	$25.50M	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerIncludingAssessedTax`	$11.41M	USD	1 Quarter
Cost of goods sold, excluding depreciation and amortization	`CostOfGoodsAndServicesSold`	$12.89M	USD	1 Quarter
Cost of goods sold, excluding depreciation and amortization	`CostOfGoodsAndServicesSold`	$14.81M	USD	2 Qtrs
Cost of goods sold, excluding depreciation and amortization	`CostOfGoodsAndServicesSold`	$7.31M	USD	1 Quarter
Cost of goods sold, excluding depreciation and amortization	`CostOfGoodsAndServicesSold`	$22.49M	USD	2 Qtrs
Gross profit	`GrossProfit`	$21.17M	USD	2 Qtrs
Gross profit	`GrossProfit`	$8.91M	USD	2 Qtrs
Gross profit	`GrossProfit`	$4.11M	USD	1 Quarter
Gross profit	`GrossProfit`	$12.61M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$8.66M	USD	2 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$4.55M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$6.94M	USD	2 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$3.26M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$267.00K	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$178.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$140.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$360.00K	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$7.20M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$4.73M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$9.02M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$3.40M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$12.15M	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$1.71M	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$7.88M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$704.00K	USD	1 Quarter
Equity in income of unconsolidated affiliate	`IncomeLossFromEquityMethodInvestments`	$361.00K	USD	2 Qtrs
Equity in income of unconsolidated affiliate	`IncomeLossFromEquityMethodInvestments`	$119.00K	USD	1 Quarter
Equity in income of unconsolidated affiliate	`IncomeLossFromEquityMethodInvestments`	$206.00K	USD	2 Qtrs
Equity in income of unconsolidated affiliate	`IncomeLossFromEquityMethodInvestments`	$84.00K	USD	1 Quarter
Gain (loss) on marketable securities	`DebtSecuritiesAvailableForSaleGainLoss`	$609.00K	USD	2 Qtrs
Gain (loss) on marketable securities	`DebtSecuritiesAvailableForSaleGainLoss`	$-18.00K	USD	2 Qtrs
Gain (loss) on marketable securities	`DebtSecuritiesAvailableForSaleGainLoss`	$439.00K	USD	1 Quarter
Gain (loss) on marketable securities	`DebtSecuritiesAvailableForSaleGainLoss`	$41.00K	USD	1 Quarter
Interest income, net	`InterestIncomeExpenseNonoperatingNet`	$21.00K	USD	1 Quarter
Interest income, net	`InterestIncomeExpenseNonoperatingNet`	$34.00K	USD	2 Qtrs
Interest income, net	`InterestIncomeExpenseNonoperatingNet`	$16.00K	USD	2 Qtrs
Interest income, net	`InterestIncomeExpenseNonoperatingNet`	-	USD	1 Quarter
Total other income	`NonoperatingIncomeExpense`	$160.00K	USD	1 Quarter
Total other income	`NonoperatingIncomeExpense`	$544.00K	USD	1 Quarter
Total other income	`NonoperatingIncomeExpense`	$1.00M	USD	2 Qtrs
Total other income	`NonoperatingIncomeExpense`	$204.00K	USD	2 Qtrs
Income before provision for income taxes	`IncomeLossAttributableToParent`	$12.36M	USD	2 Qtrs
Income before provision for income taxes	`IncomeLossAttributableToParent`	$8.04M	USD	1 Quarter
Income before provision for income taxes	`IncomeLossAttributableToParent`	$1.25M	USD	1 Quarter
Income before provision for income taxes	`IncomeLossAttributableToParent`	$2.71M	USD	2 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$238.00K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$794.00K	USD	2 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$481.00K	USD	2 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$1.82M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.01M	USD	1 Quarter
Net income	`NetIncomeLoss`	$11.56M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$2.23M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$6.22M	USD	1 Quarter
Basic earnings per common share (in dollars per share)	`EarningsPerShareBasic`	$0.87	USD	2 Qtrs
Basic earnings per common share (in dollars per share)	`EarningsPerShareBasic`	$0.17	USD	2 Qtrs
Basic earnings per common share (in dollars per share)	`EarningsPerShareBasic`	$0.47	USD	1 Quarter
Basic earnings per common share (in dollars per share)	`EarningsPerShareBasic`	$0.08	USD	1 Quarter
Diluted earnings per common share (in dollars per share)	`EarningsPerShareDiluted`	$0.84	USD	2 Qtrs
Diluted earnings per common share (in dollars per share)	`EarningsPerShareDiluted`	$0.46	USD	1 Quarter
Diluted earnings per common share (in dollars per share)	`EarningsPerShareDiluted`	$0.17	USD	2 Qtrs
Diluted earnings per common share (in dollars per share)	`EarningsPerShareDiluted`	$0.08	USD	1 Quarter
Basic weighted average common shares outstanding (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	13.18M	shares	1 Quarter
Basic weighted average common shares outstanding (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	13.29M	shares	2 Qtrs
Basic weighted average common shares outstanding (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	13.35M	shares	1 Quarter
Basic weighted average common shares outstanding (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	13.35M	shares	2 Qtrs
Diluted weighted average common shares outstanding (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	13.81M	shares	2 Qtrs
Diluted weighted average common shares outstanding (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	13.65M	shares	1 Quarter
Diluted weighted average common shares outstanding (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	13.35M	shares	2 Qtrs
Diluted weighted average common shares outstanding (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	13.21M	shares	1 Quarter

