Iron Mountain Inc. Earnings: Profit Same
S&P 500 (NYSE:SPY) component Iron Mountain Inc. (NYSE:IRM) reported its results for the fourth quarter. Iron Mountain provides information protection and storage services to clients throughout the globe.
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Iron Mountain Earnings Cheat Sheet for the Fourth Quarter
Results: Net income for Iron Mountain Inc. remained steady at $32.1 million (18 cents per diluted share) from the year-earlier quarter.
Revenue: Rose 1.7% to $741.8 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Iron Mountain Inc. reported adjusted net income of 33 cents per share. By that measure, the company beat the mean estimate of 30 cents per share. Analysts were expecting revenue of $747 million.
Quoting Management: “Our business continues to perform well and our fourth quarter results complete a year of strong financial performance. Storage revenue constant currency growth was solid at 4% for the year and our FCF grew 24% in 2011 compared to 2010,” said Richard Reese, Iron Mountain’s Chairman and Chief Executive Officer.
The company has beaten estiamtes for two quarters in a row. In the third quarter, it topped expectations with net income of 37 cents versus a mean estimate of net income of 34 cents per share.
Looking Forward: The average estimate for the first quarter of the next fiscal year remains unchanged at 29 cents a share. For the fiscal year, the average estimate has been unchanged at $1.23 a share.
(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)
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