Last $4.56 USD
Change Today +0.01 / 0.22%
Volume 14.6K
IDSA On Other Exchanges
Symbol
Exchange
Berlin
As of 8:10 PM 04/15/14 All times are local (Market data is delayed by at least 15 minutes).

industrial svcs of america (IDSA) Snapshot

Open
$4.53
Previous Close
$4.55
Day High
$4.57
Day Low
$4.50
52 Week High
04/1/14 - $5.35
52 Week Low
08/21/13 - $1.43
Market Cap
32.2M
Average Volume 10 Days
11.5K
EPS TTM
$-0.49
Shares Outstanding
7.1M
EX-Date
07/29/08
P/E TM
--
Dividend
--
Dividend Yield
--
Current Stock Chart for INDUSTRIAL SVCS OF AMERICA (IDSA)

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industrial svcs of america (IDSA) Details

Industrial Services of America, Inc. operates as a recycler of stainless steel, ferrous, and non-ferrous scrap. The company operates in two segments, Recycling and Waste Services. The Recycling segment collects, purchases, processes, and sells stainless steel, and ferrous and non-ferrous scrap metal to steel mini-mills, integrated steel makers, foundries, and refineries. It purchases ferrous and non-ferrous scrap material from industrial and commercial generators of steel, iron, aluminum, copper, stainless steel, and other metals, as well as from other scrap dealers and retail customers. This segment also processes scrap metal through its sorting, shearing, shredding, cutting, and baling operations. In addition, its non-ferrous scrap recycling operations consist primarily of collecting, sorting, and processing various grades of copper, aluminum, and brass products. The Waste Services segment provides commercial, retail, and industrial waste and recycling management services. Its waste management services include contract negotiations with service providers, centralized billing, invoice auditing, and centralized dispatching services. This segment also rents, sells, leases, and services waste handling and recycling equipment, such as trash compactors and balers to end-user customers. It maintains contracts with retail, commercial, and industrial businesses to handle waste disposal needs, primarily by subcontracting with commercial waste hauling and disposal companies. The company offers its services primarily in the United States and Canada. Industrial Services of America, Inc. was founded in 1953 and is based in Louisville, Kentucky.

108 Employees
Last Reported Date: 03/31/14
Founded in 1953

industrial svcs of america (IDSA) Top Compensated Officers

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Executives, Board Directors

industrial svcs of america (IDSA) Key Developments

Industrial Services of America, Inc. Announces Earnings Results for the Year Ended December 31, 2013

Industrial Services of America, Inc. announced earnings results for the year ended December 31, 2013. Total revenue decreased $57.4 million or 29.6% to $136.8 million in 2013, compared to $194.2 million in 2012. Net loss increased to $13.8 million from a net loss of $6.6 million in 2012, or a decline of $7.2 million. Basic and diluted loss per share was $1.96, compared with a loss per basic and diluted share of $0.95 in 2012. The company generated $5.5 million of cash from operations in the year 2013.

Industrial Services of America, Inc. Enters into a Seventh Amendment to Credit Agreement with Fifth Third Bank

On February 21, 2014, Industrial Services of America, Inc. and its subsidiary entered into a Seventh Amendment to Credit Agreement with Fifth Third Bank which amended the July 30, 2010 Credit Agreement including the First Amendment to Credit Agreement dated as of April 14, 2011, the Second Amendment to Credit Agreement dated as of November 16, 2011, the Third Amendment to Credit Agreement dated as of March 2, 2012, the Fourth Amendment to Credit Agreement dated as of August 13, 2012, the Fifth Amendment to Credit Agreement dated as of November 14, 2012 and the Sixth Amendment to Credit Agreement dated as of April 1, 2013 as follows. The Seventh Amendment extended the maturity date of both the revolving credit facility and the term loan from April 30, 2014 to July 31, 2015. The Seventh Amendment decreased the interest rate on both the revolving credit facility and term loan by 1.0% to equal the one month LIBOR plus four hundred basis points through June 30, 2014. The interest rate will increase effective July 1, 2014 by 2.0% to equal the one month LIBOR plus six hundred basis points through September 30, 2014. The interest rate will increase effective October 1, 2014 by an additional 2.0% to equal the one month LIBOR plus eight hundred basis points and continuing thereafter. The Seventh Amendment decreased the maximum revolving commitment by $10.0 million to $15.0 million until September 30, 2014. On October 1, 2014, the maximum revolving commitment will decrease by $2.5 million to $12.5 million through the termination date. The Seventh Amendment increased the eligible inventory available for calculating the borrowing base effective February 21, 2014 to 60.0% of up to $12.5 million in eligible inventory. The Seventh Amendment decreased the payment on the term loan by $80.000 to $25.000 per month on March 1 and April 1, 2014. Payments then increase by $25,000 to $50,000, payable on the first day of each month until the sale of certain real estate owned by ISA, at which time a new payment will be calculated based on net proceeds from the sale. The Seventh Amendment reduced the ratio of adjusted EBITDA for the preceding twelve months to aggregate cash payments of interest expense and scheduled payment of principal in the preceding twelve months to no less than 1.0 to 1.0 for the period ending September 30, 2014. The Seventh Amendment also provided a waiver of the Fixed Charge Coverage Ratio covenant default for the quarters ended June 30, September 30 and December 31, 2013. The Seventh Amendment requires that unfunded capital expenditures should not exceed $500,000. The Seventh Amendment also added a minimum liquidity requirement of $200,000 for any month end beginning February 28 and ending on June 30, 2014; of $500,000 for any month end beginning on July 31 and ending on December 31, 2014; and of $1.0 million for any month end beginning on or after January 31, 2015. The Seventh Amendment added a minimum consolidated adjusted EBIDTA requirement stating that the Minimum EBIDTA shall not fall below $250,000 for the calendar year to date period ending on March 31, 2014, $500,000 for the calendar year to date period ending on June 30, 2014, $750,000 for the calendar year to date period ending on September 30, 2014, and $1.0 million for each calendar year to date ending on each year ending on or after December 31, 2014.

Industrial Services of America, Inc. Announces Amendment to Credit Facility

Industrial Services of America, Inc. announced that it has finalized the terms of an amendment to its credit facility with Fifth Third Bank. With this amendment, ISA will reclassify $13,668,900 of current debt to long-term debt, improving the company's liquidity ratios and freeing up more cash to operate the business. The amendment features other important improvements, including extends the credit facility's maturity date from April 30, 2014 to July 31, 2015. Reduces monthly term loan payments from $105,000 to $50,000. Reduces the interest rate on both the revolver and the Fifth Third term loan to LIBOR + 4.00% (from LIBOR + 5.00%) through June 30, 2014. Allows the advance rate on inventory to increase from 55% to 65%. All of these changes provide ISA with enhanced near-term liquidity. The amendment is part of a more comprehensive refinancing which ISA expects to complete soon, and which the company anticipates will bring it current with all of its suppliers. Fifth Third has waived the company's previous defaults under the credit agreement.

 

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Valuation IDSA Industry Range
Price/Earnings NM Not Meaningful
Price/Sales 0.2x
Price/Book 1.8x
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TEV/Sales 0.1x
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