LONDON,
Ontario
8. Storage revenues, which are considered a key performance
indicator for the records
management and data protection services industry,
are largely recurring since customers typically
retain their records for many
years. Please refer to
the cautionary language included in this
press release when considering this
information.
About Iron Mountain
Iron Mountain
Incorporated is the global leader in information protection
and storage services.23 $ 0.22
$0. Additionally, the Company uses multiples of current and
projected OIBDA in conjunction
with its discounted cash flow models to
determine its overall enterprise valuation and to evaluate
acquisition
targets.
cgf 1962
T." Taylor said, "Over the past 60
years U-Haul has built a long and proud
history of helping families move and
store their belongings. However, the
data is not stated
as a percentage of population and is not reflective of
overall growth. HAMILTON, Ontario
9. KINGSTON, Ontario
18.
For business class travelers, select flights on Boeing 747-400
aircraft from New York (JFK) and Los Angeles to Sydney and Melbourne
offer the newly introduced
Skybed, one of the longest and most
comfortable business class beds in the sky today.
Travelers
taking advantage of the free stopover offer earn mileage
credit and can redeem awards from Qantas
Airways' frequent flyer
program partners and all oneworld carriers: Aer Lingus, American
Airlines
, British Airways, Cathay Pacific, Finnair, Iberia, and LAN. - Total Revenues are $2.84 per diluted
share.3% of revenues, for the
quarter ended December 31, 2004.86
Cumulative Effect
of Change in
Accounting Principle,
Net of Tax Benefit --
(0.councils 1950
The 2004 Top 25 Canadian Destination Cities Report was compiled from over
85,000 U-Haul
transactions occurring between Jan. EDMONTON, Alberta
4.
"Whether the trip is to bask in
the sun on Bali beaches or trek
through the rainforests of Indonesia, attend a business conference
in
India or embark on a wild life safari in South Africa, Qantas
passengers can double their value
with a free Australian stopover and
experience two continents for the price of just one," he added
.
Iron Mountain's total consolidated revenues for the year ended December
31, 2005 grew to
$2,078 million, an increase of 14% compared to the year ended
December 31, 2004., the largest shredding
business in the UK. The comparable amount
for the fourth quarter of 2004 is $12 million, or
$0.23 $ 0.20 $0.1966 wal
(C)2005
U-HAUL(R) INT'L.
Business Editors
/Travel Writers
LOS ANGELES----
Travelers Can Double Their Value with Two Continents
for the Price of One
North American travelers bound for Indonesia
, India or South
Africa on Qantas Airways can now add Australia to their business or
leisure itineraries
without adding to their airfare. Net income
before Cumulative Effect of Change in Accounting Principle
for the quarter was
$29 million, or $0.22 per diluted share, for 2005, compared to $30 million, or
$0.23 per diluted share, for the same period in 2004.ironmountain.87
Cumulative Effect
of Change in
Accounting Principle,
Net of Tax Benefit --
(0.02)
Net Income Per
Share - Basic $ 0.72 $ 0.1974 kuala
OTTAWA, Ontario
6.
Travelers from the U.com
We still
have a lot of work ahead of us but the
opportunity set remains strong and we
are well positioned to take advantage of those opportunities
.6% of revenues, for the year ended December 31, 2005 compared
to $508 million, or 28.
See Appendix
A at the end of this press release for a discussion of OIBDA and
the required reconciliation to the
appropriate GAAP measures.02 per diluted share
for both the fourth quarter and full year 2005.73
$ 0.commonwealth edinburgh
31, 2004.
Note to editors: The annual mileage of North American U-Haul trucks
would
move a family to the moon and back more than seven times per day, every day of
the year
. NORTH BAY, Ontario
11. SAINT CATHERINES, Ontario
23. RED DEER, Alberta
25
. For the year, storage revenues grew 13% and service
revenues grew 16% compared to 2004.
Richard Reese, the Company's Chairman and CEO, stated, "Our business has
performed very well throughout
2005 and the fourth quarter was no exception. This charge reduced earnings by $0.
