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Lapolla Industries Reports Financial Results for the Third Quarter

Lapolla Industries Reports Financial Results for the Third Quarter
Ended September 30, 2016

Climate-Friendly FOAM-LOK® 4G Spray Foam Insulation
Taking Hold of Market Share

Houston, TX, October 31, 2016 – Lapolla Industries, Inc. (“Lapolla” or the “Company”)(LPAD), a Houston-based publicly traded manufacturer and global supplier of high performance, energy efficient building products, today announced its financial results for the third quarter ended September 30, 2016.

Third Quarter 2016 Highlights:

  • Sales for the nine months ended September 30, 2016 increased by 8% to $61.7 million compared to the same period in 2015
  • Net Income from the nine months ended September 30, 2016 was $4.0 million, an increase of $5.3 Million compared to the same period in 2015
  • Adjusted EBITDA for the nine months ended September 30, 2016 was $7.1 million, an increase of $4.8 million compared to the same period in 2015
  • Paid off $5.8 million debt with Enhanced Capital and $2.7 million revolver loan with Bank of America with new line of credit
  • New $15 million line of credit with Bank of America reduced average cost of capital from 9.7% to 3.0% resulting in annual interest savings of $583,000
  • Reduced debt by $5.7 million for the nine months ended September 30, 2016 resulting in annual interest savings of $382,000
  • Overall interest savings of $965,000 on an annual basis

“Lapolla’s continued positive financial performance correlates directly to enhanced sales both domestically and internationally of our high performance building envelope and roofing product lines,” stated Douglas J. Kramer, Chief Executive Officer and President of Lapolla. “Additionally, we believe our market share growth is tied to the environmental stewardship we have driven through our energy efficient spray polyurethane foam roofing and insulation offerings, as well as our company being recognized as the first spray foam manufacturer to bring to market a spray foam system that reduces Global Warming Potential (GWP) and eliminates Ozone Depletion Potential (ODP), in line with, and as a partner to, the White House in its Climate Action Plan,” concluded Mr. Kramer.

The company’s Chief Financial Officer, Jomarc Marukot added, “In the third quarter, Lapolla achieved strong revenue and profitability. We remain focused on delivering value to our shareholders. The reductions in our debt and cost of capital will contribute significantly to our bottom line, improve our cash flow, and further strengthen our balance sheet.”

For further information regarding Lapolla’s financial results as of September 30, 2016, including Adjusted EBITDA, and a reconciliation of Adjusted EBITDA to net income or loss for the three and nine months ended September 30, 2016 and 2015, respectively (see below), refer to the “Management’s Discussion and Analysis of Financial Condition and Results of Operations” 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. (LPAD) is a global supplier and manufacturer of spray polyurethane foam for insulation and roofing applications, reflective roof coatings and equipment. Based in Houston, Texas, the company’s building envelope and roofing product solutions are designed to reduce energy consumption in the building environment, across the residential, commercial and industrial sectors, in both new construction and retrofits. Visit Lapolla Industries at www.lapolla.com.
FORWARD LOOKING STATEMENTS
Certain statements in this press release that are forward-looking and not statements of historical fact are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are generally identifiable by the use of words like “may,” “will,” “should,” “could,” “expect,” “anticipate,” “estimate,” “believe,” “intend,” or “project” or the negative of these words or other variations on these words or comparable terminology. The reader is cautioned not to put undue reliance on these forward-looking statements, as these statements are subject to numerous factors and uncertainties outside of our control that can make such statements untrue, including, but not limited to, adverse economic conditions and their effect on demand for foams and coating; adverse effects of fluctuations in sales; intense competition from competitors that are better established and have significantly greater resources than us; our dependence on a few large suppliers for a large portion of materials required for production and sales of our products; loss or departure of key personnel; market acceptance of our existing and new products; unanticipated increases in raw material prices or disruptions in supply; restrictive loan covenants and/or our ability to repay or refinance debt under our credit facilities; operating margin risk due to competitive pricing and operating efficiencies, supply chain risk, material, labor or overhead cost increases, interest rate risk and commodity risk; the fact that our chairman controls a majority of our combined voting power, and may have, or may develop in the future, interests that may diverge from those of other stockholders; future sales of large blocks of our common stock, which may adversely impact our stock price; and the liquidity and trading volume of our common stock. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company’s filings with the Securities and Exchange Commission (SEC), including the Company’s Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q. Investors and security holders are urged to read these documents free of charge on the SEC’s web site at http://www.sec.gov. The Company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise.

