Pitney Bowes Reports Slightly Lower 2010 Revenue but Remains Positive on Future
International Mailing revenue grew both on a reported basis and excluding the impact of foreign currency when compared with the prior year. The segment also had a second consecutive quarter of year-over-year equipment sales growth, helped by sales of the new Connect+ mailing system, which was introduced in the UK during the quarter. The Connect+ mailing system will be rolled-out to other parts of Europe and Canada throughout 2011. Revenue also had a modest benefit from the initial placements of recently approved meter systems in Italy and growth in meters in service in Canada, both of which are expected to generate additional revenues in the future. Additionally, there was growth in support services revenue during the quarter. As in the U.S., financing revenue declined as a result of lower equipment sales in prior periods. EBIT declined versus the prior year in part due to mix of revenue and higher pension costs versus the prior year.
Enterprise Business Solutions
- Companies:
- Pitney Bowes
- Places:
- Stamford, Conn.
- United States