Alpha Pro Tech (APT) 10-Q 9 May 18 2018 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2018	May 03, 2018
Document Information [Line Items]
Entity Registrant Name	ALPHA PRO TECH LTD
Entity Central Index Key	884,269
Trading Symbol	apt
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Common Stock, Shares Outstanding (in shares)		14,187,747
Document Type	10-Q
Document Period End Date	Mar. 31, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q1
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)	Mar. 31, 2018	Dec. 31, 2017
Current assets:
Cash	$ 5,666,000	$ 8,763,000	[1]
Investments	375,000	343,000	[1]
Accounts receivable, net of allowance for doubtful accounts of $83,000 as of March 31, 2018 and December 31, 2017	6,463,000	4,597,000	[1]
Accounts receivable, related party	381,000	361,000	[1]
Inventories	10,635,000	10,249,000	[1]
Prepaid expenses	3,455,000	2,665,000	[1]
Total current assets	26,975,000	26,978,000	[1]
Property and equipment, net	3,115,000	3,158,000	[1]
Goodwill	55,000	55,000	[1]
Definite-lived intangible assets, net	20,000	21,000	[1]
Deferred income tax assets	19,000	19,000	[1]
Equity investments in unconsolidated affiliate	4,032,000	3,893,000	[1]
Total assets	34,216,000	34,124,000	[1]
Current liabilities:
Accounts payable	1,042,000	1,236,000	[1]
Accrued liabilities	1,764,000	1,565,000	[1]
Total current liabilities	2,806,000	2,801,000	[1]
Commitments
Shareholders' equity:
Common stock, $.01 par value: 50,000,000 shares authorized; 14,187,749 and 14,290,749 shares outstanding as of March 31, 2018 and December 31, 2017, respectively	142,000	143,000	[1]
Additional paid-in capital	4,995,000	5,415,000	[1]
Accumulated other comprehensive loss		(458,000)	[1]
Retained earnings	26,273,000	26,223,000	[1]
Total shareholders' equity	31,410,000	31,323,000	[1]
Total liabilities and shareholders' equity	$ 34,216,000	$ 34,124,000	[1]
[1]	The condensed consolidated balance sheet as of December 31, 2017 has been prepared using information from the audited consolidated balance sheet as of that date.

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($)	Mar. 31, 2018	Dec. 31, 2017	[1]
Allowance for doubtful accounts	$ 83,000	$ 83,000
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	50,000,000	50,000,000
Common stock, shares outstanding (in shares)	14,187,749	14,290,749
[1]	The condensed consolidated balance sheet as of December 31, 2017 has been prepared using information from the audited consolidated balance sheet as of that date.

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Net sales	$ 11,442,000	$ 10,751,000
Cost of goods sold, excluding depreciation and amortization	6,987,000	6,457,000
Gross profit	4,455,000	4,294,000
Operating expenses:
Selling, general and administrative	3,881,000	3,474,000
Depreciation and amortization	146,000	154,000
Total operating expenses	4,027,000	3,628,000
Income from operations	428,000	666,000
Other income:
Equity in income of unconsolidated affiliate	139,000	105,000
Unrealized gain recognized in earings since January 1, 2018	32,000
Interest income, net	1,000	1,000
Total other income	172,000	106,000
Income before provision for income taxes	600,000	772,000
Provision for income taxes	92,000	222,000
Net income	$ 508,000	$ 550,000
Basic earnings per common share (in dollars per share)	$ 0.04	$ 0.04
Diluted earnings per common share (in dollars per share)	$ 0.04	$ 0.04
Basic weighted average common shares outstanding (in shares)	14,217,919	15,207,659
Diluted weighted average common shares outstanding (in shares)	14,383,005	15,301,801

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Net income	$ 508,000	$ 550,000
Other comprehensive income (loss):
Change in unrealized gain (loss) on marketable securities, net of tax		(77,000)
Comprehensive income	$ 508,000	$ 473,000

