Alpha Pro Tech Q2 net income up 65% to $1.1M; sales down 7.2% to $16.1M

ALPHA PRO TECH LTD

2023-Q2 EPS reported $0.14 revenue$29,914,000

EPS of $0.10, vs $0.05 in Q2 2022; net income $1.1M vs $693K.
Housewrap sales up 17.6% vs Q2 2022, outperforming 14.5% drop in U.S. single-family housing starts.
Disposable Protective Apparel segment sales down 14.9% to $5.6M, garment sales up 7.6% but masks down 71.6%.
Gross margin improved 560 bps to 37.9% on lower ocean freight rates; $15.3M cash, no debt.
Company repurchased 475K shares for $1.9M in H1 2023; $2.3M remaining on buyback program.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

ALPHA PRO TECH LTD reported the second quarter and six months ended June 30, 2023 results: revenue $16.1 million, net income $1.1 million, or $0.10 per diluted share.

Period: the second quarter and six months ended June 30, 2023
Revenue: $16.1 million
Net income: $1.1 million, or $0.10 per diluted share
Result: reported results

Exact text from the filing

HIR Holdings Donna Millar Cameron Donahue 905-479-0654 651-707-3532 e-mail: ir@alphaprotech.com e-mail: cameron@hirholdings.com ● Net sales for the second quarter of 2023 were $16.1 million, down 7.2%, compared to $17.4 million for the second quarter of 2022 o Building Supply segment sales decreased by $280,000, or 2.6%, to $10.5 million, compared to $10.8 million

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Source: SEC EDGAR

accession 0001437749-23-022413

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