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IPII earnings look great:

Imperial Announces 2005 First Quarter Results, Eighth Consecutive Profitable Quarter, And Opening of New Building Materials Distribution Facility
PR Newswire - May 13, 2005 09:43

POMPANO BEACH, Fla., May 13, 2005 /PRNewswire-FirstCall via COMTEX/ -- Imperial Industries, Inc. (Nasdaq: IPII) announced today the results of operations for the quarter ended March 31, 2005.

(Logo: http://www.newscom.com/cgi-bin/prnh/20050330/FLW029LOGO )

The Company generated net income of $831,000, or $.33 per diluted share, in the first quarter of 2005, compared to net income of $362,000, or $.15 per diluted share for the same period in 2004, a 120% increase in per share earnings. Net sales in the first three months of 2005 were $16,592,000, an increase of 39.2% over net sales of $11,923,000 for the same period in 2004. The increase in sales was primarily attributable to continuing strong industry construction demand for Company products. Higher sales volume and greater operating efficiencies produced the improved first quarter results in 2005.

In addition, the Company opened a new distribution facility in St. Augustine, Florida in May 2005 in a continuing effort to increase market share in the Company's rapidly growing trade area. The Company now has eleven building materials distribution facilities and is evaluating the establishment of other distribution facilities in selected markets within the Southeastern United States.

S. Daniel Ponce, Imperial's Chairman of the Board, stated, "The 2005 first quarter results reflect the continued high level of demand for our products in the construction industry and the eighth consecutive profitable quarter for the Company. The Company has completed the installation of the equipment for the plant modernization project for its Winter Springs, Florida (Greater Orlando Area) manufacturing facility, which is expected to impact operating efficiencies by the end of the second quarter. We also believe the new St. Augustine distribution facility will become an important addition to the Company. We remain committed to profitable growth and are evaluating other strategic measures to enhance shareholder value."