Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2020 | Nov. 02, 2020 | |
Document Information [Line Items] | ||
Entity Registrant Name | ALPHA PRO TECH LTD | |
Entity Central Index Key | 0000884269 | |
Trading Symbol | apt | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Non-accelerated Filer | |
Entity Current Reporting Status | Yes | |
Entity Emerging Growth Company | false | |
Entity Small Business | true | |
Entity Interactive Data Current | Yes | |
Entity Common Stock, Shares Outstanding (in shares) | 13,577,845 | |
Entity Shell Company | false | |
Document Type | 10-Q | |
Document Period End Date | Sep. 30, 2020 | |
Document Fiscal Year Focus | 2020 | |
Document Fiscal Period Focus | Q3 | |
Amendment Flag | false | |
Title of 12(b) Security | Common Stock, $0.01 par value |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) | Sep. 30, 2020 | Dec. 31, 2019 | |
Current assets: | |||
Cash and cash equivalents | $ 24,583,000 | $ 6,548,000 | [1] |
Investments | 173,000 | 335,000 | [1] |
Accounts receivable, net of allowance for doubtful accounts of $68,000 as of September 30, 2020 and $53,000 as of December 31, 2019 | 9,137,000 | 3,568,000 | [1] |
Accounts receivable, related party | 833,000 | 724,000 | [1] |
Inventories | 13,155,000 | 11,303,000 | [1] |
Prepaid expenses | 4,859,000 | 3,587,000 | [1] |
Total current assets | 52,740,000 | 26,065,000 | [1] |
Property and equipment, net | 4,086,000 | 3,943,000 | [1] |
Goodwill | 55,000 | 55,000 | [1] |
Definite-lived intangible assets, net | 9,000 | 11,000 | [1] |
Right-of-use assets | 2,501,000 | 3,178,000 | [1] |
Equity investment in unconsolidated affiliate | 5,295,000 | 4,839,000 | [1] |
Total assets | 64,686,000 | 38,091,000 | [1] |
Current liabilities: | |||
Accounts payable | 992,000 | 501,000 | [1] |
Accrued liabilities | 2,969,000 | 920,000 | [1] |
Customer advance payments of orders | 3,218,000 | [1] | |
Lease liabilities | 893,000 | 882,000 | [1] |
Total current liabilities | 8,072,000 | 2,303,000 | [1] |
Lease liabilities, net of current portion | 1,657,000 | 2,337,000 | [1] |
Deferred income tax liabilities, net | 224,000 | 224,000 | [1] |
Total liabilities | 9,953,000 | 4,864,000 | [1] |
Commitments | |||
Shareholders' equity: | |||
Common stock, $.01 par value: 50,000,000 shares authorized; 13,577,847 and 12,885,273 shares outstanding as of September 30, 2020 and December 31, 2019, respectively | 136,000 | 129,000 | [1] |
Additional paid-in capital | 2,539,000 | 708,000 | [1] |
Retained earnings | 52,058,000 | 32,390,000 | [1] |
Total shareholders' equity | 54,733,000 | 33,227,000 | [1] |
Total liabilities and shareholders' equity | $ 64,686,000 | $ 38,091,000 | [1] |
[1] | The condensed consolidated balance sheet as of December 31, 2019 has been prepared using information from the audited consolidated balance sheet as of that date. |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) | Sep. 30, 2020 | Dec. 31, 2019 | [1] |
Allowance for doubtful accounts | $ 68,000 | $ 53,000 | |
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 | |
Common stock, shares authorized (in shares) | 50,000,000 | 50,000,000 | |
Common stock, shares outstanding (in shares) | 13,577,847 | 12,885,273 | |
[1] | The condensed consolidated balance sheet as of December 31, 2019 has been prepared using information from the audited consolidated balance sheet as of that date. |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Income (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Net sales | $ 30,027,000 | $ 12,027,000 | $ 73,681,000 | $ 35,745,000 |
Cost of goods sold, excluding depreciation and amortization | 14,891,000 | 7,807,000 | 37,378,000 | 22,616,000 |
Gross profit | 15,136,000 | 4,220,000 | 36,303,000 | 13,129,000 |
Operating expenses: | ||||
Selling, general and administrative | 4,580,000 | 3,172,000 | 13,236,000 | 10,108,000 |
Depreciation and amortization | 186,000 | 142,000 | 546,000 | 410,000 |
Total operating expenses | 4,766,000 | 3,314,000 | 13,782,000 | 10,518,000 |
Income from operations | 10,370,000 | 906,000 | 22,521,000 | 2,611,000 |
Other income: | ||||
Equity in income of unconsolidated affiliate | 250,000 | 10,000 | 456,000 | 371,000 |
Gain (loss) on marketable securities | (24,000) | (387,000) | (42,000) | 223,000 |
Interest income, net | 1,000 | 18,000 | 17,000 | 52,000 |
Total other income | 227,000 | (359,000) | 431,000 | 646,000 |
Income before provision for income taxes | 10,597,000 | 547,000 | 22,952,000 | 3,257,000 |
Provision for income taxes | 2,490,000 | 110,000 | 3,284,000 | 592,000 |
Net income | $ 8,107,000 | $ 437,000 | $ 19,668,000 | $ 2,665,000 |
Basic earnings per common share (in dollars per share) | $ 0.60 | $ 0.03 | $ 1.46 | $ 0.20 |
Diluted earnings per common share (in dollars per share) | $ 0.58 | $ 0.03 | $ 1.41 | $ 0.20 |
Basic weighted average common shares outstanding (in shares) | 13,588,554 | 13,056,173 | 13,431,210 | 13,209,598 |
Diluted weighted average common shares outstanding (in shares) | 14,033,027 | 13,075,692 | 13,977,564 | 13,238,026 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Shareholders' Equity (Unaudited) - USD ($) | Common Stock [Member] | Additional Paid-in Capital [Member] | AOCI Attributable to Parent [Member] | Retained Earnings [Member] | Total | |
Balance (in shares) at Dec. 31, 2018 | 13,502,684 | |||||
Balance at Dec. 31, 2018 | $ 135,000 | $ 2,669,000 | $ 29,390,000 | $ 32,194,000 | ||
Net income | 1,218,000 | 1,218,000 | ||||
Common stock repurchased and retired (in shares) | (255,000) | |||||
Common stock repurchased and retired | $ (2,000) | (1,006,000) | (1,008,000) | |||
Stock-based compensation expense | 122,000 | 122,000 | ||||
Options exercised (in shares) | 33,334 | |||||