Investor Relations:
Michael T. Adams, EVP
Phone: 281-219-4700
Email: IR@lapolla.com

Results of Operations

Summary
The following table presents selected financial and operating data derived from the audited financial statements of the Company as of the dates and for the periods indicated. In addition, the table presents our unaudited non-GAAP financial measures, EBITDA and Adjusted EBITDA, and includes our reconciliation to net income or loss, its most directly comparable financial measure calculated and presented in accordance with GAAP. The table is presented in thousands. All financial information for September 30, 2016 and September 30, 2015, is derived from the Company’s unaudited financial statements, as disclosed in the Company’s Quarterly Report on Form 10-Q, for the three and nine months ended September 30, 2016, filed with the SEC.

lapolla-reports-third-quarter-ended-9-30-16-results-final-2

Non-GAAP Financial Measures
To supplement our financial statements presented on a GAAP basis, we disclose non-GAAP measures as EBITDA and Adjusted EBITDA because management uses these supplemental non-GAAP financial measures to evaluate performance period over period, to analyze the underlying trends in its business, and to establish operational goals and forecasts that are used in allocating resources. In addition, we believe many investors use these non-GAAP measures to monitor the Company’s performance. Our presentation includes these non-GAAP financial measures, and a reconciliation of EBITDA and Adjusted EBITDA to the GAAP measures most directly comparable thereto. The GAAP measure most directly comparable to EBITDA and Adjusted EBITDA is net income or loss. The non-GAAP financial measures of EBITDA and Adjusted EBITDA should not be considered as an alternative to net income or loss or any other measure of financial performance or liquidity presented in accordance with GAAP. EBITDA and Adjusted EBITDA are not presentations made in accordance with GAAP and have important limitations as analytical tools. You should not consider EBITDA or Adjusted EBITDA in isolation or as substitutes for analysis of our results as reported under GAAP. Because EBITDA and Adjusted EBITDA exclude some, but not all, items that affect net income and is defined differently by different companies, our definitions of EBITDA and Adjusted EBITDA may not be comparable to similarly titled measures of other companies.

EBITDA
We define EBITDA as net income or loss before interest, income taxes, depreciation and amortization of other intangible assets.

Adjusted EBITDA
Adjusted EBITDA is defined as EBITDA increased by total share based compensation included in net income or loss. The Company believes that presenting EBITDA and Adjusted EBITDA, in addition to the corresponding GAAP financial measures, provides investors greater transparency to the information used by management for financial and operational decision-making, and allows investors to see the Company’s results “through the eyes” of management. We further believe that providing this information assists investors in understanding the Company’s operating performance and the methodology used by management to evaluate and measure such performance.

 

We recognize that the usefulness of EBITDA and Adjusted EBITDA as an evaluative tool may have certain limitations, including:

  • EBITDA and Adjusted EBITDA do not include interest expense. Because we have borrowed money in order to finance our operations, interest expense is a necessary element of our costs and impacts our ability to generate profits and cash flows. Therefore, any measure that excludes interest expense may have material limitations;
  • EBITDA and Adjusted EBITDA do not include depreciation and amortization of other intangible assets expense. Because we use capital assets, depreciation and amortization of other intangible assets expense is a necessary element of our costs and ability to generate profits. Therefore, any measure that excludes depreciation and amortization of other intangible assets expense may have material limitations;
  • EBITDA and Adjusted EBITDA do not include tax expenses. Because the payment of taxes is a necessary element of our costs, any measure that excludes tax expense may have material limitations;
  • EBITDA and Adjusted EBITDA do not reflect capital expenditures or future requirements for capital expenditures or contractual commitments;
  • EBITDA and Adjusted EBITDA do not reflect changes in, or cash requirements for, working capital needs; and
  • Adjusted EBITDA does not include share-based compensation expense.

Lapolla Industries Closes on New Line of Credit

Lapolla Industries Closes on New Line of Credit
New Facility and Reduction of Debt Provides Substantial Savings

Houston, TX, September 12, 2016 – Lapolla Industries, Inc. (“Lapolla” or the “Company”) (OTCQX: LPAD), a Houston-based global supplier and manufacturer of spray polyurethane foam insulation, roofing foam, reflective roof coatings, and equipment for their application, announced today that by significantly reducing outstanding debt and obtaining a $15 million line of credit with Bank of America, N.A. on September 7, 2016, the Company will be able to reduce interest expense by 78%.

