Iron Mountain hikes low end of '08 revenue estimate range

By Associated Press May 1, 2008 Comments (0)

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Data storage and protection company Iron Mountain Inc. on Thursday raised the lower end of its full-year revenue forecast and issued guidance for the second quarter.

The company said it expects 2008 revenue of $3.02 billion to $3.08 billion, up from an earlier range of $3 billion to $3.08 billion. That represents a 10 percent to 13 percent increase above last year's revenue.

Analysts polled by Thomson Financial expect, on average, full-year revenue of $3.05 billion.

For the second quarter, which ends in June, the company expects sales of $750 million to $770 million. Analysts expect $748.6 million.

The guidance came as Iron Mountain said first-quarter revenue climbed 18 percent but higher interest expense cut profit by 3.5 percent.

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