Pitney Bowes Inc
Industry: Office Equipment

Pitney Bowes provides office technologies and services that help companies gain efficiencies and capitalize on opportunities. Our entire organization is focused on the application of practical, innovative business solutions. We engineer the flow of your business-critical communication so that you can concentrate on what you do best. Pitney Bowes solutions include a wide range of mailing and document technologies, efficiency management services and one-to-one management expertise. We started out as a simple postage meter company more than 80 years ago, but today we offer so much more.

Business Summary
Pitney Bowes Inc. is a provider of global, integrated mail and document management solutions for organizations of all sizes. Pitney Bowes Inc. operates in three segments: Global Mailstream Solutions, Global Enterprise Solutions and Capital Services. Global Mailstream Solutions segment includes worldwide revenue and related expenses from the rental of postage meters and the sale, rental and financing of mailing equipment, including mail finishing and mail creation equipment. Through the Global Enterprise Solutions segment, the Company sells, rents or finances its products. The Capital Services segment consists of financing for non-Pitney Bowes equipment. In December 2004, the Company acquired Groupe MAG, a distributor of finishing equipment used by commercial printers, and production mail equipment, software and service in France, Belgium and Luxembourg. In January 2005, the Company purchased Standard Register's equipment services business.

Financial Summary
Pitney Bowes and its subsidiaries operate in three primary areas: global mailing, enterprise solutions and capital services. For the 6 months ended 6/30/05, revenues rose 13% to $2.68B. Net income rose 10% to $288.6M. Revenues reflect the acquisition of PSI and the favorable impact of foreign exchange. Net income was partially offset by higher operating expenses as a percentage of sales and the inclusion of charitable contribution.