Douglas J. Kramer, CEO and President of Lapolla stated, “During the first half of 2016, we reduced our debt by $5.9 million, reducing interest by $373,000 on an annual basis. We have also amended our Loan and Security Agreement with Bank of America which now provides the Company with a $15 million line of credit that has a substantially lower interest rate and very favorable terms. This allowed us to pay off our higher interest Term Notes, which reduced our average cost of capital from 9.7% to 3.0%, resulting in further interest savings of $583,000 on an annual basis. The overall interest savings will be $936,000 on an annual basis.”

“This is a significant milestone for Lapolla and is the direct result of our corporate commitment to success and financial diligence. The reduction of debt and lower cost of capital will provide significant value to Lapolla and our shareholders while supporting our continued growth. We have been extremely fortunate to have had Enhanced Capital and Bank of America as our partners over the years and we are very appreciative of their support.” concluded Mr. Kramer.

Lapolla’s Chief Financial Officer, Jomarc C. Marukot added, “The Agreement with Bank of America provides the Company with greater flexibility and significantly reduces interest expense, this will have a positive impact on cash flow and increase net income, further strengthening the Company’s balance sheet.”

About Lapolla Industries, Inc.

Lapolla Industries, Inc. is a global supplier and manufacturer of spray polyurethane foam insulation, roofing foam, reflective roof coatings, and equipment for their application 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

Certain statements in this press release that are forward-looking and not statements of historical fact are forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are generally identifiable by the use of words like “may,” “will,” “should,” “could,” “expect,” “anticipate,” “estimate,” “believe,” “intend,” or “project” or the negative of these words or other variations on these words or comparable terminology. The reader is cautioned not to put undue reliance on these forward-looking statements, as these statements are subject to numerous factors and uncertainties outside of our control that can make such statements untrue. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company’s filings with the Securities and Exchange Commission (SEC), including the Company’s Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q. Investors and security holders are urged to read these documents free of charge on the SEC’s web site at http://www.sec.gov. The Company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise.

Investor Relations:
Michael T. Adams, EVP
Phone: 281-219-4700
Email: info@lapolla.com

The Unintended Results of Doing the Right Thing

by Doug Kramer, President & CEO for Entrepreneur Magazine

Click here to view the article in Entrepreneur Magazine

Typically, a company’s success is commonly measured by financial indicators, such as growth in revenue, market share and profitability. But what happens when you apply a different standard of measurement to the success of your company?

Environmental responsibility is one such standard that some organizations are now striving to achieve. Rather than measure success in financial terms, environmental responsibility assesses whether a company is doing the right thing for the community and environment.

So another question to ask is: Can doing the right thing create potential business opportunities? And can these opportunities – in addition to financial measurements — be another indicator of organizational success?

Companies are often driven by, and toward, financial results. But environmental responsibility is often associated with higher costs.

Because of that, many companies do not view sustainability practices as a measurement of success, which makes it uncommon for companies to do the right thing for the environment. There usually needs to be an expectation that the environmental effort will also benefit the business in some way.

When our team began to consider making environmentally positive changes to its product line, we believed there would be a benefit to our business.

In a previous post, I mentioned that we expected our environmental stewardship to positively influence our bottom line, as we had conducted a lot of research and identified ways to achieve both savings and greater product yield through this innovation.

These assumptions proved to be correct. But what our team did not presume was that there would be additional positive results beyond those directly affecting the environment and our bottom line. We’ve been pleasantly surprised.

First and foremost, environmental stewardship has the power to showcase the organization as a true leader. If you are the first in your industry to uniquely employ sustainability measures, that effort will be recognized by your clients and industry.

Depending on how you are driving that stewardship, you may also showcase innovation of other kinds via technology advancements, efficiencies and new ideas. And you may be able to achieve and drive additional product or service enhancements through your environmental stewardship efforts.

Driving sustainability practices within your company may lead to something else you haven’t even thought of – improved employee morale. When workers know that their company is influencing positive change in the world, they tend to feel good about working for that organization. In essence, they are proud to be part of it. This in turn will likely lead to increased loyalty, good word-of-mouth referrals, PR and even improved performance.

In addition to the positive influence on your company and its team members, you may also be able to forge a path within your industry. This can showcase your organization as the catalyst for positive change industry-wide, garnering improved recognition for the company and even attracting new talent, who want to be part of the movement you’ve started.

