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Industrial Services of America, Inc. Announces 2010 Preliminary Revenues
On Wednesday January 5, 2011, 8:00 am EST
LOUISVILLE, Ky.--(BUSINESS WIRE)-- Industrial Services of America, Inc. (NASDAQ:IDSA - News) today announced that, although complete financial results for 2010 are not yet available, based on preliminary figures 2010 revenues will be in excess of $340 million. This is an 88% increase from 2009 revenues of $181 million. Revenues in 2008 were $100 million. As ISA moves forward into 2011, the company looks to continue its growth and improve its profitability. ISA expects to announce complete 2010 financial results in March, 2011.
ISA’s 2010 SEC filings are available for review at the Securities and Exchange Commission web site at http://www.sec.gov/edgar/searchedgar/companysearch.html.
About ISA
Headquartered in Louisville, Kentucky, Industrial Services of America, Inc., is a publicly traded company whose core business is buying, processing and marketing scrap metals and recyclable materials for domestic users and export markets. Additionally, ISA offers commercial, industrial and business customers a variety of programs and equipment to efficiently manage waste. More information about ISA is available at www.isa-inc.com.
This news release contains forward-looking statements that involve risks and uncertainties that could cause actual results to differ from predicted results. Specific risks include fluctuations in the price of recycled materials, varying demand for waste managing systems, equipment and services, competitive pressures in the waste managing systems and equipment, competitive pressures in the waste managing business, and loss of customers. Further information on factors that could affect ISA's results is detailed in ISA's filings with the Securities and Exchange Commission. ISA undertakes no obligation to publicly release the results of any revisions to the forward-looking statements.
Contact:
Industrial Services of America, Inc., Louisville
Harry Kletter or Alan Schroering, 502-366-3452
hklet@isa-inc.com or aschroering@isa-inc.com
http://www.isa-inc.com/
I am currently back in. Traded a few times.
Actually just pulled my confirms: Traded it 9 times. My best stock of 2010. Unbelievably, I made money 8 times. My only loser was taken on 9/23/10 and it was for only $2596.09. My biggest winner was taken on 8/9/10. Had made the purchase on 4/27/10, prior to the split.
Honestly, I did not realize IDSA had been this good for me until I just pulled the confirms, getting prepared for tax returns.
It has been perfect for my rules. My lowest purchase was $11.25 6/21/10 and my highest sale was 18.50, made on 8/10/10.
Thanks to you, I made my first purchase on 4/20/10. Actually got 6 confirmation during the day to fill my order. Charged commission only once. -:)
Two rules are the reason I did so well on IDSA. Sell after a turn down and never ride a winner to a loser. How I wish I could always follow my own rules! [only got caught that once].
I talk with Mr Kletter fairly ofter but I just traded on the pps. He did just announce what he thought would be 2010 sales. Went up from about $180 mil in 09 to about $340 mil in 2010. Should produce some good earnings figures, I expect.
I follow all your transactions but I really prefer $10-$25 ones.
Again, thank you KING!!!! which you are to me. -:)
Industrial Services of America, Inc. Announces Third Quarter 2010 Earnings
On Wednesday November 10, 2010, 8:00 am
LOUISVILLE, Ky.--(BUSINESS WIRE)-- Industrial Services of America, Inc. (NASDAQ:IDSA - News) today announced financial results for its third quarter ended September 30, 2010. Revenue for the third quarter of 2010 was $76.6 million compared with $80.0 million for the same period in 2009. Net income for the quarter was $1.9 million, or $0.28 per diluted share, compared with $2.2 million, or $0.37 per diluted share, for the third quarter of 2009. Diluted shares outstanding increased to 6,835,480 from 5,864,585 diluted shares in the third quarter of 2009.
Key Highlights for the Third Quarter Ending September 30, 2010
* Ferrous shipment volumes increased 90% quarter-over-quarter, resulting primarily from ongoing improvements in shredder efficiency
* The Company began the installation of an upgrade to its downstream non-ferrous recovery system, designed to increase yields and profit margins
* Industry veteran Daniel Gascoyne joined ISA as Executive Vice President to lead the Company’s Non-Ferrous Division
* Non-Ferrous shipment volumes were 13% higher than shipment volumes in the second quarter
* ISA’s Alloys division continued to perform well with respect to profit margins and capacity
Key Highlights for the Nine Months Ending September 30, 2010
* Revenues up 70% year-over-year
* Net Income up 61% year-over-year
* Diluted EPS up 36% year-over-year, despite an increase in shares outstanding
Harry Kletter, Chairman of the Board of Industrial Services of America, commented, “When we look at our earnings, our Alloys, Ferrous and Non-Ferrous divisions all performed solidly during the quarter.”
The third quarter of 2010 was the seventh consecutive quarter of profitability for ISA, following the dramatic downturn in the industry and the global economy in the fourth quarter of 2008.
Mr. Kletter said, “Scrap recycling is not a monthly or quarterly business. We buy and sell scrap in response to customer orders, but we can’t predict the timing. Sometimes we have firm orders that don’t ship until the following quarter. But we have grown our business every year, and 2010 is no different.”
Mr. Kletter commented, “In addition, I’d like to express how proud we are to have been recognized by Forbes as number 8 on its list of America’s 100 Best Small Companies. This type of national recognition validates ISA’s prominence as one of the leading performers in its class of public companies. We remain focused on continuing this strong performance.”
