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Tuesday, November 03, 2009

Pitney Bowes Lifts Net Profit, Narrows Outlook

By Jim Jelter

MarketWatch Pulse

SAN FRANCISCO -- Pitney Bowes Inc. reported late Tuesday third-quarter net income rose to $103 million, or 50 cents a share, from $98 million, or 47 cents, a year ago. Excluding one-time items, earnings from ongoing operations fell to 55 cents a share from 67 cents. Revenue for the three months ended Sept. 30 fell 12% to $1.36 billion from $1.55 billion. Analysts surveyed by FactSet Research had predicted the Stamford, Conn.-based postage meter and mail management company would earn 57 cents a share on $1.41 billion in revenue. The company narrowed its full-year earnings outlook to $2.19 to $2.31 a share from a previous range of $2.09 to $2.21. Pitney Bowes shares rose 0.6% ahead of the report to close at $24.67. The stock is down 2.3% from where it traded 12 months ago.

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