$ more testisql.ksh
#!/bin/ksh

results=`isql -Usa -Pmy_sa_password_goes_here <<EOF
select name from sysobjects where type = "U"
go
EOF`

line_count=0
echo "${results}" | while read line; do
   echo "Line $((line_count = line_count + 1)) is ${line}"
done

exit 0
$ ./testisql.ksh
Line 1 is name
Line 2 is ------------------------------
Line 3 is spt_values
Line 4 is spt_monitor
Line 5 is spt_limit_types
Line 6 is syblicenseslog
Line 7 is spt_ijdbc_table_types
Line 8 is spt_ijdbc_mda
Line 9 is spt_ijdbc_conversion
Line 10 is ijdbc_function_escapes
Line 11 is spt_jdbc_table_types
Line 12 is spt_mda
Line 13 is spt_jtext
Line 14 is spt_jdbc_conversion
Line 15 is jdbc_function_escapes
Line 16 is 
Line 17 is (13 rows affected)