Condensed Consolidated Stateme6

Condensed Consolidated Statement of Shareholders' Equity (Unaudited) - 3 months ended Mar. 31, 2018 - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	AOCI Attributable to Parent [Member]	Retained Earnings [Member]	Total
Balance (in shares) at Dec. 31, 2017	14,290,749				14,290,749	[1]
Balance at Dec. 31, 2017	$ 143,000	$ 5,415,000	$ (458,000)	$ 26,223,000	$ 31,323,000	[2]
Common stock repurchased and retired (in shares)	(153,000)
Common stock repurchased and retired	$ (1,000)	(575,000)			(576,000)
Stock-based compensation expense		78,000			$ 78,000
Options exercised (in shares)	50,000				50,000
Options exercised		77,000			$ 77,000
Net income				508,000	$ 508,000
Cumulative-effect adjustment of change in accounting for unrealized loss on marketable securities			458,000	(458,000)
Balance (in shares) at Mar. 31, 2018	14,187,749				14,187,749
Balance at Mar. 31, 2018	$ 142,000	$ 4,995,000		$ 26,273,000	$ 31,410,000
[1]	The condensed consolidated balance sheet as of December 31, 2017 has been prepared using information from the audited consolidated balance sheet as of that date.
[2]	The condensed consolidated balance sheet as of December 31, 2017 has been prepared using information from the audited consolidated balance sheet as of that date.

Condensed Consolidated Stateme7

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2018		Mar. 31, 2017
Cash Flows From Operating Activities:
Net income	$ 508,000		$ 550,000
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Share-based compensation	78,000		81,000
Depreciation and amortization	146,000		154,000
Unrealized gain on marketable securities	(32,000)
Equity in income of unconsolidated affiliate	(139,000)		(105,000)
Changes in assets and liabilities:
Accounts receivable, net	(1,866,000)		(866,000)
Accounts receivable, related party	(20,000)		65,000
Inventories	(386,000)		315,000
Prepaid expenses	(790,000)		391,000
Accounts payable and accrued liabilities	5,000		(423,000)
Net cash provided by (used in) operating activities	(2,496,000)		162,000
Cash Flows From Investing Activities:
Purchase of property and equipment	(102,000)		(584,000)
Net cash used in investing activities	(102,000)		(584,000)
Cash Flows From Financing Activities:
Proceeds from exercise of stock options	77,000
Repurchase of common stock	(576,000)		(1,150,000)
Net cash used in financing activities	(499,000)		(1,150,000)
Decrease in cash	(3,097,000)		(1,572,000)
Cash, beginning of the period	8,763,000	[1]	9,456,000
Cash, end of the period	$ 5,666,000		$ 7,884,000
[1]	The condensed consolidated balance sheet as of December 31, 2017 has been prepared using information from the audited consolidated balance sheet as of that date.

Note 1 - The Company

Note 1 - The Company	3 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
Nature of Operations [Text Block]	1. The Company Alpha Pro Tech, Ltd. (“Alpha Pro Tech” or the “Company”) is in the business of protecting people, products and environments. The Company accomplishes this by developing, manufacturing and marketing a line of building supply products for the new home and re-roofing markets; a line of disposable protective apparel for the cleanroom, industrial and pharmaceutical markets; and a line of infection control products for the medical and dental markets. The Building Supply segment consists of construction weatherization products, such as housewrap and synthetic roof underlayment, as well as other woven material. The Disposable Protective Apparel segment consists of a complete line of shoecovers, bouffant caps, coveralls, gowns, frocks and lab coats. The Infection Control segment consists of a line of face masks and eye shields. The Company’s products are sold under the "Alpha Pro Tech" brand name and under private label, and are predominantly sold in the United States of America (“US”).

Note 2 - Basis of Presentation

Note 2 - Basis of Presentation and Revenue Recognition Policy	3 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
Basis of Presentation and Significant Accounting Policies [Text Block]	2. Basis of Presentation and Revenue Recognition Policy The interim financial information included herein is unaudited; however, the information reflects all adjustments (consisting of normal recurring adjustments) that are, in the opinion of management, necessary for the fair presentation of the consolidated financial position, results of operations and cash flows for the interim periods. These interim condensed consolidated financial statements have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”) and, therefore, omit certain information and note disclosures necessary to present the statements in accordance with US generally accepted accounting principles (“US GAAP”). The interim condensed consolidated financial statements should be read in conjunction with the Company’s current year SEC filings on Form 8 December 31, 2017, 10 “2017 10 March 12, 2018. three March 31, 2018 10 not December 31, 2017 2017 10 not The Company adopted Accounting Standards Update 2014 09, Revenue from Contracts with Customers 606 January 1, 2018 not not not The Company has determined that control does not See Notes 10 11

