Pitney Bowes Announces Second Quarter 2017 Financial Results

STAMFORD, Conn. — (BUSINESS WIRE) — August 1, 2017 — Pitney Bowes Inc. (NYSE: PBI), a global technology company providing innovative technology solutions to power commerce, today reported financial results for the second quarter 2017.

Quarterly Financial Results:

  • Revenue of $821 million, a decline of 2 percent as reported and flat at constant currency
  • GAAP EPS of $0.26; Adjusted EPS of $0.33
  • GAAP cash from operations of $31 million; free cash flow of $18 million
  • Issued $400 million of 5 year notes
  • Based on year-to-date results, the Company is narrowing its annual guidance range for revenue, adjusted EPS and free cash flow

"We continued to make progress on our strategic agenda in the second quarter, investing in our brand, systems, products, and capabilities,” said Marc B. Lautenbach, President and CEO, Pitney Bowes. “While our financial performance improved in certain areas, it was short of the capabilities and the potential we have created. That said, our financial performance was indicative of a company going through a transformation. Today, we are well-positioned to take advantage of the investments we have made to create the conditions for long-term success.”

Second Quarter 2017 Results

Revenue totaled $821 million for the quarter, which was a decline of two percent as reported and flat at constant currency versus prior year.

Digital Commerce Solutions revenue grew 4 percent as reported and 7 percent at constant currency. Small and Medium Business (SMB) Solutions revenue declined 3 percent as reported and 2 percent at constant currency. Enterprise Business Solutions revenue declined 4 percent as reported and 3 percent at constant currency.

GAAP earnings per diluted share (GAAP EPS) were $0.26, which included $0.09 for restructuring and asset impairment charges as well as a gain of $0.03 from the gain on sale of technology for a mining industry application, used mostly in Australia, to a channel partner. Adjusted earnings per diluted share (Adjusted EPS) were $0.33. GAAP and Adjusted EPS included a benefit of $0.05 from the resolution of tax examinations.

The Company’s earnings per share results for the second quarter are summarized in the table below:

    Second Quarter*

2017

 

2016

GAAP EPS       $0.26       $0.28  
Restructuring charges and asset impairments, net $0.09 $0.09
Gain on sale of technology ($0.03 ) -
Discontinued operations           -             $0.01    
Adjusted EPS $0.33 $0.39
* The sum of the earnings per share may not equal the totals above due to rounding.
 

1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10  Next Page »
Featured Video
Jobs
Senior Firmware Architect - Server Manageability for Nvidia at Santa Clara, California
GPU Design Verification Engineer for AMD at Santa Clara, California
Design Verification Engineer for Blockwork IT at Milpitas, California
Senior Platform Software Engineer, AI Server - GPU for Nvidia at Santa Clara, California
CAD Engineer for Nvidia at Santa Clara, California
Upcoming Events
Phil Kaufman Award Ceremony and Banquet to be held November 6 at Hayes Mansion at Hayes Mansion 200 Edenvale Ave San Jose CA - Nov 6, 2024
SEMICON Europa 2024 at Messe München München Germany - Nov 12 - 15, 2024
DVCon Europe 2023 at Holiday Inn Munich – City Centre Munich Germany - Nov 14 - 15, 2024
SEMI MEMS & Imaging Sensors Summit, at International Conference Center Munich Germany - Nov 14, 2024



© 2024 Internet Business Systems, Inc.
670 Aberdeen Way, Milpitas, CA 95035
+1 (408) 882-6554 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering TechJobsCafe - Technical Jobs and Resumes GISCafe - Geographical Information Services  MCADCafe - Mechanical Design and Engineering ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy PolicyAdvertise