In Brief

Iron Mountain Posts Strong Numbers for Quarter

Iron Mountain Inc. has announced its financial results for the quarter ended June 30, 2005, reporting higher revenues, operating income and OIBDA.

Iron Mountain’s total consolidated revenues for the quarter grew to $512 million, an increase of 15 percent, compared to the quarter ended June 30, 2004. For the quarter, storage revenues grew 14 percent and service revenues grew 16 percent compared to the same period in 2004.

For the quarter, the storage and service revenue internal growth rates were 9 percent and 6 percent, respectively, yielding a total internal revenue growth rate of 8 percent.

Operating income for the quarter was $97 million, or 19 percent of revenues, compared to $87 million, or 20 percent of revenues, for the same period in 2004. Net income was $25 million, up 11 percent compared to $23 million for the same period in 2004. 

PENNSYLVANIA Takes Steps to Reduce ID Theft

To lessen the chance of Pennsylvania residents being victims of identity theft, Pennsylvania’s Department of Labor & Industry Secretary Stephen Schmerin and State Treasurer Robert Casey Jr. have taken action to stop printing Social Security numbers on unemployment compensation benefit checks.

Eight percent of the reported cases of identity theft in 2004—nationwide and in Pennsylvania—involved theft of government documents or benefits, according to the Federal Trade Commission.

In addition to removing Social Security numbers from benefit checks, the state also has stepped up efforts to prevent and to identify intentional acts of fraud, including promoting the use of employer separation forms to help ensure authentic information in UC claims and encouraging the filing of UC claims and employer wage reports via secure Internet sites.