ALPHA PRO TECH UPDATES STATUS OF ORDERS OF THE COMPANY’S PROPRIETARY N-95 FACE MASK IN RESPONSE TO CORONAVIRUS OUTBREAK
February 27 2020 - 7:00AM
Alpha Pro Tech, Ltd. (NYSE American: APT), a leading manufacturer
of products designed to protect people, products and environments,
including disposable protective apparel and building products,
today announced an update to the status of orders booked for APT’s
proprietary N-95 Particulate Respirator face mask. As previously
reported, over the last month, APT has ramped up production of the
company’s N-95 face mask, which is manufactured by APT in the
United States with material sourced domestically, in response to a
significant increase in customer demand resulting from the outbreak
of the coronavirus (Covid-19).
APT has now booked approximately $14.1 million
in orders for the company’s N-95 face mask since January 27, 2020,
an increase of $3.6 million from the $10.4 million reported as of
February 13, 2020, and demand for the product remains strong. As a
result of the ramp up in production, the company now expects to
fulfill approximately $4.0 million of the currently booked orders
in the first quarter of 2020. During the second quarter of 2020,
APT expects to fulfill the remainder of the $14.1 million in
currently booked orders. Furthermore, APT also expects to fulfill
anticipated additional new purchase orders during the second
quarter. The company’s current ramp up plan is expected to
be achieved by early May, which will enable the company to
continue to fulfill current and expected future orders.
The Alpha Pro Tech N-95 Particulate Respirator
face mask’s unique flat-fold design features a Positive Facial
Lock® (PFL®) and meets the Centers for Disease Control and
Prevention’s (CDC) and National Institute for Occupational Safety
and Health’s (NIOSH) recommended protection levels for many
airborne contaminants. The N-95 face mask filters at least
95% of airborne particles. The integrated Magic Arch®
technology creates a comfortable breathing chamber within the N-95
face mask by holding it away from the wearer’s nose and
mouth.
For more information on Alpha Pro Tech and the
company’s NIOSH-approved N-95 Particulate Respirator face mask and
other personal protective equipment products, visit Alpha Pro
Tech’s website at www.alphaprotech.com.
About Alpha Pro Tech,
Ltd.
Alpha Pro Tech, Ltd. is the parent company of
Alpha Pro Tech, Inc. and Alpha ProTech Engineered Products, Inc.
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. Alpha ProTech
Engineered Products, Inc. manufactures and markets a line of
construction weatherization products, including building wrap and
roof underlayment. The Company has manufacturing facilities in Salt
Lake City, Utah; Nogales, Arizona; Valdosta, Georgia; and a joint
venture in India. For more information and copies of all news
releases and financials, visit Alpha Pro Tech’s website at
http://www.alphaprotech.com.
Certain statements made in this press release
constitute “forward-looking statements” within the meaning of the
safe harbor provisions of the Private Securities Litigation Reform
Act of 1995. Forward-looking statements include any statement that
may predict, forecast, indicate or imply future results,
performance or achievements instead of historical facts and may be
identified generally by the use of forward-looking terminology and
words such as “expects,” “anticipates,” “estimates,” “believes,”
“predicts,” “intends,” “plans,” “potentially,” “may,” “continue,”
“should,” “will” and words of similar meaning. Without limiting the
generality of the preceding statement, all statements in this press
release relating to product demand, inventory levels, production
plans and capacity, fulfillment schedules, estimated and projected
earnings, margins, costs, expenditures, cash flows, sources of
capital, growth rates and future financial and operating results
are forward-looking statements. We caution investors that any such
forward-looking statements are only estimates based on current
information and involve risks and uncertainties that may cause
actual results to differ materially from the results contained in
the forward-looking statements. We cannot give assurances that any
such statements will prove to be correct. Factors that could cause
actual results to differ materially from those estimated by us
include the risks, uncertainties and assumptions described from
time to time in our public releases and reports filed with the
Securities and Exchange Commission, including, but not limited to,
our most recent Annual Report on Form 10-K. We also caution
investors that the forward-looking information described herein
represents our outlook only as of this date, and we undertake no
obligation to update or revise any forward-looking statements to
reflect events or developments after the date of this press
release. Given these uncertainties, investors should not place
undue reliance on forward-looking statements as a prediction of
actual results.
Company Contact:
Alpha Pro Tech, Ltd.
Donna Millar
905-479-0654
e-mail: ir@alphaprotech.com
Investor Relations Contact:
Hayden IR
Cameron Donahue
651-653-1854
e-mail: cameron@haydenir.com
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