When you decide as an organization to employ sustainability measures, it also puts you in the unique position to stay ahead of regulators and to be a model of inspiration to them, rather than a subject that needs to be policed. As such, you become an example of what to do, rather than what not to do, spotlighting the organization as one that is both progressive and responsible.

In 2014, in parallel with our commitment to re-engineer the chemistry of our product line to eliminate ozone depletion potential and reduce global warming impacts, we were invited to participate in the President’s Climate Action Plan Executive Roundtable at the White House alongside both the U.S. Environmental Protection Agency (EPA), Department of Energy and a short list of CEOs from some of the country’s most recognized companies.

The goal of the roundtable was to lead the discussion toward real actions that would “green” American made products in an effort to protect the climate.

Our invitation to participate in this prestigious discussion was a catalyst that allowed us to help drive environmental change in both its industry and the business community at-large, prior to regulations being instated which would force those changes upon us. In essence, we were able to drive positive change, rather than be driven reluctantly by regulations.

We had never expected to have a seat at a discussion of this caliber, and we never would have had we not been the first in our industry sector to drive the environmental stewardship we believed was truly needed. Our product innovations led us to not only being invited to participate in the President’s Climate Action Plan roundtable discussions two years in a row, but it also resulted in the EPA showcasing Lapolla as an environmental leader with both domestic and international business audiences.

For example, in 2015, the EPA and State Department brought a delegation from India to our headquarters to educate them on the company’s innovations and the positive environmental impacts garnered from them.

In short, if you drive sustainability measures and practices in your company and industry, it is not only possible to positively impact your bottom line, but also to garner surprising results.

Whether these include an elevated reputation in the business community, improved employee morale or being showcased by regulators as a model of best practices, you might be surprised what positives await you through environmental stewardship.

Lapolla Industries Announces Upgrade to OTCQX®

Lapolla Industries Announces Upgrade to OTCQX

HOUSTON–(BUSINESS WIRE) — Lapolla Industries, Inc. (“Lapolla” or “Company”) (LPAD), a Houston-based global supplier of energy saving products, today announced it has qualified and started trading on the OTCQX® Best Market, operated by OTC Markets Group, effective July 1, 2016.

The OTCQX market is reserved for established, investor-focused U.S. and global companies that meet high financial standards, provide timely news and disclosure to investors, and are sponsored by a professional third-party advisor.

Douglas J. Kramer, President and CEO of Lapolla, stated, “Moving up to OTCQX is an important strategic step in our investor outreach commitment. Being traded on OTCQX will allow for greater exposure, accessibility, and liquidity from the investment community as we execute on our global strategy to deliver our energy saving products to key markets around the world.”

Lapolla is the first manufacturer, globally, to commercialize a third party tested and approved wall foam insulation system that uses an HFO cutting edge technology, offering an environmentally friendly, zero ODP and ultra low GWP. Lapolla’s FOAM-LOK 2000-4G (4th Generation) not only delivers environmental benefits that are 99.9 percent better than today’s most commonly-used blowing agents, the 4G now provides enhanced insulation values and yield from previous generation technology, bringing economic and bottom-line value to contractors and consumers.

Kramer continued, “Our global network of independent distribution and installing contractors continues to grow. The technology is at a tipping point of becoming mainstream around the world, providing Lapolla an opportunity to lead the transition from traditional insulation systems to advanced technology, literally changing the way in which we design and construct buildings, with an outcome of tighter, stronger and more energy efficient structures. Lapolla’s 4G advanced technology enters the global markets well ahead of eventual mandates by the US EPA and other foreign government mandates for change. These changes come as a result of the globally recognized initiatives, such as the Montreal Protocol, requiring reductions in greenhouse gases. Many countries around the world, from Europe, Scandinavia, the Middle East and South America, have already set required timelines for change, some currently implementing tariffs on old technology to encourage quicker adoption.”

As a result of Lapolla’s leadership in driving change, Kramer was invited to the White House to participate in the Executive Roundtable of the President’s Climate Action Plan. Kramer is now a regular participant at this annual event at the White House and Lapolla has since been named a Partner to the White House in the President’s Climate Action Plan. Kramer commented, “It’s been gratifying to get this recognition and to help lead such an important charge while knowing that the ultimate consumer value is so profound.”

