Pitney Bowes Announces Third Quarter 2017 Financial Results

 

             
Pitney Bowes Inc.

Business Segments - Revenue and EBIT

(Unaudited; in thousands)

                                     
    Three months ended September 30,   Nine months ended September 30,
      2017      

2016 (1)

 

  % Change     2017      

2016 (1)

 

  % Change

Revenue

                                   
                                     
North America Mailing   $ 319,966     $ 349,785     (9 %)   $ 1,016,640     $ 1,064,456     (4 %)
International Mailing     93,770       96,730     (3 %)     282,150       309,297     (9 %)
Small & Medium Business Solutions     413,736       446,515     (7 %)     1,298,790       1,373,753     (5 %)
                                     
Production Mail     104,387       106,350     (2 %)     278,912       289,649     (4 %)
Presort Services     119,074       114,053     4 %     370,203       357,214     4 %
Enterprise Business Solutions     223,461       220,403     1 %     649,115       646,863    

�

%

                                     
Software Solutions     99,442       89,031     12 %     264,087       257,417     3 %
Global Ecommerce     106,181       83,082     28 %     288,839       241,473     20 %
Digital Commerce Solutions     205,623       172,113     19 %     552,926       498,890     11 %
                                     
Total revenue   $ 842,820     $ 839,031    

�

%

  $ 2,500,831     $ 2,519,506     (1 %)
                                     

EBIT

                                   
                                     
North America Mailing   $ 107,777     $ 141,968     (24 %)   $ 369,662     $ 449,696     (18 %)
International Mailing     8,729       9,198     (5 %)     35,967       32,842     10 %
Small & Medium Business Solutions     116,506       151,166     (23 %)     405,629       482,538     (16 %)
                                     
Production Mail     14,920       15,696     (5 %)     31,515       35,434     (11 %)
Presort Services     19,474       19,181     2 %     69,461       69,305    

�

%

Enterprise Business Solutions     34,394       34,877     (1 %)     100,976       104,739     (4 %)
                                     
Software Solutions     20,912       10,329    

>100

%

    31,216       17,908     74 %
Global Ecommerce     (9,594 )     1,544    

>(100

%)

    (17,894 )     (2,608 )  

>(100

%)

Digital Commerce Solutions     11,318       11,873     (5 %)     13,322       15,300     (13 %)
                                     
Segment EBIT (2)   $ 162,218     $ 197,916     (18 %)   $ 519,927     $ 602,577     (14 %)
                                     
                                     
Reconciliation of segment EBIT to net income                                  
                                     
Segment EBIT   $ 162,218     $ 197,916           $ 519,927     $ 602,577        
Corporate expenses     (38,848 )     (51,992 )           (144,138 )     (158,536 )      
Adjusted EBIT     123,370       145,924             375,789       444,041        
Interest, net (3)     (41,230 )     (35,259 )           (120,323 )     (103,769 )      
Restructuring charges and asset impairments, net     (1,493 )     (16,494 )           (30,502 )     (49,503 )      
Gain on sale of technology   â�•     â�•             6,085     â�•        
Acquisition/disposition related expenses     (5,682 )     (578 )           (5,682 )     (4,274 )      
Income before income taxes     74,965       93,593             225,367       286,495        
Provision for income taxes     (17,607 )     (23,197 )           (53,975 )     (93,615 )      
Income from continuing operations     57,358       70,396             171,392       192,880        
Loss from discontinued operations, net of tax   â�•       (291 )         â�•       (1,951 )      
Net income   $ 57,358     $ 70,105           $ 171,392     $ 190,929        
                                             
(1)   Prior period amounts have been recast to conform to the current year presentation.
(2)   Segment EBIT excludes interest, taxes, general corporate expenses, restructuring charges, and other items that are not allocated to a particular business segment.
(3)   Includes financing interest expense and interest expense, net.
     

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