Pitney Bowes Announces Third Quarter Results for 2011

During the quarter, Production Mail expanded its installed base of Intellijet™ color production printing systems. However, revenue declined year-over-year for the first time in five quarters, as Enterprise customers postponed their capital investment decisions due to concerns about the economy and there were delays in some equipment installations.

EBIT declined during the quarter primarily because of the continued planned investment in Volly and the decline in revenue.



3Q 2011 Y-O-Y Change Change ex Currency
Revenue $ 109 million 15% 11%
EBIT   $ 17 million   119%    

During the quarter, the Software business continued to experience strong demand for its software solutions, including data management, analytics and location intelligence, particularly in the Americas and Asia Pacific. As a result, revenue increased versus the prior year as the company increased sales of its customer communications software licenses. The company continued its transition to multi-year pricing arrangements for selected software licenses, which will provide more predictable revenue streams in the future.

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