Pitney Bowes Inc. (NYSE:PBI) today announced that several recent actions
in Europe have advanced its long-term strategy to grow client and
shareholder value. The company exited a non-core product line in Norway,
transitioned to a dealer sales network for its mailing businesses in six
European markets where it had a smaller presence, and continued to shift
additional client accounts to inside sales channels in major European
markets. These moves enable the Company to simultaneously improve client
service for its entire portfolio throughout Europe in markets it serves
directly and those it serves indirectly through partners.
At the end of the second quarter the Company entered an agreement to
transfer a portion of its operations in Norway that sold and serviced
multi-functional devices and related software, AV equipment and retail
solutions. In September the Company transitioned its operations in
Austria, Belgium, Luxembourg, Netherlands, Portugal, and Spain to a
dealer network. Both of these actions are part of the Company’s
implementation of its new go-to-market strategies and geographic
coverage models. They allow the Company to deploy its resources in
Europe in a more effective way and bring more focus to its clients. In
aggregate these business activities accounted for more than $50 million
in revenue in 2013.
The Company is in the midst of a previously announced global, multi-year
transformation to deliver more value to clients and shareholders by
focusing on areas where it can lead and grow. The actions in Europe are
consistent with steps the Company is taking worldwide to align its
business portfolio, focus on core products, and enhance go-to-market
strategies and processes to enable the cost-efficient delivery of
products and services. Previously, for example, the company sold its
furniture operations in Norway and its portfolio of imaging equipment
and services in Canada.
Pitney Bowes Management is scheduled to discuss the company’s third
quarter results in a broadcast over the Internet at 8 am EDT on October
30th. Instructions for listening to the earnings results via
the Web are available on the Investor Relations page of the Company’s
web site at www.pb.com.
About Pitney Bowes
Pitney Bowes provides technology solutions for small, mid-size and large
firms that help them connect with customers to build loyalty and grow
revenue. Many of the company’s solutions are delivered on open platforms
to best organize, analyze and apply both public and proprietary data to
two-way customer communications. Pitney Bowes includes direct mail,
transactional mail and call center communications in its solution mix
along with digital channel messaging for the Web, email and mobile
applications.
This document contains “forward-looking statements” about its
expected or potential future business and financial performance. For us
forward-looking statements include, but are not limited to, statements
about its future revenue and earnings guidance and other statements
about future events or conditions. Forward-looking statements are not
guarantees of future performance and involve risks and uncertainties
that could cause actual results to differ materially from those
projected. These risks and uncertainties include, but are not limited
to: mail volumes; the uncertain economic environment; timely
development, market acceptance and regulatory approvals, if needed, of
new products; fluctuations in customer demand; changes in postal
regulations; interrupted use of key information systems; management of
outsourcing arrangements; the implementation of a new enterprise
resource planning system; changes in business portfolio; foreign
currency exchange rates; changes in our credit ratings; management of
credit risk; changes in interest rates; the financial health of national
posts; and other factors beyond its control as more fully outlined in
the Company's 2013 Form 10-K Annual Report and other reports filed with
the Securities and Exchange Commission. Pitney Bowes assumes no
obligation to update any forward-looking statements contained in this
document as a result of new information, events or developments.
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