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.
With this authorized expansion, the Company now has approximately $2.5
million available to repurchase shares of the Company’s common stock,
$0.5 million of which remains from the previous expansion announced in
May 2014.
Management anticipates repurchasing shares through open market purchases
or through privately-negotiated transactions and intends to retire all
shares purchased through the share repurchase program. Open market
purchases may be executed by the Company’s broker through a pre-arranged
repurchase plan, which operates in accordance with the guidelines
specified under Rule 10b5-1 and Rule 10b-18 of the Securities Exchange
Act of 1934, as amended. Any transactions under the repurchase plan will
be effected in accordance with the terms of the plan, including
specified price, volume and timing conditions, and will be applied
against the amount authorized for the Company’s share repurchase
program. Other open market and privately-negotiated purchases may occur
from time to time outside the repurchase plan based on market and
general business conditions, subject to applicable rules and regulations.
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.
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