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ISA logs second consecutive net loss in third qtr.

Keywords: Tags  scrap metal, stainless steel scrap, Industrial Services of America, ISA, recycling, quarterly earnings, Lisa Gordon


PITTSBURGH — Industrial Services of America Inc. (ISA) posted its second quarterly loss in a row as lower scrap prices reduced revenue.

The Louisville, Ky.-based scrap metal processor posted an $886,000 net loss for the three months ended Sept. 30, a significant improvement from a $4.54-million loss in the same period last year, on revenue that fell 18 percent to $45.73 million. The company had posted a $1.24-million net loss in the second quarter on revenue of $49.9 million ( amm.com, Aug. 15).

Revenue was impacted by a 23,000-gross-ton (41.5-percent) decline in ferrous scrap shipments during the third-quarter. Repeat scrap buyers decreased their purchases by 18.6 percent ($9.6 million), partially offset by a 7.3-percent increase in shipments to new customers.

Increased demand from its primary stainless customer, who didn’t buy much in the second quarter, led to a 79.1-percent (10.4-million-pound) increase in stainless scrap sales, the company said.

ISA said it is working to broaden its customer base, brokering deals and building blends for specialty mills.

The recycler also is taking steps to control spending, decreasing labor costs by $243,000 and rental expenses by $360,600, according to a regulatory filing.


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