APT Alpha Pro Tech sales UP 62%

Alpha Pro Tech's personal protective equipment up 62% since March 11 06:55 APT Alpha Pro Tech updated the status of orders booked for personal protective equipment, or PPE, products in APT's disposable protective apparel product suite, including the company's proprietary N-95 Particulate Respirator face mask and face shields. As of April 7, APT has booked approximately $36.7M in orders for the company's proprietary N-95 Particulate Respirator face mask since January 27, an increase of $14.1M, or 62%, from the $22.6M in orders reported as of March 11. APT has seen exponential increases also in longer-term ongoing purchase orders that extend beyond Q3 and into the first half of 2021. Approximately 20% of the booked orders fall into the latter category. The company fulfilled approximately $3.7M of the orders in Q1, which was slightly below the previously estimated forecast of $4.0M. The remaining backlog of N-95 face mask orders that are not requested before the beginning of Q4 is expected to be fulfilled by the end of Q3. The company still expects its phase 1 ramp up plan on N-95 face mask production to be completed by early May and is in the process of a phase 2 expansion expected to be operational by late summer 2020. APT has also seen a significant increase in orders of the company's face shield products since January 27, with current orders totaling over $11.6M, up from the $1.6M in orders reported as of March 11. The approximate average annual sales of this product line over the last three years has been $1.6M. The company has booked face shield orders that have request dates that extend into the first half of 2021. Approximately $1.4M of face shield orders were fulfilled in Q1. The company's other disposable protective apparel product lines have also seen a significant increase in demand, which primarily began in early March and has continued into April. The company's joint venture in India that manufactures these disposable protective apparel product lines is currently under a country-wide, government mandated closure that is expected to last until mid-April, and could be extended.
Source the fly