Options exercised | 60,000 | 60,000 | ||||
Balance (in shares) at Mar. 31, 2019 | 13,281,018 | |||||
Balance at Mar. 31, 2019 | $ 133,000 | 1,845,000 | 30,608,000 | 32,586,000 | ||
Balance (in shares) at Dec. 31, 2018 | 13,502,684 | |||||
Balance at Dec. 31, 2018 | $ 135,000 | 2,669,000 | 29,390,000 | 32,194,000 | ||
Net income | $ 2,665,000 | |||||
Balance (in shares) at Sep. 30, 2019 | 13,004,507 | |||||
Balance at Sep. 30, 2019 | $ 130,000 | 1,058,000 | 32,055,000 | 33,243,000 | ||
Balance (in shares) at Mar. 31, 2019 | 13,281,018 | |||||
Balance at Mar. 31, 2019 | $ 133,000 | 1,845,000 | 30,608,000 | 32,586,000 | ||
Net income | 1,010,000 | 1,010,000 | ||||
Common stock repurchased and retired (in shares) | (172,000) | |||||
Common stock repurchased and retired | $ (2,000) | (626,000) | (628,000) | |||
Stock-based compensation expense | 138,000 | 138,000 | ||||
Options exercised (in shares) | ||||||
Options exercised | ||||||
Balance (in shares) at Jun. 30, 2019 | 13,109,018 | |||||
Balance at Jun. 30, 2019 | $ 131,000 | 1,357,000 | 31,618,000 | 33,106,000 | ||
Net income | 437,000 | 437,000 | $ 437,000 | |||
Common stock repurchased and retired (in shares) | (121,010) | |||||
Common stock repurchased and retired | $ (1,000) | (427,000) | (428,000) | |||
Stock-based compensation expense | 93,000 | 93,000 | ||||
Options exercised (in shares) | 16,499 | |||||
Options exercised | 35,000 | 35,000 | ||||
Balance (in shares) at Sep. 30, 2019 | 13,004,507 | |||||
Balance at Sep. 30, 2019 | $ 130,000 | 1,058,000 | 32,055,000 | 33,243,000 | ||
Balance (in shares) at Dec. 31, 2019 | 12,885,273 | 12,885,273 | [1] | |||
Balance at Dec. 31, 2019 | $ 129,000 | 708,000 | 32,390,000 | 33,227,000 | $ 33,227,000 | [2] |
Net income | 5,341,000 | 5,341,000 | ||||
Common stock repurchased and retired (in shares) | (35,100) | |||||
Common stock repurchased and retired | (125,000) | (125,000) | ||||
Stock-based compensation expense | 91,000 | 91,000 | ||||
Options exercised (in shares) | 712,839 | |||||
Options exercised | $ 7,000 | 1,834,000 | 1,841,000 | |||
Balance (in shares) at Mar. 31, 2020 | 13,563,012 | |||||
Balance at Mar. 31, 2020 | $ 136,000 | 2,508,000 | 37,731,000 | 40,375,000 | ||
Balance (in shares) at Dec. 31, 2019 | 12,885,273 | 12,885,273 | [1] | |||
Balance at Dec. 31, 2019 | $ 129,000 | 708,000 | 32,390,000 | 33,227,000 | $ 33,227,000 | [2] |
Net income | $ 19,668,000 | |||||
Options exercised (in shares) | 747,674 | |||||
Balance (in shares) at Sep. 30, 2020 | 13,577,847 | 13,577,847 | ||||
Balance at Sep. 30, 2020 | $ 136,000 | 2,539,000 | 52,058,000 | 54,733,000 | $ 54,733,000 | |
Balance (in shares) at Mar. 31, 2020 | 13,563,012 | |||||
Balance at Mar. 31, 2020 | $ 136,000 | 2,508,000 | 37,731,000 | 40,375,000 | ||
Net income | 6,220,000 | 6,220,000 | ||||
Common stock repurchased and retired (in shares) | ||||||
Common stock repurchased and retired | ||||||
Stock-based compensation expense | 92,000 | 92,000 | ||||
Options exercised (in shares) | 24,835 | |||||
Options exercised | 94,000 | 94,000 | ||||
Balance (in shares) at Jun. 30, 2020 | 13,587,847 | |||||
Balance at Jun. 30, 2020 | $ 136,000 | 2,694,000 | 43,951,000 | 46,781,000 | ||
Net income | 8,107,000 | 8,107,000 | $ 8,107,000 | |||
Common stock repurchased and retired (in shares) | (20,000) | |||||
Common stock repurchased and retired | (281,000) | (281,000) | ||||
Stock-based compensation expense | 91,000 | 91,000 | ||||
Options exercised (in shares) | 10,000 | |||||
Options exercised | 35,000 | 35,000 | ||||
Balance (in shares) at Sep. 30, 2020 | 13,577,847 | 13,577,847 | ||||
Balance at Sep. 30, 2020 | $ 136,000 | $ 2,539,000 | $ 52,058,000 | $ 54,733,000 | $ 54,733,000 | |
[1] | The condensed consolidated balance sheet as of December 31, 2019 has been prepared using information from the audited consolidated balance sheet as of that date. | |||||
[2] | The condensed consolidated balance sheet as of December 31, 2019 has been prepared using information from the audited consolidated balance sheet as of that date. |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Cash Flows From Operating Activities: | ||||
Net income | $ 8,107,000 | $ 437,000 | $ 19,668,000 | $ 2,665,000 |
Adjustments to reconcile net income to net cash used in operating activities: | ||||
Stock-based compensation | 274,000 | 353,000 | ||
Depreciation and amortization | 186,000 | 142,000 | 546,000 | 410,000 |
Loss (gain) on marketable securities | 24,000 | 387,000 | 42,000 | (223,000) |
Equity in income of unconsolidated affiliate | (250,000) | (10,000) | (456,000) | (371,000) |
Operating lease expense, net of accretion | 677,000 | 532,000 | ||
Changes in assets and liabilities: | ||||
Accounts receivable, net | (5,569,000) | (479,000) | ||
Accounts receivable, related party | (109,000) | (372,000) | ||
Inventories | (1,852,000) | (1,377,000) | ||
Prepaid expenses | (1,272,000) | 855,000 | ||
Accounts payable and accrued liabilities | 2,540,000 | (402,000) | ||
Customer advance payments of orders | 3,218,000 | |||
Lease liabilities | (669,000) | (492,000) | ||
Net cash provided by operating activities | 17,038,000 | 1,099,000 | ||
Cash Flows From Investing Activities: | ||||
Purchase of property and equipment | (687,000) | (1,164,000) | ||
Proceeds from sales of marketable securities | 120,000 | 133,000 | ||
Net cash used in investing activities | (567,000) | (1,031,000) | ||
Cash Flows From Financing Activities: | ||||
Proceeds from exercise of stock options | 1,970,000 | 95,000 | ||
Repurchase of common stock | (406,000) | (2,064,000) | ||
Net cash provided (used) in financing activities | 1,564,000 | (1,969,000) | ||
Increase (decrease) in cash | 18,035,000 | (1,901,000) | ||