Note 3 - Stock-Based Compensati

Note 3 - Stock-Based Compensation	3 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	3. S tock - Based Compensation The Company maintains a stock option plan under which the Company may The Company records compensation expense for the fair value of stock-based awards determined as of the grant date, including employee stock options, over the determined requisite service period, which is generally ratably over the vesting term. For the three March 31, 2018 2017, 289,750, 0, $78,000 $81,000 three March 31, 2018 2017, The Company uses the Black-Scholes option-pricing model to value the options. The Company uses historical data to estimate the life of the options. The risk-free interest rate for periods within the contractual life of the award is based on the US Treasury yield curve in effect at the time of grant. The estimated volatility is based on historical volatility and management’s expectations of future volatility. The Company uses an estimated dividend payout of zero, as the Company has not not The following table summarizes stock option activity for the three March 31, 2018: Weighted Average Exercise Price Options Per Option Options outstanding, December 31, 2017 884,998 $ 2.26 Granted to employees and non-employee directors 289,750 3.20 Exercised (50,000 ) 1.53 Canceled/expired/forfeited - 0.00 Options outstanding, March 31, 2018 1,124,748 2.53 Options exercisable, March 31, 2018 313,334 2.02 As of March 31, 2018, $560,000 2.55

Note 4 - Investments

Note 4 - Investments	3 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]	4. Investments As of March 31, 2018 December 31, 2017, $375,000 $343,000 The following provides information regarding the Company’s marketable securities as of March 31, 2018 December 31, 2017: March 31, December 31, 2018 2017 Cost basis $ 543,000 $ 543,000 Gains previously recognized on warrants 380,000 380,000 Loss included in accumulated other comprehensive loss or reclassifed to retained earnings on Jaunuary 1, 2018 (580,000 ) (580,000 ) Unrealized gain recognized in earings since January 1, 2018 32,000 - Fair value $ 375,000 $ 343,000 No three March 31, 2018 December 31, 2017. $32,000 January 1, 2018 three March 31, 2018. $77,000 three March 31, 2018. $30,000 three March 31, 2017.

Note 5 - Recent Accounting Pron

Note 5 - Recent Accounting Pronouncements	3 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
New Accounting Pronouncements and Changes in Accounting Principles [Text Block]	5. Recent Accounting Pronouncements Accounting Standards Update (“ASU”) 2014 09, Revenue from Contracts with Customers 606 2014 09” 2014 09, may 2014 09 first December 15, 2017, not 2014 09 first 2018. not In January 2016, 2016 01, Financial Instruments Overall 825 10 Recognition and Measurement of Financial Assets and Financial Liabilities December 15, 2017. January 1, 2018, $458,000 January 1, 2018 In February 2016, 2016 02, Leases 842 December 15, 2018 not In March 2016, 2016 09, Compensation - Stock Compensation 718 Improvements to Employee Share-Based Payment Accounting December 15, 2016 March 31, 2017, one $866,000 no Management periodically reviews new accounting standards that are issued. Management has not

Note 6 - Inventories

Note 6 - Inventories	3 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
Inventory Disclosure [Text Block]	6. Inventories As of March 31, 2018 December 31, 2017, March 31, December 31, 2018 2017 Raw materials $ 4,620,000 $ 4,567,000 Work in process 1,239,000 1,058,000 Finished goods 4,776,000 4,624,000 $ 10,635,000 $ 10,249,000

Note 7 - Equity Investment in U

Note 7 - Equity Investment in Unconsolidated Affiliate	3 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
Equity Method Investments and Joint Ventures Disclosure [Text Block]	7 . Equity I nvestment in Unconsolidated Affiliate In 2005, 41.66% 58.34% This joint venture positions Alpha ProTech Engineered Products, Inc. to respond to current and expected increased product demand for housewrap and synthetic roof underlayment and provides future capacity for sales of specialty roofing component products and custom products for industrial applications requiring high quality extrusion coated fabrics. In addition, the joint venture now supplies products for the Disposable Protective Apparel segment. The capital from the initial funding and a bank loan, which loan is guaranteed exclusively by the individual shareholders of Maple Industries and associates and collateralized by the assets of Harmony, were utilized to purchase the original manufacturing facility in India. Harmony currently has four three one 1 113,000 2 73,000 3 16,000 4 93,000 no In accordance with Accounting Standards Codification (“ASC”) 810, Consolidation not 810 not not The Company records its investment in Harmony as “equity investment in unconsolidated affiliate” in the accompanying condensed consolidated balance sheets. The Company records its equity interest in Harmony’s results of operations as “equity in income of unconsolidated affiliate” in the accompanying condensed consolidated statements of income. The Company periodically reviews its investment in Harmony for impairment. Management has determined that no March 31, 2018 December 31, 2017. For the three March 31, 2018 2017, $3,974,000 $3,627,000 For the three March 31, 2018 2017, $139,000 $105,000, As of March 31, 2018, $4,032,000, $1,450,000 $3,601,000, $942,000 $77,000

