Alpha Pro Tech Ltd (APT) has reported an 181.67 percent jump in profit for the quarter ended Dec. 31, 2016. The company has earned $0.84 million, or $0.05 a share in the quarter, compared with $0.30 million, or $0.02 a share for the same period last year. Revenue during the quarter went down marginally by 1.87 percent to $9.84 million from $10.03 million in the previous year period. Gross margin for the quarter expanded 325 basis points over the previous year period to 37.41 percent. Total expenses were 92.43 percent of quarterly revenues, down from 95.66 percent for the same period last year. This has led to an improvement of 323 basis points in operating margin to 7.57 percent.
Operating income for the quarter was $0.74 million, compared with $0.44 million in the previous year period.
Lloyd Hoffman, chief executive officer of Alpha Pro Tech, commented, “We significantly increased overall profitability on higher sales in our Building Supply and Infection Control segments in 2016, while navigating periods of increased competition in the roofing market and softness in the market for our Disposable Protective Apparel segment products. We are optimistic about opportunities in 2017 given recent forecasts for steady economic growth and a rise in homebuilder confidence in 2016.”
Working capital declines
Alpha Pro Tech Ltd has witnessed a decline in the working capital over the last year. It stood at $27.20 million as at Dec. 31, 2016, down 12.05 percent or $3.73 million from $30.93 million on Dec. 31, 2015. Current ratio was at 12.03 as on Dec. 31, 2016, down from 15.35 on Dec. 31, 2015.
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