Pitney Bowes Announces Second Quarter 2013 Results

                     
Pitney Bowes Inc.
Revenue and EBIT
Business Segments
June 30, 2013

(Unaudited)

 
(Dollars in thousands) Six Months Ended June 30,
  2013     2012  

%

Change

Revenue

 
North America Mailing $ 863,264 914,789 (6 %)
International Mailing   332,011     333,494   (0 %)
Small & Medium Business Solutions   1,195,275     1,248,283   (4 %)
 
Production Mail 263,788 238,083 11 %
Software 172,963 200,201 (14 %)
Management Services 351,278 360,702 (3 %)
Mail Services 237,913 222,681 7 %
Marketing Services   55,260     66,053   (16 %)
Enterprise Business Solutions   1,081,202     1,087,720   (1 %)
 
Total Revenue $ 2,276,477     2,336,003   (3 %)
 

EBIT (1)

 
North America Mailing $ 320,868 $ 346,041 (7 %)
International Mailing   37,034     41,755   (11 %)
Small & Medium Business Solutions   357,902     387,796   (8 %)
 
Production Mail 16,672 8,373 99 %
Software 20,619 19,179 8 %
Management Services 29,097 26,210 11 %
Mail Services 34,833 62,709 (44 %)
Marketing Services   6,167     12,320   (50 %)
Enterprise Business Solutions   107,388     128,791   (17 %)
 
Total EBIT $ 465,290 $ 516,587 (10 %)
 
Unallocated amounts:
Interest, net (2) (98,709 ) (97,765 )
Corporate and other expenses (114,723 ) (98,561 )
Restructuring and asset impairments (19,955 ) 585
Goodwill impairment   (97,787 )   -  
 
Income from continuing operations before income taxes $ 134,116   $ 320,846  
 
(1)   Earnings before interest and taxes (EBIT) excludes general corporate expenses, restructuring, goodwill and asset impairments.
(2) Interest, net includes financing interest expense, other interest expense and interest income.
 

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