Mr. Kletter encourages interested parties to listen to ISA’s earnings call (information below) and attend ISA’s presentation at The Wall Street Analyst Forum, being held at The University Club in New York City on November 11, 2010.
Conference Call to Discuss Third Quarter 2010 Results
ISA will host a conference call on Wednesday, November 10, 2010 at 10:00 AM Eastern time to discuss third quarter results. Participants can access the call by dialing:
U.S. and Canada Dial-in Number: 877-354-6067
Conference ID#: 19675769
Callers should identify the Industrial Services of America earnings results call.
A replay will be available two hours after the call through midnight November 6, 2010 by calling:
800-642-1687 or 706-645-9291.
ISA’s 2010 SEC filings are available for review at the Securities and Exchange Commission web site at http://www.sec.gov/edgar/searchedgar/companysearch.html.
About ISA
Headquartered in Louisville, Kentucky, Industrial Services of America, Inc., is a publicly traded company whose core business is buying, processing and marketing scrap metals and recyclable materials for domestic users and export markets. Additionally, ISA offers commercial, industrial and business customers a variety of programs and equipment to efficiently manage waste. More information about ISA is available at www.isa-inc.com.
This news release contains forward-looking statements that involve risks and uncertainties that could cause actual results to differ from predicted results. Specific risks include fluctuations in the price of recycled materials, varying demand for waste managing systems, equipment and services, competitive pressures in the waste managing systems and equipment, competitive pressures in the waste managing business, and loss of customers. Further information on factors that could affect ISA's results is detailed in ISA's filings with the Securities and Exchange Commission. ISA undertakes no obligation to publicly release the results of any revisions to the forward-looking statements.
FINANCIAL RESULTS AND
SUPPLEMENTAL FINANCIAL INFORMATION
FOLLOW
INDUSTRIAL SERVICES OF AMERICA, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
THREE MONTHS ENDED SEPTEMBER 30, 2010 AND 2009
(UNAUDITED)
2010
2009
Revenue from services $ 1,761,589 $ 1,552,696
Revenue from product sales 74,788,711 78,416,778
Total revenue 76,550,300 79,969,474
Cost of goods sold for services 1,687,588 972,874
Cost of goods sold for product sales 67,493,739 72,483,157
Total cost of goods sold 69,181,327 73,456,031
Selling, general and administrative expense 3,884,059 2,606,476
Income before other income (expense) 3,484,914 3,906,967
Other income (expense)
Interest expense (353,338 ) (350,589 )
Interest income 6,491 5,619
Gain on sale of assets 21,893 42,137
Other income (expense) 44,408 (2,111 )
(280,546 ) (304,944 )
Income before income taxes 3,204,368 3,602,023
Income tax provision 1,281,747 1,440,809
Net income $ 1,922,621 $ 2,161,214
Basic earnings per share $ 0.28 $ 0.37
Diluted earnings per share $ 0.28 $ 0.37
Weighted shares outstanding:
Basic 6,784,917 5,850,633
Diluted 6,835,480 5,864,585
INDUSTRIAL SERVICES OF AMERICA, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
NINE MONTHS ENDED SEPTEMBER 30, 2010 AND 2009
(UNAUDITED)
2010
2009
Revenue from services $ 4,831,239 $ 5,720,398
Revenue from product sales 238,702,989 137,623,313
Total revenue 243,534,228 143,343,711
Cost of goods sold for services 4,474,040 4,388,861
Cost of goods sold for product sales 217,654,093 124,305,531
Total cost of goods sold 222,128,133 128,694,392
Selling, general and administrative expense 10,649,352 7,756,020
Income before other income (expense) 10,756,743 6,893,299
Other income (expense)
Interest expense (1,021,949 ) (702,255 )
Interest income 23,798 27,779
Gain on sale of assets 256,041 53,109
Other income (expense) 40,509 (42,787 )
(701,601 ) (664,154 )
Income before income taxes 10,055,142 6,229,145
Income tax provision 4,022,057 2,491,658
Net income $ 6,033,085 $ 3,737,487
Basic earnings per share $ 0.92 $ 0.67
Diluted earnings per share $ 0.91 $ 0.67
Weighted shares outstanding:
Basic 6,566,879 5,565,593
Diluted 6,610,879 5,570,294
INDUSTRIAL SERVICES OF AMERICA, INC.
SUPPLEMENTAL FINANCIAL INFORMATION
Reconciliation of EBITDA (1):
Three Months ending Sept 30, Nine Months ending Sept 30,
2010
2009
2010
2009
Net Income 1,922,621 2,161,214 6,033,085 3,737,487
Interest expense 353,338 350,589 1,021,949 702,255
Income taxes 1,281,747 1,440,809 4,022,057 2,491,658
Depreciation 950,809 795,135 2,681,078 2,024,559
Amortization - - - -
EBITDA (1)
4,508,515 4,747,747 13,758,169 8,955,959
Industrial Services of America, Inc. to present at the Morgan Keegan 2010 Industrial/Transportation Conference
On Monday September 13, 2010, 2:15 pm
LOUISVILLE, Ky.--(BUSINESS WIRE)--Industrial Services of America, Inc. (NASDAQ: IDSA), a company that buys, processes and markets ferrous and non-ferrous metals and other recyclable commodities for domestic users and export markets and offers programs and equipment to help businesses manage wastes, today announced it will present at the Morgan Keegan 2010 Industrial/Transportation Conference at the Drake Hotel in Chicago on Wednesday, September 15, 2010 at 10:15 AM Central Daylight Time.
