Restoration Builders Letter to Shareholders

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Jul 01, 2020, 08:38 ET

SCOTTSDALE, Ariz., July 1, 2020 /PRNewswire/ -- Restoration Builders, Inc. ("Restoration Builders" or "The Company") the multi-region residential and commercial contractor focused on exterior roofing repair today issued a press release with the following letter to shareholders.

Dear Fellow Shareholders:

Restoration Builders is on the cusp of entering its next phase of growth, one which I believe will set new standards for quality and professionalism in our industry. I have chosen to issue this letter to lay out some of the objectives our management team has been working toward the past few months and the ways in which we intend to evolve as we move further into 2020.

During the past quarter, The Company intentionally paused its aggressive acquisition program to focus on integrating into a consolidated unit. This includes building infrastructure and procedures as well as working to increase organic growth.

I am pleased to inform you that we are on schedule to complete the implementation of our enterprise business management system. Although no system at this level is rolled-out without challenges and a steep learning curve, our team has stepped up to the challenge. This sophisticated use of technology will allow for the deep-dive financial analysis and high level reporting which is often found at Fortune 500 companies.

A key factor in creating the efficient, cost lean and growth dominant business we have envisioned will come from gathering, understanding, and managing our production metrics. The Company is building the ability to drill down on nearly every factor of our sales and production cycles, providing multiple advantages to our overall operations.

I am confident this system will create a number of advantages for The Company, which will ultimately result in sharper profitability. I'm very proud of how our core group has come together to create long term value for our shareholders.

While building the necessary processes and procedures to operate as a cohesive unit, we have logged record sales increases in many of our regions. To highlight a couple of our achievements, year-to-date unaudited sales within our Texas South region have increased 71% over last year's same period sales. Additionally, unaudited sales in our Indiana region have increased 57% over last year's same period sales.

As the COVID-19 situation continues to unfold, concern for the health and safety of our team members, our customers and our communities remains our first priority. There has been negative impact from the pandemic. As an essential business, we responded by quickly pivoting our work force to operate within local business restrictions. I believe it is critical that our company continue to provide essential services to keep homes and buildings operating safely.

During the third quarter, The Company will launch the next phase of its growth. We have initial agreements signed with several key residential and hybrid roofing repair companies. The Company intends to stay focused on this important and stable sector of the industry and grow sales both organically and through carefully planned acquisitions.

In closing, we intend to stay true to the company's primary focus, helping our neighbors and protecting families through the repair and maintenance of a home's primary source of shelter, the roof over our heads.

About Restoration Builders, Inc.

Restoration Builders is a residential and commercial contractor operating within the United States. Their mission is to protect, restore and build properties, strengthen families and support the community. They are committed locally and ready to serve wide scale for disaster response. To learn more, please visit their website at www.restorbuilders.com

For further information please contact:

Janet Carnell Lorenz
[email protected]
(425) 999-6508

SOURCE Restoration Builders