Industrial Services of America, Inc. Reports Earnings Results for the First Quarter Ended March 31, 2018
May 10, 2018 at 04:38 pm
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Industrial Services of America, Inc. reported earnings results for the first quarter ended March 31, 2018. For the quarter, the company's revenues of $14,657,000 compared to $13,011,000 a year ago. Net income was $36,000 compared to loss of $271,000 a year ago. The company reported positive adjusted EBITDA of $0.8 million during the quarter ended March 31, 2018, which marks a substantial improvement compared to the positive Adjusted EBITDA of $0.5 million during the quarter ended March 31, 2017. This improvement in operating performance was due in part to the successful restart of the company’s shredder as well as improvements in the company's ferrous operations margins from 2017 to 2018. The restart of the Company's shredder led to favorable sales mix and improved margins.
Industrial Services of America, Inc. buys, processes and markets ferrous and non-ferrous metals, and other recyclable commodities. The Company operates through Recycling Segment. The Company's Recycling Segment collects, purchases, processes, and sells ferrous and non-ferrous scrap metal to steel mini-mills, integrated steel makers, foundries and refineries. It buys, dismantles and sells used auto parts. It purchases ferrous and non-ferrous scrap metal from industrial and commercial generators of steel, iron, aluminum, copper, stainless steel and other metals, and from scrap dealers and retail customers who deliver these materials to its facilities. It processes scrap metal through sorting, cutting and baling. Its non-ferrous scrap recycling operations consist of collecting, sorting and processing various grades of copper, aluminum, stainless steel and brass. Its used automobile yard purchases automobiles so that retail customers can locate and remove used parts for purchase.
RECYCLIN SHS