Earnings Calls

Last Earnings Call

Fiscal Period
Q4 2012
Call Date
Mar 6, 2013
AI Summary
Q4 2012

Revenue: Alpha Pro Tech said 2012 revenue rose 6.6% to $41.1 million, but that fell short of the company’s 10% target for the year.

Profitability: Full-year net income increased 4.7% to $977,000, while fourth-quarter net income fell to $118,000 from $355,000 as expenses rose.

Building Supply: This was the strongest business, with 2012 sales up 10% to a record $23.7 million and fourth-quarter sales up 23% on strong housewrap and roof underlayment demand.

Margins: Gross margin declined to 34.4% in the quarter and 35.2% for the year, pressured by higher raw material costs and competitive pricing in Building Supply; management said 35% to 36% remains the target range.

Outlook: Management expects Building Supply products such as TECHNOply and REX Wrap Fortis to gain more traction in 2013, helped by new distribution agreements.

Capital: The company ended the year with no debt, $4.6 million of cash, and an expanded share buyback authorization of $2 million.

Investor focus: In Q&A, management said Q4 profitability was mainly hurt by higher bonuses and sales and marketing costs, and they reiterated that more revenue growth should improve earnings leverage.

Key Financials
Revenue
$41.1 million
Fourth-quarter revenue
$9.8 million
Net income
$977,000
Fourth-quarter net income
$118,000
Basic and diluted EPS
$0.05
Fourth-quarter EPS
$0.01
Gross margin
35.2%
Fourth-quarter gross margin
34.4%
Selling, general and administrative expenses
$12.9 million
SG&A as a percentage of sales
31%
Cash
$4.6 million
Inventory
$17.2 million
Current ratio
19 to 1
Share repurchases
1.1 million shares
Cumulative share repurchases
8.6 million shares
Cumulative buyback cost
$10.8 million
Building Supply revenue
$23.7 million
Fourth-quarter Building Supply revenue
$5.9 million
Disposable Protective Apparel revenue
$13.2 million
Fourth-quarter Disposable Protective Apparel revenue
$3.0 million
Infection Control revenue
$4.1 million
Fourth-quarter Infection Control revenue
$1.0 million
Earnings Call Recording

Other Earnings Calls

2012