Cash, beginning of the period | 6,548,000 | 7,007,000 | ||
Cash, end of the period | $ 24,583,000 | $ 5,106,000 | $ 24,583,000 | $ 5,106,000 |
Supplemental Disclosure of Non-
Supplemental Disclosure of Non-cash Financing Activities | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Cash Flow, Supplemental Disclosures [Text Block] | Supplemental disclosure of non-cash financing activities: Upon adoption of ASC 842, January 1, 2019, $3,455,000 See accompanying Notes to Condensed Consolidated Financial Statements (Unaudited). |
Note 1 - The Company
Note 1 - The Company | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Nature of Operations [Text Block] | 1. The Company Alpha Pro Tech, Ltd. (“Alpha Pro Tech,” the “Company,” “we”, “us” or “our”) is in the business of protecting people, products and environments. The Company accomplishes this by developing, manufacturing and marketing a line of building supply products for the new home and re-roofing markets and a line of disposable protective apparel for the cleanroom, industrial, pharmaceutical, medical and dental markets. The Building Supply segment consists of construction weatherization products, such as housewrap and synthetic roof underlayment, as well as other woven material. The Disposable Protective Apparel segment consists of a complete line of disposable protective clothing (shoecovers, bouffant caps, coveralls, gowns, frocks and lab coats), face masks and face shields. Previously, face masks and face shields were included in a separate business segment called Infection Control. All of our disposable protective apparel products, including face masks and face shields, are sold through similar distribution channels, are single-use and disposable, have the purpose of protecting people, products and environments, and have to be produced in Food and Drug Administration (“FDA”) approved facilities, regardless of the market served. Based on these similarities, the Infection Control segment was combined with the Disposable Protective Apparel segment during the first 2019. The Company's products are sold under the "Alpha Pro Tech" brand name as well as under private label, and are predominantly sold in the United States of America (“US”). The ongoing novel coronavirus (COVID- 19 19 19 |
Note 2 - Basis of Presentation
Note 2 - Basis of Presentation and Revenue Recognition Policy | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | 2. Basis of Presentation and Revenue Recognition P olicy The interim financial information included in this report is unaudited; however, the information reflects all adjustments (consisting of normal recurring adjustments) that are, in the opinion of management, necessary for the fair presentation of the consolidated financial position, results of operations and cash flows for the interim periods reflected herein. These interim condensed consolidated financial statements have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”) and, therefore, omit certain information and note disclosures that would be necessary to present the statements in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”). The interim condensed consolidated financial statements should be read in conjunction with the Company's current year SEC filings, as well as the Company's consolidated financial statements for the year ended December 31, 2019, 10 December 31, 2019 ( “2019 10 March 10, 2020. three nine September 30, 2020 10 not December 31, 2019 2019 10 not Net sales includes revenue from products and shipping and handling charges, net of estimates for product returns and any related sales incentives. Our customer contracts have a single performance obligation: transfer control of products to customers. Revenue is measured as the amount of consideration that we expect to receive in exchange for transferring control of products. All revenue is recognized when we satisfy our performance obligations under the applicable contract. We recognize revenue in connection with transferring control of the promised products to the customer, with revenue being recognized at the point in time when the customer obtains control of the products, which is generally when title passes to the customer upon delivery to a third not third not September 30, 2020 no September 30, 2020, $3,218,000 19 No December 31, 2019. 10 11 |
Note 3 - Stock-based Compensati
Note 3 - Stock-based Compensation | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | 3. S tock - Based Compensation The Company maintains a stock option plan (the “2004 may The Company records compensation expense for the fair value of stock-based awards determined as of the grant date, including employee stock options, over the determined requisite service period, which is generally ratably over the vesting term. For the nine September 30, 2020 2019, 0 370,000 2004 $274,000 $353,000 nine September 30, 2020 2019, The Company uses the Black-Scholes option-pricing model to value the options. The Company uses historical data to estimate the expected life of the options. The risk-free interest rate for periods within the contractual life of an award is based on the US Treasury yield curve in effect at the time of grant. The estimated volatility is based on historical volatility and management's expectations of future volatility. The Company uses an estimated dividend payout of zero, as the Company has not not The following table summarizes stock option activity for the nine September 30, 2020: Weighted Average Exercise Price Options Per Option Options outstanding, December 31, 2019 1,326,414 $ 2.86 Granted to employees and non-employee directors - - Exercised (747,674 ) 2.63 Canceled/expired/forfeited - - Options outstanding, September 30, 2020 578,740 3.43 Options exercisable, September 30, 2020 172,167 3.22 As of September 30, 2020, $315,000 1.31 At the Company's 2020 June 9, 2020, 2020 “2020 2020 1,800,000 2020 2004 2004 2020 no 2004 no may 2004 2004 2004 September 30, 2020, no 2020 |
