Alpha Pro Tech (APT) 10-Q 5 Nov 21 2021 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2021	Nov. 01, 2021
Document Information [Line Items]
Entity Central Index Key	0000884269
Entity Registrant Name	ALPHA PRO TECH LTD
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2021
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2021
Document Transition Report	false
Entity File Number	01-15725
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	63-1009183
Entity Address, Address Line One	60 Centurian Drive, Suite 112
Entity Address, City or Town	Markham
Entity Address, State or Province	ON
Entity Address, Country	CA
Entity Address, Postal Zip Code	L3R 9R2
City Area Code	905
Local Phone Number	479-0654
Title of 12(b) Security	Common Stock, $0.01 par value
Trading Symbol	APT
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		13,232,391

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)	Sep. 30, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 17,636,000	$ 23,292,000	[1]
Accounts receivable, net of allowance for doubtful accounts of $64,000 as of September 30, 2021 and $71,000 as of December 31, 2020	3,991,000	8,132,000	[1]
Accounts receivable, related party	1,396,000	905,000	[1]
Inventories, net	23,190,000	16,749,000	[1]
Prepaid expenses	6,562,000	6,225,000	[1]
Total current assets	52,775,000	55,303,000	[1]
Property and equipment, net	6,136,000	4,353,000	[1]
Goodwill	55,000	55,000	[1]
Definite-lived intangible assets, net	4,000	7,000	[1]
Right-of-use assets	2,872,000	3,535,000	[1]
Equity investment in unconsolidated affiliate	6,172,000	5,549,000	[1]
Total assets	68,014,000	68,802,000	[1]
Current liabilities:
Accounts payable	1,029,000	1,983,000	[1]
Accrued liabilities	1,120,000	2,793,000	[1]
Customer advance payments of orders	0	209,000	[1]
Lease liabilities	880,000	867,000	[1]
Total current liabilities	3,029,000	5,852,000	[1]
Lease liabilities, net of current portion	2,046,000	2,719,000	[1]
Deferred income tax liabilities, net	211,000	211,000	[1]
Total liabilities	5,286,000	8,782,000	[1]
Commitments
Shareholders' equity:
Common stock, $.01 par value: 50,000,000 shares authorized; 13,162,341 and 13,419,847 shares outstanding as of September 30, 2021 and December 31, 2020, respectively	132,000	135,000	[1]
Additional paid-in capital	0	409,000	[1]
Retained earnings	62,596,000	59,476,000	[1]
Total shareholders' equity	62,728,000	60,020,000	[1]
Total liabilities and shareholders' equity	$ 68,014,000	$ 68,802,000	[1]
[1]	The condensed consolidated balance sheet as of December 31, 2020 has been prepared using information from the audited consolidated balance sheet as of that date.

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($)	Sep. 30, 2021	Dec. 31, 2020	[1]
Allowance for doubtful accounts	$ 64,000	$ 71,000
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)	13,162,341	13,419,847
[1]	The condensed consolidated balance sheet as of December 31, 2020 has been prepared using information from the audited consolidated balance sheet as of that date.

Condensed Consolidated Statemen

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Net sales	$ 14,475,000	$ 30,027,000	$ 55,442,000	$ 73,681,000
Cost of goods sold, excluding depreciation and amortization	9,533,000	14,891,000	35,089,000	37,378,000
Gross profit	4,942,000	15,136,000	20,353,000	36,303,000
Operating expenses:
Selling, general and administrative	3,884,000	4,580,000	12,661,000	13,236,000
Depreciation and amortization	209,000	186,000	611,000	546,000
Total operating expenses	4,093,000	4,766,000	13,272,000	13,782,000
Income from operations	849,000	10,370,000	7,081,000	22,521,000
Other income:
Equity in income of unconsolidated affiliate	112,000	250,000	623,000	456,000
Gain /(Loss) on marketable securities	0	(24,000)	0	(42,000)
Interest income, net	1,000	1,000	2,000	17,000
Total other income	113,000	227,000	625,000	431,000
Income before provision for income taxes	962,000	10,597,000	7,706,000	22,952,000
Provision for income taxes	196,000	2,490,000	1,550,000	3,284,000
Net income	$ 766,000	$ 8,107,000	$ 6,156,000	$ 19,668,000
Basic (in dollars per share)	$ 0.06	$ 0.60	$ 0.46	$ 1.46
Diluted (in dollars per share)	$ 0.06	$ 0.58	$ 0.45	$ 1.41
Basic weighted average common shares outstanding (in shares)	13,177,520	13,588,554	13,255,125	13,431,210
Diluted weighted average common shares outstanding (in shares)	13,419,485	14,033,027	13,555,925	13,977,564

