ISA Reports Loss for Quarter, Year

Industrial Services of America reported a loss of $440,231 for the fourth quarter and a loss of $353,090 for the full year.

Despite the loss, ISA, based in Louisville, Ky., reported an increase in revenues for both the quarter and the year. For the fourth quarter revenues reached $21.8 million, compared to the previous year’s fourth quarter revenue of $21.6 million. For the full year revenue stands at $93.8 million, a 5.1 percent increase from 2000’s revenue total of $89.2 million.

The company cited sharp declines in recyclables pricing as a key reason for the loss. According to ISA, ferrous prices dropped 21.3 percent; non-ferrous prices dropped 5.5 percent; and old corrugated container prices dropped 56.3 percent

The company’s equipment sales and services segment was not directly affected by the change in commodity pricing. Gross profit in this segment increased by 25.7 percent fort he year.

“We have had a productive year, said ISA chairman and CEO Harry Kletter. “Despite expenses related to customer bankruptcies, inventory write downs and prospective merger expenses, as well as other effects of a depressed national economy, the company has been able to benefit from my 50 years of experience in the industry and today, it is in a position to grow.”