Company: APT
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001437749-25-025400
Chunk: 43

Company: ALPHA PRO TECH LTD
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 2
Chunk 43
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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 $363,000, or 16.4%. The net income decrease between the six months ended June 30, 2025 and the same period of 2024 was due to a decrease in income before provision for income taxes of $458,000, partially offset by a decrease in provision for income taxes of $95,000. Net income as a percentage of net sales was 6.1% for the six months ended June 30, 2025, compared to 7.5% for the same period of 2024. Basic and diluted earnings per common share for each of the six months ended June 30, 2025 and 2024, was $0.18 and $0.20, respectively.

22

Alpha Pro Tech, Ltd.

LIQUIDITY AND CAPITAL RESOURCES

As of June 30, 2025, the Company had cash and cash equivalents (“cash”) of $14,464,000 and working capital of $47,528,000. As of June 30, 2025, the Company’s current ratio (current assets/current liabilities) was 17:1. Cash decreased by 22.4%, or $4,172,000, to $14,464,000 as of June 30, 2025, compared to $18,636,000 as of December 31, 2024, and working capital increased by $12,000, to $47,528,000 from $47,516,000 as of December 31, 2024. The decrease in cash from December 31, 2024, was due to cash used in operating activities of $1,871,000, cash