{"id":20668,"date":"2012-02-10T13:40:00","date_gmt":"2012-02-10T13:40:00","guid":{"rendered":"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/pitney-bowes-q4-and-annual-results-for-2011\/20665\/"},"modified":"2012-02-10T13:40:00","modified_gmt":"2012-02-10T13:40:00","slug":"pitney-bowes-q4-and-annual-results-for-2011","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/pitney-bowes-q4-and-annual-results-for-2011\/20668\/","title":{"rendered":"Pitney Bowes &#8211; Q4 and Annual Results for 2011"},"content":{"rendered":"<p><script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"ca-pub-1408583772585547\";\n\/* SMW - News Links *\/\ngoogle_ad_slot = \"3490797620\";\ngoogle_ad_width = 468;\ngoogle_ad_height = 15;\n\/\/-->\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script><\/p>\n<p><!--Ad Injection mfunc mode ad include code--><!--mfunc include_once('\/mnt\/Target01\/327806\/www.thestockmarketwatch.com\/web\/content\/stock-market-news\/wp-content\/plugins\/ad-injection\/adshow.php') --><!--\/mfunc--><\/p>\n<p><strong><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/wp-content\/uploads\/2012\/02\/Pitney-Bowes.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-full wp-image-20669\" title=\"Pitney Bowes\" src=\"https:\/\/storage.googleapis.com\/smw-news-wp\/2012\/02\/Pitney-Bowes.png\" alt=\"\" width=\"207\" height=\"49\"><\/a>Pitney Bowes Inc. (<a href=\"https:\/\/thestockmarketwatch.com\/stock.aspx?stock=PBI\">NYSE: PBI<\/a>)<\/strong> today reported fourth quarter and full year 2011 results.<\/p>\n<p>Revenue for the quarter was $1.3 billion, a decline of 6.5 percent compared with the prior year. Currency had no impact on revenue during the quarter. When compared with the fourth quarter 2010, revenue was adversely impacted by lower SMB sales, some deferred large ticket enterprise deals, and continued economic and business uncertainty worldwide. Adjusted earnings per diluted share from continuing operations for the fourth quarter was $0.97 compared with $0.66 for the prior year. Adjusted earnings per share from continuing operations for the quarter included a net benefit of $0.37 per share related to a U.S. income tax settlement. Excluding that tax benefit adjusted earnings per share for the quarter was $0.61. During the quarter, the company and the IRS reached an agreement on the tax treatment of a number of issues, as well as revised tax calculations, related to the IRS examinations of tax years 2005 through 2008. Additionally, during the quarter, the IRS examinations of tax years 2001 through 2007 were concluded, particularly for items related to the company\u2019s former Capital Services business. As a result, in the fourth quarter, the company recorded a net tax benefit of $0.37 per share related to continuing operations, and a benefit of $1.04 per share for amounts related to discontinued operations.<\/p>\n<p>On a Generally Accepted Accounting Principles (GAAP) basis, the company reported earnings per diluted share of $1.28 including the tax benefit in discontinued operations for the fourth quarter, compared with $0.31 per diluted share for the prior year. GAAP earnings per diluted share for the quarter also included a $0.31 per share charge for restructuring costs and asset impairments primarily associated with the company\u2019s Strategic Transformation initiatives. In addition, there was a non-cash $0.41 per share goodwill impairment charge related to the company\u2019s international operations of Pitney Bowes Management Services, because of lower than expected growth, changing print demand, and a weaker economic outlook for European markets.<\/p>\n<p><!--mfunc adshow_display_ad_file_v2(array('ad_random_1.txt'), array(100), array('align' => 'float right', 'clear' => '', 'margin_top' => '', 'margin_bottom' => '', 'padding_top' => '', 'padding_bottom' => ''), array(), array()) --><\/p>\n<div style=\"float:right;margin-left:5px;\"><script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"ca-pub-1408583772585547\";\n\/* SMW - in News 300 *\/\ngoogle_ad_slot = \"5684630733\";\ngoogle_ad_width = 300;\ngoogle_ad_height = 250;\n\/\/-->\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script><\/div>\n<p><!--\/mfunc--><\/p>\n<p>For the full year, revenue was $5.3 billion, a decline of less than 3 percent when compared with the prior year, and just over a 4 percent decline excluding foreign exchange impacts. Adjusted earnings per diluted share from continuing operations was $2.70 compared with $2.23 for the prior year. Adjusted earnings per diluted share from continuing operations for the year included $0.44 per share related to tax settlements for tax years 2001 through 2008 in the U.S.<\/p>\n<p>More Posts by this author<\/p>\n<ul>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/recent-events\/business-news\/linkedin-shares-surge-on-q4-results-lnkd\/20722\"><br \/>\nLinkedIn Shares Surge on Q4 Results (LNKD)<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/recent-events\/business-news\/gold-prices-edge-lower\/20721\"><br \/>\nGold Prices Edge Lower<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/recent-events\/business-news\/alcatel-lucent-surges-on-q4-results-alu\/20688\"><br \/>\nAlcatel-Lucent Surges on Q4 Results (ALU)<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/market-updates\/stocks-end-lower-on-greece-worries-weak-economic-data\/20687\"><br \/>\nStocks End Lower on Greece Worries, Weak Economic Data<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/market-updates\/stocks-headed-for-a-lower-finish-after-three-straight-days-of-gains\/20682\"><br \/>\nStocks Headed for a Lower Finish after Three Straight Days of Gains<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/recent-events\/business-news\/gold-and-silver-prices-sharply-lower\/20677\"><br \/>\nGold and Silver Prices Sharply Lower<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/market-updates\/stocks-continue-to-slide-on-greek-debt-worries\/20676\"><br \/>\nStocks Continue to Slide on Greek Debt Worries<\/a><\/li>\n<\/ul>\n<hr>\n<table style=\"border:none;margin:0;\">\n<tr>\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n<img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/wp-content\/uploads\/2024\/08\/5.jpg\" alt=\"edliston\" width=\"125\" height=\"125\" class=\"photo\"><\/td>\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n<div style=\"font-size:11pt;\"><b>Post Written By: Ed Liston <\/b><\/div>\n<div style=\"font-size:10pt;\">\n<p>Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.\n<\/p><\/div>\n<\/td>\n<\/tr>\n<\/table>\n<p><script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"pub-1408583772585547\";\n\/* 336x280, created 7\/9\/11 *\/\ngoogle_ad_slot = \"3552319058\";\ngoogle_ad_width = 336;\ngoogle_ad_height = 280;\n\/\/-->\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script><\/p>\n<div style=\"margin:5px;margin-bottom:20px;font-size:11pt;\">&laquo; <a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/\">Return to Stock Market News<\/a> &laquo; <\/div>\n","protected":false},"excerpt":{"rendered":"<p>Pitney Bowes Inc. (NYSE: PBI) today reported fourth quarter and full year 2011 results. Revenue for the quarter was $1.3 [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":50312,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"rank_math_schema_Article":[],"rank_math_focus_keyword":[],"rank_math_description":[],"financial_data_references":[],"stock_symbols_mentioned":[],"footnotes":""},"categories":[3],"tags":[933],"class_list":["post-20668","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","tag-pbi"],"_links":{"self":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts\/20668","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/comments?post=20668"}],"version-history":[{"count":0,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts\/20668\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/media\/50312"}],"wp:attachment":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/media?parent=20668"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/categories?post=20668"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/tags?post=20668"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}