Industrial Services of America Inc. (ISA), Louisville, Ky., has reported a decline in revenue and profits in the first quarter of 2005 compared to the first quarter of 2004. A company news release says that some metals trading was purposefully scaled back to take advantage of anticipated favorable conditions in April of 2005.
ISA’s total revenue in the period was $29.7 million, down from $34.8 million in the first quarter of 2004. Net income was just under $150,000, compared to nearly $450,000 in the first quarter of 2004.
The accompanying news released noted that the first quarter of 2004 featured a “record level of production in our ferrous material operations [that] was based on high demand for ferrous material worldwide.”
The company also says it “held back shipments in the first quarter of 2005, anticipating better market conditions, which have subsequently developed in April 2005.”
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