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Iron Mountain Inc.

May 13, 2009 | Comments: 0
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IRM
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Iron Mountain Inc. (IRM - Analyst Report) has been on a very smooth rally since early March as the overall market has strengthened and accelerated.

Company Description

Iron Mountain Inc. provides data/information management, security and disposal services both domestically and internationally. The company was founded in 1951 and has a market cap of $5.58 billion.

First-Quarter Results

Iron Mountain reported first-quarter results on Apr 30 that were ahead of estimates. Revenue was down a marginal 3.5% to $723 million. Adjusted earnings came in at 20 cents per share, 8 cents ahead of the consensus estimate.

This was the fourth time in the last 4 quarters that the company has either matched or beat the consensus, having done so by an average of 5 cents, or 37%.

Outlook Reaffirmed

During the call, Iron Mountain reaffirmed its 2009 revenue guidance of 5% to 7% and raised its target for operating income by $20 million.

Analysts Bullish

Analysts recently raised their earnings projection, with the current-year up 7 cents to 82 cents per share in the last 30 days and the current-year estimate up to $1.00, a 22% earnings growth projection.

The Chart

Shares of IRM have been in a smooth up trend since early march when the overall market began to strengthen and accelerate. Take a look below.


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Market Summary Feb 10, 2010 09:49 am ET
DJIA 9972.86  -85.78 -0.85%
NASD 2131.21  -19.66 -0.91%
S&P 500 1059.55  -10.97 -1.02%