Pitney Bowes Inc (NYSE:PBI)’s $400M management unit sale pitches it forward

Posted by Peter Lauro July 30, 2013 0 Comment 1066 views

Pitney Bowes Inc (NYSE:PBI) is a company that provides postal meters as well as other equipment. It has agreed to

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sell-out its management services unit to Apollo Management LLC for around $400M in cash. Post this news the company gained 12.77% and closed at $16.60 in Tuesday’s trading session, which has been its highest gain in six months. This year, PBI stock has climbed 56%. cialis over the counter The Connecticut-based company said that this transaction is projected to close in the Q4.

Improved scope

MU’s management services unit works cialis alcohol

with clients like levitra dosage the State of Indiana and McDonald’s Corp to boost efficiency. Now that the company is planning on selling this unit, it will have the scope to channelize its efforts on mail services as well as side effects clomid digital-commerce offerings.

Michael Monahan, PBI’s CFO said that this is just one of the strategic moves that the company is undertaking to realign the business. In an interview he said that Pitney Bowes Inc (NYSE:PBI) is going to scan the portfolio in entirety and take the decisions that they feel are appropriate.

Q2 financial report

On Tuesday, Pitney Bowes Inc (NYSE:PBI) reported a net loss for

the Q2. This was primarily due to goodwill impairment charges and the company also had an almost plateaued revenue. The net loss reported was $9.23M or $0.05/share in comparison with the $99.6M or $0.50/share that it stood at in the same period a year ago.

With the exclusion of the pre-tax goodwill impairment $98M charge as well as some other items, PBI reported earnings per share of $0.52. The average analyst earnings per share estimate was $0.43/share. Typically, analyst estimates exclude all one-time items. The Q2 revenue was $1.15B in comparison with the $1.16B that it levitrapharmacy-generic.com stood at in the same quarter in 2012. The average analyst’s revenue projection had been $1.19B.

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