Pitney Bowes Announces Third Quarter Results for 2011

The new Dallas presort facility achieved operational efficiency comparable to the company’s previous facility for the first time during the quarter. The presort operations were able to grow revenue, despite a final $2 million loss in revenue during the quarter associated with the Dallas fire. The company’s unique national network processed higher volumes of total mail, compared with the prior year, including higher volumes of standard mail. However, overall Mail Services revenue declined because of lower revenue at International Mail Services (IMS) due to fewer international shipments.

EBIT for the quarter more than doubled compared with the prior year. EBIT this quarter included $15 million of net insurance recoveries that neutralized the Dallas fire related losses in the first two quarters of the year. EBIT grew and EBIT margin improved versus the prior year, excluding the impact of this net recovery, because of presort network efficiency gains.

     

Marketing Services

             
3Q 2011 Y-O-Y Change Change ex Currency
Revenue $ 41 million 5% 5%
EBIT   $ 9 million   2%    
 

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