Iron Mountain Q2 FFO, Revenue Rise

(RTTNews) - Iron Mountain Incorporated (IRM), a provider of information management services, Thursday reported funds from operations or FFO of $139.65 million or $0.47 per share for the second quarter, higher than $86.32 million or $0.29 per share in the same quarter a year ago.

Excluding items, normalized FFO increased to $231.02 million or $0.78 per share from $208.11 million or $0.71 per share last year.

AFFO grew to $320.9 million or $1.08 per share from $287.09 million or $0.98 per share a year ago.

Revenue for the quarter rose 13 percent to $1.534 billion from $1.358 billion in the previous year.

Iron Mountain's Board has declared a quarterly dividend of $0.715 per share for the third quarter, an increase of 10%. The dividend is payable on October 3, for shareholders of record on September 16.

For the full year, the company expects AFFO per share to be in the range of $4.39 - $4.51. Revenue for the year is expected between $6 billion- $6.150 billion.