Industrial Services of America shows profits
Industrial Services of America, Inc., (ISA)
a company that recycles stainless steel, ferrous and non-ferrous
scrap metal, announced financial guidance for the fourth quarter
and fiscal year ending December 31, 2009.
For the fiscal year ending December 31, 2009, ISA expects earnings
of between $1.32 and $1.37 per basic and diluted share on revenues
of approximately $181 million. That compares with fiscal year
2008 earnings of $0.43 per share on revenues of $100 million.
The company expects basic and diluted earnings per share for
the fourth quarter ending December 31, 2009 to be in the range
of $0.31 to $0.36 compared to a loss for the quarter ending December
31, 2008 of $0.69 per basic and diluted share. The loss in the
fourth quarter of 2008 included an operating loss of $0.32 per
share and one-time charges of $0.37 as reported in prior year.
ISA cites significant changes and investment in its business
over the past 18 months that have positioned the company to participate
in higher margin segments of the metals recycling business.
These investments include:
- Acquisition of Venture Metals and the hiring of its executives;
- Expansion of ISA’s primary metal recycling facility in
Louisville that more than doubles its usable acreage;
- Road improvements on the thoroughfare and entrance to the
Company’s primary recycling facility that increase the Company’s
ability to process and receive shipments of raw metal; and
- Completion of installation of a TSC 80 SXS auto shredder
that significantly increases metal processing capacity and end-product