About ISA
Headquartered in Louisville, Kentucky, Industrial Services of America, Inc., is a publicly traded company whose core business is buying, processing and marketing scrap metals and recyclable materials for domestic users and export markets. Additionally, ISA offers commercial, industrial and business customers a variety of programs and equipment to efficiently manage waste. More information about ISA is available at www.isa-inc.com.
This news release contains forward-looking statements that involve risks and uncertainties that could cause actual results to differ from predicted results. Specific risks include fluctuations in the price of recycled materials, varying demand for waste managing systems, equipment and services, competitive pressures in the waste managing systems and equipment, competitive pressures in the waste managing business, and loss of customers. Further information on factors that could affect ISA's results is detailed in ISA's filings with the Securities and Exchange Commission. ISA undertakes no obligation to publicly release the results of any revisions to the forward-looking statements.
Key words: recycling, scrap, ferrous, non-ferrous materials, waste management, international markets, global markets.
Contact:
Industrial Services of America, Inc.
Harry Kletter or Alan Schroering, 502-366-3452
hklet@isa-inc.com or aschroering@isa-inc.com
http://www.isa-inc.com/
Industrial Services of America, Inc. Reports Second Quarter 2010 Results
August 09, 2010 08:00 AM Eastern Daylight Time
LOUISVILLE, Ky.--(BUSINESS WIRE)--Industrial Services of America, Inc. (NASDAQ: IDSA), a company that buys, processes and markets ferrous and non-ferrous metals and other recyclable commodities for domestic users and export markets and offers programs and equipment to help businesses manage wastes, today reported financial results for the second quarter ending June 30, 2010.
“We need the increased credit facilities in place for opportunities in our overall recycling business.”
Highlights:
* Total revenue for the second quarter 2010 increased 137% to $92.8 million from last year second quarter
* Net income for the second quarter 2010 increased 155% to $2.3 million from last year second quarter
* New credit facilities of $48.8 million to accommodate continued growth
Harry Kletter, Chairman and Chief Executive Officer commented, “The quarter ended with much stronger than expected orders, but we continue to be cautious as certain economic indicators suggest that the current recovery may be slowing.” The company recently announced that its credit facilities had been increased to $48.8 million from $28.8 million. Brian Donaghy, President stated, “We need the increased credit facilities in place for opportunities in our overall recycling business.”
For the second quarter of 2010:
* Total revenue was $92.8 million in 2010, compared with $39.1 million in 2009 primarily due to an increase in the volume of ferrous shipments of 164.0%. (Shredder operations began July 1, 2009.)
* Net income was $2,347,200 (basic and diluted earnings of $0.36 per share) in 2010, compared with $922,210 (basic and diluted earnings of $0.17 per share) in 2009. Basic and diluted weighted average shares outstanding were 6,462,513 and 6,489,908 in 2010 and 5,477,844 for both in 2009 (adjusted for split).
* Earnings before interest, taxes, depreciation and amortization (EBITDA) for 2010 was $5,117,653 compared with EBITDA of $2,365,976 for 2009. (See attached reconciliation.)
For the first six months of fiscal 2010:
* Total revenue was $167.0 million, compared with $63.4 million in 2009 primarily due to an increase in the volume of ferrous shipments of 175.3%. (Shredder operations began July 1, 2009.)
* Net income was $4,110,464 (basic earnings of $0.64 per share and diluted earnings of $0.63 per share), compared with net income of $1,576,273 (basic and diluted earnings of $0.29 per share) in 2009. Basic and diluted weighted average shares outstanding were 6,456,053 and 6,474,903 in 2010 and 5,420,709 for both in 2009 (adjusted for split).
* Earnings before interest, taxes, depreciation and amortization (EBITDA) for 2010 were $9,249,654 compared with EBITDA of $4,208,212 for 2009. (See attached reconciliation.)
Other Information:
ISA will host a conference call on Monday, August 9, 2010 at 2:00 p.m. Eastern Daylight Time to discuss its earnings results for the quarter ended June 30, 2010 and to provide an update on business developments.
The conference call can be accessed by dialing:
U.S. and Canada Dial-in Number: 877-354-6067
International Dial-in Number: 706-758-1711
Conference ID# 90249476
Callers should identify the Industrial Services of America earnings results call.
Harry Kletter, the Company’s 83 year old founder and Chairman of the Board, through his various holdings, for estate and tax purposes, has sold a small portion of his shares and may from time to time sell additional shares. He also pays certain advisors with shares of his ISA stock. Mr. Kletter stated, "I am fully committed to the future of ISA as the Company continues to seek out additional strategic growth opportunities to invest in."
ISA’s 2010 SEC filings are available for review at the Securities and Exchange Commission web site at http://www.sec.gov/edgar/searchedgar/companysearch.html.
About ISA
Headquartered in Louisville, Kentucky, Industrial Services of America, Inc., is a publicly traded company whose core business is buying, processing and marketing scrap metals and recyclable materials for domestic users and export markets. Additionally, ISA offers commercial, industrial and business customers a variety of programs and equipment to efficiently manage waste. More information about ISA is available at www.isa-inc.com.
