ISA reports profitable year for 2009 due to acquisitions

Feb. 8 -- A series of acquisitions and expansions lead to a profitable year for metals recycler Industrial Services of America, the company said in results released today for the 2009 fourth-quarter and fiscal year.

The company, based in Louisville, Ky., recycles stainless steel, ferrous and non-ferrous scrap metal. For the fiscal year ending Dec. 31, 2009, ISA expects earnings of between $1.32 and $1.37 per basic and diluted share on revenues of approximately $181 million. That compares with fiscal year 2008 earnings of $0.43 per share on revenues of $100 million.

Fourth-quarter earnings for basic and diluted shares are expected to be in the range of $0.31 to $0.36 compared to a loss of $0.69 per share during the same quarter in 2008.

The company attributed its performance to the acquisition of Venture Metals in early 2009 and the hiring of its executives. The company´s main metals facility in Louisville underwent a series of expansions in 2009 as well, including an expansion that nearly doubled the site´s usable acreage, improvements to the roads leading to the facility and the addition of a new auto shredder that significantly increased metal processing capacity.

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 waste management programs. More information about ISA is available at http://www.isa-inc.com.

Contact Waste & Recycling News reporter Amanda Smith-Teutsch at 330-865-6166 or asmith-teutsch@crain.com