Pitney Bowes Announces Second Quarter 2016 Financial Results

GAAP Cash from Operations and Free Cash Flow Results

GAAP cash from operations during the quarter was $95 million while free cash flow was $86 million. Free cash flow was slightly favorable to prior year as favorable working capital and lower capital expenditures were partly offset by lower net income.

During the quarter, the Company used cash for: $35 million in dividends to its common shareholders; $66 million for share repurchases and $12 million for restructuring payments. The Company also received $18 million of cash from investing activities related to the sale of a building in Troy, New York.

Business Segment Reporting

The Company’s business segment reporting reflects the clients served in each market and the way it manages these segments for growth and profitability. The primary reporting segment groups are the SMB Solutions group; the Enterprise Business Solutions group; and the Digital Commerce Solutions group.

The SMB Solutions group offers mailing equipment, financing, services and supplies for small and medium businesses to efficiently create mail and evidence postage. This group includes the North America Mailing and International Mailing segments. North America Mailing includes the operations of U.S. and Canada Mailing. International Mailing includes all other SMB operations around the world.

The Enterprise Business Solutions group includes the global Production Mail and Presort Services segments. Production Mail provides mailing and printing equipment and services for large enterprise clients to process mail. Presort Services provides sortation services to qualify large mail volumes for postal worksharing discounts.

The Digital Commerce Solutions group includes the Software Solutions and Global Ecommerce segments. Software Solutions provide customer engagement, customer information and location intelligence software. Global Ecommerce facilitates global cross-border ecommerce transactions and shipping solutions for businesses of all sizes.

The Other segment is comprised of the Imagitas marketing services business, which was sold on May 29, 2015.

SMB Solutions Group

($ millions)     Second Quarter
   

Y/Y

 

Y/Y

 

Y/Y Ex Currency

Revenue

2016

2015

Reported

Ex Currency

& Market Exits*

North America Mailing $ 322 $ 357 (10 %) (9 %) (9 %)
International Mailing   106     111   (4 %) (3 %) 0 %
SMB Solutions Total $ 428 $ 467 (8 %) (8 %) (7 %)
 
EBIT
North America Mailing $ 142 $ 159 (11 %)
International Mailing   13     14   (10 %)
SMB Solutions Total $ 155 $ 174 (11 %)
* Excluding $2.2 million related to the impacts of currency and adjusting prior year for $2.8 million related to the divested revenues resulting from the exit of direct operations in Mexico, South Africa and five markets in Asia.
 

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



Review Article Be the first to review this article
Airbus

Featured Video
Jobs
GIS Analyst II for Air Worldwide at Boston, MA
Business Partner Manager for Cityworks - Azteca Systems, LLC at Sandy, UT
Senior Structural Engineer for Design Everest at San Francisco, CA
Mechanical Engineer for IDEX Corporation at West Jordan,, UT
Upcoming Events
RoboUniverse San Diego at San Diego CA - Dec 14 - 15, 2016
GMP Compliance for Quality Control Laboratories 2016 at Andheri Kurla Road, Sahar Village, Andheri-Kurla Road, Mumbai, Maharashtra 40005 Mumbai, Maharashtra India - Jan 23 - 24, 2017
Geospatial World Forum 2017 Hyderabad at Hyderabad International Convention Center P.O Bag 1101, Cyberabad Post Office Hyderabad Telangana India - Jan 23 - 25, 2017
Trimble
Teledyne Optech
CADalog.com - Countless CAD add-ons, plug-ins and more.



Internet Business Systems © 2016 Internet Business Systems, Inc.
595 Millich Dr., Suite 216, Campbell, CA 95008
+1 (408)-337-6870 — 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 Policy