Ty Pennington, from two time Emmy award winning Extreme Makeover – Home Edition (broadcasted on ABC), is the celebrity spokesman for Lapolla. Kramer said, “Driving consumer awareness and pull through is our goal as all consumers are looking for ways to gain not only energy savings, but also high performance homes.” Pennington commented, “This is personal for me. My mother struggled for many years with asthma and we are all aware of the growing epidemic levels of respiratory sensitivities. Lapolla’s 4G helps create better air quality by eliminating unwanted, unconditioned air, from entering the building. These airborne pollutants are one of the growing reasons for the surge in asthma among children. I have Lapolla 4G technology in my home,” said Pennington.

“At the end of the day, the clear global strategy, the strong management team, the 4G advanced technology, the global network, the consumer messaging, and the financial results, will drive shareholder value,” Kramer concluded.

U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for Lapolla on www.otcmarkets.com.

About Lapolla Industries, Inc.

Lapolla Industries, Inc. is a global supplier and manufacturer of spray polyurethane foam for insulation and roofing applications, reflective roof coatings and equipment. Based in Houston, Texas, the company’s building envelope and roofing product solutions are designed to reduce energy consumption in the built environment, across the residential, commercial and industrial sectors, in both new construction and retrofits. Visit Lapolla Industries 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 as of date hereof. Company undertakes no duty to update any forward-looking statement.

 

Investor Relations Contact:

Michael T. Adams, EVP

Tel: (281) 219-4700

Email: info@lapolla.com

wall and roof insulation for homes

Lapolla’s Spray Foam Insulation Receives Approval from Meritage Homes

The Groundbreaking 4th Generation Eco-Friendly Insulation Leads
The Charge For Energy Efficient Home Insulation

Houston, TX, May 6, 2015 – Lapolla Industries, Inc., in its commitment to being the standard for environmentally friendly technology, has been approved by Meritage Homes, for use in its residential construction projects.

Lapolla was the first systems house in the industry to provide both open and closed cell technology to the market. The FoamLOK 500, open cell foam was also the first “non-mix” formula that allows for better consistency and ease of use for the installers. Lapolla continues to innovate, becoming the first in the world to develop and commercialize spray foam insulation utilizing Honeywell’s Solstice Liquid Blowing Agent in its FOAM-LOK 2000 4G spray foam. This state-of-the-art home insulation delivers environmental benefits with an ultra-low Global Warming Potential of 1, which is 99.9 percent lower than today’s most commonly used blowing agent, HFC-245fa, and zero Ozone Depletion Properties, while enhancing its insulation performance.

Recently, Lapolla partnered with Honeywell and Purdue University to incorporate its FOAM-LOK 2000 4G wall foam insulation into a 1920’s vintage home at Purdue University’s ReNEWW House, a renovated home that achieves net-zero energy usage.

“The entire approach to achieving zero energy homes isn’t just an idea any longer,” said Doug Kramer, President & CEO of Lapolla Industries, Inc. “Lapolla insulation adds value to the environment and homeowners worldwide. We’re proud to be a supplier of spray foam insulation to Meritage Homes, who is the innovator in high performance home building.”

“Meritage recognizes that building residential communities that meet and exceed standards resets the bar higher for what homeowners should expect from their homes.” added CR Herro, Vice President of Environmental Affairs at Meritage Homes. “We created a new standard in energy-efficient home building, and carefully partner with suppliers to ensure the highest quality components.”

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.

Corporate Contacts:

Douglas J. Kramer, President/CEO
Harvey L. Schnitzer, COO
Michael T. Adams, CGO
Jomarc Marukot, CFO
Lapolla Industries, Inc.
Phone: 281-219-4100
Email: info@lapolla.com

Lapolla Industries Selects Delahunt Group and 9.8 Group for Government Affairs to Maximize Opportunities in Favorable Regulatory Environment

Board of Directors Chairman Richard Kurtz Completes Equity Conversion for $1.48MM in Common Stock

Houston, TX – December 3, 2014 – Today Lapolla Industries, Inc. announced it had retained the services of Delahunt Group and 9.8 Group to assist in government affairs outreach. Lapolla, a Houston-based manufacturer and global supplier of spray polyurethane foam insulation, reflective roof coatings, and equipment designed to reduce energy consumption in the residential, industrial and commercial markets, initiated the engagement of Delahunt Group and 9.8 Group at an opportune time due to favorable regulatory environment for its low-HFC foam insulation system, the first of its kind in the marketplace.

