Lapolla Industries, Inc. (“Lapolla”) (LPAD), a Houston based 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, announces Third Quarter of 2013 results.
“The third quarter 2013 results demonstrate our continued commitment to margin control and building shareholder value,” said Douglas J. Kramer, CEO and President at Lapolla.
For the third quarter of 2013, Lapolla reported sales of $18,074,101, an increase of 2.6%, $297,178, a decrease of 56%, and loss per share of $0.00, a decrease of 100%, from the third quarter of 2012, respectively.
Mr. Kramer continued, “Sales increased quarter over quarter, but most importantly gross profit was up substantially. Both our short term and long term strategies are in full play and both are expected to lead to improved future results. International sales opportunities continue to come to fruition with the outlook being very positive.”
For the third quarter of 2013, reported foam segment sales were $15,299,778, an increase of 6.6%, and foam segment profit was $1,909,559, an increase of 79.4%, while coatings segment sales were $2,774,323, a decrease of 15.1%, and coatings segment profit was $1,136,106, an increase of 87.2%, compared to the third quarter of 2012.
For further information regarding risks, uncertainties, and other factors associated with Lapolla's business, please 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 on the World Wide Web at www.lapollaindustries.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 Company about its business. All information herein is as of date hereof. Company undertakes no duty to update any forward-looking statement.
Douglas J. Kramer, CEO
Harvey L. Schnitzer, COO
Michael T. Adams, CGO
Charles A. Zajaczkowski, CFO