Equipment sales grew again this quarter driven by Mail Finishing, which includes the initial SendPro products launched last year. Field sales and inside sales, along with the web channel experienced strong growth in the quarter. This growth in equipment sales was offset by a decline in the recurring revenue streams, largely around lower service, financing and rental revenue. EBIT margin was lower than prior year largely due to the decline in recurring streams.
International Mailing
Equipment sales and recurring revenue streams both contributed to the revenue decline. The equipment sales decline was driven by weakness in the UK, France and Italy which was partially offset by growth in Japan. EBIT margin increased versus prior year due to improved equipment sales margins and lower expenses.
|
Enterprise Business Solutions Group |
||||||||||||||||||
| ($ millions) | Second Quarter | |||||||||||||||||
|
Y/Y |
Y/Y |
|||||||||||||||||
| Revenue |
2017 |
2016 |
Reported |
Ex Currency |
||||||||||||||
| Production Mail | $86 | $96 | (11 | %) | (10 | %) | ||||||||||||
| Presort Services |
118 |
116 |
2 |
% |
2 |
% |
||||||||||||
| Enterprise Business | $204 | $212 | (4 | %) | (3 | %) | ||||||||||||
| EBIT | ||||||||||||||||||
| Production Mail | $ 8 | $13 | (41 | %) | ||||||||||||||
| Presort Services |
19 |
21 |
(9 |
%) |
||||||||||||||
| Enterprise Business | $27 | $34 | (21 | %) | ||||||||||||||
