This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Lapolla Reports 2012 Year Results

HOUSTON, March 29, 2013 /PRNewswire/ -- Lapolla Industries, Inc. ("Lapolla") (OTCQB:LPAD), a Houston based global supplier, and manufacturer of spray foam insulation, and equipment designed to reduce energy consumption in the residential and commercial markets, for both new construction and retrofit applications, announces 2012 year results and outlook for 2013.

"The 2012 year was challenging with industry-wide concerns including record high raw material costs, shortages in availability of materials from a force majeure event, and elective reductions in sales through elimination of low margin or generally unfavorable business throughout the year. Lapolla responded decisively to these challenges by hiring a COO to enforce the required shift in focus to improving margins and reducing expenses. We continued to exercise stringent credit criteria and significantly reduced overhead, closing unprofitable locations and eliminating other overhead related expenses. Although this was not enough to offset the earlier quarterly losses, the progress as a result of the aggressive steps was evident.  Margins increased 25% from the first half of 2012 to the second half of 2012, and SG&A for 2012 was reduced by $1.6 Million for an annualized savings of $3.2 Million," said Douglas J. Kramer, CEO and President at Lapolla.

For 2012, Lapolla reported annual sales of $70.4 Million, a decrease of 18.4%, comprehensive loss of $4.4 Million, an increase of 3.9%, and loss per share of $0.04, a decrease of 20%, from 2011, respectively.

Mr. Kramer continued, "Lapolla initiated its first global summit in 2011 which included representatives from 16 countries and those seeds are paying dividends so far in 2013. The uptick in international as well as expected increases in domestic business puts Lapolla back on its aggressive growth track, as we expect sales to grow to record levels in 2013 and beyond.  Nobody can deny growing global consumer awareness about energy efficient foams and coatings and their reductions in energy costs."

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,798.49 -14.90 -0.08%
S&P 500 2,090.11 +1.24 0.06%
NASDAQ 5,127.5250 +11.3820 0.22%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs