Iron Mountain Reports First Quarter 2011 Financial Results

Iron Mountain IRM today reported its financial results for the first quarter ended March 31, 2011. The Company reported revenue, Adjusted OIBDA, as defined below (see Appendix B) and Adjusted Earnings Per Share (see Appendix B) growth of 3%, 2% and 24%, respectively, compared to the first quarter of 2010. Revenue growth was supported by solid 3% storage revenue internal growth. Adjusted EPS was $0.26 per share as lower interest costs and fewer shares outstanding drove a 24% increase over the first quarter of 2010. Reported EPS for the quarter was $0.37 per share. The Company also raised its FY 2011 revenue outlook to reflect Q1 performance and positive foreign currency impacts and updated its Adjusted OIBDA outlook to reflect advisory fees and other costs associated with the recent proxy contest.