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Shareholders' Equity (Unaudited) - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Balance (in shares) at Dec. 31, 2019	12,885,273
Balance at Dec. 31, 2019	$ 129,000	$ 708,000	$ 32,390,000	$ 33,227,000
Net income			5,342,000	5,342,000
Common stock repurchased and retired (in shares)	(35,100)
Common stock repurchased and retired		(125,000)		(125,000)
Stock-based compensation expense		91,000		91,000
Options exercised (in shares)	712,839
Options exercised	$ 7,000	1,834,000		1,841,000
Balance as of March 31, 2021 (in shares) at Mar. 31, 2020	13,563,012
Balance at Mar. 31, 2020	$ 136,000	2,508,000	37,732,000	40,376,000
Balance (in shares) at Dec. 31, 2019	12,885,273
Balance at Dec. 31, 2019	$ 129,000	708,000	32,390,000	33,227,000
Net income				19,668,000
Balance as of March 31, 2021 (in shares) at Sep. 30, 2020	13,577,847
Balance at Sep. 30, 2020	$ 136,000	2,539,000	52,058,000	54,733,000
Balance (in shares) at Mar. 31, 2020	13,563,012
Balance at Mar. 31, 2020	$ 136,000	2,508,000	37,732,000	40,376,000
Net income			6,220,000	6,220,000
Stock-based compensation expense		92,000		92,000
Options exercised (in shares)	24,835
Options exercised		94,000		94,000
Balance as of March 31, 2021 (in shares) at Jun. 30, 2020	13,587,847
Balance at Jun. 30, 2020	$ 136,000	2,694,000	43,951,000	46,781,000
Net income			8,107,000	8,107,000
Common stock repurchased and retired (in shares)	(20,000)
Common stock repurchased and retired		(281,000)		(281,000)
Stock-based compensation expense		91,000		91,000
Options exercised (in shares)	10,000
Options exercised		35,000		35,000
Balance as of March 31, 2021 (in shares) at Sep. 30, 2020	13,577,847
Balance at Sep. 30, 2020	$ 136,000	2,539,000	52,058,000	$ 54,733,000
Balance (in shares) at Dec. 31, 2020	13,419,847			13,419,847	[1]
Balance at Dec. 31, 2020	$ 135,000	409,000	59,476,000	$ 60,020,000	[1]
Net income			3,719,000	3,719,000
Common stock repurchased and retired (in shares)	(186,000)
Common stock repurchased and retired	$ (2,000)	(817,000)	(1,547,000)	(2,366,000)
Stock-based compensation expense		101,000		101,000
Options exercised (in shares)	89,494
Options exercised	$ 1,000	307,000		308,000
Balance as of March 31, 2021 (in shares) at Mar. 31, 2021	13,323,341
Balance at Mar. 31, 2021	$ 134,000		61,648,000	$ 61,782,000
Balance (in shares) at Dec. 31, 2020	13,419,847			13,419,847	[1]
Balance at Dec. 31, 2020	$ 135,000	409,000	59,476,000	$ 60,020,000	[1]
Net income				$ 6,156,000
Options exercised (in shares)				124,494
Balance as of March 31, 2021 (in shares) at Sep. 30, 2021	13,162,341			13,162,341
Balance at Sep. 30, 2021	$ 132,000		62,596,000	$ 62,728,000
Balance (in shares) at Mar. 31, 2021	13,323,341
Balance at Mar. 31, 2021	$ 134,000		61,648,000	61,782,000
Net income			1,671,000	1,671,000
Common stock repurchased and retired (in shares)	(150,000)
Common stock repurchased and retired	$ (2,000)	(151,000)	(1,189,000)	(1,342,000)
Stock-based compensation expense		68,000		68,000
Options exercised (in shares)	35,000
Options exercised		83,000		83,000
Balance as of March 31, 2021 (in shares) at Jun. 30, 2021	13,208,341
Balance at Jun. 30, 2021	$ 132,000		62,130,000	62,262,000
Net income			766,000	766,000
Common stock repurchased and retired (in shares)	(46,000)
Common stock repurchased and retired		(69,000)	(300,000)	(369,000)
Stock-based compensation expense		$ 69,000		$ 69,000
Balance as of March 31, 2021 (in shares) at Sep. 30, 2021	13,162,341			13,162,341
Balance at Sep. 30, 2021	$ 132,000		$ 62,596,000	$ 62,728,000
[1]	The condensed consolidated balance sheet as of December 31, 2020 has been prepared using information from the audited consolidated balance sheet as of that date.

