Industrial Services of America Stock Up on Latest Results

Industrial Services, which is based in Louisville, Ky., is a leading waste management consulting and recycling services company.

Its shares finished at $7.38, up $2.28, or 45 percent, on heavy volume on the Nasdaq Stock Market. The day's strongest level of $7.71 was a 52-week high surpassing the prior high of $6.80 set on Oct. 29. Industrial Services last traded above $7.70 a share in August 1997.

"We experienced fourth quarter revenue growth, largely due to the increased prices in the metals markets, which is directly tied to the growth of the Chinese market," Chief Executive Harry Kletter noted in the company's press release. "This has also allowed us to liquidate inventories. We created our new export division in 2003 to take advantage of these opportunities."

Industrial Services said Monday it swung to fourth-quarter net income of $280,717, or 17 cents a share, from the prior year's loss of $494,441, or 30 cents a share.

Revenue rose 27 percent to $31 million from $24.4 million.

The company predicted that the business conditions that fueled the fourth-quarter performance would continue. "Over the next year, we expect the metals markets to remain strong," Kletter said.

As for the other business lines, Kletter said the waste equipment business "should remain steady," and that the company is working toward expanding its real estate holdings.

Industrial Services is closely held, with about 85 percent of the outstanding shares in the hands of Kletter, his relatives or affiliates.