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Industrial Services of America, Inc. (IDSA) Reports 37% Increase in First Quarter Net Income

Industrial Services of America, Inc. (IDSA) is a recycler of scrap metals headquartered in Louisville, Kentucky. The company reported solid first quarter results today just minutes before the closing bell. Revenues rose 46% year over year to $26.1 million, while net income increased 37% to $1.09 million or 30 cents per share.

Chairman and CEO Harry Kletter stated, “ISA continued to benefit from building relationships with existing and potential customers, as well as from strong global demand and pricing for commodities. With this first quarter we have achieved a revenue run-rate of approximately $100 million. As we progress through 2008, we will continue to focus on the fundamentals of profitably growing our business by investing in our processes and by serving our customers well.”

Shares of IDSA finished trading 12.9% higher at $13.19. With 3.62 million shares outstanding, IDSA has a market cap of $48 million. With a float of only 1.8 million shares, IDSA is susceptible to large price swings. Shares of IDSA have ranged between $6.00 and $18.19 within the past year.

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