Alpha Pro Tech Sales Up 2.3% to $59.1M; Net Income Falls to $3.5M
Alpha Pro Tech’s full-year 2025 sales rose 2.3% to $59.1 million while net income fell to $3.5 million, or $0.33 per share, from $3.9 million a year earlier; cash reached $17 million with zero debt. Building products saw housewrap sales up 2.3% despite a 7% drop in housing starts, and disposable garments grew 12.2%.
1. Financial Highlights
Full-year 2025 net sales increased 2.3% to $59.1 million from $57.8 million in 2024, while net income declined to $3.5 million, or $0.33 per diluted share, compared to $3.9 million, or $0.35 per share. As of December 31, 2025, the company held $17.0 million in cash, $48.5 million in working capital, and carried zero debt.
2. Building Products Performance
Single-family housing starts fell 7% through October 2025, yet housewrap sales outperformed with a 2.3% increase, nearly 10% above market decline. Synthetic roof underlayment rose 6.7% through September but ended the year down 10.6% due to steep roofing shipments declines and absent 2024 hurricane-related demand; market share was maintained through inventory and customer expansion.
3. Protective Apparel and Tariff Impact
Disposable protective garment sales, comprising 90% of the segment, grew 12.2% with momentum in Q3 and Q4, boosting sales of shoe covers, lab coats, gowns, and caps. Three tariff increases in 2025 pressured margins despite price hikes; management anticipates first-half 2026 gross margin drag before improvement from inventory depletion and potential tariff refunds after recent U.S. policy changes.