Last $27.05 USD
Change Today +0.055 / 0.20%
Volume 218.4K
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pitney bowes inc (PBI) Key Developments

Pitney Bowes Inc. Declares Common, Preference and Preferred Stock Dividends, Payable on September 12, 2014, October 1, 2014 and November 1, 2014, Respectively

Pitney Bowes Inc. announced that its Board of Directors has declared a quarterly cash dividend on the company's common stock of $0.1875 cents per share. The dividend will be paid on September 12, 2014, to stockholders of record on August 22, 2014. In addition, a quarterly cash dividend of $0.53 cents per share on the company's $2.12 convertible preference stock, will be paid on October 1, 2014, to stockholders of record September 12, 2014, and a quarterly cash dividend of $0.50 cents per share on the company's 4% convertible cumulative preferred stock will be paid on November 1, 2014, to stockholders of record October 15, 2014.

Pitney Bowes Inc. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Revised Earnings Guidance for 2014

Pitney Bowes Inc. announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, total revenue was $958,450,000, income from continuing operations before income taxes was $138,477,000, income from continuing operations was $92,142,000 and net income - Pitney Bowes Inc. was $94,265,000 or $0.46 per diluted share against total revenue of $950,662,000, income from continuing operations before income taxes of $108,833,000, income from continuing operations of $84,615,000 and net loss - Pitney Bowes Inc. of $9,233,000 or $0.05 per diluted share a year ago. Net income attributable to common stockholders from continuing operations was $87,548,000 or $0.43 per diluted share against $80,021,000 or $0.39 per diluted share a year ago. Income from continuing operations after income taxes, as adjusted was $93,125,000 or $0.46 per diluted share against $93,147,000 or $0.46 per diluted share a year ago. Free cash flow, as adjusted was $162,320,000 against $124,391,000 a year ago. Income from continuing operations before income taxes, as adjusted was $146,776,000 against $127,864,000 a year ago. Adjusted EBIT from continuing operations was $188,671,000 against $176,860,000 a year ago. Adjusted EBITDA from continuing operations was $237,793,000 against $229,527,000 a year ago. Free cash flow for the quarter was $162 million, while on a GAAP basis the Company generated $175 million in cash from operations. GAAP earnings per share from continuing operations included restructuring charges of $0.03 per share associated with previously announced cost reduction plans. For the six months, total revenue was $1,895,947,000, income from continuing operations before income taxes was $192,979,000, income from continuing operations was $138,608,000 and net income - Pitney Bowes Inc. was $138,938,000 or $0.68 per diluted share against total revenue of $1,860,025,000, income from continuing operations before income taxes of $190,698,000, income from continuing operations of $148,685,000 and net income - Pitney Bowes Inc. of $58,273,000 or $0.29 per diluted share a year ago. Net income attributable to common stockholders from continuing operations was $129,420,000 or $0.63 per diluted share against $139,497,000 or $0.69 per diluted share a year ago. Income from continuing operations after income taxes, as adjusted was $179,511,000 or $0.88 per diluted share against $167,948,000 or $0.83 per diluted share a year ago. Free cash flow, as adjusted was $299,928,000 against $231,781,000 a year ago. Income from continuing operations before income taxes, as adjusted was $272,776,000 against $234,851,000 a year ago. Adjusted EBIT from continuing operations was $358,388,000 against $331,857,000 a year ago. Adjusted EBITDA from continuing operations was $451,251,000 against $435,056,000 a year ago. Based on results year-to-date and the outlook for the remainder of the year, the Company is increasing annual guidance for revenue growth and adjusted earnings per share from continuing operations and narrowing the range for GAAP earnings per share from continuing operations. The Company is reaffirming annual guidance for free cash flow. The Company now expects: Revenue to be in the range of 1% to 3% growth when compared to the prior year versus the 1% decline to 2% growth range previously expected. Guidance excludes the impacts of currency and reflects the expected ongoing stabilization of the mail-related businesses, as well as continued growth in Digital Commerce Solutions; Adjusted earnings per share from continuing operations to be in the range of $1.80 to $1.90 versus the range of $1.75 to $1.90 previously expected. GAAP earnings per share from continuing operations to be in the range of $1.55 to $1.65 versus the range of $1.53 to $1.68 previously expected. Free cash flow to be in the range of $475 million to $575 million. The company announced that the effective tax rate on adjusted earnings for the quarter was 33.4%, compared to 23.6% in the second quarter last year. The current quarter's tax rate is higher than the rate it might expect for the full year, as a result of the business mix in the quarter. However, the year-to-date tax rate of 30.8% is within the expected range of 29% to 31%.

