Iron Mountain Reports Third Quarter 2009 Financial Results

Posted on Oct 30, 2009 in Records Management News

http://www.reuters.com/article/pressRelease/idUS107209+29-Oct-2009+BW2009102 9

BOSTON–(Business Wire)– Iron Moun­tain Incor­po­rated (NYSE: IRM), the global leader in infor­ma­tion pro­tec­tion and stor­age ser­vices, today reported its finan­cial results for the third quar­ter ended Sep­tem­ber 30, 2009. The Com­pany announced reported oper­at­ing income and oper­at­ing income before depre­ci­a­tion and amor­ti­za­tion (OIBDA) growth of 5% and 6%, respec­tively, com­pared to the third quar­ter of 2008 (see Appen­dix B). OIBDA growth was 10% on a con­stant cur­rency basis. These results were dri­ven by con­tin­ued focus on sus­tain­able oper­at­ing improve­ments and sup­ported by stor­age rev­enue inter­nal growth of 7%, which more than off­set fore­casted weak­ness in ser­vice inter­nal rev­enue growth. Incor­po­rat­ing its solid oper­at­ing per­for­mance, the Com­pany raised its full year OIBDA and cash flow out­look and refined its rev­enue out­look to reflect year-to-date results. Backed by increased cash flows from oper­a­tions, con­trolled cap­i­tal expen­di­tures, and recent financ­ing activ­i­ties, Iron Moun­tain ended the quar­ter with greater liq­uid­ity com­prised of cash and avail­abil­ity under its revolv­ing credit facil­ity of more than $1 billion.

“Iron Moun­tain is a resilient, diver­si­fied busi­ness that con­tin­ues to post solid results,” said Bob Bren­nan, Pres­i­dent and CEO. “We have a strong foun­da­tion upon which we are build­ing long-term growth plat­forms. Our dis­ci­plined man­age­ment approach con­tin­ues to drive solid profit per­for­mance through improved exe­cu­tion and is serv­ing us par­tic­u­larly well in this chal­leng­ing econ­omy. We are on track to deliver solid full year results in 2009.”

Iron Moun­tain reported total inter­nal rev­enue growth of 2% in the third quar­ter com­pared to the prior year period sup­ported by stor­age rev­enue inter­nal growth of 7%. Solid stor­age rev­enue inter­nal growth in the North Amer­i­can Phys­i­cal and Inter­na­tional Phys­i­cal busi­ness seg­ments off­set eco­nomic pres­sures on dig­i­tal rev­enues and activity-based ser­vice rev­enues related to the han­dling and trans­porta­tion of items in stor­age and secure shred­ding. As expected, com­ple­men­tary ser­vice rev­enues decreased year-over-year, due pri­mar­ily to lower recy­cled paper prices and soft­ness in the more dis­cre­tionary rev­enues, such as project rev­enues and ful­fill­ment ser­vices. OIBDA of $224 mil­lion for the quar­ter was sup­ported by higher gross profit mar­gins. Included in OIBDA for the third quar­ter is a ben­e­fit of $5 mil­lion result­ing from cer­tain vehi­cle leases being clas­si­fied as cap­i­tal leases in 2009. These leases pre­vi­ously met the require­ments to be con­sid­ered oper­at­ing leases. The year-over-year weak­en­ing of major for­eign cur­ren­cies against the U.S. dol­lar reduced reported growth rates by approx­i­mately 4% com­pared to the third quar­ter of 2008. See the appen­dices at the end of this press release for Selected Finan­cial Data, a dis­cus­sion of non-GAAP mea­sures and addi­tional infor­ma­tion regard­ing the Company‘s results.

Net income attrib­ut­able to Iron Moun­tain Incor­po­rated (see Appen­dix A) for the quar­ter was $43 mil­lion, or $0.21 per diluted share, dri­ven by higher oper­at­ing income and reduced other expense, net com­pared to the same prior year period. The effec­tive tax rate for the third quar­ter was impacted by net for­eign cur­rency gains and the asso­ci­ated tax expense and sev­eral dis­crete tax items that decreased earn­ings by $0.03 per diluted share.

Read more here http://www.reuters.com/article/pressRelease/idUS107209+29-Oct-2009+BW2009102 9

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Windows 7 — This is the best understanding of What “Windows 7″ really is … It’s Friday enjoy

Posted on Oct 30, 2009 in Records Management News

http://tech.slashdot.org/comments.pl?sid=1414209&cid=29835259

Win­dows 7: “I’m up here, boys!” by tenzig_112 (213387) on Thurs­day Octo­ber 22,

I get the impres­sion that the Win­dows 7 launch is a lot like see­ing an old girl­friend sud­denly show up on your doorstep want­ing to get back together. She’s had some work done, appar­ently: stom­ach sta­pling to take off some of the weight, breast aug­men­ta­tion, and a rad­i­cal nose job to make her look as much like your cur­rent girl­friend as med­ical sci­ence will allow.

She’s pretty, of course, almost too pretty. She still wears far too much makeup and car­ries that des­per­ate look in her eyes. The fra­grant haze around her is the per­fume she overuses to mask the scent of failure.

But stand­ing there in that low-cut top, you’d almost for­get for a moment what a psy­cho she was– how she used to shut down in the mid­dle of a date and for­get every­thing you were talk­ing about and how she was only happy when you were buy­ing her things. You’d almost for­get about car­ry­ing around her legacy bag­gage or those nights when, for seem­ingly no rea­son at all, she would sim­ply stop speak­ing to you and when you asked what was wrong she’d just spit a string of hex code at you and expect you to fig­ure it out.

You com­plained about her for years before finally decid­ing to get rid of her, and here she is again. Though, some­how she seems like a com­pletely dif­fer­ent per­son now.

“I’m up here,” she says when she catches you star­ing at her chest.

Tempted though you may be, you know that over time she’ll get bored and slow down on you just like she always does. And then you’ll be right back where you started: trapped. She keeps you by con­vinc­ing you that you don’t have a choice. You’re just not smart enough for one option or rich enough to afford the other.

“But I’m dif­fer­ent now,” she says, bat­ting her eyes inno­cently. “I’ve changed.”

Indeed she has. Appar­ently, she’s really into Cabala now or some­thing like that. It’s helped her dis­cover loads of untapped poten­tial in her­self. But it also means that you’ll have to buy all new fur­ni­ture to fit with her under­stand­ing of fang shui. That’s not the only change she has in store for you. The minute you let her move in, she’ll have a new alarm sys­tem put in that suc­ceeds only in pre­vent­ing your friends from com­ing over on poker night.

She doesn’t love you, but she doesn’t hate you, either. The truth is that she couldn’t care less one way or the other. She’s here because she doesn’t want to be alone. Like all human beings, espe­cially those well past their prime, she wants to feel wanted and, after a string of lost jobs and bad invest­ments, she needs a place to stay.

But all in all, she’s OK. She’s a seven. She’ll do, I guess.

http://tech.slashdot.org/comments.pl?sid=1414209&cid=29835259

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Best Per­sonal Regards,   Cary

Selecting an Off-site Records Provider (Article by) Leo Kane at Saracen Datastore Ltd in the UK

Posted on Oct 29, 2009 in Records Management News

This is a very nice and use­ful Arti­cle by Leo Kane at Sara­cen Data­s­tore Ltd in the UK

Select­ing an Off­site Records Stor­age … http://www.bharatbhasha.com/finance-and-business.php/180217

When set­ting out to select an Off-Site Provider for your Records Man­age­ment ser­vices it is impor­tant that you ask the right ques­tions and look out for the right ‘Tell Tale Signs’. At no point here do we give any con­sid­er­a­tion of the price of their ser­vices. The price should be the last thing we seek to get from a provider — you must firstly estab­lish who they are and what value their ser­vices can bring to your busi­ness. Only then will price mean any­thing to you. This is not the defin­i­tive list of what should be asked but should hope­fully guide you in the right direc­tion when you begin to eval­u­ate a num­ber of poten­tial providers.

Read more here … http://www.bharatbhasha.com/finance-and-business.php/180217

About Author Leo Kane : For over 10 years Leo Kane works in the Records Man­age­ment Indus­try & helped many com­pa­nies improve their Doc­u­ment Stor­age; He is now MD of Sara­cen Data­s­tore Ltd, with Sites in Dork­ing & Leather­head; Sur­rey, Sit­ting­bourne and Kent; Mil­ton Keynes spe­cial­is­ing in Secure Off­site Doc­u­ment Stor­age & Secure Off­site Tape Stor­age. To find out more about how to improve your Records and Data Man­age­ment have a look here > http://www.saracendatastore.co.uk

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Best Per­sonal Regards,   Cary, FileMan

This is what the other side is saying … Imaging Records “Oh so Easy” … Not

Posted on Oct 28, 2009 in Records Management News

http://www.manufacturing.net/Article-Taking-The-Paper-Out-Of-Paperwork-10270 9.aspx

Tak­ing The Paper Out Of Paper­work By Stephanie L. Jones, Mar­ket­ing Direc­tor, eBridge Solu­tions Manufacturing.Net — Octo­ber 27, 2009

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It’s inevitable. Elec­tronic doc­u­ment man­age­ment will soon be the only prac­ti­cal and accept­able way to retain, retrieve and dis­trib­ute your crit­i­cal busi­ness infor­ma­tion. But don’t worry; this doesn’t have to be a daunt­ing endeavor. Thou­sands of man­u­fac­tur­ers have learned to lever­age web-based tech­nol­ogy to switch pain­lessly from paper-based fil­ing and stor­age to an elec­tronic doc­u­ment man­age­ment solu­tion. Con­sider it a busi­ness imper­a­tive, since con­tin­u­ing the sta­tus quo of paper-based infor­ma­tion shar­ing will make it nearly impos­si­ble to com­pete suc­cess­fully in today’s global economy.

Going paper­less starts with con­vert­ing paper files into well-organized dig­i­tal con­tent that’s instantly acces­si­ble from any com­puter with Inter­net access. This is accom­plished through imag­ing or scan­ning. Doc­u­ments are then indexed, stored, shared, retrieved, and dis­trib­uted much more effi­ciently. Many doc­u­ment man­age­ment sys­tems also enable you to elec­tron­i­cally trans­fer other files such as Word doc­u­ments, Excel spread­sheets, JPG files and even e-mail cor­re­spon­dence directly into your elec­tronic fil­ing cab­i­nets for per­ma­nent reten­tion and easy retrieval.

Like most man­u­fac­tur­ing com­pa­nies, you prob­a­bly have many cab­i­nets full of paper which occupy valu­able square footage in your office or ware­house. Retriev­ing infor­ma­tion involves flip­ping through file fold­ers on your desk, or going to the cab­i­net, find­ing and pulling files, mak­ing copies or send­ing faxes, then re-filing every­thing in the right place. These few min­utes quickly add up to expen­sive man-hours.

How much more pro­duc­tive could you be (and how much space could you save) if every doc­u­ment you needed was right at your fin­ger­tips – acces­si­ble in sec­onds with just a few clicks or key­strokes? Even depart­ments like Sales, Human Resources, Com­pli­ance or Accounts Payable and Receiv­able can store their paper­work electronically.

Ben­e­fits of Elec­tronic Doc­u­ment Management

There are many advan­tages to going paperless:

* Time sav­ings. With doc­u­ment man­age­ment, you can have instant access to files. Scan doc­u­ments once and never print them again. View doc­u­ments with­out leav­ing your desk, which means cus­tomers get answers imme­di­ately. While you are out of the office, you can eas­ily access orig­i­nal files through any web-based doc­u­ment man­age­ment sys­tem. * Money sav­ings. With a doc­u­ment man­age­ment sys­tem, you can reduce the amount of paper you buy and vir­tu­ally elim­i­nate postage, pho­to­copies, fax machines, couri­ers and off-site stor­age. You can also decrease your paper con­sump­tion costs because you can directly e-mail or fax doc­u­ments instead of print­ing and mail­ing cum­ber­some paper files. Using this tool, you and your employ­ees will quickly become more effi­cient and pro­duc­tive — giv­ing them more time to focus on other tasks — which will save, if not make you, money. * Space sav­ings. The aver­age 5-drawer file cab­i­net takes up 12 square feet of space. Eight file cab­i­nets occupy almost 100 square feet. What would you do with an extra 100 square feet of prime office space? How much rent are you pay­ing for the space occu­pied by your file cab­i­nets? * Improved com­mu­ni­ca­tion. By plac­ing e-mail cor­re­spon­dence in the same elec­tronic fil­ing cab­i­net as con­tracts, prod­uct spec­i­fi­ca­tions, invoices and other doc­u­ments, it will be faster and eas­ier for your employ­ees to look at client infor­ma­tion and cor­re­spon­dence. No more putting peo­ple on hold. Most doc­u­ment man­age­ment sys­tems will inter­face with your cur­rent con­tact man­age­ment soft­ware, so you won’t need to store files in both places. * Improved com­pli­ance. MSDS are a per­fect exam­ple for this ben­e­fit. One Detroit-based man­u­fac­turer has begun to house their MSDS infor­ma­tion online. “We started stor­ing our MSDS data online using our doc­u­ment man­age­ment sys­tem to ensure the lat­est infor­ma­tion was avail­able to all of our employ­ees, regard­less of where they are located,” the plant man­ager explained. “With chem­i­cals in mul­ti­ple loca­tions through­out our facil­ity, stor­ing the infor­ma­tion this way made more sense than try­ing to update a large num­ber of man­u­als every time a new chem­i­cal was intro­duced or an updated MSDS came out.” * Bet­ter backup. Since so many man­u­fac­tur­ers use their ware­house space to house con­tracts and orders that aren’t used, but need to be retained, there is a real dan­ger that those records could be lost if a piece of equip­ment caught on fire or if the sprin­klers went off. By scan­ning and stor­ing paper­work elec­tron­i­cally, those threats are reduced and you’ll have cre­ated a back up of all your crit­i­cal doc­u­ments. A disaster-recovery plan is an added bonus. * Go green. Going paper­less is a great step toward going green. Paper pro­duc­tion neg­a­tively impacts our envi­ron­ment and drains nat­ural resources. As more and more doc­u­ments arrive at your desk elec­tron­i­cally, you can use a doc­u­ment man­age­ment sys­tem to auto­mat­i­cally add them to your web-based file cabinet.

Four Things to Con­sider When You Go Paperless:

There are four top­ics you should dis­cuss with any doc­u­ment man­age­ment provider you are con­sid­er­ing: Secu­rity, Ser­vice, Scal­a­bil­ity and Support.

Secu­rity Now more than ever, secu­rity must be at the fore­front of any doc­u­ment man­age­ment sys­tem. Cus­tomer and ven­dor infor­ma­tion is highly con­fi­den­tial and you have a pro­fes­sional respon­si­bil­ity to pro­tect people’s pri­vacy. Stor­ing doc­u­ments on a remote server is safer than putting files in a cab­i­net with­out locks.

Doc­u­ment man­age­ment providers should be stor­ing data using state-of-the-art encryp­tion tech­nol­ogy and need to be pre­pared to enhance that secu­rity as newer tech­nol­ogy becomes avail­able. Keep in mind, it is impor­tant that sim­i­lar encryp­tion tech­nol­ogy be employed to pro­vide secure data trans­mis­sion; think online bill pay from your bank.

Another com­po­nent of secu­rity is data backup because infor­ma­tion must always be recov­er­able. Phys­i­cal stor­age sys­tems are vul­ner­a­ble to loss from fire, theft, wind, water, and van­dal­ism. Ide­ally, data should be stored on redun­dant servers in at least two geo­graph­i­cally sep­a­rate data cen­ters and backed up regularly.

You should also receive a monthly encrypted CD from your provider with all your pre­vi­ous month’s scanned images to keep in your office. This three-tiered level of infor­ma­tion backup pro­vides a fool-proof way to com­ply with records reten­tion require­ments as well as dis­as­ter recov­ery and busi­ness con­ti­nu­ity policies.

Ser­vice Advances in com­puter sys­tems have afforded us instant access to infor­ma­tion on the Inter­net. A doc­u­ment man­age­ment sys­tem must be equally as respon­sive, even when trans­mit­ting and stor­ing mil­lions of doc­u­ments. Today’s Internet-based sys­tems can eas­ily meet or exceed the per­for­mance of a local server-based system.

Be mind­ful, too, of how eas­ily your doc­u­ment man­age­ment sys­tem will inte­grate or inter­face with your cur­rent busi­ness man­age­ment soft­ware appli­ca­tion. This will greatly increase its ease of use.

Scal­a­bil­ity As your busi­ness grows, so will your need to pro­vide doc­u­ment access to new employ­ees. Be sure to choose a sys­tem that is com­pletely scal­able to meet your chang­ing busi­ness needs with­out hav­ing to spend more money. Some doc­u­ment man­age­ment providers will charge per work­sta­tion or user. This might not fit into your bud­get, so plan accordingly.

Sup­port Internet-based soft­ware sys­tems pro­vide a real value to their cus­tomers in that every user is on the same ver­sion of the soft­ware. In other words, the ven­dor only has to sup­port one ver­sion of their soft­ware so they can do their job extremely well. Since the occa­sional tech­ni­cal prob­lem or pass­word reset request is sure to arise, be cer­tain that tech­ni­cal sup­port is included in your cost.

An Internet-based doc­u­ment man­age­ment sys­tem pro­vides a paper­less solu­tion for man­u­fac­tur­ers or busi­nesses in any indus­try. Just remem­ber, your paper will con­tinue to grow until you scan it and shred it. Sim­ply put, the sooner you let go of the paper the sooner you can expe­ri­ence the many ben­e­fits of elec­tronic doc­u­ment management.

Stephanie L. Jones, MBA, is the Mar­ket­ing Direc­tor for eBridge Solu­tions, a web-based doc­u­ment man­age­ment com­pany located in Tampa, Florida. She can be reached at sjones@eBridgeSolutions.com.

http://www.manufacturing.net/Article-Taking-The-Paper-Out-Of-Paperwork-10270 9.aspx

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Com­pli­ments of File­Man Research   Cary

Get the IRON Mountain Toolkit free for taking a brief survey … y es you can have it if you are a competitor.

Posted on Oct 27, 2009 in Records Management News

Try this Link for the Iron Moun­tain Tool Kit get them here    http://programs.ironmountain.com/forms/IronMountainSolutionToolkit?elq=bf01eebee0344c1da6f2aa9bf49fca67

There are four doc­u­ments in the toolkit:

1 Are you mak­ing a sound invest­ment in iden­ti­fy­ing and pro­tect­ing your vital records? The lack of a sound vital record preser­va­tion pro­gram can be a real Achilles heel for an orga­ni­za­tion – expos­ing it to con­sid­er­able finan­cial, com­pli­ance and busi­ness con­ti­nu­ity risks, as well as poten­tial dam­age to its reputation.

2 What does your records reten­tion pol­icy look like? A records reten­tion sched­ule is the cor­ner­stone of an effec­tive records man­age­ment pro­gram. Estab­lish­ing how long to retain records requires the devel­op­ment and imple­men­ta­tion of a cred­i­ble records reten­tion pol­icy. Orga­ni­za­tions are also advised to drive towards con­sis­tency in every aspect of reten­tion management.

3 Is your com­pany fully pro­tected? Orga­ni­za­tions are see­ing an increase in tempt­ing offers from ven­dors solic­it­ing their dis­carded paper records in exchange for free or inex­pen­sive disposal. Unless a vendor’s pro­ce­dures pass legal muster under state and fed­eral statutes and reg­u­la­tions, the ser­vices offered may rep­re­sent more than just false econ­omy to the unin­formed customer.

4 Does your orga­ni­za­tion have an effec­tive data pro­tec­tion and recov­ery strat­egy? The key for any orga­ni­za­tion – regard­less of size or indus­try – is to imple­ment a data pro­tec­tion pro­gram that mit­i­gates busi­ness risks, reduces costs, increases com­pli­ance, and helps improve over­all busi­ness ser­vice levels.

get them here    http://programs.ironmountain.com/forms/IronMountainSolutionToolkit?elq=bf01eebee0344c1da6f2aa9bf49fca67

Iron Moun­tain spends mil­lions of dol­lars on these typrs of valu­able doc­u­ments and you can have them free like every­one elso. Why not learn from the biggest.

Com­pli­ments of File­Man Research.