For the first quarter of fiscal 2009:
Income before income taxes was $1,090,105 compared with $1,810,918 in 2008;
Earnings before interest, taxes, depreciation and amortization for 2009 were $1,842,236, compared with EBITDA of $2,423,820 for 2008;
Basic and diluted weighted average shares outstanding were $3,575,292 in 2009 and $3,617,872 in 2008.
Brian Donaghy, president and chief operating officer of Industrial Services said, “In light of domestic and international conditions in the end market for recyclable commodities, this is a strong performance.” He added that in these challenging months, ISA has been able to deliver results by broadening its portfolio in recyclable commodities, eliminating costs and managing risks. ISA expects to remain profitable in the second quarter of 2009.
Donaghy added “We continue to remain focused on expanding capacity at our existing operations,” said Harry Kletter, ISA’s chairman and chief executive officer. These are the times where proactive creativity can really deliver results. We are positioning ISA for continued years of growth.”