Note 8 - Accrued Liabilities

Note 8 - Accrued Liabilities	3 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
Accounts Payable and Accrued Liabilities Disclosure [Text Block]	8 . Accrued Liabilities As of March 31, 2018 December 31, 2017, March 31, December 31, 2018 2017 Payroll expenses and tax payable $ 120,000 $ 232,000 Commission and bonuses payable and general accrued liabilities 1,644,000 1,333,000 $ 1,764,000 $ 1,565,000

Note 9 - Basic and Diluted Earn

Note 9 - Basic and Diluted Earnings Per Common Share	3 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
Earnings Per Share [Text Block]	9 . Basic and Diluted Earnings Per Common Share The following table provides a reconciliation of both net income and the number of shares used in the computation of “basic” earnings per common share (“EPS”), which utilizes the weighted average number of common shares outstanding without regard to dilutive shares, and “diluted” EPS, which includes all such dilutive shares, for the three March 31, 2018 2017. For the Three Months Ended March 31, 2018 2017 Net income (numerator) $ 508,000 $ 550,000 Shares (denominator): Basic weighted average common shares outstanding 14,217,919 15,207,659 Add: dilutive effect of common stock options 165,086 94,142 Diluted weighted average common shares outstanding 14,383,005 15,301,801 Earnings per common share: Basic $ 0.04 $ 0.04 Diluted $ 0.04 $ 0.04

Note 10 - Activity of Business

Note 10 - Activity of Business Segments	3 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	10 . Activity of Business Segments The Company operates through three Building Supply Disposable Protective Apparel Infection Control Segment data excludes charges allocated to the principal executive office and other unallocated expenses and income tax. The Company evaluates the performance of its segments and allocates resources to them based primarily on net sales. The following table presents consolidated net sales for each segment for the three March 31, 2018 2017: For the Three Months Ended March 31, 2018 2017 Building Supply $ 6,669,000 $ 5,939,000 Disposable Protective Apparel 3,232,000 3,295,000 Infection Control 1,541,000 1,517,000 Consolidated net sales $ 11,442,000 $ 10,751,000 The following table presents the reconciliation of consolidated segment income to consolidated net income for the three March 31, 2018 2017: For the Three Months Ended March 31, 2018 2017 Building Supply $ 994,000 $ 962,000 Disposable Protective Apparel 290,000 458,000 Infection Control 733,000 596,000 Total segment income 2,017,000 2,016,000 Unallocated corporate overhead expenses 1,417,000 1,244,000 Provision for income taxes 92,000 222,000 Consolidated net income $ 508,000 $ 550,000 The following table presents the consolidated net property and equipment, goodwill and definite-lived intangible assets (“consolidated assets”) by segment as of March 31, 2018 December 31, 2017: March 31, December 31, 2018 2017 Building Supply $ 2,050,000 $ 2,098,000 Disposable Protective Apparel 325,000 336,000 Infection Control 12,000 13,000 Total segment assets 2,387,000 2,447,000 Unallocated corporate assets 803,000 787,000 Total consolidated assets $ 3,190,000 $ 3,234,000

Note 11 - Financial Information

Note 11 - Financial Information about Geographic Areas	3 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
Financial Information about Geographic Areas [Text Block]	11. Financial Information about Geographic Areas The following table summarizes the Company’s net sales by geographic region for the Company’s the three March 31, 2018 2017. For the Three Months Ended March 31, 2018 2017 Net sales by geographic region United States $ 11,198,000 $ 10,599,000 International 244,000 152,000 Consolidated net sales $ 11,442,000 $ 10,751,000 Net sales by geographic region are based on the countries in which our customers are located. For the three March 31, 2018 December 31, 2017, not The following table summarizes the locations of the Company’s long-lived assets by geographic region as of March 31, 2018 December 31, 2017. March 31, December 31, 2018 2017 Long-lived assets by geographic region United States $ 2,644,000 $ 2,593,000 International 471,000 565,000 Consolidated total long-lived assets $ 3,115,000 $ 3,158,000