Operating
income for the fourth quarter of 2005 was $97 million, or 18% of
revenues, compared to $87 million
, or 18% of revenues, for 2004. These statements are
forward-looking, and actual results may differ
materially.22 $ 0.73 $ 0.kuala 1954
TORONTO, Ontario
2. VICTORIA, British Columbia
13. SASKATOON, Saskatchewan
* Data compiled from over 85,000 transactions from January
- December,
2004.Travel from North America to Indonesia India or South Africa on Qantas Airways
and Get a Free Australian Stopover
For the first
time, Qantas is offering passengers free Australian
stopovers in
Sydney, Melbourne or Brisbane on flights from the United States bound
for Bali and
Jakarta, Mumbai and Johannesburg. For the fourth quarter of 2005, storage
revenues grew to $308
million, an increase of 12% compared to the fourth
quarter of 2004.84
Weighted Average
Common Shares
Outstanding - Basic 129,532 131,317 129,083 130,659
Weighted Average
Common Shares
Outstanding -
Diluted 131,537
133,008 131,176 132,070
Operating Income
before Depreciation
and Amortization $130,593 $148,737 $ 508,125 $573,706
Iron Mountain Incorporated
Condensed Consolidated Balance Sheets
(Amounts in Thousands)
(Unaudited)
December 31, December 31,
2004 2005
ASSETS
Current Assets:
Cash and Cash Equivalents $31,942 $53,413
Accounts Receivable
(less allowances of $13,886
and $14,522, respectively) 354,434
408,564
Other Current Assets 114,778 92,191
Total
Current Assets 501,154 554,168
Property, Plant and Equipment:
Property, Plant and Equipment at Cost 2,266,839 2,556,880
Less: Accumulated
Depreciation (617,043) (775,614)
Property, Plant and Equipment, net
1,649,796 1,781,266
Other Assets:
Goodwill, net
2,040,217 2,138,641
Other Non-current Assets, net 251
,220 292,065
Total Other Assets 2,291,437 2,430,706
Total Assets $4,442,387 $4,766,140
LIABILITIES
AND STOCKHOLDERS' EQUITY
Current Liabilities:
Current Portion of Long-term Debt
$39,435 $25,905
Other Current Liabilities 476,028
566,091
Total Current Liabilities 515,463 591,996
Long-term Debt, Net of Current Portion 2,438,587 2,503,526
Other Long-term Liabilities
256,724 294,622
Minority Interests
13,045 5,867
Stockholders' Equity 1,218,568
1,370,129
Total Liabilities and Stockholders' Equity $4,442,387 $4,766,140
APPENDIX A
Operating Income Before Depreciation and Amortization
The Company
uses Operating Income Before Depreciation and Amortization
("OIBDA"), an integral part of its planning
and reporting systems, to evaluate
the operating performance of the consolidated business.commonwealth 1974
6% of Revenues
- Net Income Before Cumulative Effect of Change in Accounting Principle is
$0.
For the year ended December 31, 2005, the storage and service revenue
internal growth rates were
9% and 7%, respectively, yielding a total internal
revenue growth rate of 8%.04 per diluted share
, of other income, net comprised
primarily of foreign currency related net gains, due primarily to
the
strengthening of the British Pound Sterling and the Canadian Dollar. Eastern Time.85
Net Income Per Share - Diluted:
Income Before
Cumulative Effect of
Change in
Accounting
Principle $0. As such, the Company
believes
OIBDA provides current and potential investors with relevant and
useful information regarding its
ability to grow revenues faster than
operating expenses.1954 1966
Vancouver, British Columbia and
London
, Hamilton, Kitchener and North Bay, Ontario rounded out the top 10. VANCOUVER, British Columbia
7. WINNIPEG, Manitoba
20. It offers outstanding comfort for
working, dining, sleeping
or enjoying the entertainment and is the
first and only one now flying from the U. Net
income
for the year was $0. Founded in 1951, the Company has grown to service more
than 275,000 customer
accounts throughout the United States, Canada, Europe,
Latin America and the Pacific Rim.02)
-- (0.cgf 1958
U-Haul(R) Top 25 Canadian Destination Cities*
January - December 2004
1.86 per Diluted Share
BOSTON, Iron
Mountain Incorporated
(NYSE: IRM), the global leader in information protection and storage services
,
today announced its financial results for the quarter and full year ended
December 31, 2005,
reporting higher revenues, operating income and OIBDA.
Operating income for 2005 was $387 million
, or 19% of revenues, compared
to $344 million, or 19% of revenues, for 2004. This relates primarily
to the removal of vaults and
shredding pits.03 per diluted
share, of other expense, net comprised
almost exclusively of foreign currency
related net losses.christchurch 1930
CALGARY, Alberta
3. NANAIMO
, British Columbia
24. Created by leading
Australian designer Marc Newson, Skybed features
unique cocoon style
design for the ultimate in privacy, a built-in back massager and
extensive
range of seat adjustments.ironmountain.