Note 4 - Investments
Note 4 - Investments | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | 4. Investments As of September 30, 2020 December 31, 2019, $173,000 $335,000, three September 30, 2020, no three September 30, 2019. three September 30, 2020 $24,000, $42,000 $18,000. nine September 30, 2020 2019. nine September 30, 2020 $42,000, nine September 30, 2019 $223,000. nine September 30, 2020 $77,000 $35,000. nine September 30, 2019 $168,000 $55,000. |
Note 5 - Recent Accounting Pron
Note 5 - Recent Accounting Pronouncements | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Accounting Standards Update and Change in Accounting Principle [Text Block] | 5. Recent Accounting Pronouncements In February 2016, 2016 02, December 15, 2018, August 2018, 2018 11, 842, not 842, January 1, 2019 2018 11. one $3,455,000. not not not not not 13 In June 2016, 2016 13 326 2016 13 2016 13 December 15, 2019. January 1, 2020. not In June 2018, 2018 07, 718 2018 07 December 15, 2018 no 606. first 2019. not In December 2019, No. 2019 12, 740 2019 12 740 December 15, 2020, Management periodically reviews new accounting standards that are issued. Management has not |
Note 6 - Inventories
Note 6 - Inventories | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | 6. Inventories As of September 30, 2020 December 31, 2019, September 30, December 31, 2020 2019 Raw materials $ 7,963,000 $ 4,284,000 Work in process 1,905,000 2,559,000 Finished goods 3,287,000 4,460,000 $ 13,155,000 $ 11,303,000 |
Note 7 - Equity Investment in U
Note 7 - Equity Investment in Unconsolidated Affiliate | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Equity Method Investments and Joint Ventures Disclosure [Text Block] | 7 . Equity I nvestment in Unconsolidated Affiliate In 2005, 41.66% 58.34% This joint venture positions Alpha ProTech Engineered Products, Inc. to respond to current and expected increased product demand for housewrap and synthetic roof underlayment and provides future capacity for sales of specialty roofing component products and custom products for industrial applications requiring high quality extrusion coated fabrics. In addition, the joint venture now supplies products for the Disposable Protective Apparel segment. The capital from the initial funding and a bank loan, which loan is guaranteed exclusively by the individual shareholders of Maple Industries and associates and collateralized by the assets of Harmony, were utilized to purchase the original manufacturing facility in India. Harmony currently has four three one 1 113,000 2 73,000 3 16,000 4 93,000 no In accordance with ASC 810, not 810 not not The Company records its investment in Harmony as “equity investment in unconsolidated affiliate” in the accompanying condensed consolidated balance sheets. The Company records its equity interest in Harmony's results of operations as “equity in income of unconsolidated affiliate” in the accompanying condensed consolidated statements of income. The Company periodically reviews its investment in Harmony for impairment. Management has determined that no September 30, 2020 December 31, 2019. For the three September 30, 2020 2019, $4,156,000 $4,849,000 nine September 30, 2020 2019, $12,636,000 $15,300,000 For the three September 30, 2020 2019, $250,000 $10,000, nine September 30, 2020 2019, $456,000 $371,000, As of September 30, 2020, $5,295,000, $1,450,000 $4,864,000, $942,000 $77,000 |
Note 8 - Accrued Liabilities
Note 8 - Accrued Liabilities | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Accounts Payable and Accrued Liabilities Disclosure [Text Block] | 8 . Accrued Liabilities As of September 30, 2020 December 31, 2019, September 30, December 31, 2020 2019 Payroll expenses and taxes payable $ 1,085,000 $ 299,000 Commissions and bonuses payable and general accrued liabilities 1,884,000 621,000 $ 2,969,000 $ 920,000 |
Note 9 - Basic and Diluted Earn
Note 9 - Basic and Diluted Earnings Per Common Share | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 9 . Basic and Diluted Earnings Per Common Share The following table provides a reconciliation of both net income and the number of shares used in the computation of “basic” earnings per common share (“EPS”), which utilizes the weighted average number of common shares outstanding without regard to dilutive shares, and “diluted” EPS, which includes all such dilutive shares, for the three nine September 30, 2020 2019: For the Three Months Ended For the Nine Months Ended September 30, September 30, 2020 2019 2020 2019 Net income (numerator) $ 8,107,000 $ 437,000 $ 19,668,000 $ 2,665,000 Shares (denominator): Basic weighted average common shares outstanding 13,588,554 13,056,173 13,431,210 13,209,598 Add: dilutive effect of common stock options 444,473 19,519 546,354 28,428 Diluted weighted average common shares outstanding 14,033,027 13,075,692 13,977,564 13,238,026 Earnings per common share: Basic $ 0.60 $ 0.03 $ 1.46 $ 0.20 Diluted $ 0.58 $ 0.03 $ 1.41 $ 0.20 |
Note 10 - Activity of Business
