Lapolla Industries Reports First Quarter 2015 Results
By Business Wire News
By Business Wire News
Lapolla Industries, Inc.(“Lapolla”) (OTCQB:LPAD), a Houston-based global supplier and manufacturer of spray polyurethane foam insulation, reflective roof coatings, and equipment, today announced financial results for the three month period ended March 31, 2015.
First Quarter 2015 Highlights:
- Gross Profit Increased by 7.55% to 20.5% from the same period in 2014
- Total Sales Increased by 8.6% to $17.4 million as compared to the same period in 2014.
- Lapolla Spokesman, Ty Pennington, was the keynote speaker at the annual Spray Foam Convention and highlighted Lapolla’s smart energy saving products to maximize a homeowner’s investment
- Foam Segment Sales increased by 9.9% to $15.4 million as compared to the same period in 2014.
“First quarter revenues of 2015 reflected our focus on foam insulation growth in the US residential markets,” stated Doug Kramer, CEO and President of Lapolla Industries. “The increase in demand stemmed from our energy saving awareness campaigns featuring Ty Pennington, educating residential and commercial building owners on how to achieve sustainable long-term energy savings, and increased momentum in the market around a transition to Spray Foam insulation away from traditional products and old technology.”
“The domestic and international markets have been very receptive to Lapolla’s state-of-the-art FOAM-LOK 2000-4G spray foam insulation which provides, a higher R-value, an increased yield and a more eco-friendly solution utilizing the most current low GWP technology,” continued Kramer.
For further information regarding Lapolla’s financial results as of March 31, 2015, including Adjusted EBITDA, and a reconciliation of Adjusted EBITDA to net income or loss for the three months ended March 31, 2015 and March 31, 2014, and risks, uncertainties, and other factors associated with Lapolla’s business, refer to the “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Risk Factors” sections of Lapolla’s SEC filings, including, but not limited to, its annual report on Form 10-K and quarterly reports on Form 10-Q, available at www.lapolla.com.
About Lapolla Industries, Inc.
Lapolla Industries, Inc. is a global supplier, and manufacturer of spray polyurethane foam insulation, reflective roof coatings, and equipment, designed to reduce energy consumption in the residential, industrial and commercial markets, for both new construction and retrofit applications. More information is available at www.lapolla.com.
Forward Looking Statements
Statements made in this press release that are not historical facts constitute “forward-looking statements” pursuant to Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and Private Securities Litigation Reform Act of 1995. Any such forward-looking statements should be considered in context with various disclosures made by the Company about its business. All information herein is as of date hereof. Company undertakes no duty to update any forward-looking statement.
Lapolla Industries, Inc.
Douglas J. Kramer, 281-219-4700