Company: APT
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001437749-25-033545
Chunk: 24

Company: ALPHA PRO TECH LTD
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 24
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 Basic and diluted earnings per common share for each of the three months ended September 30, 2025 and 2024, was $0.09 and $0.08, respectively.

Net income for the nine months ended September 30, 2025, was $2,833,000 compared to net income of $3,082,000 for the same period of 2024, representing a decrease of $249,000, or 8.1%. The net income decrease between the nine months ended September 30, 2025 and the same period of 2024 was due to a decrease in income before provision for income taxes of $264,000, partially offset by a decrease in provision for income taxes of $15,000. Net income as a percentage of net sales was 6.3% for the nine months ended September 30, 2025, compared to 7.0% for the same period of 2024. Basic and diluted earnings per common share for each of the nine months ended September 30, 2025 and 2024, was $0.27 and $0.28, respectively.

LIQUIDITY AND CAPITAL RESOURCES

As of September 30, 2025, the Company had cash and cash equivalents (“cash”) of $17,658,000 and working capital of $48,078,000. As of September 30, 2025, the Company’s current ratio (current assets/current liabilities) was 14:1. Cash decreased by 5.2%, or $978,000, to $17,658,000 as of September 30, 2025, compared to $18,636,000 as of December 31, 2024, and working capital increased by $562,000, to $48,078,000 from $47,516,000 as of December 31, 2024. The decrease in cash from December 31, 2024, was due to cash used in investing activities of $372,000 and cash used in financing activities of $2,658,000 offset by cash provided by operating activities of $2,052,000.

Net cash provided by operating activities of $2,052,000 for the nine months ended September 30, 2025 was due to net income of $2,833,000, as adjusted primarily by the following: stock-based compensation expense of $408,000, depreciation and amortization expense of $686,000