Pitney Bowes Announces Full Year and Fourth Quarter 2015

Pitney Bowes Announces Full Year and Fourth Quarter 2015 Financial Results


Pitney Bowes Inc.
Revenue and EBIT
Business Segments
(Unaudited; in thousands)

	Twelve Months Ended December 31,
							%
	2015			2014			Change
Revenue

North America Mailing	$	1,435,140		$	1,491,927		(4	%)
International Mailing		445,328			572,440		(22	%)
Small & Medium Business Solutions		1,880,468			2,064,367		(9	%)

Production Mail		421,178			462,199		(9	%)
Presort Services		473,612			456,556		4	%
Enterprise Business Solutions		894,790			918,755		(3	%)

Software Solutions		385,908			428,662		(10	%)
Global Ecommerce		362,087			281,643		29	%
Digital Commerce Solutions		747,995			710,305		5	%

Other		54,807			128,077		(57	%)

Total revenue	$	3,578,060		$	3,821,504		(6	%)

EBIT ⁽¹⁾

North America Mailing	$	646,913		$	642,521		1	%
International Mailing		51,070			88,710		(42	%)
Small & Medium Business Solutions		697,983			731,231		(5	%)

Production Mail		48,254			47,543		1	%
Presort Services		104,655			98,230		7	%
Enterprise Business Solutions		152,909			145,773		5	%

Software Solutions		48,531			51,193		(5	%)
Global Ecommerce		19,229			16,633		16	%
Digital Commerce Solutions		67,760			67,826		(0	%)

Other		10,569			19,240		(45	%)

Total EBIT		929,221			964,070		(4	%)

Unallocated amounts:
Interest, net ⁽²⁾		(159,374	)		(169,450	)
Corporate and other expenses		(213,095	)		(233,126	)
Restructuring charges and asset impairments, net		(25,782	)		(84,560	)
Other income (expense), net		94,838			(45,738	)
Acquisition/disposition related expenses		(14,983	)		-

Income from continuing operations before income taxes	$	610,825		$	431,196

⁽¹⁾	Segment EBIT excludes interest, taxes, general corporate expenses, restructuring charges and other items, which are not allocated to a particular business segment.
⁽²⁾	Includes financing interest expense and interest expense, net.

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