Pitney Bowes Announces Full Year and Fourth Quarter 2015 Financial Results

Revenue totaled $937 million, a decline of 2 percent on a constant currency basis and 5 percent on a reported basis when compared to the prior year.

Revenue benefited from 14 percent growth on a constant currency basis and 11 percent growth on a reported basis in the Digital Commerce Solutions group, driven by growth in Global Ecommerce offset partially by lower results in the Software segment.

Revenue in the Enterprise Business Solutions group grew 1 percent on a constant currency basis and declined 2 percent on a reported basis. This resulted from continued growth in Presort Services offset by a decline in Production Mail.

In the Small and Medium Business (SMB) Solutions group, revenue declined 3 percent on a constant currency basis and 6 percent on a reported basis. North America Mailing had a decline of only one percent for equipment sales in the U.S. compared to the prior year. Total revenue for International Mailing had the lowest rate of decline on a constant currency basis since the implementation of the new go-to-market strategy.

On a GAAP basis, earnings per diluted share were $0.44 for the fourth quarter.

Adjusted earnings per diluted share from continuing operations were $0.48 and exclude:

  • $0.02 of expenses related to the exit of certain geographic markets during the quarter;
  • $0.05 for restructuring charges and asset impairments;
  • $0.03 of income from discontinued operations.

Earnings per share this quarter were reduced by $0.02 due to the impacts of foreign exchange.

Free cash flow during the quarter was $157 million, which was similar to the prior year. The Company generated $164 million of cash from operations on a GAAP basis. The Company used the cash to pay $37 million in dividends to its common shareholders; repurchase $35 million worth of its common stock and make $16 million in restructuring payments.

The Company’s results for the quarter and full year are summarized in the table below:

 
($ millions, except EPS)         Fourth Quarter     Full Year

2015

   

2014

2015

   

2014

Revenue $937 $984 $3,578 $3,822
 

Adjusted EPS from continuing operations

$0.48 $0.51 $1.75 $1.90
Gain on sale of Imagitas and net acquisition

and disposition related expenses

($0.02)

-

$0.32

-

Restructuring charges and asset impairments ($0.05) ($0.22) ($0.09) ($0.29)
Legal settlement -

-

($0.02)

-

Investment divestiture - - $0.04 $0.05
Extinguishment of debt - - - ($0.19)
GAAP EPS from continuing operations $0.41 $0.29 $2.00 $1.47
Discontinued operations – income $0.03 $0.02 $0.03 $0.17
GAAP EPS $0.44 $0.31 $2.03 $1.64
 

Free Cash Flow

$157 $154 $456 $571
 

« Previous Page 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14  Next Page »
Featured Video
Jobs
Design Verification Engineer for Blockwork IT at Milpitas, California
CAD Engineer for Nvidia at Santa Clara, California
GPU Design Verification Engineer for AMD at Santa Clara, California
Senior Firmware Architect - Server Manageability for Nvidia at Santa Clara, California
Senior Platform Software Engineer, AI Server - GPU for Nvidia at Santa Clara, California
Sr. Silicon Design Engineer for AMD 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