Pitney Bowes Announces First Quarter 2014 Results

Within the SMB Solutions Group:

North America Mailing

      1Q 2014     Y-O-Y Change     Change ex Currency
Revenue $381 million (2%) (1%)
EBIT       $160 million     8%      
 

Within the North America Mailing results, equipment sales revenue benefited from 2 percent growth in the U.S., which was more than offset by lower equipment sales in Canada. This was the second consecutive quarter of positive growth in U.S. equipment sales, which benefited from the Company’s go-to-market strategy. Recurring revenue streams declined at a lesser rate than prior year due to growth in supplies revenue and a moderation in the decline in financing and rentals revenue, continuing a trend of year-over-year improvement. Overall, North America Mailing revenue declined at the lowest rate in more than 5 years.

EBIT margin improved during the quarter due to the new go-to-market strategy and additional cost reduction initiatives.

International Mailing

      1Q 2014     Y-O-Y Change     Change ex Currency
Revenue $153 million 0% (1%)
EBIT       $25 million     43%      
 

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