Pitney Bowes Advances Long-Term Growth Strategy in Europe
October 21 2014 - 9:52AM
Business Wire
Company Implements Go-To-Market Changes and
Focuses Product Offerings to Unlock Greater Value
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.
For Pitney BowesEditorialSheryl Battles, 203-351-6808VP,
Financial CommunicationsorFinancialCharles F. McBride,
203-351-6349VP, Investor Relationswww.pitneybowes.com
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