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Alpha Pro Tech net income rises 4.7% in 2012
06
Mar '13
Alpha Pro Tech, Ltd. a leading manufacturer of products designed to protect people, products and environments, including disposable protective apparel and building products,announced financial results for the three months and year ended December 31, 2012.

Consolidated sales for the fourth quarter increased 7.5% to $9.8 million from $9.2 million for the comparable quarter of 2011. Building Supply segment sales for the three months ended December 31, 2012 increased by 23.3% to $5.9 million compared to $4.8 million for the same period of 2011. The sales mix of the Building Supply segment for the three months ended December 31, 2012 was 66% for synthetic roof underlayment and 34% for housewrap.

This compared to 69% for synthetic roof underlayment and 31% for housewrap for the fourth quarter of 2011. Sales for the Disposable Protective Apparel segment for the three months ended December 31, 2012 decreased 14.7% to $3.0 million, compared to $3.5 million for the same period of 2011. Infection Control segment sales for the three months ended December 31, 2012 increased by 10.9% to $973,000 compared to $877,000 for the same period of 2011.

Al Millar, President of Alpha Pro Tech, commented, “Overall sales increased for the fourth quarter of 2012 from the prior year period, led by a strong quarter of Building Supply and Infection Control segment sales. In early 2012, we introduced TECHNOply, an economy version of our synthetic roof underlayment, to capture market share in the lower end of the market. This product contributed approximately 14% in the most recent quarter and contributed approximately 6% of total synthetic roof underlayment sales for 2012. We expect this to be a growth product for the Company.

Sales of our REX Wrap Fortis non-perforated breathable housewrap continue to be lower than anticipated, although sales of this product are expected to contribute more significantly to the sales line in 2013. We saw increased sales of this product in the fourth quarter of 2012, which accounted for almost half of the product’s total sales in 2012, and we expect new distribution in the coming year. We believe that the outlook for the Building Supply segment is promising and that we are in a good position to take advantage of significant growth prospects as the housing market continues to recover.”

Consolidated sales for the year ended December 31, 2012 increased 6.6% to $41.1 million from $38.5 million for 2011. This increase consisted of increased sales in the Building Supply and Disposable Protective Apparel segments, partially offset by decreased sales in the Infection Control segment.

Building Supply segment sales for the year ended December 31, 2012 increased 10.0% to $23.7 million, compared to $21.6 million for 2011. The sales mix of the Building Supply segment for the year ended December 31, 2012 was 67% for synthetic roof underlayment and 33% for housewrap.

This compares to 69% for synthetic roof underlayment and 31% for housewrap for 2011. Sales for the Disposable Protective Apparel segment for the year ended December 31, 2012 increased 5.0% to $13.2 million, compared to $12.6 million for 2011.


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