Contact: Stephen P.commonwealth nzl
going beyond Australia
to Mumbai,
Johannesburg, Jakarta or Denpasar can enjoy Skybed as far as the
Sydney hub, and from
there, connect to Qantas regular international
service for their onward journey.com and click on
Web Deals.com.2006 auckland
PHOENIX, U-Haul, celebrating 60 years of serving
the do-it-yourself household
moving industry, today released results of the
2004 U-Haul National Migration Trend Report titled
Top 25 Canadian Destination
Cities. 1 for the third year in a row,
while Calgary, Alberta maintained
the second position. 1 and Dec. MONTREAL, Quebec
5.
About Qantas Airways
Qantas
Airways is a global air carrier with more than 200 aircraft
offering service to 135 destinations
in 32 countries. Net income before Cumulative
Change in Accounting Principle for the year was $114
million, or $0. All per share amounts have been adjusted to reflect the
three-for-two stock split
, effected in the form of a dividend, paid on June
30, 2004. These losses were due primarily to the
weakening of the
British Pound Sterling and the Euro partially offset by a strengthening of the
Canadian
Dollar. 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 which 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.medallists 1930
OSHAWA, Ontario
12. PETERBOROUGH, Ontario
22.23 $ 0.1966 eng
S. For the quarter, storage and service revenue
internal
growth rates were 10% and 9%, respectively, yielding a total internal revenue
growth
rate of 9%.com, the content of
which is not part of this earnings release. For more information,
visit
http://www.1934 auckland
"
The ranking reflects destinations for movers traveling more than 50 miles
,
and considers every city in the country, regardless of size. BARRIE, Ontario
15. SURREY
, British Columbia
16. WINDSOR, Ontario
21.
For complete schedule and fare information
, or assistance with
planning an itinerary with a free stopover, contact Qantas Airways
reservations
at (800) 227-4500 or visit www.
We exceeded our revenue and OIBDA targets and our internal revenue
growth
rates were at or above the top of our forecasted ranges.86 per
diluted share, compared
to $94 million, or $0.2006 1958
U-Haul Names Toronto Top 2004 Canadian Destination
According to moving data
reflective of nationwide statistics for
calendar year 2004, Toronto was ranked No.
U-Haul
, based in Phoenix and entering its 60th year as the industry giant,
has the largest rental fleet
in the world with over 94,000 trucks and 75,000
trailers.0% of revenues, for the year ended December
31, 2004." This
requires us to record a liability for the present value of the estimated
future
costs of preparing a facility for exit based on contractual obligations
contained in the lease.
As a result, a non-cash charge of $3 million, net of tax, was
recorded in the fourth quarter of 2005
as a Cumulative Effect of Change in
Accounting Principle.
Also included in net income for
2005 is $6 million, or $0. Completed after the end of their fiscal year and not
included in our
2005 results of operations is Iron Mountain Europe's
acquisition of Secure Destruction Services Ltd
. Secure Destruction is based in London with seven
operating centers and more than 200 employees
located throughout the UK. A slide presentation providing
summary financial and statistical information
that will be discussed on the
conference call will also be posted to the website and available for
real-time
viewing. 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.Venues
1930 Hamilton (CAN), 1934 London (ENG), 1938 Sydney (AUS),
1950 Auckland (NZL), 1954 Vancouver (CAN), 1958 Cardiff (WAL), 1962 Perth (AUS), 1966 Kingston (JAM
), 1970 Edinburgh (SCO), 1974 Christchurch (NZL), 1978 Edmonton (CAN), 1982 Brisbane (AUS), 1986 Edinburgh
(SCO), 1990 Auckland (NZL), 1994 Victoria (CAN), 1998 Kuala Lumpur (MAS), 2002 Manchester (ENG), 2006
Melbourne (AUS)
1958 1930
Montreal ranked third,
up one spot from last year's ranking, Edmonton, Alberta
was fourth and Ottawa
continued in fifth place for the second year. Now more than ever, Canadian
families are relying on
U-Haul to provide affordable services.