Note 12 - Related Party Transac

Note 12 - Related Party Transactions	3 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	1 2 . Related Party Transactions The Company previously used a law firm for certain legal matters whose majority member was a member of the Company’s Board of Directors until his resignation on March 31, 2017. three March 31, 2018 2017, $0 $40,000, March 31, 2018 2017, $0 $203,000,

Note 13 - Commitments and Conti

Note 13 - Commitments and Contingencies	3 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	1 3 . Commitments and Contingencies The Company has been involved in protracted litigation against a competitor in an action styled Alpha Pro Tech, Inc. v. VWR International, LLC, pending in the U.S. District Court for the Eastern District of Pennsylvania, CV 12 1615, August 2017, $2 November 2017, February 2018. April 2018. no

Note 14 - Subsequent Events

Note 14 - Subsequent Events	3 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
Subsequent Events [Text Block]	1 4 . Subsequent Events The Company has reviewed and evaluated whether subsequent events have occurred from the condensed consolidated balance sheet date of March 31, 2018 10 Effective April 22, 2018, January 1, 2018, w 2017 2018 December 31, 2020.

Note 3 - Stock-Based Compensa22

Note 3 - Stock-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2018
Notes Tables
Share-based Compensation, Stock Options, Activity [Table Text Block]	Weighted Average Exercise Price Options Per Option Options outstanding, December 31, 2017 884,998 $ 2.26 Granted to employees and non-employee directors 289,750 3.20 Exercised (50,000 ) 1.53 Canceled/expired/forfeited - 0.00 Options outstanding, March 31, 2018 1,124,748 2.53 Options exercisable, March 31, 2018 313,334 2.02

Note 4 - Investments (Tables)

Note 4 - Investments (Tables)	3 Months Ended
	Mar. 31, 2018
Notes Tables
Schedule of Available-for-sale Securities Reconciliation [Table Text Block]	March 31, December 31, 2018 2017 Cost basis $ 543,000 $ 543,000 Gains previously recognized on warrants 380,000 380,000 Loss included in accumulated other comprehensive loss or reclassifed to retained earnings on Jaunuary 1, 2018 (580,000 ) (580,000 ) Unrealized gain recognized in earings since January 1, 2018 32,000 - Fair value $ 375,000 $ 343,000

Note 6 - Inventories (Tables)

Note 6 - Inventories (Tables)	3 Months Ended
	Mar. 31, 2018
Notes Tables
Schedule of Inventory, Current [Table Text Block]	March 31, December 31, 2018 2017 Raw materials $ 4,620,000 $ 4,567,000 Work in process 1,239,000 1,058,000 Finished goods 4,776,000 4,624,000 $ 10,635,000 $ 10,249,000

Note 8 - Accrued Liabilities (T

Note 8 - Accrued Liabilities (Tables)	3 Months Ended
	Mar. 31, 2018
Notes Tables
Schedule of Accrued Liabilities [Table Text Block]	March 31, December 31, 2018 2017 Payroll expenses and tax payable $ 120,000 $ 232,000 Commission and bonuses payable and general accrued liabilities 1,644,000 1,333,000 $ 1,764,000 $ 1,565,000

Note 9 - Basic and Diluted Ea26

Note 9 - Basic and Diluted Earnings Per Common Share (Tables)	3 Months Ended
	Mar. 31, 2018
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	For the Three Months Ended March 31, 2018 2017 Net income (numerator) $ 508,000 $ 550,000 Shares (denominator): Basic weighted average common shares outstanding 14,217,919 15,207,659 Add: dilutive effect of common stock options 165,086 94,142 Diluted weighted average common shares outstanding 14,383,005 15,301,801 Earnings per common share: Basic $ 0.04 $ 0.04 Diluted $ 0.04 $ 0.04

