Louisville, Kentucky, US-based Industrial Services of America, Inc. (ISA), a buyer, processor and marketer of ferrous and non-ferrous metals and other recyclable commodities for domestic users and export markets, has reported its financial results for the first half ending June 30, 2011.
Accordingly, Industrial Services of America's revenues in H1 are reported at $171.2 million, compared with $167 million during the same period in 2010. Net income was $2,479,358 during H1 decreasing from the $4,110,464 net income recorded during the same period in 2010.
Brian Donaghy, president and chief operating officer of ISA, stated, "We saw a dramatic change in stainless market conditions during the second quarter of 2011. Virtually every stainless scrap provider, including ISA, saw demand dwindle as a result of the worldwide decrease in demand for stainless steel and other nickel-based scrap. We believe that consumers have worked down their inventory levels, and we are optimistic that demand will soon rebound."