Iron Mountain's Profits Dip

Iron Mountain's ( IRM) fourth quarter profit fell 12% from the year ago period.

The Boston-based information protection and storage services provider earned $26.36 million, or 20 cents a share, in the quarter, compared with $29.89 million, or 23 cents a share, a year ago. Adjusted for items company earned 23 cents a share in the most recent quarter. Analysts surveyed by Thomson First Call were expecting earnings of 22 cents a share in the most recent quarter.

Fourth-quarter revenue rose 12.4% from a year ago to $538.36 million. Analysts were expecting revenue of $522.99 million in the quarter.

For the first quarter 2006, company expects revenue of $550 million to $560 million and for the year $2.24 billion to $2.31 billion. Analysts expect revenue of $551.52 million for the first quarter and $2.27 billion for the full year.

Operating income before depreciation and amortization rose 13.9% to $148.74 million from a year ago.

Operating profit for the fourth quarter rose 11.4% to $96.8 million and operating profit margin declined 16 basis points to 18%.

Storage revenues, which are considered a key performance indicator for the records management and data protection services industry, rose 11.9% to $307.75 million. Revenue from services and storage material sales rose 13.1% to $230.61 million.

This story was created through a joint venture between TheStreet.com and IRIS.

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