Pitney Bowes Inc., Q2 2014 Earnings Call, Jul 30, 2014

Pitney Bowes Inc., Q2 2014 Earnings Call, Jul 30, 2014

Pitney Bowes and Willis Group Holdings plc Extends Contract for Pitney Bowes's Spectrum Data Management Solution

Pitney Bowes announced that Willis Group Holdings plc has extended its contract for Pitney Bowes’ Spectrum data management solution. With the extension, Willis will expand its use of Pitney Bowes’ Spectrum Enterprise Geocoding Module and Spectrum Location Intelligence Module across more business units and for additional global risk management applications. As a global risk adviser, insurance and reinsurance broker, Willis’s core business depends on highly accurate data that is used to produce comprehensive and precise risk profiles for properties around the world. With teams across the globe running risk analyses requiring the daily geocoding and cleansing of millions of address records, Willis turned to Pitney Bowes’ Spectrum platform for its leading global coverage, processing performance and system integration capabilities. Since deploying Spectrum, Willis has made significant improvements to streamline geocoding processes, improve data quality and accelerate catastrophe modelling by allowing more employees globally to access one consistent and accurate set of location information. These enhanced abilities have helped Willis achieve tangible process improvements, including: - Simplifying geocoding workflow. Reducing the average time needed to geocode a portfolio of risks. Improving geocoding accuracy and consistency. Decreasing time spent manually improving data quality. Enabling easy integration of existing workflow, GIS tools, and analytical platforms. Extending Willis’s capability to offer high resolution geocoding for worldwide coverage. Enriching location data with facts such as historical postcodes, FIPS codes and Cresta zones. Enhancing Willis’s client service offerings, through a unique arrangement with Pitney Bowes, to advance geocoding capabilities within SpatialKey and Willis’s other client-facing systems. Willis has also started using the Spectrum platform to improve its own internal operations; the platform has been used for applications from the geocoding of Willis assets through to running compliance checks for identification of customer insurance policies affected by sanctions, embargoes and restricted territories.

Pitney Bowes and DocuConsulting Partner to Create Richer Document Solutions for Customer Engagement

Pitney Bowes Inc. announced a new partnership with DocuConsulting. Together, the two companies will provide the most comprehensive document generation solutions that simplify the often tangled process of policy creation and delivery. To help clients modernize their document generation systems, Pitney Bowes is announcing "Fast Path to Engagement," a holistic program that enables insurers to modernize their customer communication capabilities by moving off legacy systems with a step by step approach. Through this program, a new conversion utility will be introduced that will extract legacy data, forms and content, quickly and safely transforming it into a format that can be leveraged by Pitney Bowes' EngageOne Communication Suite by the end of the year. To start, DocuConsulting will help clients migrate off of old or unsupported document generation solutions. Then, the program will address other legacy systems and new migration utility tools will extend to other solutions. Pitney Bowes offers integrated software capabilities including data management, analytics and customer engagement, including document generation, to help drive more interaction and deeper relationships. The company's software helps enable digital delivery to reduce costs. In addition, it helps insurers better communicate with their policy holders across all channels, integrating every touch point, creating a richer customer experience that builds customer trust and loyalty. Working in partnership with DocuConsulting, Pitney Bowes can leverage the firm's expertise in implementing and migrating critical applications such as policy production, correspondence, statements, claims documents and more onto modern platforms.

 

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