Industrial Services of America, Inc. Announces Third Quarter 2016 Operating Results
10 Noviembre 2016 - 3:11PM
Business Wire
Industrial Services of America, Inc. (NASDAQ: IDSA), (the
“Company” or “ISA”), a company that buys, processes and markets
ferrous and non-ferrous metals and other recyclable commodities,
and buys, dismantles and sells used auto parts, today announced the
filing of its Form 10-Q for the Quarter Ended September 30,
2016.
Despite continued challenges in the metal recycling industry,
ISA reduced its Net loss from continuing operations by 41.2% and
54.3% for the third quarter of 2016 and the year-to-date period
ended September 30, 2016, respectively, when compared to the same
periods of 2015.
For the three
months ended For the nine months ended 9/30/2016
9/30/2015 9/30/2016
9/30/2015 (in thousands) (in thousands) Revenue $9,896
$9,591 $26,015 $39,629 Net loss from
continuing operations (938 ) (1,596 ) (2,990 ) (6,540 )
This improvement in operating performance was largely due to
incremental improvements in the metal commodity markets in which
the Company operates. However, volume and margin pressures continue
to provide challenges for the Company’s financial performance.
Commenting on the Company’s results of operations, Todd
Phillips, President and CFO of ISA stated, “The ISA team was able
to improve financial performance in the third quarter. The entire
team is highly motivated and excited about the future for ISA.”
The Company intends to continue to focus on efficiencies and
productivity in its core business while a special committee of the
Board of Directors assists the Board of Directors in evaluating
strategic alternatives.
ISA’s SEC filings are available for review at the Securities and
Exchange Commission web site at
http://www.sec.gov/edgar/searchedgar/companysearch.html.
About ISA
Headquartered in Louisville, Kentucky, Industrial Services of
America, Inc., is a publicly traded company that buys, processes
and markets ferrous and non-ferrous metals and other recyclable
commodities, and buys, dismantles and sells used auto parts. More
information about ISA is available at www.isa-inc.com.
This news release contains forward-looking statements that
involve risks and uncertainties that could cause actual results to
differ from predicted results. Specific risks include fluctuations
in commodity prices, varying demand for metal recycling,
competitive pressures in metal recycling markets, competitive
pressures in the used auto parts market, availability of liquidity
and loss of customers. Further information on factors that could
affect ISA’s results is detailed in ISA’s filings with the
Securities and Exchange Commission. ISA undertakes no obligation to
publicly release the results of any revisions to the
forward-looking statements.
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Industrial Services of America, Inc.Todd Phillips,
502-366-3452President and Chief Financial Officer
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