Reflected in the quarter are a number of actions related to the
International Mailing go-to-market and geographic coverage models. At
the end of June, the Company exited additional non-core product lines in
Norway and during the third quarter expanded its indirect sales
activities by transitioning from a direct sales model to a dealer
network in six smaller European markets. Excluding the revenue related
to these transactions in both the current and prior years, revenue on a
comparative basis would have declined 2 percent, which is in line with
the Company’s stabilization objectives. The Company continued to shift
additional client accounts to inside sales in the major European
markets. In addition to creating a more variable cost structure, these
changes lessen our sensitivity to the uncertain economic conditions in
Europe. EBIT margin improved due to the changes in go-to-market,
including the shift in strategy for smaller markets.
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Enterprise Business Solutions Group
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3Q 2014
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Y-O-Y Change
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Change ex Currency
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Revenue
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$225 million
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2%
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2%
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EBIT
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$ 31 million
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2%
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