LaPolla Reports First Quarter Results
15 Maio 2006 - 5:23PM
PR Newswire (US)
LaPolla Delivers 145% Sales Growth HOUSTON, May 15
/PRNewswire-FirstCall/ -- LaPolla Industries, Inc. ("LaPolla" or
the "Company") (AMEX:LPA), today announced sales of $6,042,115 for
the quarter ended March 31, 2006, a 145% increase over sales of
$2,457,653 for the same period in the prior year. Operating income
for the first quarter was $31,940 and net income was $327,008.
Diluted net income per share for the quarter was $0.006 compared to
diluted net loss per share of $0.031 in the prior comparable
period. "We've continued our sales growth momentum during the first
quarter and increased sales 145% over the prior year's first
quarter," said Michael T. Adams, CEO of LaPolla. "Delivering value
to our shareholders and customers are our top priorities for the
rest of the year," concluded Mr. Adams. Foam sales increased
$2,056,935, or 182%, for the first quarter of 2006 compared to the
first quarter of 2005. Coatings sales increased $1,173,750, or
129%, for the current quarter compared to the prior comparable
quarter. Paints, sealants, and adhesives sales each increased
$152,661, $72,175, and $4,032, respectively, for the quarterly
period ended March 31, 2006 compared to the quarterly period ended
March 31, 2005. Equipment sales increased $151,864, or 628%, while
all other sales decreased $26,954, or 42%, for the first quarter of
2006 compared to the first quarter of 2005. Douglas J. Kramer,
President and COO stated, "Our sales and marketing efforts remain
aggressive and are aimed at broadening our national sales presence
to support our longer term goals. The greatest sales growth
occurred in our foam, coatings, and equipment businesses and we
expect this trend to continue throughout 2006." Outlook for 2006
Management offers the following guidance for the quarter ending
June 30, 2006: -- Sales are expected to be in the range of $7.5
Million and $8.0 Million. -- Operating income is expected to be in
the range of $0.25 Million and $0.45 Million. Management offers the
following guidance for the full fiscal year ending December 31,
2006: -- Sales are expected to be in the range of $35 Million and
$38 Million. -- Operating income is expected to be in the range of
$4.1 Million and $4.4 Million. About LaPolla Industries, Inc.
LaPolla Industries, Inc. is a national manufacturer and distributor
focused on several basic segments: Coatings, Foam, Paints,
Sealants, Adhesives, Equipment, and All Other. Within these
business segments, LaPolla has invested resources in a variety of
products targeting commercial and industrial and residential
applications in the roofing, construction and paint industries.
Forward-Looking Statements Statements made in this press release
that are not historical facts constitute "forward-looking
statements" within the meaning of Section 27A of the Securities Act
of 1933, Section 21 of the Securities Exchange Act of 1934 and the
Private Securities Litigation Reform Act of 1995. These forward-
looking statements are necessarily estimates reflecting the best
judgment of senior management and express the Company's opinions
about trends and factors which may impact future operating results.
You can identify these and other forward-looking statements by the
use of words such as "may," "will," "should," "expects," "plans,"
"anticipates," "believes," "estimates," "predicts," "intends,"
"potential," "continue," or the negative of such terms, or other
comparable terminology. Such statements rely on a number of
assumptions concerning future events, many of which are outside of
the Company's control, and involve risks and uncertainties that
could cause actual results to differ materially from opinions and
expectations. Any such forward- looking statements should be
considered in context with the various disclosures made by the
Company about its businesses including, without limitation, the
risk factors described below. Although the Company believes its
expectations are based on reasonable assumptions, judgments, and
estimates, forward-looking statements involve known and unknown
risks, uncertainties, contingencies, and other factors that could
cause the Company or the Company's industries' actual results,
level of activity, performance or achievement to differ materially
from those discussed in or implied by any forward-looking
statements made by or on the Company and could cause the financial
condition, results of operations, or cash flows to be materially
adversely affected. In evaluating these statements, some of the
factors that you should consider include the following: financial
position and results of operations, cash position and cash
requirements, accounting estimates, doubtful accounts, inventories,
and warranties; operations, supply chain, quality control, and
manufacturing supply, capacity, and facilities; products, price of
products, product lines, and product and sales channel mix;
relationship with customers, suppliers and strategic partners;
credit facilities; industry trends and responses to these trends;
sources of competition; and outcome and effect of current and
potential future litigation. All information in this release is as
of March 31, 2006. The Company undertakes no duty to update any
forward-looking statement to conform the statement to actual
results or changes in the Company's expectations. 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. Copies of LaPolla's press
releases and additional information about LaPolla is available on
the World Wide Web at http://www.lapollaindustries.com/ . For more
information, financial analysts, investors and press only: Andrew
J. Kaplan Barry Kaplan Associates (732) 747-0702 (t) (732) 758-1837
(f) Company Contacts: Michael T. Adams, CEO Douglas J. Kramer,
President and COO John A. Campbell, CFO (281) 219-4700 (t) Website:
http://www.lapollaindustries.com/ DATASOURCE: LaPolla Industries,
Inc. CONTACT: Andrew J. Kaplan of Barry Kaplan Associates,
+1-732-747-0702, +1-732-758-1837 - fax, ; or Michael T. Adams, CEO,
or Douglas J. Kramer, President and COO, or John A. Campbell, CFO,
all of LaPolla Industries, Inc., +1-281-219-4700 Web site:
http://www.lapollaindustries.com/
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