Industrial Services of America, Inc. Announces Earnings Results for the Third Quarter and Nine Months Ended September 30, 2017
November 08, 2017 at 04:31 pm EST
Share
Industrial Services of America, Inc. announced earnings results for the third quarter and nine months ended September 30, 2017. For the quarter, the company reported a net loss of $177,000 compared to $938,000 for the three months ended September 30, 2016. Adjusted EBITDA was $647,000 against negative adjusted EBITDA of $416,000 a year ago. Revenue was $14,909,000 against $9,896,000 a year ago. The improvement in operating performance was due in part to the successful start-up of the company’s auto shredder as well as improvements in pricing and volumes in the scrap metal commodity markets from 2016 to 2017.
For the nine months, the company reported a net loss of $825,000 compared to $2,990,000 a year ago. Adjusted EBITDA was $1,554,000 against negative adjusted EBITDA of $813,000 a year ago. Revenue was $41,480,000 against $26,015,000 a year ago.
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