Alpha Pro Tech Announces Financial Results for the Fourth Quarter and Year Ended December 31, 2017

Alpha Pro Tech (NYSE:APT), a leading manufacturer of products designed to protect people, products and environments, including disposable protective apparel and building products, today announced financial results for the fourth quarter and year ended December 31, 2017.

As quoted in the press release:

Lloyd Hoffman, President and Chief Executive Officer of Alpha Pro Tech, Ltd., commented, “Our 2017 financial results were bolstered by a nearly three percentage point increase in gross profit margin, despite lower net sales. Management remains focused on strategies to manage our cost platform to maximize gross profit potential and will continue to concentrate on inventory levels across all business segments. Net income for 2017, although down, was negatively impacted by a $619,000 accrual related to the death benefit provided in the employment agreement of our former President and Chairman. Excluding this accrual, net income would have been down by only 1.2% compared to 2016, and earnings per share would actually have been $0.21 per diluted share, compared to $0.19 for 2016. Our balance sheet remains healthy, and the generation of cash from operations supports our active share repurchase program, which directly returns value to our shareholders.”

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