This excerpt taken from the PBI 8-K filed Apr 30, 2007.
PITNEY BOWES ANNOUNCES FIRST QUARTER RESULTS
STAMFORD, Conn., April 30, 2007 Pitney Bowes Inc. (NYSE:PBI) today reported first quarter 2007 financial results.
Revenue increased four percent to $1.4 billion and earnings per share from continuing operations grew to $.66 per diluted share.
The company generated $220 million in cash from operations during the quarter. Free cash flow was $155 million. The company used $90 million to repurchase 1.9 million of its shares during the quarter and has $351 million of remaining authorization for future share repurchases. The companys total debt decreased by $22 million during the quarter.
Commenting on the quarter, Chairman and CEO Michael J. Critelli noted, The underlying trends in our business remain solid. However, our revenue growth this quarter was softer than anticipated due to delays in orders for mailing equipment and software in the U.S. and weaker sales in Europe. We are confident about our performance going forward, especially since the recently approved U.S. postal rate case is currently providing stimulus for growth, and as finally approved, is more favorable than we anticipated at the beginning of the year. We remain comfortable with our outlook for the year.
In addition Mr. Critelli said, We took another step this quarter to further position the company for sustainable growth. We announced our acquisition of MapInfo, our largest transaction to date, which continues to build our portfolio in the information-based software market. This acquisition enhances and expands our capabilities in fast growing location intelligence solutions, which uses information such as geographic coordinates to help businesses market, assess risk and manage assets.
This excerpt taken from the PBI 8-K filed Feb 5, 2007.
PITNEY BOWES ANNOUNCES FOURTH QUARTER RESULTS
STAMFORD, Conn., February 5, 2007 Pitney Bowes Inc. (NYSE:PBI) today reported fourth quarter and full year 2006 financial results.
The companys Chairman and CEO Michael J. Critelli noted, 2006 was a year of significant accomplishment for Pitney Bowes, capped off by the passage of historic postal reform legislation. There are four things of particular note for our customers and shareholders. First, we had good financial performance during the quarter and throughout the year, meeting our revenue and earnings targets. Second, we completed our restructuring program which continues to make us more efficient and competitive. Third, the sale of Capital Services and our tax settlement agreement with the Internal Revenue Service earlier in the year provides greater stability, transparency and visibility into our business. Fourth, our strategies to expand into higher growth segments throughout the mailstream have solidly positioned us to take advantage of the stability, flexibility, technology and partnerships that postal reform will bring. We are focused on the many growth opportunities available to us and committed to providing end-to-end, integrated mailstream solutions for our customers.