February 25, 2010 / 11:59 AM / 8 years ago

UPDATE 1-Iron Mountain Q4 tops Street, sees strong 2010

* Q4 EPS $0.27 vs est. $0.24

* Q4 rev $779 mln vs est $776.89 mln

* Sees FY10 EPS $1.07-$1.20 vs est $1.07

Feb 25 (Reuters) - Iron Mountain (IRM.N), which helps firms archive records and store online data, posted a better-than-expected quarter helped by a lower tax rate and forecast strong full-year results.

For the fourth quarter, the company’s net income attributable to shareholders rose to $61 million, or 30 cents per share, from $1 million, or a cent per share, a year ago.

Excluding items, the company earned 27 cents per share. Analysts were expecting 24 cents per share, according to Thomson Reuters I/B/E/S.

Revenue rose 4 percent to $779 million.

The company expects full-year adjusted earnings of $1.07 to $1.20 per share on revenue of $3.19 billion to $3.26 billion.

Analysts were looking for earnings of $1.07 cents on revenue of $3.19 billion.

Separately, Iron Mountain’s board approved a new share buyback program of up to $150 million.

The company also announced a first quarter dividend of $0.0625 per share.

Shares of the Boston-based company closed at $24.30 Wednesday on the New York Stock Exchange. (Reporting by Mansi Dutta in Bangalore, Editing by Saumyadeb Chakrabarty)

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