HOUSTON–(BUSINESS WIRE)–Lapolla Industries, Inc. (“Lapolla” or the “Company”) (PINK: 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 months ended March 31, 2016.
First Quarter 2016 Highlights:
- Total Sales increased by 18% compared to the same period in 2015
- Gross Profit increased 58% compared to the same period in 2015
- Net Income increased 159% compared to the same period in 2015
- Adjusted EBITDA increased 2,057% compared to the same period in 2015
“The first quarter is indicative of the positive direction of our Company on all fronts,” stated Douglas J. Kramer, Chief Executive Officer and President of Lapolla. “We remain steadfast on growing sales and focused on operational and manufacturing efficiencies to drive our bottom line to build shareholder value.”
Mr. Kramer continued, “Lapolla continues to innovate technology and refine support for customers and consumers alike. While much of the industry is cutting back on contractor support, Lapolla offers the most qualified technical services in the industry, including an engineering department to provide needed guidance to engineers and architects. This depth and capability will help ensure Lapolla as the preferred supplier for quality Spray Polyurethane Foam.”