Pitney Bowes Announces Second Quarter 2016 Financial Results

Production Mail

Equipment sales grew due to higher sorter equipment installations during the quarter. Support services and supplies revenue declined, in part, as a result of some in-house mailers shifting their mail processing to third party outsourcers and the recent market exits. EBIT margin improved from prior year driven by service delivery cost management initiatives.

Presort Services

Revenue benefited from the higher volume of First Class mail processed as well as expansion into new markets. This was partially offset by a decline in Standard mail volumes processed. EBIT margin declined versus the prior year primarily due to the USPS rate change and increased mail processing costs related to higher labor costs.

Digital Commerce Solutions Group

 
($ millions)     Second Quarter
   

Y/Y

Y/Y

Revenue

2016

2015

Reported

Ex Currency

Software Solutions $ 90 $ 99 (9 %) (7 %)
Global Ecommerce   105     78   35 % 36 %
Digital Commerce Total $ 196 $ 177 11 % 12 %
 

EBIT

Software Solutions $ 10 $ 16 (37

%)

 

Global Ecommerce   4     3   20

%

   

 

Digital Commerce Total $ 14 $ 19 (28

%)

 

 

 

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