Iron Mountain Q2 Net Income Decreases - Quick Facts

(RTTNews) - Iron Mountain Incorporated (IRM), the global leader for storage and information management solutions, reported second-quarter net income attributable to company of $53.3 million compared to $271.6 million, a year ago. Earnings per share from continuing operations was $0.25 compared to $1.41. The company noted that its GAAP EPS for the prior year quarter includes $194 million and $176 million, respectively, of a net discrete tax benefit primarily related to the reversal of current and deferred tax assets and liabilities, partially offset by incremental taxes related to foreign repatriation associated with the company's conversion to a REIT effective January 1, 2014.

Adjusted OIBDA decreased to $223.2 million from $241.9 million, prior year. Adjusted EPS from continuing operations was $0.28, for the quarter. FFO (Normalized) per share was $0.48 for the quarter.

On average, four analysts polled by Thomson Reuters expected the company to report profit per share of $0.54 for the quarter. Analysts' estimates typically exclude special items.

Total revenues were $759.73 million compared to $786.89 million, a year ago. Analysts expected revenue of $778.41 million for the quarter. On a constant dollar basis, total revenue growth for the quarter was 2.2%.

For 2015, Iron Mountain maintained its guidance, with constant dollar total revenue and constant dollar Adjusted OIBDA growth to be 1% - 5%, in line with its strategic plan. On a reported dollar basis, total revenue is expected to be toward the lower end of the company's guidance of $3.03 billion to $3.15 billion. FFO Applicable to Iron Mountain (Normalized) per share is expected to be in the range of $2.00 - $2.20. Analysts expect the company to report earnings per share of $2.09 on revenue of $3.08 billion.