Note 10 - Activity of Busines27

Note 10 - Activity of Business Segments (Tables)	3 Months Ended
	Mar. 31, 2018
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	For the Three Months Ended March 31, 2018 2017 Building Supply $ 6,669,000 $ 5,939,000 Disposable Protective Apparel 3,232,000 3,295,000 Infection Control 1,541,000 1,517,000 Consolidated net sales $ 11,442,000 $ 10,751,000
Reconciliation of Revenue from Segments to Consolidated [Table Text Block]	For the Three Months Ended March 31, 2018 2017 Building Supply $ 994,000 $ 962,000 Disposable Protective Apparel 290,000 458,000 Infection Control 733,000 596,000 Total segment income 2,017,000 2,016,000 Unallocated corporate overhead expenses 1,417,000 1,244,000 Provision for income taxes 92,000 222,000 Consolidated net income $ 508,000 $ 550,000
Reconciliation of Assets from Segment to Consolidated [Table Text Block]	March 31, December 31, 2018 2017 Building Supply $ 2,050,000 $ 2,098,000 Disposable Protective Apparel 325,000 336,000 Infection Control 12,000 13,000 Total segment assets 2,387,000 2,447,000 Unallocated corporate assets 803,000 787,000 Total consolidated assets $ 3,190,000 $ 3,234,000

Note 11 - Financial Informati28

Note 11 - Financial Information about Geographic Areas (Tables)	3 Months Ended
	Mar. 31, 2018
Notes Tables
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas [Table Text Block]	For the Three Months Ended March 31, 2018 2017 Net sales by geographic region United States $ 11,198,000 $ 10,599,000 International 244,000 152,000 Consolidated net sales $ 11,442,000 $ 10,751,000 March 31, December 31, 2018 2017 Long-lived assets by geographic region United States $ 2,644,000 $ 2,593,000 International 471,000 565,000 Consolidated total long-lived assets $ 3,115,000 $ 3,158,000

Note 3 - Stock-Based Compensa29

Note 3 - Stock-Based Compensation (Details Textual) - USD ($) xbrli-pure in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross	289,750	0
Allocated Share-based Compensation Expense, Total	$ 78,000	$ 81,000
Payments of Dividends, Total	$ 0
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate	0.00%
Employee Stock Option [Member]
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Total	$ 560,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	2 years 200 days

Note 3 - Stock-Based Compensa30

Note 3 - Stock-Based Compensation - Stock Option Activity (Details) - $ / shares	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Options outstanding (in shares)	884,998
Options outstanding (in dollars per share)	$ 2.26
Granted to employees and non-employee directors (in shares)	289,750	0
Granted to employees and non-employee directors (in dollars per share)	$ 3.20
Exercised (in shares)	(50,000)
Exercised (in dollars per share)	$ 1.53
Canceled/expired/forfeited (in shares)
Canceled/expired/forfeited (in dollars per share)	$ 0
Options outstanding (in shares)	1,124,748
Options outstanding (in dollars per share)	$ 2.53
Options exercisable (in shares)	313,334
Options exercisable (in dollars per share)	$ 2.02

Note 4 - Investments (Details T

Note 4 - Investments (Details Textual) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Available-for-sale Securities, Current, Total	$ 375,000		$ 343,000	[1]
Proceeds from Sale and Maturity of Marketable Securities, Total	0		$ 0
Available-for-sale Securities, Gross Unrealized Gain, Total	32,000
Other Comprehensive Income (Loss), Securities, Available-for-Sale, Unrealized Holding Gain (Loss) Arising During Period, after Tax		(77,000)
Other Comprehensive Income (Loss), Securities, Available-for-Sale, Unrealized Holding Gain (Loss) Arising During Period, Tax		$ 30,000
[1]	The condensed consolidated balance sheet as of December 31, 2017 has been prepared using information from the audited consolidated balance sheet as of that date.

Note 4 - Investments - Availabl

Note 4 - Investments - Available-for-sale Marketable Securities (Details) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017	[1]
Unrealized gain recognized in earings since January 1, 2018	$ 32,000
Available-for-sale Securities, Current, Total	375,000		$ 343,000
Marketable Securities [Member]
Cost basis	543,000	543,000
Gains previously recognized on warrants	380,000	380,000
Loss included in accumulated other comprehensive loss or reclassifed to retained earnings on Jaunuary 1, 2018	(580,000)	(580,000)
Unrealized gain recognized in earings since January 1, 2018	32,000
Available-for-sale Securities, Current, Total	$ 375,000	$ 343,000
[1]	The condensed consolidated balance sheet as of December 31, 2017 has been prepared using information from the audited consolidated balance sheet as of that date.

