Pitney Bowes Announces Second Quarter 2013 Results

Within the Enterprise Business Solutions Group:

Worldwide Production Mail

      2Q 2013       Y-O-Y Change       Change ex Currency
Revenue $145 million 18% 18%
EBIT       $14 million       143%        

Production Mail revenue benefited from the installation of large production print and inserting equipment orders in North America. Demand for new products and printers resulted in a higher backlog at the end of the quarter. Supplies revenue grew as a result of the increased base of production print installations. EBIT margin improved versus the prior year due to the growth in revenue and cost reduction initiatives. The Company continued to invest in Volly™ but the EBIT impact was partially offset by licensing and services revenue from Australia Post.

Software

      2Q 2013       Y-O-Y Change       Change ex Currency
Revenue $92 million (8%) (7%)
EBIT       $16 million       85%        

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