Pitney Bowes Announces Second Quarter 2013 Results


Pitney Bowes Inc.
Revenue and EBIT
Business Segments
June 30, 2013
(Unaudited)

(Dollars in thousands)		Three Months Ended June 30,
			2013			2012		% Change
	Revenue

	North America Mailing	$	432,889			453,484		(5	%)
	International Mailing		164,556			165,480		(1	%)
	Small & Medium Business Solutions		597,445			618,964		(3	%)

	Production Mail		144,986			123,067		18	%
	Software		92,242			99,874		(8	%)
	Management Services		174,708			180,562		(3	%)
	Mail Services		119,058			108,045		10	%
	Marketing Services		29,768			35,845		(17	%)
	Enterprise Business Solutions		560,762			547,393		2	%

	Total revenue	$	1,158,207			1,166,357		(1	%)

	EBIT (1)

	North America Mailing	$	166,363		$	167,870		(1	%)
	International Mailing		19,285			21,758		(11	%)
	Small & Medium Business Solutions		185,648			189,628		(2	%)

	Production Mail		13,617			5,594		143	%
	Software		15,729			8,487		85	%
	Management Services		14,735			14,222		4	%
	Mail Services		15,484			28,464		(46	%)
	Marketing Services		4,181			7,503		(44	%)
	Enterprise Business Solutions		63,746			64,270		(1	%)

	Total EBIT	$	249,394		$	253,898		(2	%)

	Unallocated amounts:
	Interest, net (2)		(49,843	)		(48,992	)
	Corporate and other expenses		(51,221	)		(44,349	)
	Restructuring and asset impairments		(19,955	)		585
	Goodwill impairment		(97,787	)		-

	Income from continuing operations before income taxes	$	30,588		$	161,142

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

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