For more information about Qantas
Airways, please visit the Web
site at www.Iron Mountain Incorporated Reports 2005 Financial Results
OIBDA was $149 million, or 27. The Company undertakes no obligation to update this information
(dollars in millions):
Full Year Ending December
31, 2006
Quarter Ending
March 31, 2006
Previous Current
Low High Low High Low
High
Revenues $550 $560 $2,240 $2,310 $2,240 $2,310
Operating
Income 91 96 407 423 404 420
Depreciation +
Amortization
~51 203 207 206 210
Capital Expenditures
300 355 300 355
Iron Mountain's conference call to discuss the
2005 financial results will
be held today at 11:00 a. The slide presentation and replays of the
conference call will be
available on the website for future reference.1966 cgf
KITCHENER, Ontario
10. to Sydney and Melbourne,
and beginning April 1, 2005, to Auckland, New Zealand. We also did
very
well against our strategic agenda in the fourth quarter with the acquisitions
of Pickfords
, a premier records management business with excellent national
footprints in Australia and New Zealand;
Secure Destruction Services, the only
national provider of shredding services in the UK; and LiveVault
, the leading
provider of disk-based online server backup and recovery solutions. 143.
For
the quarter ended December 31, 2005, the Company reported total
consolidated revenues of $538 million
, an increase of 12%, with storage
revenues growing at 12% and service revenues growing at 13% compared
to the
same period in 2004. 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. 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
.
NOTE: Condensed Consolidated Financial Statements of Iron Mountain
Incorporated
follow
Iron Mountain Incorporated
Condensed Consolidated
Statements of Operations
(Amounts in Thousands except Per Share Data)
(Unaudited)
Three Months Ended Twelve
Months Ended
December 31, December 31,
2004 2005 2004 2005
Revenues:
Storage
$275,134 $307,746 $1,043,366 $1,181,551
Service and Storage
Material
Sales 203,793 230,609 774,223 896,604
Total Revenues 478,927
538,355 1,817,589 2,078,155
Operating Expenses:
Cost of Sales
(Excluding
Depreciation) 214,965 242,109 823,899 938,239
Selling, General and
Administrative 132,790 151,600 486,246 569,695
Depreciation and
Amortization 43,717 51,933 163,629 186,922
Loss (Gain) on
Disposal / Writedown
of Property, Plant
and Equipment
, Net 579 (4,091) (681) (3,485)
Total Operating
Expenses
392,051 441,551 1,473,093 1,691,371
Operating Income 86,876
96,804 344,496 386,784
Interest Expense, Net 45,318 46,248 185
,749 183,584
Other (Income)
Expense, Net (12,224) 3,115 (7,988
) 6,182
Income Before
Provision for
Income Taxes and
Minority Interest 53,782 47,441 166,735 197,018
Provision for
Income Taxes 22,906 17,745 69,574 81,484
Minority Interest in
Earnings of Subsidiaries 989 582 2,970 1,684
Income Before
Cumulative Effect
of Change in
Accounting
Principle
29,887 29,114 94,191 113,850
Cumulative Effect of
Change
in Accounting
Principle, net of
tax benefit -- 2,751
-- 2,751
Net Income $29,887 $26,363 $94,191 $111,099
Net Income Per Share - Basic:
Income Before
Cumulative Effect
of Change in Accounting
Principle $ 0. Golden
Director of
Investor Relations
(617) 535-4799
2006 1930
QUEBEC CITY, Quebec
19. This
marks the 68th consecutive quarter for which the Company has
reported increased storage revenues
.
In line with its strategy, Iron Mountain acquires attractive businesses
that provide a strong
platform for future growth by expanding the Company's
geographic footprint and information protection
and storage service offerings
while enhancing its existing operations.23 $ 0. OIBDA is not
a measurement of financial performance under accounting
principles generally accepted in the United
States, or GAAP, and should not be
considered as a substitute for operating or net income or cash
flows from
operating activities (as determined in accordance with GAAP).1930 cardiff
com.QantasUSA. The total
core storage and services revenue
internal growth rate was 8% for the year."
Operating income
before depreciation and amortization ("OIBDA") was $574
million, or 27.6% of revenues, for the quarter
ended
December 31, 2005 compared to $131 million, or 27.01 per diluted share, of other expense, net
comprised primarily
of foreign currency related net losses due to the weakening of the British
Pound
Sterling and the Euro since September 30, 2005.m.
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.20 $ 0.02)
Net Income Per Share -
Diluted
$0.sco edinburgh
U-Haul, the undisputed leader in the truck-and-trailer rental
industry, is one
of the industry's largest operators of self-storage
facilities, the world's largest installer of
permanent trailer hitches and the
world's largest single-brand Yellow Pages advertiser.uhaul.
