Alpha Pro Tech, Ltd. Announces Additional $2 Million Expansion to Share Repurchase Program
Alpha Pro Tech, Ltd. (NYSE MKT: APT), a leading manufacturer of
products designed to protect people, products and environments,
including disposable protective apparel and building products, today
announced that its Board of Directors has authorized a $2.0 million
expansion of the Company’s existing share repurchase program. Management
anticipates repurchasing shares through open market purchases or through
privately negotiated transactions and intends to retire all shares
purchased through this program.
With this authorized expansion, the Company now has approximately $2.2
million available to repurchase shares of the Company’s common stock,
$0.2 million of which remains from the previous expansion announced in
October 2012.
Repurchases may take place on the open market from time to time based on
market conditions, subject to certain conditions and timing restrictions
to comply with applicable rules and regulations, and may be suspended
for periods or discontinued as deemed necessary by the Company. The
Company has not established specific goals as to the number of shares to
be acquired or the purchase price at which shares will be purchased.
Decisions about these matters will be based on market conditions,
general business conditions and other relevant factors.
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 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.