Note 5 - Recent Accounting Pr33

Note 5 - Recent Accounting Pronouncements (Details Textual) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
AOCI Attributable to Parent [Member]
Recognition and Measurement of Financial Instruments, Reclassification from AOCI to Retained Earnings, Tax Effect	$ 458,000
Retained Earnings [Member]
Recognition and Measurement of Financial Instruments, Reclassification from AOCI to Retained Earnings, Tax Effect	(458,000)
Accounting Standards Update 2016-01 [Member] | AOCI Attributable to Parent [Member]
Recognition and Measurement of Financial Instruments, Reclassification from AOCI to Retained Earnings, Tax Effect	458,000
Accounting Standards Update 2016-01 [Member] | Retained Earnings [Member]
Recognition and Measurement of Financial Instruments, Reclassification from AOCI to Retained Earnings, Tax Effect	$ (458,000)
Accounting Standards Update 2016-09 [Member] | Additional Paid-in Capital [Member]
Current Period Reclassification Adjustment		$ (866,000)

Note 6 - Inventories - Inventor

Note 6 - Inventories - Inventories (Details) - USD ($)	Mar. 31, 2018	Dec. 31, 2017
Raw materials	$ 4,620,000	$ 4,567,000
Work in process	1,239,000	1,058,000
Finished goods	4,776,000	4,624,000
	$ 10,635,000	$ 10,249,000	[1]
[1]	The condensed consolidated balance sheet as of December 31, 2017 has been prepared using information from the audited consolidated balance sheet as of that date.

Note 7 - Equity Investment in35

Note 7 - Equity Investment in Unconsolidated Affiliate (Details Textual)	3 Months Ended		12 Months Ended	147 Months Ended
	Mar. 31, 2018USD ($)ft²	Mar. 31, 2017USD ($)	Dec. 31, 2017USD ($)	Mar. 31, 2018USD ($)ft²	Dec. 31, 2005
Expense To Acquire Inventory	$ 3,974,000	$ 3,627,000
Income (Loss) from Equity Method Investments, Total	$ 139,000	$ 105,000
INDIA | Harmony [Member]
Number of Stores	4			4
Number Of Stores Owned	3			3
Number Of Stores Rented	1			1
INDIA | Harmony [Member] | Manufacturing Building Products [Member]
Area of Real Estate Property | ft²	113,000			113,000
INDIA | Harmony [Member] | Manufacturing Coated Material and Sewing Proprietary Disposable Protective Apparel [Member]
Area of Real Estate Property | ft²	73,000			73,000
INDIA | Harmony [Member] | Sewing Proprietary Disposable Protective Apparel [Member]
Area of Real Estate Property | ft²	16,000			16,000
INDIA | Harmony [Member] | Manufacturing Of Building Products [Member]
Area of Real Estate Property | ft²	93,000			93,000
Harmony [Member]
Equity Method Investment, Other than Temporary Impairment	$ 0		$ 0
Equity Method Investments	4,032,000			$ 4,032,000
Equity Method Investment, Aggregate Cost	1,450,000			1,450,000
Cumulative Equity In Income Of Unconsolidated Affiliate	$ 3,601,000			3,601,000
Proceeds from Equity Method Investment, Distribution, Return of Capital				942,000
Proceeds from Equity Method Investment, Distribution				$ 77,000
Harmony [Member] | Alpha Pro Tech Engineered Products [Member]
Equity Method Investment, Ownership Percentage					41.66%
Harmony [Member] | Maple Industries and Associates [Member]
Equity Method Investment, Ownership Percentage					58.34%

Note 8 - Accrued Liabilities -

Note 8 - Accrued Liabilities - Accrued Liabilities (Details) - USD ($)	Mar. 31, 2018	Dec. 31, 2017
Payroll expenses and tax payable	$ 120,000	$ 232,000
Commission and bonuses payable and general accrued liabilities	1,644,000	1,333,000
	$ 1,764,000	$ 1,565,000	[1]
[1]	The condensed consolidated balance sheet as of December 31, 2017 has been prepared using information from the audited consolidated balance sheet as of that date.

