Industrial Services of America Charts Future Growth Plans
2010 Poised to Be “Breakout” Year
On Tuesday January 19, 2010, 4:32 pm EST
LOUISVILLE, Ky.--(BUSINESS WIRE)--Industrial Services of America, Inc. (NASDAQ: IDSA - News) today commented on its business plans and prospects for 2010.
“Last year, we implemented a strategic growth plan that has already produced tangible success for the company and its shareholders,” said Founder and Chairman Harry Kletter. “From the second quarter in 2009, we began showing record revenues and earnings and we’re positioned to continue that success as the economy improves.”
The company has, over the past 18 months, made a series of strategic investments including acquisitions, the expansion and improvement of facilities and the recruitment of a professional management team to fuel revenue, earnings and growth and power the expansion of ISA into the future.
“We’ve made significant changes and investments in our business that position ISA to participate more robustly in higher margin segments of the metals recycling business,” said Brian Donaghy, President. “Our expansion into the stainless steel and other alloys segments in a significant way allows us to provide higher value to our customer base.”
Donaghy cited a number of investments ISA made that will fuel the company’s growth in 2010 and beyond including:
* Acquisition of Venture Metals and the hiring of its executives;
* Expansion of the company’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
* Installation of a 4-story tall, multi-million dollar shredder that dramatically upgrades metal processing capacity and throughput.
“We’ve been in the metals recycling business for more than 50 years,” said Kletter, “and we have no intention of sitting still. Our plan is to grow, grow and grow more.”
ISA expects to report fourth quarter earnings and full year 2009 results in March.
Headquartered in Louisville, Kentucky, Industrial Services of America, Inc., (NASDAQ:IDSA - News) is a fast-growing metals recycling business that processes scrap and obsolete metals for domestic users and export markets. The company also 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.
All statements, other than statements of historical facts, included in this news release, including the objectives and expectations of management, future operating results, the Company's ability to generate positive cash flows, and the Company's expectations with regard to market conditions, are forward-looking statements. These forward-looking statements are based on the Company's current expectations. Although the Company believes that the expectations expressed or implied in such forward- looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. 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, 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.
for Industrial Services of America, Inc., Louisville
Tyler Glick, 502-292-6048
Gary Gerdemann, 502-736-3466