Industrial Services of America, Inc. Reports Earnings Results for the Third Quarter Ended September 30, 2019
November 13, 2019 at 04:20 pm EST
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Industrial Services of America, Inc. announced earnings results for the third quarter ended September 30, 2019. For the third quarter, the company announced total revenue was USD 12.966 million compared to USD 16.798 million a year ago. Net loss was USD 1.360 million compared to USD 477,000 a year ago. Basic loss per share from continuing operations was USD 0.17 compared to USD 0.06 a year ago. For the nine months, total revenue was USD 41.558 million compared to USD 48.056 million a year ago. Net loss was USD 3.228 million compared to net income of USD 356,000 a year ago. Basic loss per share from continuing operations was USD 0.4 compared to basic earnings per share from continuing operations of USD 0.04 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.
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