Note 10 - Activity of Business Segments | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | 10 . Activity of Business Segments The Company operates through two ( 1 Building Supply ( 2 Disposable Protective Apparel Previously, face masks and face shields were included in a separate business segment called Infection Control. All of our disposable protective apparel, including face masks and face shields, are sold through similar distribution channels, are single-use and disposable, have the purpose of protecting people, products and environments, and have to be produced in FDA-approved facilities, regardless of the market served. Based on these similarities, we determined that it would be best to consolidate the Infection Control segment into the Disposable Protective Apparel segment beginning with the first 2019. Segment data excludes charges allocated to the principal executive office and other unallocated corporate overhead expenses and income tax. The Company evaluates the performance of its segments and allocates resources to them based primarily on net sales. The following table presents consolidated net sales for each segment for the three nine September 30, 2020 2019: For the Three Months Ended For the Nine Months Ended September 30, September 30, 2020 2019 2020 2019 Building Supply $ 7,668,000 $ 7,215,000 $ 22,677,000 $ 20,423,000 Disposable Protective Apparel 22,359,000 4,812,000 51,004,000 15,322,000 Consolidated net sales $ 30,027,000 $ 12,027,000 $ 73,681,000 $ 35,745,000 The following table presents the reconciliation of consolidated segment income to consolidated net income for the three nine September 30, 2020 2019: For the Three Months Ended For the Nine Months Ended September 30, September 30, 2020 2019 2020 2019 Building Supply $ 1,307,000 $ 1,010,000 $ 4,023,000 $ 2,819,000 Disposable Protective Apparel 10,880,000 839,000 23,733,000 3,140,000 Total segment income 12,187,000 1,849,000 27,756,000 5,959,000 Unallocated corporate overhead expenses 1,590,000 1,302,000 4,804,000 2,702,000 Provision for income taxes 2,490,000 110,000 3,284,000 592,000 Consolidated net income $ 8,107,000 $ 437,000 $ 19,668,000 $ 2,665,000 The following table presents the consolidated net property and equipment, goodwill and definite-lived intangible assets (“consolidated assets”) by segment as of September 30, 2020 December 31, 2019: September 30, December 31, 2020 2019 Building Supply $ 1,913,000 $ 1,867,000 Disposable Protective Apparel 1,193,000 1,087,000 Total segment assets 3,106,000 2,954,000 Unallocated corporate assets 1,044,000 1,055,000 Total consolidated assets $ 4,150,000 $ 4,009,000 |
Note 11 - Financial Information
Note 11 - Financial Information about Geographic Areas | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Financial Information about Geographic Areas [Text Block] | 11 . Financial Information about Geographic Areas The following table summarizes the Company's net sales by geographic region for the three nine September 30, 2020 2019: For the Three Months Ended For the Nine Months Ended September 30, September 30, 2020 2019 2020 2019 Net sales by geographic region United States $ 24,295,000 $ 11,806,000 $ 62,461,000 $ 35,004,000 International 5,732,000 221,000 11,220,000 741,000 Consolidated net sales $ 30,027,000 $ 12,027,000 $ 73,681,000 $ 35,745,000 Net sales by geographic region are based on the countries in which our customers are located. For the three nine September 30, 2020, $4,514,000 $6,567,000, No three nine September 30, 2019, not The following table summarizes the locations of the Company's long-lived assets by geographic region as of September 30, 2020 December 31, 2019: September 30, December 31, 2020 2019 Long-lived assets by geographic region United States $ 2,642,000 $ 2,450,000 International 1,444,000 1,493,000 Consolidated total long-lived assets $ 4,086,000 $ 3,943,000 |
Note 12 - Related Party Transac
Note 12 - Related Party Transactions | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | 1 2 . Related Party Transactions As of September 30, 2020, no 7 |
Note 13 - Leases
Note 13 - Leases | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | 1 3 . Leases The Company has operating leases for the Company's corporate office and manufacturing facilities, which expire at various dates through 2024. September 30, 2020 As of September 30, 2020, $2,501,000 $2,550,000. September 30, 2020, not $201,000 $603,000 three nine September 30, 2020, The aggregate future minimum lease payments and reconciliation to lease liabilities as of September 30, 2020 September 30, 2020 Remaining three months of 2020 $ 273,000 2021 1,000,000 2022 670,000 2023 676,000 Thereafter 126,000 Total future minimum lease payments 2,745,000 Less imputed interest (195,000 ) Total Lease liabilities $ 2,550,000 As of September 30, 2020, 3.97 nine September 30, 2020, 4.28%. |
Note 14 - Income Taxes
Note 14 - Income Taxes | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 1 4 . Income taxes The Company accounts for income taxes using the asset and liability method. A valuation allowance is recorded to reduce the carrying amounts of deferred income tax assets unless it is more likely than not not not Alpha Pro Tech, Ltd. and its subsidiaries file income tax returns in the U.S. federal jurisdiction, and in various state and foreign jurisdictions. An employer generally does not not not The company had an estimated nonrecurring tax benefit of $2.0 first 2020 $1.0 On March 27, 2020, 19 2021, may 100% 2018, 2019 2020 may five 2019 2020, 30% 50% |
Note 15 - Subsequent Events
Note 15 - Subsequent Events | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | 15. Subsequent Events The Company has reviewed and evaluated whether subsequent events have occurred from the condensed consolidated balance sheet date of September 30, 2020 10 no |
Note 3 - Stock-based Compensa_2
Note 3 - Stock-based Compensation (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Share-based Payment Arrangement, Option, Activity [Table Text Block] | Weighted Average Exercise Price Options Per Option Options outstanding, December 31, 2019 1,326,414 $ 2.86 Granted to employees and non-employee directors - - Exercised (747,674 ) 2.63 Canceled/expired/forfeited - - Options outstanding, September 30, 2020 578,740 3.43 Options exercisable, September 30, 2020 172,167 3.22 |
