Home Depot Allows Contract with ISA to Expire

According to a press release, ISA was surprised by this move, as The Home Depot had been a client for 21 years.

"We have had a long and productive relationship with The Home Depot. Our waste and recycling management expertise and systems have served The Home Depot well for the last two decades," Harry Kletter, CEO of ISA, says.

"While we are disappointed at The Home Depot's decision, going forward we remain focused on servicing our other valued customers and aggressively marketing our waste and recycling management service solutions across the retail, commercial and industrial sectors and real estate development," Kletter says. "In addition, we will emphasize growth initiatives in our ferrous and non-ferrous recycling and processing operations and also in our waste and recycling equipment sales, service and leasing division," he adds.

ISA reports that for the first two quarters of 2005, The Home Depot contract accounted for 3.4 percent of ISA's net income, 59 percent of ISA's total gross revenue and 79 percent of the total gross revenue of the Computerized Waste Systems segment. During 2004, The Home Depot contract accounted for 9.4 percent of ISA's net income, 51 percent of ISA's total gross revenue and 76 percent of the total gross revenue of the Computerized Waste Systems segment.

ISA is actively working to replace the revenue generated by The Home Depot contract, however if those revenues cannot be replaced the net income to the company may be adversely affected, according to the press release.

Computerized Waste Systems is a segment of ISA which combines waste reduction and diversion and waste and recycling management technology to create customized waste disposal programs for clients throughout the United States, Puerto Rico and Canada. CWS works with more than 2,300 hauling, recycling, landfill and maintenance service providers to manage waste streams and provide proprietary reports on disposal rates, equipment cost, recycling prices and other information that keeps our customers fully informed and reduces their costs.