Company: APT
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001437749-25-007218
Chunk: 39

Company: ALPHA PRO TECH LTD
Filing Date: 2025-03-12
Form: 10-K
Item: Item 7A
Chunk 39
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 such fiscal year, subject to a maximum payment of $1,000,000. The Company accrued $264,000for the year ended December 31, 2024, compared to $286,000for 2023, in connection with the bonus.

  14.      Activity of Business Segments  
 ──────────────────────────────────────────

The Company operates through twobusiness segments:

(1) BuildingSupply: consisting of a line of construction supply weatherization products. The construction supply weatherization products consist of housewrap and synthetic roof underlayment and synthetic roof underlayment accessories, as well as other woven material. The majority of the Company’s equity in income of unconsolidated affiliate (Harmony) is included in the total segment income for the Building Supply segment.

(2)Disposable Protective Apparel: consisting of a complete line of disposable protective garments, including shoecovers (including the Aqua Trak® and spunbond shoecovers), bouffant caps, coveralls, frocks, lab coats, gowns and hoods, as well as face masks and face shields for the pharmaceutical, cleanroom, industrial, medical and dental markets. A portion of the Company’s equity in income of unconsolidated affiliate (Harmony) is included in the total segment income for the Disposable Protective Apparel segment.

The accounting policies of the segments are the same as those described previously under Summary of Significant Accounting Policies (see Note 2). Segment data excludes charges allocated to the principal executive office and other corporate unallocated expenses and income taxes. The Company evaluates the performance of its segments and allocates resources to them based primarily on net sales.

The following table presents net sales for each segment:

                                     Years Ended December 31,                                            
                                     2024                                          2023                  
 ─────────────────────────────────────────────────────────────────────────────────────────────────────────
  Building Supply                    $                             35,965,000      $         40,396,000  
  Disposable Protective Apparel                                    21,875,000                20,836,000  
  Consolidated net sales             $                             57,840,000      $         61,232,000  

The following table presents the reconciliation of total segment income to total consolidated net income:

                                               Years Ended December 31,                                            
                                               2024                                          2023                  
 ───────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Building Supply                              $                              5,746,000      $