10-Q Filing

ALPHA PRO TECH LTD CIK: 884269 Q1 2021

Filing Information

Form Type	10-Q
Accession Number	`0001437749-21-011294`
Period End Date	20210331
Filing Date	20210507
Fiscal Year	2021
Fiscal Period	Q1
XBRL Instance	apt-20210331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 62 Income Statement 36 Cash Flow Statement 50 Stockholders Equity 21

Balance Sheet 62 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$76.00K	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$71.00K	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$17.88M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$23.29M	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 $76,000 as of March 31, 2021 and $71,000 as of December 31, 2020	`AccountsReceivableNetCurrent`	$8.13M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $76,000 as of March 31, 2021 and $71,000 as of December 31, 2020	`AccountsReceivableNetCurrent`	$6.75M	USD	Point-in-time
Accounts receivable, related party	`AccountsReceivableRelatedPartiesCurrent`	$905.00K	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	13.32M	shares	Point-in-time
Accounts receivable, related party	`AccountsReceivableRelatedPartiesCurrent`	$1.27M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	13.42M	shares	Point-in-time
Inventories, net	`InventoryNet`	$18.78M	USD	Point-in-time
Inventories, net	`InventoryNet`	$16.75M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$6.22M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$10.23M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$54.92M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$55.30M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$4.35M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$4.29M	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`	$6.00K	USD	Point-in-time
Definite-lived intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$7.00K	USD	Point-in-time
Right-of-use assets	`OperatingLeaseRightofuseAssetNoncurrent`	$3.54M	USD	Point-in-time
Right-of-use assets	`OperatingLeaseRightofuseAssetNoncurrent`	$3.31M	USD	Point-in-time
Equity investment in unconsolidated affiliate	`InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures`	$5.55M	USD	Point-in-time
Equity investment in unconsolidated affiliate	`InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures`	$5.87M	USD	Point-in-time
Total assets	`Assets`	$68.45M	USD	Point-in-time
Total assets	`Assets`	$68.80M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.98M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.22M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$2.79M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$1.76M	USD	Point-in-time
Customer advance payments of orders	`ContractWithCustomerLiabilityCurrent`	$113.00K	USD	Point-in-time
Customer advance payments of orders	`ContractWithCustomerLiabilityCurrent`	$209.00K	USD	Point-in-time
Lease liabilities	`OperatingLeaseLiabilityCurrent`	$871.00K	USD	Point-in-time
Lease liabilities	`OperatingLeaseLiabilityCurrent`	$867.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$5.85M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.96M	USD	Point-in-time
Lease liabilities, net of current portion	`OperatingLeaseLiabilityNoncurrent`	$2.72M	USD	Point-in-time
Lease liabilities, net of current portion	`OperatingLeaseLiabilityNoncurrent`	$2.50M	USD	Point-in-time
Deferred income tax liabilities, net	`DeferredIncomeTaxLiabilitiesNet`	$211.00K	USD	Point-in-time
Deferred income tax liabilities, net	`DeferredIncomeTaxLiabilitiesNet`	$211.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$6.67M	USD	Point-in-time
Total liabilities	`Liabilities`	$8.78M	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; 13,323,341 and 13,419,847 shares outstanding as of March 31, 2021 and December 31, 2020, respectively	`CommonStockValue`	$134.00K	USD	Point-in-time
Common stock, $.01 par value: 50,000,000 shares authorized; 13,323,341 and 13,419,847 shares outstanding as of March 31, 2021 and December 31, 2020, respectively	`CommonStockValue`	$135.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$409.00K	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$59.48M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$61.65M	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 shareholders' equity	`StockholdersEquity`	$61.78M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$60.02M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$68.80M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$68.45M	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerIncludingAssessedTax`	$23.16M	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerIncludingAssessedTax`	$18.15M	USD	1 Quarter
Cost of goods sold, excluding depreciation and amortization	`CostOfGoodsAndServicesSold`	$13.98M	USD	1 Quarter
Cost of goods sold, excluding depreciation and amortization	`CostOfGoodsAndServicesSold`	$9.60M	USD	1 Quarter
Gross profit	`GrossProfit`	$9.18M	USD	1 Quarter
Gross profit	`GrossProfit`	$8.55M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$4.58M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$4.10M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$182.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$198.00K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$4.28M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$4.78M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$4.27M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$4.40M	USD	1 Quarter
Equity in income of unconsolidated affiliate	`IncomeLossFromEquityMethodInvestments`	$322.00K	USD	1 Quarter
Equity in income of unconsolidated affiliate	`IncomeLossFromEquityMethodInvestments`	$87.00K	USD	1 Quarter
Loss on marketable securities	`DebtSecuritiesAvailableForSaleGainLoss`	$-59.00K	USD	1 Quarter
Loss on marketable securities	`DebtSecuritiesAvailableForSaleGainLoss`	-	USD	1 Quarter
Interest income, net	`InterestIncomeExpenseNonoperatingNet`	$16.00K	USD	1 Quarter
Interest income, net	`InterestIncomeExpenseNonoperatingNet`	$1.00K	USD	1 Quarter
Total other income	`NonoperatingIncomeExpense`	$44.00K	USD	1 Quarter
Total other income	`NonoperatingIncomeExpense`	$323.00K	USD	1 Quarter
Income before provision for income taxes	`IncomeLossAttributableToParent`	$4.73M	USD	1 Quarter
Income before provision for income taxes	`IncomeLossAttributableToParent`	$4.31M	USD	1 Quarter
Provision (benefit) for income taxes	`IncomeTaxExpenseBenefit`	$1.01M	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`	$3.72M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.41	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.28	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.27	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.39	USD	1 Quarter
Basic weighted average common shares outstanding (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	13.34M	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`	13.72M	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`	$3.72M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$101.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$91.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$182.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$198.00K	USD	1 Quarter
Loss on marketable equity securities	`DebtSecuritiesAvailableForSaleGainLoss`	$-59.00K	USD	1 Quarter
Loss on marketable equity securities	`DebtSecuritiesAvailableForSaleGainLoss`	-	USD	1 Quarter
Equity in income of unconsolidated affiliate	`IncomeLossFromEquityMethodInvestments`	$322.00K	USD	1 Quarter
Equity in income of unconsolidated affiliate	`IncomeLossFromEquityMethodInvestments`	$87.00K	USD	1 Quarter
Operating lease expense, net of accretion	`OperatingLeaseExpenseNetOfAccretion`	$220.00K	USD	1 Quarter
Operating lease expense, net of accretion	`OperatingLeaseExpenseNetOfAccretion`	$224.00K	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-1.38M	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$3.79M	USD	1 Quarter
Accounts receivable, related party	`IncreaseDecreaseInDueFromRelatedParties`	$370.00K	USD	1 Quarter
Accounts receivable, related party	`IncreaseDecreaseInDueFromRelatedParties`	$192.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-155.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$2.03M	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$650.00K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$4.01M	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-1.79M	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$1.07M	USD	1 Quarter
Customer advance payments of orders	`IncreaseDecreaseInContractWithCustomerLiability`	$-96.00K	USD	1 Quarter
Customer advance payments of orders	`IncreaseDecreaseInContractWithCustomerLiability`	$7.16M	USD	1 Quarter
Lease liabilities	`IncreaseDecreaseInOperatingLeaseLiability`	$-221.00K	USD	1 Quarter
Lease liabilities	`IncreaseDecreaseInOperatingLeaseLiability`	$-219.00K	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$9.34M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-3.22M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$288.00K	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$130.00K	USD	1 Quarter
Proceeds from sales of marketable securities	`ProceedsFromSaleOfAvailableForSaleSecuritiesDebt`	$47.00K	USD	1 Quarter
Proceeds from sales of marketable securities	`ProceedsFromSaleOfAvailableForSaleSecuritiesDebt`	-	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-241.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-130.00K	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromPaymentsForStockOptionsExercised`	$1.84M	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromPaymentsForStockOptionsExercised`	$308.00K	USD	1 Quarter
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$125.00K	USD	1 Quarter
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$2.37M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-2.06M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.72M	USD	1 Quarter
Increase (decrease) in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-5.41M	USD	1 Quarter
Increase (decrease) in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$10.82M	USD	1 Quarter
Cash, beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$17.88M	USD	Point-in-time
Cash, beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$17.36M	USD	Point-in-time
Cash, beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$6.55M	USD	Point-in-time
Cash, beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$23.29M	USD	Point-in-time
Cash, end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$17.88M	USD	Point-in-time
Cash, end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$17.36M	USD	Point-in-time
Cash, end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$6.55M	USD	Point-in-time
Cash, end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$23.29M	USD	Point-in-time