This news release contains forward-looking statements that involve risks and uncertainties that could cause actual results to differ from predicted results. Specific risks include fluctuations in the price of recycled materials, varying demand for waste managing systems, equipment and services, competitive pressures in the waste managing systems and equipment, competitive pressures in the waste managing business, and loss of customers. Further information on factors that could affect ISA's results is detailed in ISA's filings with the Securities and Exchange Commission. ISA undertakes no obligation to publicly release the results of any revisions to the forward-looking statements.
Key words: recycling, scrap, ferrous, non-ferrous materials, waste management, international markets, global markets.
FINANCIAL RESULTS AND
SUPPLEMENTAL FINANCIAL INFORMATION
FOLLOW
INDUSTRIAL SERVICES OF AMERICA, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
THREE MONTHS ENDED JUNE 30, 2010 AND 2009
(UNAUDITED)
2010 2009
Revenue from services $ 1,534,517 $ 1,522,134
Revenue from product sales 91,280,445 37,602,180
Total revenue 92,814,962 39,124,314
Cost of goods sold for services 1,436,049 1,153,059
Cost of goods sold for product sales 83,625,249 33,820,184
Total cost of goods sold 85,061,298 34,973,243
Selling, general and administrative expense 3,564,271 2,439,883
Income before other income (expense) 4,189,393 1,711,188
Other income (expense)
Interest expense (339,642 ) (213,161 )
Interest income 9,478 6,917
Gain on sale of assets 49,500 7,222
Other income 3,270 24,851
(277,394 ) (174,171 )
Income before income taxes 3,911,999 1,537,017
Income tax provision 1,564,799 614,807
Net income $ 2,347,200 $ 922,210
Basic earnings per share $ 0.36 $ 0.17
Diluted earnings per share $ 0.36 $ 0.17
Weighted shares outstanding:
Basic 6,462,513 5,477,844
Diluted 6,489,908 5,477,844
INDUSTRIAL SERVICES OF AMERICA, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
SIX MONTHS ENDED JUNE 30, 2010 AND 2009
(UNAUDITED)
2010 2009
Revenue from services $ 3,069,650 $ 4,167,702
Revenue from product sales 163,914,278 59,206,535
Total revenue 166,983,928 63,374,237
Cost of goods sold for services 2,786,452 3,415,987
Cost of goods sold for product sales 150,160,354 51,822,374
Total cost of goods sold 152,946,806 55,238,361
Selling, general and administrative expense 6,765,293 5,149,544
Income before other income (expense) 7,271,829 2,986,332
Other income (expense)
Interest expense (668,611 ) (351,666 )
Interest income 17,307 22,160
Gain on sale of assets 234,148 10,972
Other expense (3,899 ) (40,676 )
(421,055 ) (359,210 )
Income before income taxes 6,850,774 2,627,122
Income tax provision 2,740,310 1,050,849
Net income $ 4,110,464 $ 1,576,273
Basic earnings per share $ 0.64 $ 0.29
Diluted earnings per share $ 0.63 $ 0.29
Weighted shares outstanding:
Basic 6,456,053 5,420,709
Diluted 6,474,903 5,420,709
Industrial Services of America, Inc.
Supplemental Financial Information
Reconciliation of EBITDA (1):
Three Months ending
June 30,
Six Months ending
June 30,
2010
2009
2010
2009
Net Income 2,347,200 922,210 4,110,464 1,576,273
Interest expense 339,642 213,161 668,611 351,666
Income taxes 1,564,799 614,807 2,740,310 1,050,849
Depreciation 866,012 615,798 1,730,269 1,229,425
Amortization - - - -
EBITDA (1) 5,117,653 2,365,976 9,249,654 4,208,212
I understand that. I just wanted you to know how much I appreciate you putting me on it. My two biggest winners have come from you and I thank you.
I follow your every post.
Posted by: MikeDDKing Date: Wednesday, July 21, 2010 9:53:44 AM
In reply to: P K G who wrote msg# 50 Post # of 55
I don't have any IDSA right now
==========================
Seems pretty straight-forward to me.
As I said previously, I don't hold IDSA at present.
It has been a long, long time since I made as much money as this week, thanks to you MISTER KING. I went almost all in on IDSA. What a week! I like IDSA, big time.
Have not added but I plan to start that Monday. From my prior posts, you will note that I said I would start adding shares in the $15-$16 area. Will use my buying power to accumulate. My rule is to keep buying as long as it keeps going up. Will bail on a significant downturn.
The question I must answer is do I step aside just prior to the Q earnings report. Usually there is selling on good news, as you know. About 2.5 weeks now before reporting. I really don't know of any rule to follow here
You have any thoughts on this?
Thank you.
I don't have any IDSA right now but have been in and out of it several times each time at a profit. I do like the other stock you mentioned as a speculative buy but let's not discuss it here as it is off-topic.
Thanks MIKEDDKING for this one. I am loaded with IDSA because of you. I did not sell, however, when you did because I talked with the company and was satisfied regarding the insider selling. This, IMO, is a company that could be the "Waste Management" of the scrap business.
Did sell a small portion this AM. Looking at JBIIE here. Your thoughts?
Industrial Services of America, Inc. Announces Second Quarter Financial Guidance
On Wednesday July 21, 2010, 8:00 am EDT
LOUISVILLE, Ky.--(BUSINESS WIRE)--Industrial Services of America, Inc. (NASDAQ: IDSA - News), a company that buys, processes and markets ferrous and non-ferrous metals and other recyclable commodities for domestic users and export markets and offers programs and equipment to help businesses manage wastes, today announced updated financial guidance for the second quarter ending June 30, 2010.
