BOSTON -- Iron Mountain Incorporated (NYSE: IRM - News), the global leader in information protection and storage services, today announced its financial results for the fourth quarter ended December 31, 2006, reporting higher revenues, strong storage internal revenue growth and net income for the quarter of $0.18 per diluted share.
Iron Mountain's total consolidated revenues for the quarter ended December 31, 2006 grew to $610 million, an increase of 13% compared to the quarter ended December 31, 2005. For the quarter, storage revenues grew 11% and service revenues grew 16% compared to the same period in 2005. Storage revenues, which are considered a key performance indicator for the information protection and storage services industry, are largely recurring since customers typically retain their records for many years. This marks the 72nd consecutive quarter for which the Company has reported increased storage revenues.
For the fourth quarter of 2006, the storage and service revenue internal growth rates were 10% and 10%, respectively, yielding a total internal revenue growth rate of 10%. The total core storage and services revenue internal growth rate was 9% for the quarter.
"2006 was another solid year for Iron Mountain, highlighted by strong internal revenue growth rates, particularly in storage revenue, a key driver of our business, as our customer facing investments continue to generate the expected results," stated Richard Reese, the Company's Chairman and CEO. "The opportunities before us are many and we are aggressively investing in those that hold the greatest potential for driving long-term, increasingly profitable growth and ultimately higher shareholder value."
Iron Mountain Inc.