Pitney Bowes Announces Full Year and Fourth Quarter 2017 Financial Results

North America Mailing

Equipment sales grew largely due to performance of the new SendPro C-Series product, but was partially offset by lower tabletop inserter sales. Recurring revenue streams declined, largely around financing, rentals and service revenues. EBIT margin was lower than prior year largely due to the decline in recurring revenue streams.

International Mailing

Revenue declined primarily due to lower equipment sales. Equipment sales declined in the UK and the Nordics and was partially offset by growth in Australia and Japan. EBIT margin increased slightly from prior year due to lower expenses.

Enterprise Business Solutions Group

($ millions)       Fourth Quarter
Revenue

2017

   

2016

   

Y/Y

Reported

   

Y/Y

Ex Currency

Production Mail $128 $115 11% 8%
Presort Services

128

118

8%

8%

Enterprise Business $256 $233 10% 8%
 
EBIT
Production Mail $19 $19 2%
Presort Services

28

26

8%

Enterprise Business $47 $45 6%
 

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