Exhibit 99.1
IRON MOUNTAIN INCORPORATED HOSTS 8TH ANNUAL INVESTOR DAY IN NEW YORK
Company Releases Financial Outlook for 2006;
Announces UK Shredding Acquisition
BOSTON, Dec. 7 /PRNewswire-FirstCall/ -- Iron Mountain Incorporated (NYSE:
IRM), the world's trusted partner for information protection and storage, today
issued its guidance for 2006 at the Company's 8th Annual Investor Day in New
York, which is expected to draw record attendance. In addition, the Company
announced the acquisition of Secure Destruction Ltd., the largest shredding
business in the UK.
"2005 has been a year of solid operational and financial performance for
Iron Mountain driven by strong execution," said Richard Reese the Company's
Chairman and CEO. "We have strengthened the business by adding complementary new
skills and executive talent to a strong existing team. Our organization is well
positioned and we are moving aggressively to capture the expanding market
opportunities before us."
For the full year ending December 31, 2006, the Company expects the
following:
-- Total revenues in the range of $2,240 million to $2,310 million;
-- Operating income between $407 million and $423 million;
-- Depreciation and amortization between $203 million and $207 million;
-- Capital expenditures of $300 million to $355 million.
The above guidance anticipates $40 million to $55 million of known
opportunity driven real estate capital expenditures and excludes all revenues,
expenses or capital expenditures associated with possible future acquisitions.
Iron Mountain also announced the acquisition of Secure Destruction Ltd., the
largest shredding business in the UK. Secure Destruction is based in London with
seven operating centers and more than 200 employees located throughout the UK.
Terms of the deal were not disclosed. This transaction makes Iron Mountain the
only national provider of secure shredding services in the UK. The Company also
announced the closing of the previously reported LiveVault transaction.
Based on the expected impact of acquisitions completed in the fourth
quarter, the Company is raising its guidance for the full year ending December
31, 2005, and now expects the following:
-- Total revenues in the range of $2,056 million to $2,066 million;
-- Operating income between $385 million and $390 million;
-- Depreciation and amortization to be approximately $183 million;
-- Capital expenditures of $250 million to $275 million.
In order to further enhance the overall quality of its investor
communications, the Company will make an audiocast of its Investor Day
presentation available on its Web site (http://www.ironmountain.com ). Please
check the Web site for details regarding the timing of the posting of the
audiocast. The slides that will be presented at the conference will also be
posted to the Web site and available for viewing after 8:00 A.M. on Wednesday,
December 7, 2005.
About Iron Mountain
Iron Mountain Incorporated is the world's trusted partner for outsourced
records management and data protection services. Founded in 1951, the Company
has grown to service more than 235,000 customer accounts throughout the United
States, Canada, Europe, Latin America and the Pacific Rim. Iron Mountain offers
records management services for both physical and digital media, disaster
recovery support services, and consulting -- services that help businesses save
money and manage risks associated with legal and regulatory compliance,
protection of vital information, and business continuity challenges. For more
information, visit http://www.ironmountain.com .
Certain Important Factors
This press release contains certain forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995 and federal
securities laws, and is subject to the safe-harbor created by such Act.
Forward-looking statements include our full year 2005 and 2006 financial
performance outlook and statements regarding our goals, beliefs, future growth
strategies, objectives, plans or current expectations. These statements involve
known and unknown risks, uncertainties and other factors that may cause the
actual results to be materially different from those contemplated in the
forward-looking statements. Such factors include, but are not limited to: (i)
changes in customer preferences and demand for the Company's services; (ii)
changes in the price for the Company's services relative to the cost of
providing such services; (iii) in the various digital businesses in which the
Company is engaged, capital and technical requirements will be beyond the
Company's means, markets for the Company's services will be less robust than
anticipated, or competition will be more intense than anticipated; (iv) the
Company's ability or inability to complete acquisitions on satisfactory terms
and to integrate acquired companies efficiently; (v) the cost and availability
of financing for contemplated growth; (vi) business partners upon whom the
Company depends for technical assistance or management and acquisition expertise
outside the United States will not perform as anticipated; (vii) changes in the
political and economic environments in the countries in which the Company's
international subsidiaries operate; and (viii) other trends in competitive or
economic conditions affecting Iron Mountain's financial condition or results of
operations not presently contemplated. Iron Mountain undertakes no obligation to
release publicly the result of any revision to these forward-looking statements
that may be made to reflect events or circumstances after the date hereof or to
reflect the occurrence of unanticipated events.
Contact: Stephen P. Golden
Director of Investor Relations
(617) 535-4799
SOURCE Iron Mountain Incorporated
-0- 12/07/2005
/CONTACT: Stephen P. Golden, Director of Investor Relations for Iron
Mountain Incorporated, +1-617-535-4799/
/Web site: http://www.ironmountain.com/
(IRM)