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Alpha Pro Tech Ltd. (APT+3.13%) has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing reports a decrease in net sales to $57,840,000 from $61,232,000 in the previous year, attributed to a decline in the Building Supply segment sales.
Building Supply segment sales decreased by 11.0% to $35,965,000, primarily due to reduced sales of housewrap and synthetic roof underlayment.
Disposable Protective Apparel segment sales increased by 5.0% to $21,875,000, driven by higher sales of disposable protective garments and face shields.
Gross profit increased slightly to $22,933,000 from $22,829,000, with the gross profit margin improving to 39.6% from 37.3%.
Selling, general, and administrative expenses rose by 4.7% to $18,611,000, largely due to increased compensation and marketing expenses.
Net income for the year was $3,929,000, down from $4,189,000 in the previous year, with earnings per share remaining at $0.35.
The company reported cash and cash equivalents of $18,636,000 as of December 31, 2024, with a working capital of $47,516,000.
Alpha Pro Tech continues to focus on expanding its product offerings and exploring new market opportunities, despite challenges in the housing market and increased competition.
The company maintains a strong liquidity position and expects to fund future growth through cash on hand and operating cash flows.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Alpha Pro Tech Ltd. annual 10-K report dated March 12, 2025. To report an error, please email earnings@qz.com.