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Cash Flows From Operating Activities:
Net income	$ 766,000	$ 8,107,000	$ 6,156,000	$ 19,668,000
Adjustments to reconcile net income to net cash provided by operating activities:
Stock-based compensation			238,000	274,000
Depreciation and amortization	209,000	186,000	611,000	546,000
Loss on marketable equity securities	0	24,000	0	42,000
Equity in income of unconsolidated affiliate	(112,000)	(250,000)	(623,000)	(456,000)
Operating lease expense, net of accretion			663,000	677,000
Changes in operating assets and liabilities:
Accounts receivable, net			4,141,000	(5,569,000)
Accounts receivable, related party			(491,000)	(109,000)
Inventories			(6,441,000)	(1,852,000)
Prepaid expenses			(337,000)	(1,272,000)
Accounts payable and accrued liabilities			(2,627,000)	2,540,000
Customer advance payments of orders			(209,000)	3,218,000
Lease liabilities			(660,000)	(669,000)
Net cash provided by operating activities			421,000	17,038,000
Cash Flows From Investing Activities:
Purchases of property and equipment			(2,391,000)	(687,000)
Proceeds from sales of marketable securities			0	120,000
Net cash used in investing activities			(2,391,000)	(567,000)
Cash Flows From Financing Activities:
Proceeds from exercise of stock options			391,000	1,970,000
Repurchase of common stock			(4,077,000)	(406,000)
Net cash provided by (used in) financing activities			(3,686,000)	1,564,000
Increase (decrease) in cash			(5,656,000)	18,035,000
Cash, beginning of the period			23,292,000	6,548,000
Cash, end of the period	$ 17,636,000	$ 24,583,000	$ 17,636,000	$ 24,583,000

Note 1 - The Company

Note 1 - The Company	9 Months Ended
	Sep. 30, 2021
Notes to Financial Statements
Nature of Operations [Text Block]	1. The Company Alpha Pro Tech, Ltd. (“Alpha Pro Tech,” the “Company,” “we”, “us” or “our”) 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 and a line of disposable protective apparel for the cleanroom, industrial, pharmaceutical, 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 disposable protective clothing (shoecovers, bouffant caps, coveralls, gowns, frocks and lab coats), face masks and face shields. All of our disposable protective apparel products, including face masks and face shields, are sold through similar distribution channels, are single-use and disposable, have the purpose of protecting people, products and environments, and have to be produced in Food and Drug Administration (“FDA”) approved facilities, regardless of the market served. The Company’s products are sold under the "Alpha Pro Tech" brand name as well as under private label, and are predominantly sold in the United States of America (“US”). The ongoing novel coronavirus (COVID- 19 2021 2020, 19 19

Note 2 - Basis of Presentation

Note 2 - Basis of Presentation and Revenue Recognition Policy	9 Months Ended
	Sep. 30, 2021
Notes to Financial Statements
Significant Accounting Policies [Text Block]	2. Basis of Presentation and Revenue Recognition Policy The interim financial information included in this report 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 reflected herein. 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 that would be necessary to present the statements in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”). The interim condensed consolidated financial statements should be read in conjunction with the Company’s current year SEC filings, as well as the Company’s consolidated financial statements for the year ended December 31, 2020, 10 December 31, 2020 ( “2020 10 March 10, 2021. three nine September 30, 2021 10 not December 31, 2020 2020 10 not Net sales includes revenue from products and shipping and handling charges, net of estimates for product returns and any related sales incentives. Our customer contracts have a single performance obligation: transfer control of products to customers. Revenue is measured as the amount of consideration that we expect to receive in exchange for transferring control of products. All revenue is recognized when we satisfy our performance obligations under the applicable contract. We recognize revenue in connection with transferring control of the promised products to the customer, with revenue being recognized at the point in time when the customer obtains control of the products, which is generally when title passes to the customer upon delivery to a third not third not September 30, 2021 no 10 11

Note 3 - Stock-based Compensati

Note 3 - Stock-based Compensation	9 Months Ended
	Sep. 30, 2021
Notes to Financial Statements
Share-based Payment Arrangement [Text Block]	3. Stock-Based Compensation The Company previously granted stock options to employees and non-employee directors under a stock option plan (the “2004 At the Company’s 2020 June 9, 2020, 2020 “2020 2020 2020 2004 2004 2020 no 2004 no may 2004 2004 2004 September 30, 2021, 2020 The Company records compensation expense for the fair value of stock-based awards determined as of the grant date, including employee stock options and restricted stock awards over the determined requisite service period, which is generally ratably over the vesting term. For the nine September 30, 2021 2020, no 2004 2020 nine September 30, 2021 2020, 2004 nine September 30, 2021 2020 15,140 0 2020 nine September 30, 2021 2020, The Company uses the Black-Scholes option-pricing model to value the options. The Company uses historical data to estimate the expected life of the options. The risk-free interest rate for periods within the contractual life of an 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 nine September 30, 2021: Weighted Average Exercise Price Options Per Option Options outstanding, December 31, 2020 568,740 $ 3.42 Granted to employees and non-employee directors - - Exercised (124,494 ) 3.15 Canceled/expired/forfeited (6,666 ) 3.62 Options outstanding, September 30, 2021 437,580 3.51 Options exercisable, September 30, 2021 330,583 3.48 As of September 30, 2021,

