Company: APT
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001437749-25-025400
Chunk: 25

Company: ALPHA PRO TECH LTD
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 25
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 the three months ended June 30, 2025, was $367,000, compared to $475,000 for the same period of 2024. The estimated effective tax rate was 22.8% for the three months ended June 30, 2025, compared to 22.4% for the three months ended June 30, 2024.

The provision for income taxes for the six months ended June 30, 2025, was $526,000, compared to $621,000 for the same period of 2024. The estimated effective tax rate was 22.1% for the six months ended June 30, 2025, compared to 21.9% for the six months ended June 30, 2024.

On July 4, 2025, the One Big Beautiful Bill Act (“ OBBBA”) was enacted, which includes permanent extensions of most expiring Tax Cuts and Jobs Act provisions and international tax changes. The Company is still evaluating the potential impacts of the OBBBA; however, the Company does not anticipate it will have a material impact on the Company’s financial statements.

The Company does not record a tax provision on equity in income of unconsolidated affiliate, which reduces the effective tax rate.

Net Income. Net income for the three months ended June 30, 2025, was $1,244,000 compared to net income of $1,644,000 for the same period of 2024, representing a decrease of $400,000, or 24.3%. The net income decrease between the three months ended June 30, 2025 and the same period of 2024 was due to a decrease in income before provision for income taxes of $508,000, partially offset by a decrease in provision for income taxes of $108,000. Net income as a percentage of net sales was 7.5% for the three months ended June 30, 2025, compared to 10.1% for the same period of 2024. Basic and diluted earnings per common share for each of the three months ended June 30, 2025 and 2024, was $0.12 and $0.15, respectively.

Net income for the six months ended June 30, 2025, was $1,857,000 compared to net income of $2,220,000 for the same period of 2024, representing a decrease of $363,