The Qantas on board experience gets every trip off to a perfect
start -- beginning with
professional and friendly inflight service; an
inviting range of menus with tempting dishes served
with complimentary
wines and beverages; non-stop total entertainment with personal seat
back TV
screens and access to seven channels with blockbuster movies;
a selection of 10 exciting games, as
well as the opportunity to stay
in touch with personal in-seat telephones. Named Airline of the Year
in 2004 by Air
Transport World magazine, Qantas Airways has long been recognized for
its continued
focus on excellence in the air as well as on the ground.QantasUSA. Included in net income for the year
ended December 31, 2004,
is $8 million, or $0.1934 christchurch
HALIFAX, Nova Scotia
14. KELOWNA, British
Columbia
17.
"With our free Australian stopover offer, Qantas passengers can
enjoy renowned
Australian hospitality on board, discover three great
cities in Australia and then easily and conveniently
connect to their
final destinations," said Howard Goldberg, Qantas Airways vice
president, sales
and marketing, The Americas.1 Billion, Up 14%
- Operating Income is $387 Million
- OIBDA is $574 Million; 27.
Effective December 31, 2005, the Company adopted the provisions
of FASB
Interpretation Number 47, "Accounting for Conditional Asset Retirement
Obligations ("ARO
"), an interpretation of FASB Statement No.05 per diluted share, of
other income, net comprised almost
entirely of foreign currency related net
gains.
Financial Performance
Outlook
The following statements are based on current expectations and do not
include
the potential impact of any future acquisitions. In order to further enhance the
overall quality
of its investor communications, the Company will simulcast the
conference call on its website at
http://www.02) -- (0.
Following is a reconciliation of operating income before
depreciation and
amortization to operating income and net income (in millions):
Three Months Ended Full Year Ended
December 31, December,
2004 2005 2004 2005
OIBDA (Operating Income Before
Depreciation and Amortization
) (1) $131 $149 $508 $574
Less: Depreciation and Amortization 44
52 164 187
Operating Income (1) $87 $97 $344
$387
Less: Interest Expense, net 45 46 186 184
Other (Income) Expense, net (12) 3 (8) 6
Provision for Income
Taxes 23 18 70 81
Minority Interest 1
1 3 2
Cumulative Effect of
Change in Accounting Principle
-- 3 -- 3
Net Income (1) $30 $26
$94 $111
Major Components of Other (Income)
Expense, net:
Foreign Exchange Effects $(11) $3 $(9) $7
(1) Columns may not foot
due to rounding.1950 jam
U-Haul Executive Vice President John "J.
The Qantas' Skybed received the
prestigious Chicago Athenaeum Museum
2004 Good Design Award for its sleeper seat that is being introduced
in the North American market.72 per diluted share, for the
same period in 2004. Going forward
, the accretion
of the associated liability will be recorded as a component of depreciation
expense
.
The most significant acquisitions completed in 2005 include: (i) the
Australian and New
Zealand operations of Pickfords Records Management, a
premier records management company based in
Melbourne, Australia, with
operations in all of Australia's capital cities (Adelaide, Brisbane, Canberra
,
Darwin, Hobart, Melbourne, Perth and Sydney) and all the major business
centers in New Zealand
(Auckland, Wellington, Hamilton and Christchurch); and
(ii) LiveVault, a leading provider of disk
-based online server backup and
recovery solutions.
Also included in net income for the quarter
ended December 31, 2005, is $3
million, or $0.
Forward-looking statements include our first quarter
and full year 2006
financial performance outlook and statements regarding our goals, beliefs,
future
growth strategies, objectives, plans or current expectations.72 $ 0.edinburgh 1966
We are proud to be able
to offer an
economical way for families to move. For more information,
visit http://www.S. Founded
in 1920,
Qantas Airways in 2004 celebrated 50 years of continuous flying
between North America
and Australia and New Zealand than any other
carrier and provides convenient connections from Los
Angeles to Bali
and Denpasar, Indonesia; Mumbai, India; and Johannesburg, South
Africa, via the
Sydney hub. In 2005, the Company completed 16
acquisitions for approximately $184 million in cash
and the purchase of
minority interests in three of our Latin American subsidiaries for total
consideration
of approximately $20 million in cash.cardiff lumpur
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