Note 4 - Investments

Note 4 - Investments	9 Months Ended
	Sep. 30, 2021
Notes to Financial Statements
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]	4. Investments As of September 30, 2021, no three nine September 30, 2021. Certain marketable securities were sold during the three September 30, 2020, three September 30, 2020 nine September 30, 2020. nine September 30, 2020

Note 5 - Recent Accounting Pron

Note 5 - Recent Accounting Pronouncements	9 Months Ended
	Sep. 30, 2021
Notes to Financial Statements
Accounting Standards Update and Change in Accounting Principle [Text Block]	5. Recent Accounting Pronouncements In June 2016, 2016 13 326 2016 13 2016 13 December 15, 2019. January 1, 2020. not In December 2019, No. 2019 12, 740 2019 12 740 December 15, 2020, not Management periodically reviews new accounting standards that are issued. Management has not

Note 6 - Inventories

Note 6 - Inventories	9 Months Ended
	Sep. 30, 2021
Notes to Financial Statements
Inventory Disclosure [Text Block]	6. Inventories As of September 30, 2021 December 31, 2020, September 30, December 31, 2021 2020 Raw materials $ 12,583,000 $ 9,729,000 Work in process 2,574,000 2,003,000 Finished goods 8,033,000 5,017,000 $ 23,190,000 $ 16,749,000

Note 7 - Equity Investment in U

Note 7 - Equity Investment in Unconsolidated Affiliate	9 Months Ended
	Sep. 30, 2021
Notes to Financial Statements
Equity Method Investments and Joint Ventures Disclosure [Text Block]	7. Equity Investment in Unconsolidated Affiliate In 2005, 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 2 3 4 no In accordance with ASC 810, 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 comprehensive income. The Company periodically reviews its investment in Harmony for impairment. Management has determined that no September 30, 2021 December 31, 2020. For the three September 30, 2021 2020, nine September 30, 2021 2020, three September 30, 2021 2020, nine September 30, 2021 2020, For the three September 30, 2021 2020, nine September 30, 2021 2020, As of September 30, 2021,

Note 8 - Accrued Liabilities

Note 8 - Accrued Liabilities	9 Months Ended
	Sep. 30, 2021
Notes to Financial Statements
Accounts Payable and Accrued Liabilities Disclosure [Text Block]	8. Accrued Liabiliti e As of September 30, 2021 December 31, 2020, September 30, December 31, 2021 2020 Payroll expenses and taxes payable $ 336,000 $ 123,000 Commissions and bonuses payable and general accrued liabilities 784,000 2,670,000 Total accrued liabilities $ 1,120,000 $ 2,793,000

Note 9 - Basic and Diluted Earn

Note 9 - Basic and Diluted Earnings Per Common Share	9 Months Ended
	Sep. 30, 2021
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 nine September 30, 2021 2020: For the Three Months Ended For the Nine Months Ended Septermber 30, Septermber 30, 2021 2020 2021 2020 Net income (numerator) $ 766,000 $ 8,107,000 $ 6,156,000 $ 19,668,000 Shares (denominator): Basic weighted average common shares outstanding 13,177,520 13,588,554 13,255,125 13,431,210 Add: dilutive effect of common stock options 241,965 444,473 300,800 546,354 Diluted weighted average common shares outstanding 13,419,485 14,033,027 13,555,925 13,977,564 Earnings per common share: Basic $ 0.06 $ 0.60 $ 0.46 $ 1.46 Diluted $ 0.06 $ 0.58 $ 0.45 $ 1.41

Note 10 - Activity of Business

Note 10 - Activity of Business Segments	9 Months Ended
	Sep. 30, 2021
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	10. Activity of Business Segments The Company operates through two ( 1 ( 2 Segment data excludes charges allocated to the principal executive office and other unallocated corporate overhead 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 nine September 30, 2021 2020: For the Three Months Ended For the Nine Months Ended September 30, September 30, 2021 2020 2021 2020 Building Supply $ 10,072,000 $ 7,668,000 $ 28,210,000 $ 22,677,000 Disposable Protective Apparel 4,403,000 22,359,000 27,232,000 51,004,000 Consolidated net sales $ 14,475,000 $ 30,027,000 $ 55,442,000 $ 73,681,000 The following table presents the reconciliation of consolidated segment income to consolidated net income for the three nine September 30, 2021 2020: For the Three Months Ended For the Nine Months Ended September 30, September 30, 2021 2020 2021 2020 Building Supply $ 1,901,000 $ 1,307,000 $ 5,629,000 $ 4,023,000 Disposable Protective Apparel 234,000 10,880,000 6,351,000 23,733,000 Total segment income 2,135,000 12,187,000 11,980,000 27,756,000 Unallocated corporate overhead expenses 1,173,000 1,590,000 4,274,000 4,804,000 Provision for income taxes 196,000 2,490,000 1,550,000 3,284,000 Consolidated net income $ 766,000 $ 8,107,000 $ 6,156,000 $ 19,668,000 The following table presents the consolidated net property and equipment, goodwill and definite-lived intangible assets (“consolidated assets”) by segment as of September 30, 2021 December 31, 2020: September 30, December 31, 2021 2020 Building Supply $ 3,649,000 $ 1,806,000 Disposable Protective Apparel 1,429,000 1,432,000 Total segment assets 5,078,000 3,238,000 Unallocated corporate assets 1,117,000 1,177,000 Total consolidated assets $ 6,195,000 $ 4,415,000

