Investor Relations

Investing in Pitney Bowes Inc. (NYSE: PBI)
Pitney Bowes, the mailstream technology company, is a global provider of hardware, software and services that help its customers manage the flow of information, mail, documents and packages.  For the calendar year 2007, Pitney Bowes generated $6.1 billion in revenue. 

At the end of 2000, Pitney Bowes launched its mailstream strategy.  Since then, Pitney Bowes has invested $2.5 billion in 85 acquisitions, of primarily software and services businesses.  The acquisitions have also broadened the company’s geographical presence and customer base.

From 2002 to 2007, adjusted earnings per share from continuing operations grew at a compound annual growth rate in excess of 7 percent.  On a Generally Accepted Accounting Principles (GAAP) basis, earnings per share from continuing operations declined at a compound annual growth rate of about 3% percent.  The decline in GAAP earnings per share was due primarily to approximately $290 million in charges for restructuring, asset impairments and tax adjustments, associated with the transition initiatives announced on November 15, 2007, and recorded during the fourth quarter of 2007.*

The company has consistently paid dividends during each of the past 26 years.  During the past five years, the company returned 100 percent of free cash flow to shareholders through a combination of dividends and share repurchases.

* For a reconciliation of GAAP earnings per share from continuing operations to adjusted earnings per share click here.