Note 9 - Basic and Diluted Ea37

Note 9 - Basic and Diluted Earnings Per Common Share - Reconciliation of Net Income and Number of Shares Used in Computations of Basic and Diluted EPS (Details) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Net income	$ 508,000	$ 550,000
Shares (denominator):
Basic weighted average common shares outstanding (in shares)	14,217,919	15,207,659
Add: dilutive effect of common stock options (in shares)	165,086	94,142
Diluted weighted average common shares outstanding (in shares)	14,383,005	15,301,801
Earnings per common share:
Basic (in dollars per share)	$ 0.04	$ 0.04
Diluted (in dollars per share)	$ 0.04	$ 0.04

Note 10 - Activity of Busines38

Note 10 - Activity of Business Segments (Details Textual)	3 Months Ended
	Mar. 31, 2018
Number of Operating Segments	3

Note 10 - Activity of Busines39

Note 10 - Activity of Business Segments - Consolidated Net Sales (Details) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Net sales	$ 11,442,000	$ 10,751,000
Building Supply [Member] | Operating Segments [Member]
Net sales	6,669,000	5,939,000
Disposable Protective Apparel [Member] | Operating Segments [Member]
Net sales	3,232,000	3,295,000
Infection Control [Member] | Operating Segments [Member]
Net sales	$ 1,541,000	$ 1,517,000

Note 10 - Activity of Busines40

Note 10 - Activity of Business Segments - Reconciliation of Total Segment Income to Total Consolidated Net Income (Details) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Consolidated net income	$ 508,000	$ 550,000
Provision for income taxes	92,000	222,000
Operating Segments [Member]
Consolidated net income	2,017,000	2,016,000
Operating Segments [Member] | Building Supply [Member]
Consolidated net income	994,000	962,000
Operating Segments [Member] | Disposable Protective Apparel [Member]
Consolidated net income	290,000	458,000
Operating Segments [Member] | Infection Control [Member]
Consolidated net income	733,000	596,000
Corporate, Non-Segment [Member]
Consolidated net income	$ 1,417,000	$ 1,244,000

Note 10 - Activity of Busines41

Note 10 - Activity of Business Segments - Consolidated Net Property and Equipment, Goodwill and Intangible Assets (Details) - USD ($)	Mar. 31, 2018	Dec. 31, 2017
Consolidated assets	$ 3,190,000	$ 3,234,000
Operating Segments [Member]
Consolidated assets	2,387,000	2,447,000
Operating Segments [Member] | Building Supply [Member]
Consolidated assets	2,050,000	2,098,000
Operating Segments [Member] | Disposable Protective Apparel [Member]
Consolidated assets	325,000	336,000
Operating Segments [Member] | Infection Control [Member]
Consolidated assets	12,000	13,000
Corporate, Non-Segment [Member]
Consolidated assets	$ 803,000	$ 787,000

Note 11 - Financial Informati42

Note 11 - Financial Information about Geographic Areas - Consolidated Net Sales and Long-lived Asset Information by Geographic Area (Details) - Reportable Geographical Components [Member] - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Net sales by geographic region
Consolidated sales	$ 11,442,000	$ 10,751,000
Long-lived assets by geographic region
Consolidated long-lived assets	3,115,000		$ 3,158,000
UNITED STATES
Net sales by geographic region
Consolidated sales	11,198,000	10,599,000
Long-lived assets by geographic region
Consolidated long-lived assets	2,644,000		2,593,000
International Member
Net sales by geographic region
Consolidated sales	244,000	$ 152,000
Long-lived assets by geographic region
Consolidated long-lived assets	$ 471,000		$ 565,000

Note 12 - Related Party Trans43

Note 12 - Related Party Transactions (Details Textual) - Director [Member] - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Legal Services, Related Party [Member]
Related Party Transaction, Expenses from Transactions with Related Party	$ 0	$ 40,000
Related Law Firm [Member]
Due to Related Parties, Total	$ 0		$ 203,000

Note 13 - Commitments and Con44

Note 13 - Commitments and Contingencies (Details Textual) $ in Millions	1 Months Ended
	Aug. 31, 2017USD ($)
Pending Litigation [Member] | Alpha Pro Tech, Inc. v. VWR International, LLC [Member]
Loss Contingency, Damages Sought, Value	$ 2