Houston, Texas - In a 15 March letter to shareholders, Douglas Kramer, Lapolla Industries Inc. ceo and president predicted that 2010 will be "an unprecedented year for Lapolla and its shareholders," and said the spray foam (SPF) insulation, coatings, and equipment supplier has "several advantages against its basic materials competitors that allow us to prosper in spite of the nation's current economic troubles."
LaPolla's SPF insulation can save homeowners up to 40 percent or more on their energy bills, Kramer said, adding that implementation of the US Economic Stimulus Package has increased the past tax credit for home improvement from 10 percent to 30 percent of the cost and increased the maximum amount of the credit from $500 to $1500, "greatly benefitting Lapolla and other green building material solutions."
LaPolla says its products provide home owners and business owners with energy savings for the lifetime of their building, while saving tax dollars. "Our market for providing clean, energy saving, high quality insulation at an affordable price has further solidified Lapolla's leading position," Kramer said.
"Our spray foam insulation products provide a cleaner, more cost effective solution to rising energy costs and increasing greenhouse gas emissions, helping to not only insulate and seal the 'shell' of a structure but also aid in preventing air infiltration and reducing our energy consumption overall," the LaPolla chief added.
"Due to volatile energy costs, we have seen compounded revenue growth of 82 percent over the previous five years," Kramer noted.
During 2009, LaPolla further expanded its growing brand recognition and grew its market share, said Kramer, describing the firm's participation in the ABC television show Extreme Makeover, and a series of Lapolla and Airtight commercials on over 55 networks across the country.
In 2009, LaPolla opened a headquarters in Toronto, Canada, and in April 2009, received Canadian Product Approval and CCMC Approval "which allows us market access with our Foam-LOK spray polyurethane insulation systems throughout Canada.
In late April 2009, the group also received ICC-ES Approval "for our half pound spray foam insulation for use in wall cavities, floor and ceiling assemblies, as well as attic and crawl space applications, further building our product pipeline and expanding our market share."