Note 11 - Financial Information

Note 11 - Financial Information about Geographic Areas	9 Months Ended
	Sep. 30, 2021
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 three nine September 30, 2021 2020: For the Three Months Ended For the Nine Months Ended September 30, September 30, 2021 2020 2021 2020 Net sales by geographic region United States $ 14,244,000 $ 24,295,000 $ 52,836,000 $ 62,461,000 International 231,000 5,732,000 2,606,000 11,220,000 Consolidated net sales $ 14,475,000 $ 30,027,000 $ 55,442,000 $ 73,681,000 Net sales by geographic region are based on the countries in which our customers are located. For the three nine September 30, 2021 2020, not The following table summarizes the locations of the Company’s long-lived assets by geographic region as of September 30, 2021 December 31, 2020: September 30, December 31, 2021 2020 Long-lived assets by geographic region United States $ 4,668,000 $ 2,787,000 International 1,468,000 1,566,000 Consolidated total long-lived assets $ 6,136,000 $ 4,353,000

Note 12 - Related Party Transac

Note 12 - Related Party Transactions	9 Months Ended
	Sep. 30, 2021
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	12. Related Party Transactions As of September 30, 2021, no 7

Note 13 - Leases

Note 13 - Leases	9 Months Ended
	Sep. 30, 2021
Notes to Financial Statements
Lessee, Operating Leases [Text Block]	13. Leases The Company has operating leases for the Company’s corporate office and manufacturing facilities, which expire at various dates through 2025. September 30, 2021 As of September 30, 2021, September 30, 2021, not three nine September 30, 2021. The aggregate future minimum lease payments and reconciliation to lease liabilities as of September 30, 2021 September 30, 2021 Remaining three months of 2021 $ 263,000 2022 1,010,000 2023 1,017,000 2024 484,000 2025 365,000 Total future minimum lease payments 3,139,000 Less imputed interest (213,000 ) Total Lease liabilities $ 2,926,000 As of September 30, 2021, nine September 30, 2021,

Note 14 - Income Taxes

Note 14 - Income Taxes	9 Months Ended
	Sep. 30, 2021
Notes to Financial Statements
Income Tax Disclosure [Text Block]	14. Income taxes The Company accounts for income taxes using the asset and liability method. A valuation allowance is recorded to reduce the carrying amounts of deferred income tax assets unless it is more likely than not not not Alpha Pro Tech, Ltd. and its subsidiaries file income tax returns in the U.S. federal jurisdiction, and in various state and foreign jurisdictions. An employer generally does not not not On March 27, 2020, 19

Note 15 - Subsequent Events

Note 15 - Subsequent Events	9 Months Ended
	Sep. 30, 2021
Notes to Financial Statements
Subsequent Events [Text Block]	15. Subsequent Events The Company has reviewed and evaluated whether subsequent events have occurred from the condensed consolidated balance sheet date of September 30, 2021 10 no

Note 3 - Stock-based Compensa_2

Note 3 - Stock-based Compensation (Tables)	9 Months Ended
	Sep. 30, 2021
Notes Tables
Share-based Payment Arrangement, Option, Activity [Table Text Block]	Weighted Average Exercise Price Options Per Option Options outstanding, December 31, 2020 568,740 $ 3.42 Granted to employees and non-employee directors - - Exercised (124,494 ) 3.15 Canceled/expired/forfeited (6,666 ) 3.62 Options outstanding, September 30, 2021 437,580 3.51 Options exercisable, September 30, 2021 330,583 3.48

Note 6 - Inventories (Tables)

Note 6 - Inventories (Tables)	9 Months Ended
	Sep. 30, 2021
Notes Tables
Schedule of Inventory, Current [Table Text Block]	September 30, December 31, 2021 2020 Raw materials $ 12,583,000 $ 9,729,000 Work in process 2,574,000 2,003,000 Finished goods 8,033,000 5,017,000 $ 23,190,000 $ 16,749,000

