ALPHA PRO TECH ANNOUNCES OVER $10.4 MILLION IN ORDERS FOR THE COMPANY’S PROPRIETARY N-95 FACE MASK RESULTING FROM WUHAN COR...
February 13 2020 - 06:45AM
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 that the company has booked over $10.4 million in
orders for APT’s proprietary N-95 Particulate Respirator face mask
since January 27, 2020 as a result of increased customer demand due
to the outbreak of the novel Wuhan coronavirus (Covid-19).
Lloyd Hoffman, President and Chief Executive
officer of Alpha Pro Tech, commented, “Since January 27th, we have
received orders for our proprietary N-95 Particulate Respirator
face mask representing roughly 24 times the revenue that we have
recorded from sales of this product for each year since 2016.
We have already commenced additional production of our N-95 face
mask at our Salt Lake City, Utah facility, and we expect to
continue to increase our production capacity.”
Mr. Hoffman continued, “Despite our rapid
increase in production capacity, backlog of orders continues to
expand, in dollar amount and fulfillment time. We expect to
fulfill approximately 30% of the currently booked orders in the
first quarter of 2020, and we expect further revenue growth after
the first quarter as additional orders are shipped. We are
committed to allocating the necessary resources and procuring the
necessary raw materials in an effort to meet this unprecedented
demand for our N-95 face mask and to aid communities around the
world as they address this ongoing healthcare crisis.”
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, 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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