For the second quarter ending June 30, 2010, ISA expects earnings to be in the range of $.33 to $.38 per basic and diluted share on revenues in the range of $91 - $95 million. That compares with second quarter 2009 earnings of $.17 per share (split-adjusted) on revenues of $39.1 million. Sales guidance for the quarter ending June 30, 2010 will exceed the high end of our previous guidance. This was due to a stronger than expected final week of the quarter.
Harry Kletter, CEO and founder of ISA states, "We have been very successful in our business expansion during the past two years and we will continue to look for new opportunities. While some economic indicators are suggesting a moderate slowdown in the economic recovery, we believe that the long term prognosis is still very promising."
The recently announced specialty alloys division is now fully operational in its 150,000-square foot building which is on adjoining property to the stainless and non-ferrous operations.
ISA’s 2010 SEC filings are available for review at the Securities and Exchange Commission web site at http://www.sec.gov/edgar/searchedgar/companysearch.html.
About ISA
Headquartered in Louisville, Kentucky, Industrial Services of America, Inc., is a publicly traded company whose core business is buying, processing and marketing scrap metals and recyclable materials for domestic users and export markets. Additionally, ISA offers commercial, industrial and business customers a variety of programs and equipment to efficiently manage waste. More information about ISA is available at www.isa-inc.com.
This news release contains forward-looking statements that involve risks and uncertainties that could cause actual results to differ from predicted results. Specific risks include fluctuations in the price of recycled materials, varying demand for waste managing systems, equipment and services, competitive pressures in the waste managing systems and equipment, competitive pressures in the waste managing business, and loss of customers. Further information on factors that could affect ISA's results is detailed in ISA's filings with the Securities and Exchange Commission. ISA undertakes no obligation to publicly release the results of any revisions to the forward-looking statements.
Contact:
Industrial Services of America, Inc.
Harry Kletter or Alan Schroering, 502-366-3452
hklet@isa-inc.com or aschroering@isa-inc.com
http://www.isa-inc.com/
IDSA was added to the Russell Microcap Index:
http://www.russell.com/indexes/membership/Reconstitution/Reconstitution_changes.aspx
Metals Recycler Industrial Services Jumps On 2Q Revenue View
Last Update: 6/24/2010 11:05:17 AM
DOW JONES NEWSWIRES
Industrial Services of America Inc. (IDSA) expects second-quarter revenue to more
than double from a year earlier, sending shares rallying.
The Kentucky-based recycler of various scrap metals rose 10% to $11.51 in recent
trading. The stock is up 81% so far this year and has nearly tripled in the past
12 months.
Industrial Services said the second quarter "is progressing very well," and it
projected revenue of $82 million to $86 million, compared with $39.1 million a
year earlier.
In May, Industrial Services said its first-quarter revenue more than tripled and
profit soared as the company said it expected worldwide demand for scrap metals
to remain strong amid improvement in the global economy and growth of emerging
markets.
The company in recent years has expanded and upgraded its facilities as well as
made acquisitions.
-By Nathan Becker, Dow Jones Newswires; 212-416-2855; nathan.becker@dowjones.com;
(END) Dow Jones Newswires
June 24, 2010 11:05 ET (15:05 GMT)
Industrial Services of America, Inc. (IDSA) Issues Second Quarter Revenue
Guidance
LOUISVILLE, Ky., Jun 24, 2010 (BUSINESS WIRE) -- Industrial Services of America,
Inc. (IDSA), a company that recycles stainless steel, ferrous and non-ferrous
scrap metal today announced revenue guidance for the second quarter ending June
30, 2010.
The second quarter is progressing very well and the company expects revenues to
be in the range of $82 - $86 million for the quarter compared with $39.1 million
of revenues during the second quarter of 2009.
Chairman of the Board, Harry Kletter, will be presenting at the Sidoti Micro-Cap
Conference on June 25, 2010 in New York. At the Conference, "investors will have
access not only to informative 35-minute presentations, but one-on-one meetings
with CEOs and other top executives, contingent upon demand".
About ISA
Headquartered in Louisville, Kentucky, Industrial Services of America, Inc. buys,
processes and markets scrap metals and recyclable materials for domestic users
and export markets. Additionally, the company offers commercial, industrial and
business customers a variety of programs and equipment to efficiently manage
waste. More information about ISA is available at http://www.isa-inc.com.
This news release contains forward-looking statements that involve risks and
uncertainties that could cause actual results to differ from predicted results.
Specific risks include fluctuations in the price of recycled materials, varying
demand for waste managing systems, equipment and services, competitive pressures
in the stainless steel, ferrous and non-ferrous scrap metal recycling business,
competitive pressures in the waste managing business and loss of customers.
Further information on factors that could affect the Company's results is
detailed in the Company's filings with the Securities and Exchange Commission.
The Company undertakes no obligation to publicly release the results of any
revisions to the forward-looking statements.
The Company's SEC filings are available for review at the Securities and Exchange
Commission web site at http://www.sec.gov/edgar/searchedgar/companysearch.html.
SOURCE: Industrial Services of America, Inc.
Industrial Services of America, Inc.