Note 6 - Inventories (Tables)
Note 6 - Inventories (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | September 30, December 31, 2020 2019 Raw materials $ 7,963,000 $ 4,284,000 Work in process 1,905,000 2,559,000 Finished goods 3,287,000 4,460,000 $ 13,155,000 $ 11,303,000 |
Note 8 - Accrued Liabilities (T
Note 8 - Accrued Liabilities (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Schedule of Accrued Liabilities [Table Text Block] | September 30, December 31, 2020 2019 Payroll expenses and taxes payable $ 1,085,000 $ 299,000 Commissions and bonuses payable and general accrued liabilities 1,884,000 621,000 $ 2,969,000 $ 920,000 |
Note 9 - Basic and Diluted Ea_2
Note 9 - Basic and Diluted Earnings Per Common Share (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | For the Three Months Ended For the Nine Months Ended September 30, September 30, 2020 2019 2020 2019 Net income (numerator) $ 8,107,000 $ 437,000 $ 19,668,000 $ 2,665,000 Shares (denominator): Basic weighted average common shares outstanding 13,588,554 13,056,173 13,431,210 13,209,598 Add: dilutive effect of common stock options 444,473 19,519 546,354 28,428 Diluted weighted average common shares outstanding 14,033,027 13,075,692 13,977,564 13,238,026 Earnings per common share: Basic $ 0.60 $ 0.03 $ 1.46 $ 0.20 Diluted $ 0.58 $ 0.03 $ 1.41 $ 0.20 |
Note 10 - Activity of Busines_2
Note 10 - Activity of Business Segments (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | For the Three Months Ended For the Nine Months Ended September 30, September 30, 2020 2019 2020 2019 Building Supply $ 7,668,000 $ 7,215,000 $ 22,677,000 $ 20,423,000 Disposable Protective Apparel 22,359,000 4,812,000 51,004,000 15,322,000 Consolidated net sales $ 30,027,000 $ 12,027,000 $ 73,681,000 $ 35,745,000 |
Reconciliation of Revenue from Segments to Consolidated [Table Text Block] | For the Three Months Ended For the Nine Months Ended September 30, September 30, 2020 2019 2020 2019 Building Supply $ 1,307,000 $ 1,010,000 $ 4,023,000 $ 2,819,000 Disposable Protective Apparel 10,880,000 839,000 23,733,000 3,140,000 Total segment income 12,187,000 1,849,000 27,756,000 5,959,000 Unallocated corporate overhead expenses 1,590,000 1,302,000 4,804,000 2,702,000 Provision for income taxes 2,490,000 110,000 3,284,000 592,000 Consolidated net income $ 8,107,000 $ 437,000 $ 19,668,000 $ 2,665,000 |
Reconciliation of Assets from Segment to Consolidated [Table Text Block] | September 30, December 31, 2020 2019 Building Supply $ 1,913,000 $ 1,867,000 Disposable Protective Apparel 1,193,000 1,087,000 Total segment assets 3,106,000 2,954,000 Unallocated corporate assets 1,044,000 1,055,000 Total consolidated assets $ 4,150,000 $ 4,009,000 |
Note 11 - Financial Informati_2
Note 11 - Financial Information about Geographic Areas (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas [Table Text Block] | For the Three Months Ended For the Nine Months Ended September 30, September 30, 2020 2019 2020 2019 Net sales by geographic region United States $ 24,295,000 $ 11,806,000 $ 62,461,000 $ 35,004,000 International 5,732,000 221,000 11,220,000 741,000 Consolidated net sales $ 30,027,000 $ 12,027,000 $ 73,681,000 $ 35,745,000 September 30, December 31, 2020 2019 Long-lived assets by geographic region United States $ 2,642,000 $ 2,450,000 International 1,444,000 1,493,000 Consolidated total long-lived assets $ 4,086,000 $ 3,943,000 |
Note 13 - Leases (Tables)
Note 13 - Leases (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | September 30, 2020 Remaining three months of 2020 $ 273,000 2021 1,000,000 2022 670,000 2023 676,000 Thereafter 126,000 Total future minimum lease payments 2,745,000 Less imputed interest (195,000 ) Total Lease liabilities $ 2,550,000 |
Supplemental Disclosure of No_2
Supplemental Disclosure of Non-cash Financing Activities (Details Textual) - USD ($) | Sep. 30, 2020 | Jan. 01, 2019 |
Operating Lease, Right-of-Use Asset | $ 2,501,000 | |
Operating Lease, Liability, Total | $ 2,550,000 | |
Accounting Standards Update 2016-02 [Member] | ||
Operating Lease, Right-of-Use Asset | $ 3,455,000 | |
Operating Lease, Liability, Total | $ 3,455,000 |
Note 2 - Basis of Presentatio_2
Note 2 - Basis of Presentation and Revenue Recognition Policy (Details Textual) - USD ($) | Sep. 30, 2020 | Dec. 31, 2019 | |
Contract with Customer, Liability, Current | $ 3,218,000 | [1] | |
[1] | The condensed consolidated balance sheet as of December 31, 2019 has been prepared using information from the audited consolidated balance sheet as of that date. |
Note 3 - Stock-based Compensa_3
Note 3 - Stock-based Compensation (Details Textual) - USD ($) xbrli-pure in Thousands | 9 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | 0 | 370,000 |
Share-based Payment Arrangement, Expense | $ 274,000 | $ 353,000 |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 0.00% | |
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 315,000 | |
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 1 year 113 days | |
Incentive Plan 2020 [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | 0 | |
Common Stock, Capital Shares Reserved for Future Issuance (in shares) | 1,800,000 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 0 |
Note 3 - Stock-based Compensa_4
Note 3 - Stock-based Compensation - Stock Option Activity (Details) | 9 Months Ended | |
Sep. 30, 2020$ / sharesshares | Sep. 30, 2019shares | |
Options outstanding (in shares) | 1,326,414 | |
Options outstanding, weighted average exercise price (in dollars per share) | $ / shares | $ 2.86 | |
Granted to employees and non-employee directors (in shares) | 0 | 370,000 |