Note 8 - Accrued Liabilities (T

Note 8 - Accrued Liabilities (Tables)	9 Months Ended
	Sep. 30, 2021
Notes Tables
Schedule of Accrued Liabilities [Table Text Block]	September 30, December 31, 2021 2020 Payroll expenses and taxes payable $ 336,000 $ 123,000 Commissions and bonuses payable and general accrued liabilities 784,000 2,670,000 Total accrued liabilities $ 1,120,000 $ 2,793,000

Note 9 - Basic and Diluted Ea_2

Note 9 - Basic and Diluted Earnings Per Common Share (Tables)	9 Months Ended
	Sep. 30, 2021
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	For the Three Months Ended For the Nine Months Ended Septermber 30, Septermber 30, 2021 2020 2021 2020 Net income (numerator) $ 766,000 $ 8,107,000 $ 6,156,000 $ 19,668,000 Shares (denominator): Basic weighted average common shares outstanding 13,177,520 13,588,554 13,255,125 13,431,210 Add: dilutive effect of common stock options 241,965 444,473 300,800 546,354 Diluted weighted average common shares outstanding 13,419,485 14,033,027 13,555,925 13,977,564 Earnings per common share: Basic $ 0.06 $ 0.60 $ 0.46 $ 1.46 Diluted $ 0.06 $ 0.58 $ 0.45 $ 1.41

Note 10 - Activity of Busines_2

Note 10 - Activity of Business Segments (Tables)	9 Months Ended
	Sep. 30, 2021
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	For the Three Months Ended For the Nine Months Ended September 30, September 30, 2021 2020 2021 2020 Building Supply $ 10,072,000 $ 7,668,000 $ 28,210,000 $ 22,677,000 Disposable Protective Apparel 4,403,000 22,359,000 27,232,000 51,004,000 Consolidated net sales $ 14,475,000 $ 30,027,000 $ 55,442,000 $ 73,681,000
Reconciliation of Revenue from Segments to Consolidated [Table Text Block]	For the Three Months Ended For the Nine Months Ended September 30, September 30, 2021 2020 2021 2020 Building Supply $ 1,901,000 $ 1,307,000 $ 5,629,000 $ 4,023,000 Disposable Protective Apparel 234,000 10,880,000 6,351,000 23,733,000 Total segment income 2,135,000 12,187,000 11,980,000 27,756,000 Unallocated corporate overhead expenses 1,173,000 1,590,000 4,274,000 4,804,000 Provision for income taxes 196,000 2,490,000 1,550,000 3,284,000 Consolidated net income $ 766,000 $ 8,107,000 $ 6,156,000 $ 19,668,000
Reconciliation of Assets from Segment to Consolidated [Table Text Block]	September 30, December 31, 2021 2020 Building Supply $ 3,649,000 $ 1,806,000 Disposable Protective Apparel 1,429,000 1,432,000 Total segment assets 5,078,000 3,238,000 Unallocated corporate assets 1,117,000 1,177,000 Total consolidated assets $ 6,195,000 $ 4,415,000

Note 11 - Financial Informati_2

Note 11 - Financial Information about Geographic Areas (Tables)	9 Months Ended
	Sep. 30, 2021
Notes Tables
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas [Table Text Block]	For the Three Months Ended For the Nine Months Ended September 30, September 30, 2021 2020 2021 2020 Net sales by geographic region United States $ 14,244,000 $ 24,295,000 $ 52,836,000 $ 62,461,000 International 231,000 5,732,000 2,606,000 11,220,000 Consolidated net sales $ 14,475,000 $ 30,027,000 $ 55,442,000 $ 73,681,000 September 30, December 31, 2021 2020 Long-lived assets by geographic region United States $ 4,668,000 $ 2,787,000 International 1,468,000 1,566,000 Consolidated total long-lived assets $ 6,136,000 $ 4,353,000

Note 13 - Leases (Tables)

Note 13 - Leases (Tables)	9 Months Ended
	Sep. 30, 2021
Notes Tables
Lessee, Operating Lease, Liability, Maturity [Table Text Block]	September 30, 2021 Remaining three months of 2021 $ 263,000 2022 1,010,000 2023 1,017,000 2024 484,000 2025 365,000 Total future minimum lease payments 3,139,000 Less imputed interest (213,000 ) Total Lease liabilities $ 2,926,000

Note 3 - Stock-based Compensa_3

Note 3 - Stock-based Compensation (Details Textual) - USD ($)	9 Months Ended		16 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021
Restricted Stock [Member]
Share-based Payment Arrangement, Expense	$ 83,000	$ 0
Share-based Payment Arrangement, Option [Member]
Share-based Payment Arrangement, Expense	155,000	$ 274,000
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total	$ 71,000		$ 71,000
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)	7 months 9 days
Incentive Plan 2020 [Member] | Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)	15,140	0	24,052
The2004 Plan Member
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares)	0
Incentive Plan 2020 [Member]
Common Stock, Capital Shares Reserved for Future Issuance (in shares)	1,800,000		1,800,000