Harry Kletter or Alan Schroering, 502-366-3452
hklet@isa-inc.com or aschroering@isa-inc.com
Copyright Business Wire 2010
The price of IDSA is starting to get interesting but I'm not biting yet.
IDSA is not in the IBD 100 anymore because it doesn't qualify. I believe this is because the IBD 100 only includes stocks that are $15 or more. The split put IDSA below $15.
You can buy on Tue and get the split shares. They start trading as split on Wed.
I still think "they" are going to run it, probably when there are more shares making it more liquid. "They" want large positions.
No. Starts trading post split on 6/2/10, Next Wednesday.
IDSA is something that I will continue to watch. I may trade it again if the time is right but for now I am out.
MIKEDDKING.
Still holding IDSA. Sold earlier at $20+. Bought back @ 15.65 on open on 25th.
Waiting for your next pick.
Yes. Works just like any other split.
Does this start trading at the split price on the 31st when the shares are issued?
It works exactly like a split. Your share count increases by 2/3rds but the share price goes down by 1/3rd.
Question: I have not been in a stock where there was a stock dividend issued. Is it as simple as if I own 1000 shares on the 17th they will give me 500 shares on the 31? Any other details I would want to know...tia
Industrial Services of America, Inc. Reports First Quarter 2010 Results
On Monday May 10, 2010, 8:00 am
LOUISVILLE, Ky.--(BUSINESS WIRE)--Industrial Services of America, Inc. (NASDAQ: IDSA), a company that buys, processes and markets ferrous and non-ferrous metals and other recyclable commodities for domestic users and export markets and offers programs and equipment to help businesses manage wastes, today reported financial results for the first quarter ending March 31, 2010.
Highlights:
* Total revenue for the first quarter 2010 increased 206% to $74.2 million
* Net income for the first quarter 2010 increased 170% to $1.8 million
* Refinanced existing credit facilities for three-year term to accommodate continued growth
Harry Kletter, Chairman and Chief Executive Officer commented, "The management team, led by our President Brian Donaghy, continues to improve and expand our operations. As developing countries continue to grow along with the general improvement of the global economy, worldwide demand for scrap metals should remain strong. We will continue to look for strategic growth opportunities and to increase efficiency. We continue to hire key revenue generating executives.”
For the first quarter of 2010:
* Total revenue was $74.2 million in 2010, compared with $24.2 million in 2009.
* Net income was $1,763,264 (basic and diluted earnings of $0.41 per share) in 2010, compared with $654,063 (basic and diluted earnings of $0.18 per share) in 2009. Basic and diluted weighted average shares outstanding were 4,299,681 and 4,325,100 in 2010 and 3,575,292 for both in 2009.
* Earnings before interest, taxes, depreciation and amortization (EBITDA) for 2010 was $4,132,001 compared with EBITDA of $1,842,236 for 2009. (See attached reconciliation.)
Other Information:
ISA will host a conference call on Monday, May 10, 2010 at 2:00 p.m. Eastern time to discuss it earnings results for the quarter ended March 31, 2010 and to provide update on business developments.
The conference call can be accessed by dialing:
U.S. and Canada Dial-in Number: 877-354-6067
International Dial-in Number: 706-758-1711
Conference ID#: 73097561
Callers should identify the Industrial Services of America earnings results call.
ISA’s 2009 SEC filings are available for review at the Securities and Exchange Commission web site at http://www.sec.gov/edgar/searchedgar/companysearch.html.
About ISA
Headquartered in Louisville, Kentucky, Industrial Services of America, Inc., is a publicly traded company whose core business is buying, processing and marketing scrap metals and recyclable materials for domestic users and export markets. Additionally, ISA offers commercial, industrial and business customers a variety of programs and equipment to efficiently manage waste. More information about ISA is available at www.isa-inc.com.
This news release contains forward-looking statements that involve risks and uncertainties that could cause actual results to differ from predicted results. Specific risks include fluctuations in the price of recycled materials, varying demand for waste managing systems, equipment and services, competitive pressures in the waste managing systems and equipment, competitive pressures in the waste managing business, and loss of customers. Further information on factors that could affect ISA's results is detailed in ISA's filings with the Securities and Exchange Commission. ISA undertakes no obligation to publicly release the results of any revisions to the forward-looking statements.
Key words: recycling, scrap, ferrous, non-ferrous materials, waste management, international markets, global markets.
FINANCIAL RESULTS AND
SUPPLEMENTAL FINANCIAL INFORMATION
FOLLOW
INDUSTRIAL SERVICES OF AMERICA, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
THREE MONTHS ENDED MARCH 2010 AND 2009
(UNAUDITED)
2010 2009
Revenue from service $ 1,535,133 $ 2,645,568
Revenue from product sales 72,633,833 21,604,355
Total Revenue 74,168,966 24,249,923
Cost of goods sold for services 1,350,403 2,262,928
Cost of goods sold for product sales 66,535,105 18,002,190
Total Cost of goods sold 67,885,508 20,265,118
Selling, general and administrative expense 3,201,022 2,709,661
Income before other income (expense) 3,082,436 1,275,144
Other income (expense)
Interest expense (328,969 ) (138,505 )
Interest income 7,829 15,243
Gain on sale of assets 184,648 3,750
Other expense (7,169 ) (65,527 )
(143,661 ) (185,039 )
Income before income taxes 2,938,775 1,090,105
Income tax provision 1,175,511 436,042
Net income $ 1,763,264 $ 654,063
Basic earnings per share $ 0.41 $ 0.18
Diluted earnings per share $ 0.41 $ 0.18
Weighted shares outstanding:
Basic 4,299,681 3,575,292
Diluted 4,325,100 3,575,292
Industrial Services of America, Inc.
