Industrial Services of America, Inc. Announces Revenue Increase and Improved Operating Performance

Industrial Services of America, Inc. (NASDAQ: IDSA), (the “Company” or “ISA”), a company that buys, processes and markets ferrous and non-ferrous metals and other recyclable commodities, and buys used autos in order to sell used auto parts, today announced the filing with the U.S. Securities and Exchange Commission of its Form 10-Q for the quarter ended March 31, 2018.

ISA reported a 13% revenue increase and a $0.3 million improvement in net income (loss) for the quarter ended March 31, 2018 compared to the same period in 2017.

The Company reported net income of $36.0 thousand for the quarter ended March 31, 2018 compared to a net loss of $0.3 million for the quarter ended March 31, 2017. Further, the Company reported positive Adjusted EBITDA of $0.8 million during the quarter ended March 31, 2018, which marks a substantial improvement compared to the positive Adjusted EBITDA of $0.5 million during the quarter ended March 31, 2017. This improvement in operating performance was due in part to the successful restart of the Company’s shredder as well as improvements in the Company's ferrous operations margins from 2017 to 2018. The restart of the Company's shredder led to favorable sales mix and improved margins. (See Non-GAAP Measures below.)

						March 31,
							2018					2017
						(in thousands)
Revenue						$	14,657				$	13,011
Net income (loss)						$	36				$	(271	)
Adjusted EBITDA						$	816				$	496

Todd L. Phillips, Chief Executive Officer, President and Chief Financial Officer of ISA, commented, “We are excited to report the Company generated positive net income this quarter. Our turnaround and growth strategy has continued to show great progress.”