Alpha Pro Tech Ltd removed from the GeoBargain on the Radar List due to weak 2010 estimates. Plan to revisit as we approach 2011.
Added to the GeoBargain list on August 18, 2009 @ $3.50.Removed from the GeoBargain List on February 23, 2010 @ $3.40
Current Price: $2.29
Reached a high $7.60 in October of 2009.
Al Millar, President of Alpha Pro Tech, commented, "Our fourth quarter revenues and profitability continued the positive momentum that we experienced in our earlier quarters in 2009, which allowed us to deliver record results. We continued to see substantial sales growth in our REX Synfelt synthetic roof underlayment and, to a lesser extent, our house wrap products. We are currently working on opportunities with existing and new distributors, and we are optimistic about the Building Supply segment throughout 2010 and further into the future. In the Disposable Protective Apparel segment, we expect increased sales from a broad base of our distributors in 2010, but sales to our largest distributor, which were up in 2009, are expected to soften in 2010. Our N-95 Particulate Respirator face mask sales started to slow down in the latter part of the fourth quarter and are expected to return to pre-H1N1 levels in 2010, unless concerns relating to the global H1N1 Influenza A pandemic resume."
Source: Business Wire (March 9, 2010)
Alpha Pro Tech return on equity now exceeds 15%.
On August 6, 2009, the GeoTeam coded Alpha Pro Tech (NYSE Amex:APT) as a GeoSpecial at $3.57 after the company reported strong 2009 second quarter financial results. It was subsequently added to the GeoBargain list on August 18, 2009. Although we never established a large investment position in Alpha Pro Tech, we had been monitoring the company for several years. Over the past three years the Company's revenues were relatively stagnant and its earnings per share growth was far from spectacular.
Major topics to be addressed:
1. Was this quarter an aberration? Will the company revert back to reporting earnings per share figures between $0.02 to $0.05 as it has over the past three years.
2. The Company has seen a significant contribution to its revenues from its N-95 respirator masks. It has been able to take advantage of public concern over the swine influenza A (H1N1 Influenza A) virus infection pandemic. How long will this trend last? What happens when influenza concerns are alleviated?
3. Alpha ProTech manufactures and markets a line of construction weatherization products, including building wrap and roof underlayment. What are the prospects of this product line in the midst of the current economic environment? As the housing market has suffered, how has the company been able to experience robust growth in this product line?
As we listened to a replay of the company's second quarter conference call, we heard the company portray a sense of bullishness and confidence in the continuation of its current growth trend, possibly alleviating our concerns that this quarter's financial results were an anomaly.The GeoTeam® will have more details soon.
GeoNuggets® - Quick Check List Highlighting Undiscovered OpportunitiesReclassified from a GeoSpecial to a GeoBargain on August 18, 2009 at $3.50 Alpha Pro Tech Inc. (NYSE AMEX:APT) Company Description: Alpha Pro Tech, Inc. develops, manufactures and markets innovative disposable and limited-use protective apparel products for the industrial, clean room, medical and dental markets. In addition, Alpha ProTech Engineered Products, Inc. manufactures and markets a line of construction weatherization products, including building wrap and roof underlayment. Data Ended 8/24/09
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