(Source: Business Wire)
Iron Mountain Incorporated (NYSE: IRM), the global leader in information
protection and storage services, hosted the Company's 12th
Annual Investor Day today in New York City. This annual gathering of
Company management, investors and Wall Street analysts features
management presentations covering a variety of important topics related
to the Company's strategy, execution and financial performance. The
Company described the large and expanding market opportunities in the
information protection and storage services industry and reviewed their
operating and financial strategies aimed at capitalizing on these
opportunities. The Company reinforced its strong long-term financial
outlook and also provided guidance on full year 2009 and 2010 financial
performance.
The Company is reiterating its guidance for the full year ending
December 31, 2009. This guidance is based on current expectations and
does not include the potential impact of any future acquisitions.
For the full year ending December 31, 2009, the Company expects the
following (dollars in millions):
Full Year Ending December 31, 2009
% Growth vs. 2008
Low High FX Neutral As Reported
Revenues $2,980 $3,040 3% - 5% (3)% - 0%
Operating Income 510 540
Depreciation & Amortization ~320
OIBDA 830 860 10% - 14% 5% - 9%
Capital Expenditures ~380
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Within the framework of its long-term financial strategy, Iron Mountain
issued its preliminary outlook for its 2010 financial performance. The
Company is targeting solid revenue growth and continued strong OIBDA
performance, building on strong 2009 results. Iron Mountain is
maintaining an outlook for moderated revenue growth given current
economic conditions. For its full year 2010, the Company currently
expects the following:
Full Year Ending December 31, 2010
% Growth vs.