Latest news with #JosephA.RiccelliJr.
Associated Press
9 hours ago
- Business
- Associated Press
Innovative Designs Delivers Record Sales Growth and Highest Profitability Level to Date for First 6 Months of 2025 With 265% Increase Year-Over-Year
Superior and Patented Evacuated Cell Insulation Continues to Gain Homebuilding and Remodeling Industry Recognition With Rising Demand PITTSBURGH, PA - June 17, 2025 ( NEWMEDIAWIRE ) - Innovative Designs, Inc. (OTC Pink: IVDN) has filed its financial report for the fiscal second quarter of 2025, ending on April 30th. The Company is pleased to report that continuing revenue growth has pushed the latest results well above previous projections, reaching $796,369 in fiscal Q2 (a 165% increase over fiscal Q2 of 2024). Total revenues for the first 6 months of 2025 reached $1,340,285 (a 265% increase over the total for the same period in 2024). IVDN has now reported profitability for the past three trailing quarters. With this fiscal Q2 filing, the profit level has also increased to a new high for the Company's history with over $240,000 in net income for the first 6 months of 2025 vs. a $41,000 loss at the same point in 2024. About Innovative Designs, Inc. Innovative Designs, Inc. manufactures the Insultex(R) House Wrap and Arctic Armor(R) Line, under the ' label featuring INSULTEX(R). Patented INSULTEX(R) is the thinnest, lightest and warmest insulator in the market today. For more information, please visit: and Disclaimer Certain statements in this press release constitute 'forward-looking' statements as defined by federal law. Such statements are based on assumptions, but there is no assurance that actual outcomes will not be materially different as those implied. Any such statements are made in reliance on the 'Safe Harbor' protections provided under the Private Securities Reform Act of 1995 and are subject to various factors, including the risks and matters discussed in the Company's SEC filings available at CONTACT: Innovative Designs, Inc. Joseph A. Riccelli Jr., CEO 412-799-0350 [email protected] Built Link Solutions, LLC Randy Kimbler, Director of Business Development 616-443-3200 [email protected] View the original release on
Yahoo
01-04-2025
- Business
- Yahoo
Over $1 Million in Revenue With Continued Profitability Projected in the First Half of 2025 for High Demand Product in the Homebuilding Sector from Innovative Designs, Inc. (IVDN)
IVDN's Leading Distributor, Built Link Solutions, is Delivering Increasing Order Flow for Superior Evacuated Cell Home Insulation Product PITTSBURGH, PA - April 1, 2025 (NEWMEDIAWIRE) - Innovative Designs, Inc. (OTC Pink: IVDN) is now able to project that the company will hit another revenue growth milestone, reaching over $1 million in sales revenue for the first two quarters of its fiscal 2025 year which ends on April 30th. This successful trend is also projected to continue the Innovative Designs status as a profitable company which was achieved for the first time at the end of the 2024 fiscal year. Sharply rising demand for the superior and patented Innovative Designs Insultex House Wrap(R), is being fueled by new government building codes calling for continuous insulation and exterior R-Value requirements. For new construction, Insultex House Wrap(R), adds an R-6 moisture barrier membrane that does not need additional insulation boards or other support as with other products from our competitors. This makes Insultex House Wrap(R), the best overall insulation house wrap choice available on the market today. For full details be sure to visit: Much of the rapidly growing sales success Innovative Designs is now receiving can be credited to our leading Distributor, Built Link Solutions, LLC. As part of their active and very effective marketing program, the Built Link Solutions team has exhibited at multiple trade show events in the past months, presenting Insultex House Wrap(R) to a wide range of homebuilding professions and building materials suppliers at every level. Randy Kimbler of Built Link Solutions stated, "We are receiving daily calls and emails from builders and materials suppliers looking for a solution to the new R-5 Continuous Insulation requirement for many states. We can now resolve this increasingly important issue with Insultex House Wrap(R)". Joseph A. Riccelli Jr., CEO of Innovative Designs, commented, "We have 2025 off to unprecedented growth in the entire history of our Company. We are extremely pleased with the escalating order flow for our superior performance vacuum cell Insultex House Wrap(R) product and, of course, must extend our acknowledgement to Built Link Solutions for becoming our leading product distributor. With about one month to go in our fiscal 2nd quarter we are now able to project reaching the impressive $1 million revenue tier for the first half of our fiscal 2025 year and continued profitability for the three trailing quarters. We can also project increased sales and revenue growth in the