Alpha Pro Tech plunges on lower face mask, shield sales as demand weakens
04/08/2021 17:41
** Shares of the face mask and shield maker APT.A fall as
much as 23% to $7.90 in the third straight session of losses
** Q2 sales from APT's disposable protective segment halved
to $8 million, total net sales also fell 30% to $17.8 million
** Demand for co's face masks, shields such as the N-95
masks, tempered in the quarter after a surge in the same period
last year due to the COVID-19 pandemic urn:newsml:reuters.com:*:nGNX4gzRmD
** APT says sales for disposable protective garments in the
coming quarters could be negatively affected due to historically
high inventory levels
** Co expects gross profit margin to be negatively affected
in 2021 as need for face masks, shields slows down
** Including session losses, stock has fallen about 24.1%
YTD vs a 225% rise in 2020
(Reporting by Bhanvi Satija)
((Bhanvi.Satija@thomsonreuters.com;))