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:
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Gross Profit Increased by 7.55% to 20.5% from the same period in 2014
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Total Sales Increased by 8.6% to $17.4 million as compared to the same
period in 2014.
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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
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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.
Copyright Business Wire 2015