IRON MOUNTAIN REPORTS FOR QUARTER
Iron Mountain Inc., headquartered in Boston, has announced its financial results for the quarter and full year ended Dec. 31, 2005. The company reports higher revenue and operating income before depreciation and amortization (OIBDA).
Iron Mountain’s total consolidated revenue for the year ended Dec. 31, 2005, grew to nearly $2.1billion, an increase of 14 percent compared to the previous year, according to the company.
Storage revenue for the year grew 13 percent and service revenue grew 16 percent compared to 2004.
For the fourth quarter of 2005, storage revenues grew to $308 million, an increase of 12 percent compared to the fourth quarter of 2004. According to Iron Mountain, this marks the 68th consecutive quarter for which the company has reported increased storage revenues.
For the year, Iron Mountain’s storage and service revenue internal growth rates were 9 percent and 7 percent, respectively, yielding a total growth rate of 8 percent.
Richard Reese, Iron Mountain’s chairman and CEO, says, "Our business has performed very well throughout 2005, and the fourth quarter was no exception. We exceeded our revenue and OIBDA targets, and our internal revenue growth rates were at or above the top of our forecasted ranges."
Reese adds, "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."
For the forth quarter, Iron Mountain reported total consolidated revenue of $538 million, an increase of 12 percent. Storage revenue grew 12 percent, and service revenue grew 13 percent compared to Q4 of 2004. n Bank Loses Customer Data
Bridgeport, Conn.-based People’s Bank has reported that a backup tape containing personal information on nearly 90,000 customers was lost in transit via UPS.
People’s Bank has said that it considers misuse of the data "highly unlikely" and has not received reports of unauthorized activity on any of the affected accounts.
ID Theft Bills Proposed in Maryland
Maryland lawmakers have proposed two pieces of legislation that would address ID theft issues in the state, according to a Baltimore television station.
House Bill 630 would require companies to destroy or secure records that contain personal information, while Senate Bill 487 would enable consumers to restrict access to their credit reports.
Arizona NonProfit Expands
The Centers for Habilitation (TCH), Tempe, Ariz., recently landed a contract with the state that will effectively triple the organization’s shredding business.According to a report in the Arizona Republic, TCH, operating under the name Assured Security Document Destruction, will shred 2 million to 3 million pounds of documents for various state agencies under the contract, with revenue going to fund TCH programs.
Kentucky Lawmakers Consider ID Theft Legislation
Kentucky lawmakers have proposed a bill that would restrict businesses’ and government’s ability to make public Social Security numbers and other sensitive information.
According to a local television news report, House Bill 4 would also require businesses to notify customers of information breaches and would allow individuals to freeze their credit information.
DataXile Joins NAID
DataXile Corp., headquartered in Toronto, says it has become the first Canadian firm focused solely on electronic data destruction to join the National Association for Information Destruction (NAID).
DataXile provides secure electronic data destruction services.
"The decision to join NAID could not have been easier. Simply put, it was a no brainer," says dataXile President Joseph Bozic. "NAID embodies everything we stand for. Secure information destruction involves so much more than just recycling and destroying assets, and I can’t think of any organization that does a better job of conveying this message than NAID."
Bozic adds, "At dataXile nothing is more important than protecting our clients’ information. Considering the current NAID membership, we are definitely in good company."
PRIDE Industries Offers Document Destruction to Sacramento Area
PRIDE Industries of Roseville, Calif., one of the nation’s largest employers of people with disabilities, will provide commercial document destruction services for sensitive and confidential information.
PRIDE document destruction services include scheduled pick up, secure transport and certified destruction. The secure 20,000-square-foot facility, located in the Natomas area of Sacramento, Calif., includes video surveillance equipment and high-end shredders and balers, according to PRIDE.
PRIDE estimates that up to 50 jobs for people with disabilities will be generated by the document destruction service, which is part of PRIDE’s Integrated Facilities Services division.
"We are investing in training, equipment and technology to deliver higher quality document shredding services at a better price," Fred Smith, vice president of Integrated Facilities Services at PRIDE, says. "Our shredders produce a finer end product, making it tougher to discern confidential information. And our chain of custody extends to the final byproduct, allowing us to issue a certification of destruction directly to our customer, confirming the secure process in its entirety," he adds.
Through its Integrated Facilities Services division, PRIDE offers a full range of services to government and commercial customers, including general custodial services, facilities and building maintenance, specialized cleaning for controlled environments, grounds maintenance, food service, recycling management and administrative services.
A private nonprofit, PRIDE Industries also offers manufacturing and logistics services and rehabilitation services. The company employs approximately 3,500 individuals nationally, including more than 2,500 people with disabilities.
City Carton Adds Executive Management Team Positions
City Carton Recycling, Iowa City, Iowa, has announced appointments to the company’s first "Executive Management Team." Each division manager will report directly to City Carton Recycling President Andy Ockenfels.
Brian Holtz will serve as eastern division manager. He will be responsible for City Carton’s recycling operations in Eastern Iowa. Brian has 13 years experience in the solid waste and recycling industry, previously serving five years as City Carton Recycling’s Quad Cities recycling facility manager. He has an undergraduate degree in environmental health and a master’s degree in business administration from Illinois State University, Normal. Brian served as Vice President of the Illinois Recycling Association in 2004 and on its board of directors from 2002 to 2004.
Tim Ockenfels will serve as southern division manager. He will be responsible for City Carton’s recycling operations in Southern Iowa. Tim has 23 years of experience with City Carton, most recently serving as a regional manager responsible for the Mt. Pleasant, Muscatine and Creston, Iowa, recycling facilities. He graduated from Regina High School in Iowa City. He is a member of the Kiwanis Club, St. Alphonsus Church and Henry County Pheasants Forever.
Frank Miller will serve as the as the Iowa City division manager. Frank has more than 30 years of experience in supervision, management, sales, accounting and trucking. He has served eight years with City Carton Recycling, first as the Cedar Falls recycling facility manager and most recently as the Iowa City recycling facility manager. He graduated from Cedar Falls High School and served in the United States Air Force and the United States Army National Guard.
Chris Ockenfels will serve as the northern division manager, with responsibility for facilities in Northern Iowa. Chris has 19 years experience with City Carton. He most recently served as the regional manager for City Carton Recycling’s affiliate confidential destruction business Document Destruction and Recycling Services (DDRS), with Iowa locations in Cedar Rapids, Davenport and Altoona. Chris is currently the president of the National Association for Information Destruction Inc. (NAID), which he has been an active member of for more than nine years. In 2004, Chris was named NAID "Member of the Year." He graduated from City High School in Iowa City.
"For 39 years, City Carton Recycling has grown throughout Iowa and the Midwest by providing excellent service and pricing to our recycling customers," Andy says. "We plan to continue growing in the recycling industry and offering expanded services to our customers, including equipment sales and service, confidential material destruction and plastics marketing. It will be the responsibility of the executive managers and their regional teams to ensure the recycling needs of customers in their regions are met."
City Carton Recycling was founded in 1967. It is Iowa’s largest full service paper recycling company and one of the largest full-service recycling companies in the Midwest.
Fireproof Records Expands
Briar Gate Reality Inc., which does business as Fireproof Records Center in Columbus, Ohio, has expanded into the Cleveland area.
The company’s Cleveland operation is named Info Store and offers record storage and retrieval services, document imaging, on-site document destruction and disaster-recovery services.
Info Store plans to employ 15 people. The company has a 60,000-square-foot warehouse in the Cleveland suburb of Brooklyn Heights.