Note 3 - Stocked-based Compensa

Note 3 - Stocked-based Compensation - Stock Option Activity (Details)	9 Months Ended
	Sep. 30, 2021$ / sharesshares
Options outstanding (in shares) | shares	568,740
Options outstanding (in dollars per share)	$ 3.42
Granted to employees and non-employee directors (in dollars per share)	$ 0
Exercised (in shares) | shares	(124,494)
Exercised (in dollars per share)	$ 3.15
Canceled/expired/forfeited (in shares) | shares	(6,666)
Canceled/expired/forfeited (in dollars per share)	$ 3.62
Options outstanding (in shares) | shares	437,580
Options outstanding (in dollars per share)	$ 3.51
Options exercisable (in shares) | shares	330,583
Options exercisable (in dollars per share)	$ 3.48

Note 4 - Investments (Details T

Note 4 - Investments (Details Textual) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Marketable Securities, Total	$ 0		$ 0
Proceeds from Sale and Maturity of Marketable Securities, Total	0
Debt Securities, Available-for-sale, Realized Gain (Loss), Total		$ (24,000)		$ 35,000
Debt Securities, Available-for-sale, Unrealized Gain (Loss), Total		(42,000)		(77,000)
Debt Securities, Available-for-sale, Realized Gain		18,000
Debt Securities, Available-for-sale, Gain (Loss), Total	$ 0	$ (24,000)	$ 0	$ (42,000)

Note 6 - Inventories - Inventor

Note 6 - Inventories - Inventories (Details) - USD ($)	Sep. 30, 2021	Dec. 31, 2020
Raw materials	$ 12,583,000	$ 9,729,000
Work in process	2,574,000	2,003,000
Finished goods	8,033,000	5,017,000
Inventory, Net, Total	$ 23,190,000	$ 16,749,000	[1]
[1]	The condensed consolidated balance sheet as of December 31, 2020 has been prepared using information from the audited consolidated balance sheet as of that date.

Note 7 - Equity Investment in_2

Note 7 - Equity Investment in Unconsolidated Affiliate (Details Textual)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2021USD ($)ft²	Sep. 30, 2020USD ($)	Sep. 30, 2021USD ($)ft²	Sep. 30, 2020USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2005
Expense To Acquire Inventory	$ 6,190,000	$ 4,156,000	$ 19,979,000	$ 12,636,000
Proceeds from Sale of Productive Assets, Total	399,000	180,000	1,291,000	833,000
Income (Loss) from Equity Method Investments, Total	$ 112,000	$ 250,000	$ 623,000	$ 456,000
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 (Square Foot) | ft²	113,000		113,000
INDIA | Harmony [Member] | Manufacturing Coated Material and Sewing Proprietary Disposable Protective Apparel [Member]
Area of Real Estate Property (Square Foot) | ft²	73,000		73,000
INDIA | Harmony [Member] | Sewing Proprietary Disposable Protective Apparel [Member]
Area of Real Estate Property (Square Foot) | ft²	16,000		16,000
INDIA | Harmony [Member] | Manufacturing Of Building Products [Member]
Area of Real Estate Property (Square Foot) | ft²	93,000		93,000
Harmony [Member]
Equity Method Investment, Other than Temporary Impairment			$ 0		$ 0
Equity Method Investments	$ 6,172,000		6,172,000
Equity Method Investment, Aggregate Cost	1,450,000		1,450,000
Cumulative Equity In Income Of Unconsolidated Affiliate	$ 5,741,000		5,741,000
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 ($)	Sep. 30, 2021	Dec. 31, 2020
Payroll expenses and taxes payable	$ 336,000	$ 123,000
Commissions and bonuses payable and general accrued liabilities	784,000	2,670,000
Accrued liabilities	$ 1,120,000	$ 2,793,000	[1]
[1]	The condensed consolidated balance sheet as of December 31, 2020 has been prepared using information from the audited consolidated balance sheet as of that date.

