Iron Mountain Q2 Earnings Advance - Quick Facts

(RTTNews) - Enterprise storage firm Iron Mountain Inc. (IRM) Thursday reported second-quarter earnings which increased, due to a substantial tax benefit and revenue growth.

The company, whose real estate network comprises of over 1,000 facilities in 36 countries, converted to a REIT in beginning of this year.

Iron Mountain's second-quarter FFO was $317.59 million or $1.64 per share, and FFO, excluding certain items, totaled $117.86 million or $0.61 per share.

For the three months to June, net earnings surged to $271.64 million or $1.40 per share, from $26.37 million or $0.14 per share a year ago.

Excluding certain items, per-share earnings were $0.39, compared with $0.41 a year earlier.

On average, ten analysts polled by Thomson-Reuters estimated the company's earnings to be $0.39 for the quarter. Analysts' estimates typically exclude one-time items.

Quarterly revenues increased to $787 million, from $754 million last year, above the $774.24 million Wall Street expected.