Industrial Services of America, Inc. (NASDAQ: IDSA) today announced guidance for its fourth quarter ended December 31, 2010. Revenue for the fourth quarter of 2010 is expected to be between $96 and $101 million compared with $37.7 million for the fourth quarter of 2009. Net income for the fourth quarter of 2010 is expected to be between $0.25 and $0.29 per diluted share, compared with $0.24 per diluted share for the fourth quarter of 2009. Diluted shares outstanding for the fourth quarter of 2010 increased to 6,666,480 from 5,801,459 diluted shares in the fourth quarter of 2009.
2010 Financial Highlights:
- Expected 2010 Revenues of $339 to $344 million compared to $181 million in 2009.
- Expected 2010 Earnings of $1.16 to $1.21 per diluted share compared to $0.91 per diluted share in 2009.
ISA completed the upgrade of its eddy current downstream non-ferrous separation system in late December. While this new superior sorting capability is expected to add to ISA’s profitability going forward, the company was forced to hold off processing and shipping shredder output at the end of December while it awaited completion of the construction.
Key Highlights for the Year Ending December 31, 2010
- Ferrous shipment volumes increased 97% year-over-year
- Non-Ferrous shipment volumes increased 5% year-over-year
- Alloy shipment volumes increased 34% year-over-year
- Continued operational enhancements focused on profitability and efficiency
- Continued strong demand from our existing customers
Harry Klettter, Chairman of the Board of Industrial Services of America, commented, “Our record growth continued in 2010, partly as a result of the improving economy and higher commodity prices and partly due to our aggressive strategic business efforts. We will focus on increased productivity and profitability in 2011 and will continue to look for new opportunities going forward.”