quarters ahead considering the strong customer response and market trends we see developing. To support this growth, we are moving forward with plans to step up manufacturing and shorten delivery times from our production facilities in Massachusetts and other locations. Everyone on our team is delivering the most positive results for Innovative Designs this year." About Innovative Designs, Inc. Innovative Designs, Inc. manufactures the Insultex(R) House Wrap and Arctic Armor(R) Line, under the " label featuring INSULTEX(R). Patented INSULTEX(R) is the thinnest, lightest and warmest insulator in the market today. For more information, please visit: and statements in this press release constitute "forward-looking" statements as defined by federal law. Such statements are based on assumptions, but there is no assurance that actual outcomes will not be materially different as those implied. Any such statements are made in reliance on the "Safe Harbor" protections provided under the Private Securities Reform Act of 1995 and are subject to various factors, including the risks and matters discussed in the Company's SEC filings available at Innovative Designs, A. Riccelli Jr., CEO412-799-0350Riccellijjr@ Built Link Solutions, LLCRandy Kimbler, Director of Business Development616-443-3200RandyK@ Sign in to access your portfolio
Associated Press
24-03-2025
- Business
- Associated Press
Innovative Designs, Inc. Fiscal First Quarter Results Deliver Over a 700% Increase In Comp Sales, Eclipsing All First Quarter Results by Largest Margin in Company History
Profitability Continues as Demand for Superior Evacuated Cell Home Insulation Expands Rapidly NEWMEDIAWIRE) - Innovative Designs, Inc. (OTC Pink: IVDN) is proud to report that in the Company's 2025 fiscal first quarter, ended January 31st, sales revenues total an all-time record over $540,000 vs. $65,886 for the same period in the previous year. This represents a comp. increase of over 700%. The exact total will be included in the Company's next financial filing with the SEC. These results will continue the Innovative Designs status as a profitable company which was achieved for the first time at the end of the 2024 fiscal year. Strongly rising sales of Insultex House Wrap(R), a patented and superior performance product of Innovative Designs, are responsible for most of the impressive revenue growth that the Company is now experiencing. Because of the sharp and continuing rise in demand for this unparalleled home insulation, Innovative Designs has been working to develop increased production capacity. At this time, we are pleased to report that our main production facility in Massachusetts has been able to substantially accelerate product output. We have also been researching and developing additional production facilities in other parts of the country and this additional production is now also beginning to add to our available supply. Because of these efforts we have made dramatic progress in filling our large backlog of orders for Insultex House Wrap(R) and cut our delivery times down from 6 or 8 weeks to much shorter periods. This improvement in delivery has pleased our existing and new customers to the extent that even faster order flow is coming to us as a result. The surging demand for Insultex House Wrap(R), is being sparked by new government building codes calling for continuous insulation and exterior R-Value requirements. Insultex House Wrap delivers its advantages thanks to its patented vacuum cell structure design. No other product on the market today offers a vacuum cell structure. A vacuum is the best thermal insulation possible and only Insultex(R) incorporates countless evacuated cells. Insultex(R) also provides a moisture barrier and other key benefits. The result is a substantial reachedr new construction, adding an R-6 moisture barrier membrane that does not need additional insulation boards or other support as with other available choices from competitors. Joseph A. Riccelli Jr., CEO of Innovative Designs, commented, 'The financial success that Innovative Designs has reached at this point with the growing performance recognition and successful sales of our unmatched Insultex House Wrap(R), is extremely gratifying. However, we will not be satisfied until the investment community also begins to share in this recognition. To this end, we are now in the process of upgrading the listing status for IVDN shares from the current OTC Pink tier to the higher OTCQB level. This process requires meeting considerable accountability standards as well as making detailed applications and filings which are all being attended to at this time. Additionally, plans are still being made for our upcoming shareholder's meeting which will be an interactive online event designed to better inform the investment community about all that Innovative Designs is delivering, with earnings projections for the balance of 2025 and beyond. I am very much looking forward to hosting this important