In September, Lapolla’s pioneering efforts in eco-friendly, energy saving building materials were noted by the White House when the company was named an official private sector partner of President Obama’s Climate Action Plan. As part of that program, Lapolla pledged to shift its full product line to low-HFC by 2016, while among other Executive Actions, President Obama issued an order for all federal agencies to consider and show preference to low-HFC alternatives during their procurement process. As a result of Lapolla’s first-mover status in the industry, Lapolla remains the only company today with its next generation third party tested and approved wall foam system that uses the Solstice® Liquid Blowing Agent available for use. Solstice® LBA is nonflammable, has received EPA approval under the Significant New Alternatives Policy (SNAP) Program and is not a volatile organic compound.

“Our investments in innovative, next generation products are positioned to bear fruit in meaningful ways,” said Douglas Kramer, Chief Executive Officer of Lapolla Industries. “This partnership with Delahunt Group and 9.8 Group will allow us to access new customers, better articulate our value proposition to government audiences, and maximize the opportunity presented by the current regulatory environment.”

Additionally, Lapolla announced Richard J. Kurtz, Chairman of Lapolla’s Board of Directors and principal stockholder, made an investment in the Company by exchanging $1,485,212 principal and accrued interest of a promissory note made by the Company to Mr. Kurtz. The purchase price for each Lapolla share is based on the closing price of the Company’s common stock as of December 1, 2014 ($0.38 per share). The number of shares purchased as a result of this equity conversion is 3,908,453 shares.

“The execution of this equity conversion is an indicator of my continued confidence in the underlying fundamentals and long-term potential of Lapolla,” said Richard J. Kurtz, Chairman of the Board and principal shareholder. “Whether innovative products, a favorable regulatory landscape, or the continuing shift of market trends towards our core product lines, Lapolla is particularly well-positioned for meaningful future growth.”

Lapolla’s foam products include spray foam insulation for residential and commercial perimeter walls, crawl spaces and attic space applications. The company also supplies spray foam and elastomeric coatings for low slope residential and commercial roofing. Lapolla supplies polyurethane as an adhesive for board stock insulation to roofing substrates for commercial and industrial applications as well as sundry items.

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 residential, industrial and commercial markets, for both new construction and retrofit applications. More information at www.lapolla.com.

Forward Looking Statements
Statements made in this press release that are not historical facts constitute “forward-looking statements”. 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.

Lapolla Contacts:
Douglas J. Kramer, CEO and President
Michael T. Adams, EVP
(281) 219-4700

Media Relations Contact:
Phil Walotsky
MWW
(212) 704-9727
pwalotsky@mww.com

Which Areas of My Home Can I Insulate?

Adding insulation to the attic, walls facing the exterior of the home, under the floors, exterior and interior walls, the basement, and the crawl space(s) are the best sections of your home to notice a substantial improvement on lowering energy consumption.

The Attic
Installing Lapolla’s spray foam insulation on the bottom of the roof deck in your attic is beneficial in many ways. Since hot air rises, without spray foam, the summer temperatures will make it uncomfortably hot and winters frigid. Adding open-cell or closed cell spray foam insulation will protect your attic from air escaping and keep it comfortable throughout the year.

Exterior Walls vs. Interior Walls
Interior Walls are great to use open-cell spray foam since it acts as both an air sealant and a sound barrier. Closed-Cell spray foam insulation is a denser in structure and is a great air and water barrier. Closed-Cell spray foam insulation is often used in both roofing and wall insulation improvements.

The Basement & Crawl Spaces
Insufficient home insulation can cause drafts. If the basement and crawl spaces lack insulation, homeowners will notice this draft through a number of ways including cold floors, and noticeable moisture and/or mold buildup.

Request a free spray foam insulation quote for your new home or to make improvements or call 888-4-LAPOLLA

 

Lapolla Industries is the First Nationally to Incorporate Honeywell’s Solstice® Liquid Blowing Agent for Spray Foam Wall Insulation

Installation at Purdue University Demonstrates Lapolla’s
Expansion of Environmentally Advantaged Offerings with Solstice LBA

Houston, TX, July 28, 2014 – Lapolla Industries, Inc. (“Lapolla”) (OTCQB: 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 announced today that it is the first company nationally to develop the technology and commercially release Honeywell’s new Solstice® Liquid Blowing Agent (LBA) in spray foam insulation wall system in the USA.