Supplemental Financial Information
Reconciliation of EBITDA (1):
Three months ending March 31,
2010 2009
Net Income 1,763,264 654,063
Interest expense 328,969 138,505
Income taxes 1,175,511 436,042
Depreciation 864,257 613,626
Amortization - -
EBITDA (1) 4,132,001 1,842,236
IDSA related -- "Like other steel firms, SSAB is struggling with rapidly increasing costs for scrap metal, coal and iron ore. Faxander said that prices for scrap metal, the key ingredient for electric arc furnaces in Axis and Iowa, had risen 36 percent since the beginning of the year. In Europe, SSAB is faced with iron ore suppliers who are switching from annual to quarterly contracts, which will increase price volatility overall.
For now, SSAB believes it can keep up with the cost of raw materials.
Faxander said he believed price increases would continue past midyear.
He said the price increases are ultimately being driven by increases in demand, especially from developing countries. The World Steel Association predicts 11 percent growth in steel demand this year, which would push total steel usage above the previous 2007 record."
http://blog.al.com/press-register-business/2010/05/ssab_says_steel_demand_and_pri.html
Industrial Services of America, Inc. Clarifies Remarks Made at Taglich Brothers Small Cap Conference on May 4, 2010
On Wednesday May 5, 2010, 2:58 pm
LOUISVILLE, Ky.--(BUSINESS WIRE)--Industrial Services of America, Inc. (NASDAQ:IDSA - News), a company that buys, processes and markets ferrous and non-ferrous metals and other recyclable commodities for domestic users and export markets and offers programs and equipment to help businesses manage wastes, today clarified comments made by Mr. Harry Kletter, the Chairman of the Board and Chief Executive Officer of the Company, at the Taglich Brothers Small Cap Conference in New York.
At the Taglich Conference, Mr. Kletter referred to a run rate of $600 million; that reference was not a reference to expected 2010 revenue, but was a reference to capacity. The Company believes that its current facilities can accommodate $600 million in sales at current market prices for its products.
About ISA
Headquartered in Louisville, Kentucky, Industrial Services of America, Inc., is a publicly traded company whose core business is buying, processing and marketing scrap metals and recyclable materials for domestic users and export markets. Additionally, ISA offers commercial, industrial and business customers a variety of programs and equipment to efficiently manage waste. More information about ISA is available at www.isa-inc.com.
This news release contains forward-looking statements that involve risks and uncertainties that could cause actual results to differ from predicted results. Specific risks include fluctuations in the price of recycled materials, varying demand for waste managing systems, equipment and services, competitive pressures in the waste managing systems and equipment, competitive pressures in the waste managing business, and loss of customers. Further information on factors that could affect ISA's results is detailed in ISA's filings with the Securities and Exchange Commission. ISA undertakes no obligation to publicly release the results of any revisions to the forward-looking statements.
Contact:
Industrial Services of America, Inc.
Harry Kletter, 502-366-3452
hklet@isa-inc.com
or
Alan Schroering, 502-366-3452
aschroering@isa-inc.com
http://www.isa-inc.com/
Industrial Services of America, Inc. Announces 3-for-2 Stock Split
On Monday May 3, 2010, 8:00 am
LOUISVILLE, Ky.--(BUSINESS WIRE)--Industrial Services of America, Inc. (NASDAQ: IDSA - News), a company that recycles stainless steel, ferrous and non-ferrous scrap metal, today announced the declaration of a 3-for-2 stock split, to be effected by a 50% stock dividend.
ISA will be effecting the 3-for-2 stock split by issuing the stock dividend to holders of record as of May 17, 2010, payable May 31, 2010.
Harry Kletter, the CEO stated, "Due to the increased recognition of our company and the increased trading volume of our stock, we have decided to increase the amount of shares outstanding. Business is the strongest in our history and we have just recently announced the addition of a full service alloy operation. As the economy continues to improve we anticipate further interest in our stock. We therefore felt that at this time it is prudent to increase the outstanding shares to accommodate the market."
Harry Kletter, CEO, will be speaking at the Taglich Brothers Small Cap Equity Conference on May 4th, 2010 at the New York Athletic Club in New York City.
About ISA
Industrial Services of America, Inc. is a recycler of stainless steel, ferrous, and non-ferrous scrap metal with operations in Louisville, Kentucky, Seymour and New Albany, Indiana. The company collects, purchases, processes and sells stainless steel, ferrous and non-ferrous scrap metal to steel mini-mills, integrated steel makers, smelters, foundries, metal brokers and exporters. ISA’s recycling division specializes in the purchasing, processing and sale of stainless steel, nickel-based and high-temperature alloys. The company was incorporated in 1953 and is headquartered in Louisville, Kentucky.
This news release contains forward-looking statements that involve risks and uncertainties that could cause actual results to differ from predicted results. Specific risks include fluctuations in the price of recycled materials, varying demand for waste managing systems, equipment and services, competitive pressures in the stainless steel, ferrous and non-ferrous scrap metal recycling business, competitive pressures in the waste managing business and loss of customers. Further information on factors that could affect the Company's results is detailed in the Company's filings with the Securities and Exchange Commission. The Company undertakes no obligation to publicly release the results of any revisions to the forward-looking statements.
