This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Industrial Services Of America, Inc. Announces Fourth Quarter And 2011 Results

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 waste, today announced financial results for the year and fourth quarter ended December 31, 2011.

Revenue for 2011 was $276.9 million compared with $343.0 million in 2010. Net loss for 2011 was $(3.9) million, or $(0.56) per diluted share, compared with net income of $8.1 million, or $1.21 per diluted share, for 2010. Revenue for the fourth quarter of 2011 was $50.0 million compared with $99.5 million for the same period in 2010. Net income for the quarter was $(1.8) million, or $(0.26) per diluted share, compared with $2.0 million, or $0.29 per diluted share, for the fourth quarter of 2010.

Key Highlights 2011
  • Ferrous shipment volumes increased 7.5% year-over-year
  • Cash flow from operations was $19.0 million, primarily as a result of a decrease in working capital
  • Repaid debt by $17 million
  • Current ratio at December 31, 2011, was 3.2 to 1
  • We exited 2011 with $29 million of working capital and $20 million of availability on our revolving line of credit

Harry Kletter, founder and Chairman of ISA, stated, “The market demand for our stainless products was extremely volatile in 2011. While this resulted in short-term negative results, we believe the long-term outlook for this business remains strong. We have continued to invest in our people and our processes, and we expect to achieve improved profitability in our recycling segment. We have brought new talent into the organization, including the addition of two new board members with exemplary credentials, Dr. David Russell and Ms. Rudy Scarito. We believe we can benefit from their varied but relevant backgrounds. While we are still in the early days of 2012, we are beginning to see some benefits from our efforts.”

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 16,102.38 -272.38 -1.66%
S&P 500 1,921.22 -29.91 -1.53%
NASDAQ 4,683.9190 -49.5780 -1.05%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs