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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