HOUSTON--(BUSINESS WIRE)--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 second quarter ended June 30, 2015.
Second Quarter 2015 Highlights:
- Gross Profit increased 14.7% compared to the same period in 2014
- Coating sales increased by 49.6% compared to the same period in 2014
- Total Sales increased by 4.6% compared to the same period in 2014
“Second quarter of 2015 reflected our focus on growing the more profitable segments of our business and driving our bottom line through product mix, continued growth and buying power,” stated Doug Kramer, CEO and President of Lapolla Industries. “We will continue to enhance our growth by adding more sales staff and channels, especially in markets where we feel there is more market share opportunity for Lapolla.”
“With continuous focus on market penetration in both residential and commercial building envelope, and the technology differentiation of our fourth generation advanced technology, Lapolla is well positioned for the 3rd quarter,” continued Kramer.
For further information regarding Lapolla’s financial results as of June 30, 2015, including Adjusted EBITDA, and a reconciliation of Adjusted EBITDA to net income or loss for the six months ended June 30, 2015 and June 30, 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.