The Company's SEC filings are available for review at the Securities and Exchange Commission web site at http://www.sec.gov/edgar/searchedgar/companysearch.html.
Contact:
Industrial Services of America, Inc.
Harry Kletter, 502-366-3452
hklet@isa-inc.com
or
Alan Schroering, 502-366-3452
aschroering@isa-inc.com
http://www.isa-inc.com
IDSA Adds to Management Team
PRW: Industrial Services of America, Inc. Adds to Management Team
LOUISVILLE, Ky.--(BUSINESS WIRE)--April 30, 2010--
Today, Harry Kletter, CEO and Chairman of Industrial Services of America
Inc. (ISA) (NASDAQ: IDSA), announced the hiring of Terry Hancock.
We are pleased to welcome Terry Hancock, who comes to us with over 25 years
experience in the specialty stainless and high-temperature alloys segment of
our industry. With the addition of Mr. Hancock, we will expand into new
avenues in the processing of specialty alloys, specifically in the area of
aerospace alloys.
"After devoting more than 25 years to the stainless and alloy industry, I
feel that ISA's approach to both me and the consumer is unique in the fact
that they have created an environment where entrepreneurial spirit and the
customer matters. With both of these working in concert, I see nothing but
growth in our future", Mr. Hancock said.
About ISA
Industrial Services of America, Inc. is a recycler of stainless steel,
ferrous, and non-ferrous scrap metal with operations in Louisville,
Kentucky, Seymour and New Albany, Indiana. The company collects, purchases,
processes and sells stainless steel, ferrous and non-ferrous scrap metal to
steel mini-mills, integrated steel makers, smelters, foundries, metal
brokers and exporters. ISA's recycling division specializes in the
purchasing, processing and sale of stainless steel, nickel-based and
high-temperature alloys. The company was incorporated in 1953 and is
headquartered in Louisville, Kentucky.
This news release contains forward-looking statements that involve risks and
uncertainties that could cause actual results to differ from predicted
results. Specific risks include fluctuations in the price of recycled
materials, varying demand for waste managing systems, equipment and
services, competitive pressures in the stainless steel, ferrous and
non-ferrous scrap metal recycling business, competitive pressures in the
waste managing business and loss of customers. Further information on
factors that could affect the Company's results is detailed in the Company's
filings with the Securities and Exchange Commission. The Company undertakes
no obligation to publicly release the results of any revisions to the
forward-looking statements.
The Company's SEC filings are available for review at the Securities and
Exchange Commission web site at
http://www.sec.gov/edgar/searchedgar/companysearch.html.
CONTACT: Industrial Services of America, Inc.
Harry Kletter or Alan Schroering,
502-366-3452
hklet@isa-inc.com
or
aschroering@isa-inc.com
http://www.isa
inc.com
SOURCE: Industrial Services of America, Inc.
Copyright Business Wire 2010
Industrial Services of America, Inc. to present at Taglich Brothers' 7th Annual
Small Cap Equity Conference
LOUISVILLE, Ky., Apr 29, 2010 (BUSINESS WIRE) -- Harry Kletter, Chairman and
Chief Executive Officer of Industrial Services of America, Inc.(ISA) (IDSA), will
be presenting at Taglich Brothers' 7th Annual Small Cap Equity Conference on
Tuesday, May 4th, at 3:30 PM. The Conference will take place at the New York
Athletic Club in New York City.
To request additional information or to register, contact Taglich Brothers at
212-779-2971 or visit http://www.taglich.com. Taglich Brothers will be sponsoring
an audio/slide webcast of the conference via Wall Street Webcasting (TWST) on
http://www.taglich.com.
About ISA
Industrial Services of America, Inc. is a recycler of stainless steel, ferrous,
and non-ferrous scrap metal with operations in Louisville, Kentucky, Seymour and
New Albany, Indiana. The company collects, purchases, processes and sells
stainless steel, ferrous and non-ferrous scrap metal to steel mini-mills,
integrated steel makers, smelters, foundries, metal brokers and exporters. ISA's
recycling division specializes in the purchasing, processing and sale of
stainless steel, nickel-based and high-temperature alloys. The company was
incorporated in 1953 and is headquartered in Louisville, Kentucky.
This announcement and the May 4th presentation may contain, in addition to
historical information, certain forward-looking statements that involve risks and
uncertainties. Such statements reflect management's current views and are based
on certain assumptions. Actual results could differ materially from the
assumptions currently anticipated.
SOURCE: Industrial Services of America, Inc.
Industrial Services of America, Inc.
Alan Schroering, 502-366-3452
aschroering@isa-inc.com
http://www.isa-inc.com/
Copyright Business Wire 2010
IDSA is printing fresh FIVE year highs today, WEEEEEEEEEEEEEEEEEEEEEEE!!!!
IDSA is printing fresh FIVE year highs today, WEEEEEEEEEEEEEEEEEEEEEEE!!!!
Next up for IDSA -- fresh all time highs.
IDSA is printing fresh FIVE year highs today, WEEEEEEEEEEEEEEEEEEEEEEE!!!!
IDSA is running like a headless chicken again. It is up $0.62 to $17.27 with a HOD of $17.74!
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