Pitney Bowes Announces Full Year and Fourth Quarter 2015 Financial Results

Revenue totaled $937 million, a decline of 2 percent on a constant currency basis and 5 percent on a reported basis when compared to the prior year.

Revenue benefited from 14 percent growth on a constant currency basis and 11 percent growth on a reported basis in the Digital Commerce Solutions group, driven by growth in Global Ecommerce offset partially by lower results in the Software segment.

Revenue in the Enterprise Business Solutions group grew 1 percent on a constant currency basis and declined 2 percent on a reported basis. This resulted from continued growth in Presort Services offset by a decline in Production Mail.

In the Small and Medium Business (SMB) Solutions group, revenue declined 3 percent on a constant currency basis and 6 percent on a reported basis. North America Mailing had a decline of only one percent for equipment sales in the U.S. compared to the prior year. Total revenue for International Mailing had the lowest rate of decline on a constant currency basis since the implementation of the new go-to-market strategy.

On a GAAP basis, earnings per diluted share were $0.44 for the fourth quarter.

Adjusted earnings per diluted share from continuing operations were $0.48 and exclude:

  • $0.02 of expenses related to the exit of certain geographic markets during the quarter;
  • $0.05 for restructuring charges and asset impairments;
  • $0.03 of income from discontinued operations.

Earnings per share this quarter were reduced by $0.02 due to the impacts of foreign exchange.

Free cash flow during the quarter was $157 million, which was similar to the prior year. The Company generated $164 million of cash from operations on a GAAP basis. The Company used the cash to pay $37 million in dividends to its common shareholders; repurchase $35 million worth of its common stock and make $16 million in restructuring payments.

The Company’s results for the quarter and full year are summarized in the table below:

 
($ millions, except EPS)         Fourth Quarter     Full Year

2015

   

2014

2015

   

2014

Revenue $937 $984 $3,578 $3,822
 

Adjusted EPS from continuing operations

$0.48 $0.51 $1.75 $1.90
Gain on sale of Imagitas and net acquisition

and disposition related expenses

($0.02)

-

$0.32

-

Restructuring charges and asset impairments ($0.05) ($0.22) ($0.09) ($0.29)
Legal settlement -

-

($0.02)

-

Investment divestiture - - $0.04 $0.05
Extinguishment of debt - - - ($0.19)
GAAP EPS from continuing operations $0.41 $0.29 $2.00 $1.47
Discontinued operations – income $0.03 $0.02 $0.03 $0.17
GAAP EPS $0.44 $0.31 $2.03 $1.64
 

Free Cash Flow

$157 $154 $456 $571
 

« Previous Page 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14  Next Page »



Review Article Be the first to review this article


Featured Video
Jobs
Geologist for U. S. Dept. of the Interior at Marsing, Idaho
Engineer A, B or C (Transportation) for City of Austin at Austin, Texas
Structural Engineer for Harris County Houston Tx at Houston, Texas
Geographic Information System Specialist for U. S. Dept. of the Interior at Washington, District Of Columbia
Senior Operations Environmental Analyst for EDP renewables at Houston, Texas
Structural Engineer for Design Everest at San Francisco,, California
Upcoming Events
Smart GEO Expo 2019 at 513, Yeongdong-daero, Gangnam-gu (COEX, Hall C1 and C2) Seoul, Republic of Korea SEOUL SEOUL Korea (South) - Aug 7 - 9, 2019
2019 ENVI Analytics Symposium (EAS) at The Ritz-Carlton 1881 Curtis Street Denver CO - Aug 13 - 15, 2019
UAS Tech Forum 2019 at Salina KS - Aug 21 - 22, 2019
Palm Beach Countywide GIS Forum at Palm Beach County Convention Center 650 Okeechobee Blvd West Palm Beach FL - Aug 22 - 23, 2019
University of Denver GIS Masters Degree Online



Internet Business Systems © 2019 Internet Business Systems, Inc.
25 North 14th Steet, Suite 710, San Jose, CA 95112
+1 (408) 882-6554 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering EDACafe - Electronic Design Automation TechJobsCafe - Technical Jobs and Resumes  MCADCafe - Mechanical Design and Engineering ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy PolicyAdvertise