Solstice LBA allows Lapolla closed-cell spray foam insulation to expand and contribute to the foam’s superior insulating properties. Solstice LBA is a next-generation blowing agent from Honeywell that not only improves foam performance, but also delivers environmental benefits including enhanced energy efficiency. Solstice LBA has an ultra-low global warming potential of 1, which is 99.9 percent lower than today’s most commonly-used blowing agent, HFC-245fa, a hydrofluorocarbon, while retaining its insulating performance. Solstice LBA is nonflammable, has received EPA approval under the Significant New Alternatives Policy (SNAP) Program and is not a volatile organic compound.

“At Lapolla, we are environmentally conscious and incorporate green alternatives into our offerings,” said Doug Kramer, President and Chief Executive Officer of Lapolla Industries. “We are pleased to be the first in the U.S. to incorporate Solstice Liquid Blowing Agent into our spray foam for walls, and we are confident that our foam, which has always been cutting edge, is fully credentialed and now one step above the rest of our peers. The product will soon be available globally.”

The next high profile installation of Lapolla’s leading edge wall system formulated with Solstice LBA will take place at Purdue University in West Lafayette, Indiana. Lapolla will use its FOAM-LOK spray foam blown with Solstice LBA to retrofit an off-campus 1920’s vintage home that researchers are transforming into a net-zero energy, water and waste structure and live-in laboratory. It marks the first time Solstice LBA will be employed in a wall system of a university in the United States. Researchers from Purdue University and Whirlpool Corporation will be monitoring the home’s energy usage after the spray foam wall installation to demonstrate its efficiency.

Lapolla’s foam products include spray foam insulation for residential and commercial perimeter walls, crawl spaces and attic space applications. The Company also supplies spray foam and elastomeric coatings for low slope residential and commercial roofing. Lapolla supplies polyurethane as an adhesive for board stock insulation to roofing substrates for commercial and industrial applications as well as sundry items.

“Solstice LBA provides builders and contractors with significant performance and environmental benefits in closed-cell spray foam wall and roof systems at costs that are competitive with other blowing agents,” said Laura Reinhard, Honeywell’s global business manager for spray foam. “Our collaboration with Lapolla allows us to provide wall-to-wall benefits for commercial and residential architects, builders and renovators. Lapolla’s best in class spray foam coupled with their national and international reach makes them an ideal partner to launch Solstice LBA for use in foam wall systems.”

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.

About Honeywell
Honeywell (www.honeywell.com) is a Fortune 100 diversified technology and manufacturing leader, serving customers worldwide with aerospace products and services; control technologies for buildings, homes and industry; turbochargers; and performance materials. Based in Morris Township, N.J., Honeywell’s shares are traded on the New York, London, and Chicago Stock Exchanges. For more news and information on Honeywell, please visit www.honeywellnow.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.

Corporate Contacts:
Douglas J. Kramer, CEO
Harvey L. Schnitzer, COO
Michael T. Adams, CGO
Charles A. Zajaczkowski, CFO
Lapolla Industries, Inc.
Phone: 281-219-4100
Email: info@lapolla.com

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On Set With Ty Pennington

Ty Pennington, our newest Spokesperson and friend, joined Lapolla today for a Day 1 video shoot in The Woodlands, TX.

Make sure you visit our social sites to view all the behind-the-scenes pics and to get the latest of our campaign with Ty Pennington and spray foam insulation developments.

Lapolla on Facebook | Twitter | Instagram | Pinterest

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Ty Pennington and Doug Kramer On Set

Ty Pennington’s First To The Future Home – Episode 9: Storm Resistant Construction

THE NEXTGEN "FIRST TO THE FUTURE HOME" SERIES

Host: Ty Pennington

Episode 9 - Storm Resistant Construction
Aired June 17, 2014
Lapolla is a Product Partner of NGHTV


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Photo Credit: TyPennington.com

NextGenTV's "First To The Future" series hosted by Ty Pennington aired Episode 9 on Storm Resistant Construction. Ty talks about a quality roof system and the home becoming one solid structure to withstand the heavy winds of the northern Florida coast.

The home features a continuous load path to strengthen the structural frame, which connects the entire home together. The storm resistant windows feature laminated glass with a wind speed rating of 171 mph. The roof has a 140 mph wind warranty with a class 4 hail rating.

Watch more of NGHTV's "First To The Future" series with Ty Pennington.