Cash Flow Statement 58 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$1.01M	USD	1 Quarter
Net income	`NetIncomeLoss`	$11.56M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$2.23M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$6.22M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$260.00K	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$183.00K	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$267.00K	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$178.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$140.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$360.00K	USD	2 Qtrs
Loss (gain) on marketable securities	`DebtSecuritiesAvailableForSaleGainLoss`	$609.00K	USD	2 Qtrs
Loss (gain) on marketable securities	`DebtSecuritiesAvailableForSaleGainLoss`	$-18.00K	USD	2 Qtrs
Loss (gain) on marketable securities	`DebtSecuritiesAvailableForSaleGainLoss`	$439.00K	USD	1 Quarter
Loss (gain) on marketable securities	`DebtSecuritiesAvailableForSaleGainLoss`	$41.00K	USD	1 Quarter
Equity in income of unconsolidated affiliate	`IncomeLossFromEquityMethodInvestments`	$361.00K	USD	2 Qtrs
Equity in income of unconsolidated affiliate	`IncomeLossFromEquityMethodInvestments`	$119.00K	USD	1 Quarter
Equity in income of unconsolidated affiliate	`IncomeLossFromEquityMethodInvestments`	$206.00K	USD	2 Qtrs
Equity in income of unconsolidated affiliate	`IncomeLossFromEquityMethodInvestments`	$84.00K	USD	1 Quarter
Operating lease expense, net of accretion	`OperatingLeaseExpenseNetOfAccretion`	$450.00K	USD	2 Qtrs
Operating lease expense, net of accretion	`OperatingLeaseExpenseNetOfAccretion`	$366.00K	USD	2 Qtrs
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$250.00K	USD	2 Qtrs
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$3.09M	USD	2 Qtrs
Accounts receivable, related party	`IncreaseDecreaseInDueFromRelatedParties`	$228.00K	USD	2 Qtrs
Accounts receivable, related party	`IncreaseDecreaseInDueFromRelatedParties`	$454.00K	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$991.00K	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$677.00K	USD	2 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$523.00K	USD	2 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-589.00K	USD	2 Qtrs
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-525.00K	USD	2 Qtrs
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$2.87M	USD	2 Qtrs
Customer advance payments of orders	`IncreaseDecreaseInContractWithCustomerLiability`	-	USD	2 Qtrs
Customer advance payments of orders	`IncreaseDecreaseInContractWithCustomerLiability`	$6.47M	USD	2 Qtrs
Lease liabilities	`IncreaseDecreaseInOperatingLeaseLiability`	$-443.00K	USD	2 Qtrs
Lease liabilities	`IncreaseDecreaseInOperatingLeaseLiability`	$-327.00K	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$16.75M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$193.00K	USD	2 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$419.00K	USD	2 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$254.00K	USD	2 Qtrs
Proceeds from sales of marketable securities	`ProceedsFromSaleOfAvailableForSaleSecuritiesDebt`	$47.00K	USD	2 Qtrs
Proceeds from sales of marketable securities	`ProceedsFromSaleOfAvailableForSaleSecuritiesDebt`	$133.00K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-372.00K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-121.00K	USD	2 Qtrs
Proceeds from exercise of stock options	`ProceedsFromPaymentsForStockOptionsExercised`	$59.00K	USD	2 Qtrs
Proceeds from exercise of stock options	`ProceedsFromPaymentsForStockOptionsExercised`	$1.94M	USD	2 Qtrs
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$1.64M	USD	2 Qtrs
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$125.00K	USD	2 Qtrs
Net cash provided (used) in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.81M	USD	2 Qtrs
Net cash provided (used) in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.58M	USD	2 Qtrs
Increase (decrease) in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-1.50M	USD	2 Qtrs
Increase (decrease) in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$18.19M	USD	2 Qtrs
Cash, beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$6.55M	USD	Point-in-time
Cash, beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$24.73M	USD	Point-in-time
Cash, beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$5.50M	USD	Point-in-time
Cash, beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$7.01M	USD	Point-in-time
Cash, end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$6.55M	USD	Point-in-time
Cash, end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$24.73M	USD	Point-in-time
Cash, end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$5.50M	USD	Point-in-time
Cash, end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$7.01M	USD	Point-in-time

Stockholders Equity 13 line items

Line Item	Tag	Value	Unit	Period
Balance (in shares)	`CommonStockSharesOutstanding`	13.56M	shares	Point-in-time
Balance (in shares)	`CommonStockSharesOutstanding`	12.89M	shares	Point-in-time
Balance	`StockholdersEquity`	$46.78M	USD	Point-in-time
Balance	`StockholdersEquity`	$33.23M	USD	Point-in-time
Net income	`NetIncomeLoss`	$1.01M	USD	1 Quarter
Net income	`NetIncomeLoss`	$11.56M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$2.23M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$6.22M	USD	1 Quarter
Options exercised (in shares)	`StockIssuedDuringPeriodSharesStockOptionsExercised`	737,674.00	shares	2 Qtrs
Balance (in shares)	`CommonStockSharesOutstanding`	13.56M	shares	Point-in-time
Balance (in shares)	`CommonStockSharesOutstanding`	12.89M	shares	Point-in-time
Balance	`StockholdersEquity`	$46.78M	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.