event. Specific details will be announced soon.' About Innovative Designs, Inc. Innovative Designs, Inc. manufactures the Insultex(R) House Wrap and Arctic Armor(R) Line, under the ' label featuring INSULTEX(R). Patented INSULTEX(R) is the thinnest, lightest and warmest insulator in the market today. For more information, please visit: and Certain statements in this press release constitute 'forward-looking' statements as defined by federal law. Such statements are based on assumptions, but there is no assurance that actual outcomes will not be materially different as those implied. Any such statements are made in reliance on the 'Safe Harbor' protections provided under the Private Securities Reform Act of 1995 and are subject to various factors, including the risks and matters discussed in the Company's SEC filings available at Innovative Designs, Inc. 412-799-0350
Associated Press
03-03-2025
- Business
- Associated Press
Innovative Designs, Inc. Reaches Profitability for First Time by Reporting of Record Sales Results in Fiscal Year 2024, Delivering Almost 300% Revenue Increase vs. Previous Year
Sales of Superior Evacuated Cell Home Insulation Continue to Surge Into the Fiscal First Quarter for 2025 PITTSBURGH, PA - March 3, 2025 ( NEWMEDIAWIRE) - Innovative Designs, Inc. (OTC Pink: IVDN) is extremely pleased to report that the Company has now achieved the key milestone of reaching profitability on the record setting revenue results of its 2024 fiscal year. With the filing of our 10K Annual Statement for the fiscal year ending on October 31, 2024 just posted, IVDN has reported that sales revenues increased to $1,382,733 vs. $347,763 for the 2023 fiscal year. This rapid growth translates to a 298% increase in sales, mostly attributable to the rising demand for our unmatched Evacuated (Vacuum) Cell R-6 Insultex House Wrap. Fiscal fourth quarter sales were even stronger than we anticipated when we issued our projection in December for a year-end total at $1.2 million. Robust sales are currently continuing in the first half of fiscal 2025. We are working on the largest backorder level for Insultex House Wrap(R) that the Company has ever experienced and making progress with our suppliers to accelerate product production rates. Sales of Insultex House Wrap(R) are now benefiting from new government building codes calling for continuous insulation and exterior R-Value requirements. Insultex House Wrap(R) is starting to be recognized as the very best option to satisfy the new requirements in terms of performance, cost effectiveness and ease of installation. Insultex House Wrap delivers its advantages thanks to its patented vacuum cell structure design. No other product on the market today offers a vacuum cell structure. A vacuum is the best thermal insulation possible and only Insultex(R) incorporates countless evacuated cells. Insultex(R) also provides a moisture barrier and other key benefits. The result is a substantial savings for new construction, adding an R-6 moisture barrier membrane that does not need additional insulation boards or other support as with other available choices from competitors. Joseph A. Riccelli Jr., the new CEO of Innovative Designs, stated, 'We have entered a new and much more rewarding stage of our business as demonstrated by the unprecedented sales results reported in our fiscal 2024 year-end financial report that has just been filed. Reaching the turning point of becoming a profitable company is a great achievement that everyone on our team has worked hard at for many years. With the growing success of the superior Insultex House Wrap(R) product line, Innovative Designs is positioned to continue building on the financial success we have now reached throughout 2025 and beyond. I am looking forward to arranging IVDN shareholder's conference in the near future to further expand on the reasons for our success, and plans to increase production to meet the rising demand. Additionally, we will be looking into expanding our marketing and sales options for the IDI Gear Insultex(R) clothing lines. Stay tuned for details on the scheduling of this upcoming IVDN shareholder's conference soon.' About Innovative Designs, Inc. Innovative Designs, Inc. manufactures the Insultex(R) House Wrap and Arctic Armor(R) Line, under the ' label featuring INSULTEX(R). Patented INSULTEX(R) is the thinnest, lightest and warmest insulator in the market today. For more information, please visit: and Certain statements in this press release constitute 'forward-looking' statements as defined by federal law. Such statements are based on assumptions, but there is no assurance that actual outcomes will not be materially different as those implied. Any such statements are made in reliance on the 'Safe Harbor' protections provided under the Private Securities Reform Act of 1995 and are subject to various factors, including the risks and matters discussed in the Company's SEC filings available at Innovative Designs, Inc.