Stockholders Equity 21 line items

Line Item	Tag	Value	Unit	Period
Balance (in shares)	`CommonStockSharesOutstanding`	13.32M	shares	Point-in-time
Balance (in shares)	`CommonStockSharesOutstanding`	13.42M	shares	Point-in-time
Balance	`StockholdersEquity`	$40.38M	USD	Point-in-time
Balance	`StockholdersEquity`	$33.23M	USD	Point-in-time
Balance	`StockholdersEquity`	$61.78M	USD	Point-in-time
Balance	`StockholdersEquity`	$60.02M	USD	Point-in-time
Net income	`NetIncomeLoss`	$5.34M	USD	1 Quarter
Net income	`NetIncomeLoss`	$3.72M	USD	1 Quarter
Common stock repurchased and retired	`StockRepurchasedAndRetiredDuringPeriodValue`	$2.37M	USD	1 Quarter
Common stock repurchased and retired	`StockRepurchasedAndRetiredDuringPeriodValue`	$125.00K	USD	1 Quarter
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$91.00K	USD	1 Quarter
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$101.00K	USD	1 Quarter
Options exercised (in shares)	`StockIssuedDuringPeriodSharesStockOptionsExercised`	89,494.00	shares	1 Quarter
Options exercised	`StockIssuedDuringPeriodValueStockOptionsExercised`	$1.84M	USD	1 Quarter
Options exercised	`StockIssuedDuringPeriodValueStockOptionsExercised`	$308.00K	USD	1 Quarter
Balance (in shares)	`CommonStockSharesOutstanding`	13.32M	shares	Point-in-time
Balance (in shares)	`CommonStockSharesOutstanding`	13.42M	shares	Point-in-time
Balance	`StockholdersEquity`	$40.38M	USD	Point-in-time
Balance	`StockholdersEquity`	$33.23M	USD	Point-in-time
Balance	`StockholdersEquity`	$61.78M	USD	Point-in-time
Balance	`StockholdersEquity`	$60.02M	USD	Point-in-time

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