Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: E_K_S who wrote (46857)	3/7/2012 10:27:53 AM
From: CusterInvestor	Respond to of 78954

ndustrial Services of America, Inc. Announces Fourth Quarter and 2011 Results Mar 7, 2012 08:00:01 (ET) LOUISVILLE, Ky., Mar 07, 2012 (BUSINESS WIRE) -- Industrial Services of America, Inc. ( IDSA, Trade ), 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." Brian Donaghy, President and Chief Operating Officer of ISA, stated, "We have learned a lot since 2009 when we acquired the stainless steel business and started operating our shredder. With more than 50 acres of land, access to three major modes of transportation and ample on-site storage facilities, we recognize that we have an ideally located, state-of-the-art facility. Despite challenging industry conditions, which are apparent throughout the market, we have maintained strong relationships with both suppliers and customers. Our young team continues to season and we continue to believe ISA's performance will steadily improve throughout 2012 and beyond." ISA's SEC filings are available for review at the Securities and Exchange Commission web site at sec.gov . About ISA