Pitney Bowes Announces First Quarter 2018 Financial Results
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Pitney Bowes Inc.
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Reconciliation of Reported Consolidated Results to Adjusted
Results
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(Unaudited; in thousands, except per share amounts)
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Three months ended March 31,
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2018
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2017
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Y/Y Chg.
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Reconciliation of reported revenue to revenue excluding
currency
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Revenue, as reported
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$
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983,182
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$
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836,640
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Favorable impact on revenue due to currency
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(19,537
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)
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Revenue, excluding currency
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$
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963,645
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$
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836,640
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15
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%
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Reconciliation of reported net income to adjusted net income
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Net income
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$
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53,513
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$
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65,133
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Restructuring charges, net
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755
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1,353
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Transaction costs
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1,932
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-
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Net income, as adjusted
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$
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56,200
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$
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66,486
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Reconciliation of reported diluted earnings per share to
adjusted diluted earnings per share
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Diluted earnings per share
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$
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0.28
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$
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0.35
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Restructuring charges, net
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0.00
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0.01
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Transaction costs
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0.01
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-
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Diluted earnings per share, as adjusted
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$
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0.30
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$
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0.36
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Note : The sum of the earnings per share amounts may not equal
the totals due to rounding.
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Reconciliation of reported net cash from operating activities
to free cash flow
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Net cash provided by operating activities
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$
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82,672
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$
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154,006
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Capital expenditures
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(42,923
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)
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(35,920
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)
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Restructuring payments
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15,702
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12,416
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Reserve account deposits
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6,654
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(19,346
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)
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Transaction costs
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2,594
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-
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Free cash flow
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$
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64,699
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$
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111,156
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