Note 9 - Basic and Diluted Ea_3

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						9 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2021	Sep. 30, 2020
Net income	$ 766,000	$ 1,671,000	$ 3,719,000	$ 8,107,000	$ 6,220,000	$ 5,342,000	$ 6,156,000	$ 19,668,000
Shares (denominator):
Basic weighted average common shares outstanding (in shares)	13,177,520			13,588,554			13,255,125	13,431,210
Add: dilutive effect of common stock options (in shares)	241,965			444,473			300,800	546,354
Diluted weighted average common shares outstanding (in shares)	13,419,485			14,033,027			13,555,925	13,977,564
Earnings per common share:
Basic (in dollars per share)	$ 0.06			$ 0.60			$ 0.46	$ 1.46
Diluted (in dollars per share)	$ 0.06			$ 0.58			$ 0.45	$ 1.41

Note 10 - Activity of Busines_3

Note 10 - Activity of Business Segments (Details Textual)	9 Months Ended
	Sep. 30, 2021
Number of Operating Segments	2

Note 10 - Activity of Busines_4

Note 10 - Activity of Business Segments - Consolidated Net Sales (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Net sales	$ 14,475,000	$ 30,027,000	$ 55,442,000	$ 73,681,000
Building Supply [Member] | Operating Segments [Member]
Net sales	10,072,000	7,668,000	28,210,000	22,677,000
Disposable Protective Apparel [Member] | Operating Segments [Member]
Net sales	$ 4,403,000	$ 22,359,000	$ 27,232,000	$ 51,004,000

Note 10 - Activity of Busines_5

Note 10 - Activity of Business Segments - Reconciliation of Total Segment Income to Total Consolidated Net Income (Details) - USD ($)	3 Months Ended						9 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2021	Sep. 30, 2020
Consolidated net income	$ 766,000	$ 1,671,000	$ 3,719,000	$ 8,107,000	$ 6,220,000	$ 5,342,000	$ 6,156,000	$ 19,668,000
Provision for income taxes	196,000			2,490,000			1,550,000	3,284,000
Operating Segments [Member]
Consolidated net income	2,135,000			12,187,000			11,980,000	27,756,000
Operating Segments [Member] | Building Supply [Member]
Consolidated net income	1,901,000			1,307,000			5,629,000	4,023,000
Operating Segments [Member] | Disposable Protective Apparel [Member]
Consolidated net income	234,000			10,880,000			6,351,000	23,733,000
Corporate, Non-Segment [Member]
Consolidated net income	$ 1,173,000			$ 1,590,000			$ 4,274,000	$ 4,804,000

Note 10 - Activity of Busines_6

Note 10 - Activity of Business Segments - Consolidated Net Property and Equipment, Goodwill and Intangible Assets (Details) - USD ($)	Sep. 30, 2021	Dec. 31, 2020
Consolidated assets	$ 6,195,000	$ 4,415,000
Operating Segments [Member]
Consolidated assets	5,078,000	3,238,000
Operating Segments [Member] | Building Supply [Member]
Consolidated assets	3,649,000	1,806,000
Operating Segments [Member] | Disposable Protective Apparel [Member]
Consolidated assets	1,429,000	1,432,000
Corporate, Non-Segment [Member]
Consolidated assets	$ 1,117,000	$ 1,177,000

Note 11 - Financial Informati_3

Note 11 - Financial Information about Geographic Areas - Consolidated Net Sales and Long-lived Asset Information by Geographic Area (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Net sales by geographic region
Consolidated sales	$ 14,475,000	$ 30,027,000	$ 55,442,000	$ 73,681,000
Long-lived assets by geographic region
Consolidated total long-lived assets	6,136,000		6,136,000		$ 4,353,000
Reportable Geographical Components [Member]
Net sales by geographic region
Consolidated sales	14,475,000
UNITED STATES
Long-lived assets by geographic region
Consolidated total long-lived assets	4,668,000		4,668,000		2,787,000
UNITED STATES | Reportable Geographical Components [Member]
Net sales by geographic region
Consolidated sales	14,244,000	24,295,000	52,836,000	62,461,000
International Member
Long-lived assets by geographic region
Consolidated total long-lived assets	1,468,000		1,468,000		$ 1,566,000
International Member | Reportable Geographical Components [Member]
Net sales by geographic region
Consolidated sales	$ 231,000	$ 5,732,000	$ 2,606,000	$ 11,220,000

Note 13 - Leases (Details Textu

Note 13 - Leases (Details Textual) - USD ($)	3 Months Ended	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2021	Jun. 30, 2021
Operating Lease, Right-of-Use Asset	$ 2,872,000	$ 2,872,000
Operating Lease, Liability, Total	2,926,000	2,926,000
Finance Lease, Liability, Total			$ 0
Operating Lease, Expense	$ 265,000	$ 769,000
Operating Lease, Weighted Average Remaining Lease Term (Year)	3 years 3 months 7 days	3 years 3 months 7 days
Operating Lease, Weighted Average Discount Rate, Percent	4.07%	4.07%

Note 13 - Leases - Future Minim

Note 13 - Leases - Future Minimum Lease Payment (Details)	Sep. 30, 2021USD ($)
Remaining three months of 2021	$ 263,000
2022	1,010,000
2023	1,017,000
2024	484,000
2025	365,000
Total future minimum lease payments	3,139,000
Less imputed interest	(213,000)
Total Lease liabilities	$ 2,926,000