Exercised (in shares) | (747,674) | |
Exercised, weighted average exercise price (in dollars per share) | $ / shares | $ 2.63 | |
Canceled/expired/forfeited (in shares) | ||
Canceled/expired/forfeited, weighted average exercise price (in dollars per share) | $ / shares | ||
Options outstanding (in shares) | 578,740 | |
Options outstanding, weighted average exercise price (in dollars per share) | $ / shares | $ 3.43 | |
Options exercisable (in shares) | 172,167 | |
Options exercisable, weighted average exercise price (in dollars per share) | $ / shares | $ 3.22 | |
Non-Employee Directors [Member] | ||
Granted to employees and non-employee directors (in shares) | ||
Granted to employees and non-employee directors, weighted average exercise price (in dollars per share) | $ / shares |
Note 4 - Investments (Details T
Note 4 - Investments (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | Dec. 31, 2019 | [1] | |
Available-for-sale Securities, Current, Total | $ 173,000 | $ 173,000 | $ 335,000 | |||
Proceeds from Sale and Maturity of Marketable Securities, Total | $ 0 | |||||
Debt Securities, Available-for-sale, Realized Gain (Loss), Total | (24,000) | 35,000 | $ 55,000 | |||
Debt Securities, Available-for-sale, Unrealized Gain (Loss), Total | (42,000) | (77,000) | 168,000 | |||
Debt Securities, Available-for-sale, Realized Gain | 18,000 | |||||
Debt Securities, Available-for-sale, Gain (Loss), Total | $ (24,000) | $ (387,000) | $ (42,000) | $ 223,000 | ||
[1] | The condensed consolidated balance sheet as of December 31, 2019 has been prepared using information from the audited consolidated balance sheet as of that date. |
Note 5 - Recent Accounting Pr_2
Note 5 - Recent Accounting Pronouncements (Details Textual) - USD ($) | Sep. 30, 2020 | Dec. 31, 2019 | [1] | Jan. 01, 2019 |
Assets, Total | $ 64,686,000 | $ 38,091,000 | ||
Accounting Standards Update 2016-02 [Member] | ||||
Assets, Total | $ 3,455,000 | |||
[1] | The condensed consolidated balance sheet as of December 31, 2019 has been prepared using information from the audited consolidated balance sheet as of that date. |
Note 6 - Inventories - Inventor
Note 6 - Inventories - Inventories (Details) - USD ($) | Sep. 30, 2020 | Dec. 31, 2019 | |
Raw materials | $ 7,963,000 | $ 4,284,000 | |
Work in process | 1,905,000 | 2,559,000 | |
Finished goods | 3,287,000 | 4,460,000 | |
Inventory, Net, Total | $ 13,155,000 | $ 11,303,000 | [1] |
[1] | The condensed consolidated balance sheet as of December 31, 2019 has been prepared using information from the audited consolidated balance sheet as of that date. |
Note 7 - Equity Investment in_2
Note 7 - Equity Investment in Unconsolidated Affiliate (Details Textual) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2020USD ($)ft² | Sep. 30, 2019USD ($) | Sep. 30, 2020USD ($)ft² | Sep. 30, 2019USD ($) | Dec. 31, 2019USD ($) | Dec. 31, 2005 | |
Expense To Acquire Inventory | $ 4,156,000 | $ 4,849,000 | $ 12,636,000 | $ 15,300,000 | ||
Income (Loss) from Equity Method Investments, Total | $ 250,000 | $ 10,000 | $ 456,000 | $ 371,000 | ||
INDIA | Harmony [Member] | ||||||
Number of Stores | 4 | 4 | ||||
Number Of Stores Owned | 3 | 3 | ||||
Number Of Stores Rented | 1 | 1 | ||||
INDIA | Harmony [Member] | Manufacturing Building Products [Member] | ||||||
Area of Real Estate Property (Square Foot) | ft² | 113,000 | 113,000 | ||||
INDIA | Harmony [Member] | Manufacturing Coated Material and Sewing Proprietary Disposable Protective Apparel [Member] | ||||||
Area of Real Estate Property (Square Foot) | ft² | 73,000 | 73,000 | ||||
INDIA | Harmony [Member] | Sewing Proprietary Disposable Protective Apparel [Member] | ||||||
Area of Real Estate Property (Square Foot) | ft² | 16,000 | 16,000 | ||||
INDIA | Harmony [Member] | Manufacturing Of Building Products [Member] | ||||||
Area of Real Estate Property (Square Foot) | ft² | 93,000 | 93,000 | ||||
Harmony [Member] | ||||||
Equity Method Investment, Other than Temporary Impairment | $ 0 | $ 0 | ||||
Equity Method Investments | $ 5,295,000 | 5,295,000 | ||||
Equity Method Investment, Aggregate Cost | 1,450,000 | 1,450,000 | ||||
Cumulative Equity In Income Of Unconsolidated Affiliate | $ 4,864,000 | 4,864,000 | ||||
Proceeds from Equity Method Investment, Distribution, Return of Capital | 942,000 | |||||
Proceeds from Equity Method Investment, Distribution | $ 77,000 | |||||
Harmony [Member] | Alpha Pro Tech Engineered Products [Member] | ||||||
Equity Method Investment, Ownership Percentage | 41.66% | |||||
Harmony [Member] | Maple Industries and Associates [Member] | ||||||
Equity Method Investment, Ownership Percentage | 58.34% |
Note 8 - Accrued Liabilities -
Note 8 - Accrued Liabilities - Accrued Liabilities (Details) - USD ($) | Sep. 30, 2020 | Dec. 31, 2019 | |
Payroll expenses and taxes payable | $ 1,085,000 | $ 299,000 | |
Commissions and bonuses payable and general accrued liabilities | 1,884,000 | 621,000 | |
Accrued liabilities | $ 2,969,000 | $ 920,000 | [1] |
[1] | The condensed consolidated balance sheet as of December 31, 2019 has been prepared using information from the audited consolidated balance sheet as of that date. |
Note 9 - Basic and Diluted Ea_3
Note 9 - Basic and Diluted Earnings Per Common Share - Reconciliation of Net Income and Number of Shares Used in Computations of Basic and Diluted EPS (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Net income | $ 8,107,000 | $ 437,000 | $ 19,668,000 | $ 2,665,000 |
Shares (denominator): | ||||
Basic weighted average common shares outstanding (in shares) | 13,588,554 | 13,056,173 | 13,431,210 | 13,209,598 |
Add: dilutive effect of common stock options (in shares) | 444,473 | 19,519 | 546,354 | 28,428 |
