Company: APT
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001437749-25-025400
Chunk: 7

Company: ALPHA PRO TECH LTD
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 7
---
 respectively, from Harmony. For the three months ended June 30, 2025 and 2024, the Company sold $415,000and $240,000of inventories, respectively, to Harmony. For the six months ended June 30, 2025 and 2024, the Company sold $415,000and $240,000of inventories, respectively, to Harmony. For the three months ended June 30, 2025 and 2024, the Company recorded equity in income of unconsolidated affiliate of $137,000and $200,000, respectively, related to Harmony. For the six months ended June 30, 2025 and 2024, the Company recorded equity in income of unconsolidated affiliate of $278,000and $338,000, respectively, related to Harmony.

As of June 30, 2025, the Company’s investment in Harmony was $6,005,000, which consisted of its original $1,450,000investment and cumulative equity in income of unconsolidated affiliate of $7,160,000, less $942,000in repayments of an advance, $77,000in payments of dividends, and $1,586,000in AOCL on foreign currency translations.

  Accrued Liabilities  
 ───────────────────────

As of June 30, 2025 and December 31, 2024, accrued liabilities consisted of the following:

                                                                       June 30,                   December 31,               
                                                                       2025                       2024                       
 ─────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Payroll expenses and taxes payable                                   $             196,000      $                 221,000  
  Commissions and bonuses payable and general accrued liabilities                    498,000                        726,000  
  Total accrued liabilities                                            $             694,000      $                 947,000  

  Basic and Diluted Earnings Per Common Share  
 ───────────────────────────────────────────────

The following table provides a reconciliation of both net income and the number of shares used in the computation of “basic” earnings per common share (“ EPS”), which utilizes the weighted average number of common shares outstanding without regard to dilutive shares, and “diluted” EPS, which includes all such dilutive shares, for the three and six months ended June 30, 2025 and 2024:

                                                          For the Three Months