Pitney Bowes Reports Slightly Lower 2010 Revenue but Remains Positive on Future
For the full year revenue was $5.4 billion, a decline of 3 percent when compared with the prior year, and adjusted earnings per diluted share from continuing operations was $2.23 compared with $2.28 for the prior year. GAAP earnings per diluted share was $1.41 for the full year compared with $2.04 for the prior year. GAAP earnings per diluted share for the year included a $0.59 charge for restructuring and asset impairment costs primarily associated with the company’s Strategic Transformation initiatives; a non-cash net tax charge of $0.13 primarily associated with out-of-the money stock options that expired during the year and healthcare legislation enacted at the beginning of the year; and a $0.09 loss associated with discontinued operations.
- Companies:
- Pitney Bowes
- Places:
- Stamford, Conn.
- United States