Diluted weighted average common shares outstanding (in shares) | 14,033,027 | 13,075,692 | 13,977,564 | 13,238,026 |
Earnings per common share: | ||||
Basic (in dollars per share) | $ 0.60 | $ 0.03 | $ 1.46 | $ 0.20 |
Diluted (in dollars per share) | $ 0.58 | $ 0.03 | $ 1.41 | $ 0.20 |
Note 10 - Activity of Busines_3
Note 10 - Activity of Business Segments (Details Textual) | 9 Months Ended |
Sep. 30, 2020 | |
Number of Operating Segments | 2 |
Note 10 - Activity of Busines_4
Note 10 - Activity of Business Segments - Consolidated Net Sales (Details) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2020 | Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Net sales | $ 30,027,000 | $ 30,027,000 | $ 12,027,000 | $ 73,681,000 | $ 35,745,000 |
Building Supply [Member] | Operating Segments [Member] | |||||
Net sales | 7,668,000 | 7,215,000 | 22,677,000 | 20,423,000 | |
Disposable Protective Apparel [Member] | Operating Segments [Member] | |||||
Net sales | $ 22,359,000 | $ 4,812,000 | $ 51,004,000 | $ 15,322,000 |
Note 10 - Activity of Busines_5
Note 10 - Activity of Business Segments - Reconciliation of Total Segment Income to Total Consolidated Net Income (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Consolidated net income | $ 8,107,000 | $ 437,000 | $ 19,668,000 | $ 2,665,000 |
Provision for income taxes | 2,490,000 | 110,000 | 3,284,000 | 592,000 |
Operating Segments [Member] | ||||
Consolidated net income | 12,187,000 | 1,849,000 | 27,756,000 | 5,959,000 |
Operating Segments [Member] | Building Supply [Member] | ||||
Consolidated net income | 1,307,000 | 1,010,000 | 4,023,000 | 2,819,000 |
Operating Segments [Member] | Disposable Protective Apparel [Member] | ||||
Consolidated net income | 10,880,000 | 839,000 | 23,733,000 | 3,140,000 |
Corporate, Non-Segment [Member] | ||||
Consolidated net income | $ 1,590,000 | $ 1,302,000 | $ 4,804,000 | $ 2,702,000 |
Note 10 - Activity of Busines_6
Note 10 - Activity of Business Segments - Consolidated Net Property and Equipment, Goodwill and Intangible Assets (Details) - USD ($) | Sep. 30, 2020 | Dec. 31, 2019 |
Consolidated assets | $ 4,150,000 | $ 4,009,000 |
Operating Segments [Member] | ||
Consolidated assets | 3,106,000 | 2,954,000 |
Operating Segments [Member] | Building Supply [Member] | ||
Consolidated assets | 1,913,000 | 1,867,000 |
Operating Segments [Member] | Disposable Protective Apparel [Member] | ||
Consolidated assets | 1,193,000 | 1,087,000 |
Corporate, Non-Segment [Member] | ||
Consolidated assets | $ 1,044,000 | $ 1,055,000 |
Note 11 - Financial Informati_3
Note 11 - Financial Information about Geographic Areas (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2020 | Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Revenue from Contract with Customer, Including Assessed Tax | $ 30,027,000 | $ 30,027,000 | $ 12,027,000 | $ 73,681,000 | $ 35,745,000 |
AUSTRALIA | |||||
Revenue from Contract with Customer, Including Assessed Tax | $ 4,514,000 | $ 6,567,000 |
Note 11 - Financial Informati_4
Note 11 - Financial Information about Geographic Areas - Consolidated Net Sales and Long-lived Asset Information by Geographic Area (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2020 | Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | Dec. 31, 2019 | |
Net sales by geographic region | ||||||
Consolidated sales | $ 30,027,000 | $ 30,027,000 | $ 12,027,000 | $ 73,681,000 | $ 35,745,000 | |
Long-lived assets by geographic region | ||||||
Consolidated total long-lived assets | 4,086,000 | 4,086,000 | 4,086,000 | $ 3,943,000 | ||
Reportable Geographical Components [Member] | ||||||
Net sales by geographic region | ||||||
Consolidated sales | 30,027,000 | |||||
UNITED STATES | ||||||
Long-lived assets by geographic region | ||||||
Consolidated total long-lived assets | 2,642,000 | 2,642,000 | 2,642,000 | 2,450,000 | ||
UNITED STATES | Reportable Geographical Components [Member] | ||||||
Net sales by geographic region | ||||||
Consolidated sales | 24,295,000 | 11,806,000 | 62,461,000 | 35,004,000 | ||
International Member | ||||||
Long-lived assets by geographic region | ||||||
Consolidated total long-lived assets | 1,444,000 | $ 1,444,000 | 1,444,000 | $ 1,493,000 | ||
International Member | Reportable Geographical Components [Member] | ||||||
Net sales by geographic region | ||||||
Consolidated sales | $ 5,732,000 | $ 221,000 | $ 11,220,000 | $ 741,000 |
Note 12 - Related Party Trans_2
Note 12 - Related Party Transactions (Details Textual) $ in Thousands | 9 Months Ended |
Sep. 30, 2020USD ($) | |
Related Party Transaction, Amounts of Transaction | $ 0 |
Note 13 - Leases (Details Textu
Note 13 - Leases (Details Textual) | 3 Months Ended | 9 Months Ended |
Sep. 30, 2020USD ($) | Sep. 30, 2020USD ($) | |
Operating Lease, Right-of-Use Asset | $ 2,501,000 | $ 2,501,000 |
Operating Lease, Liability, Total | 2,550,000 | 2,550,000 |
Finance Lease, Liability, Total | 0 | 0 |
Operating Lease, Expense | $ 201,000 | $ 603,000 |
Operating Lease, Weighted Average Remaining Lease Term (Year) | 3 years 354 days | 3 years 354 days |
Operating Lease, Weighted Average Discount Rate, Percent | 4.28% | 4.28% |
Note 13 - Leases - Future Minim
Note 13 - Leases - Future Minimum Lease Payment (Details) | Sep. 30, 2020USD ($) |
Remaining three months of 2020 | $ 273,000 |
2021 | 1,000,000 |
2022 | 670,000 |
2023 | 676,000 |
Thereafter | 126,000 |
Total future minimum lease payments | 2,745,000 |
Less imputed interest | (195,000) |
Total Lease liabilities | $ 2,550,000 |
Note 14 - Income Taxes (Details
Note 14 - Income Taxes (Details Textual) $ in Millions | 3 Months Ended |
Mar. 31, 2020USD ($) | |
Share-based Payment Arrangement, Expense, Tax Benefit | $ 2 |
Other Tax Expense (Benefit) | $ 1 |