Pitney Bowes Announces Second Quarter Results for 2012


Pitney Bowes Inc.
Revenue and EBIT
Business Segments
June 30, 2012
(Unaudited)

(Dollars in thousands)	Three Months Ended June 30,
							%
	2012			2011			Change
Revenue

North America Mailing	$	453,484			493,653		(8	%)
International Mailing		165,480			176,158		(6	%)
Small & Medium Business Solutions		618,964			669,811		(8	%)

Production Mail		123,067			133,769		(8	%)
Software		99,874			99,783		0	%
Management Services		227,561			240,461		(5	%)
Mail Services		140,507			134,273		5	%
Marketing Services		35,845			36,377		(1	%)
Enterprise Business Solutions		626,854			644,663		(3	%)

Total revenue	$	1,245,818			1,314,474		(5	%)

EBIT (1)

North America Mailing	$	167,870		$	175,786		(5	%)
International Mailing		21,758			26,735		(19	%)
Small & Medium Business Solutions		189,628			202,521		(6	%)

Production Mail		5,594			9,223		(39	%)
Software		8,487			9,542		(11	%)
Management Services		12,606			19,979		(37	%)
Mail Services		27,085			9,819		176	%
Marketing Services		7,503			6,792		10	%
Enterprise Business Solutions		61,275			55,355		11	%

Total EBIT	$	250,903		$	257,876		(3	%)

Unallocated amounts:
Interest, net (2)		(48,992	)		(48,527	)
Corporate and other expenses		(44,349	)		(45,179	)
Restructuring and asset impairments		(1,074	)		(4,994	)

Income from continuing operations before income taxes	$	156,488		$	159,176

⁽¹⁾	Earnings before interest and taxes (EBIT) excludes general corporate expenses and restructuring charges and asset impairments.
⁽²⁾	Interest, net includes financing interest expense, other interest expense and interest income.

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