Pitney Bowes Announces First Quarter 2013 Results


	Pitney Bowes Inc. Revenue and EBIT Business Segments March 31, 2013 (Unaudited)

(Dollars in thousands)		Three Months Ended March 31,
		2013			2012			% Change
	Revenue

	North America Mailing	$	430,375		$	461,305		(7	%)
	International Mailing		167,455			168,014		(0	%)
	Small & Medium Business Solutions		597,830			629,319		(5	%)

	Production Mail		118,802			115,016		3	%
	Software		80,721			100,327		(20	%)
	Management Services		225,256			230,630		(2	%)
	Mail Services		118,855			114,636		4	%
	Marketing Services		25,492			30,208		(16	%)
	Enterprise Business Solutions		569,126			590,817		(4	%)

	Total Revenue	$	1,166,956		$	1,220,136		(4	%)

	EBIT (1)

	North America Mailing	$	154,505		$	178,171		(13	%)
	International Mailing		17,749			19,997		(11	%)
	Small & Medium Business Solutions		172,254			198,168		(13	%)

	Production Mail		3,055			2,779		10	%
	Software		4,890			10,692		(54	%)
	Management Services		12,545			13,315		(6	%)
	Mail Services		19,349			34,245		(43	%)
	Marketing Services		1,986			4,817		(59	%)
	Enterprise Business Solutions		41,825			65,848		(36	%)

	Total EBIT	$	214,079		$	264,016		(19	%)

	Unallocated amounts:
	Interest, net		(48,866	)		(48,773	)
	Corporate and other expenses		(63,502	)		(54,214	)

	Income from continuing operations before income taxes	$	101,711		$	161,029

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

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