Pitney Bowes 2009 Annual Report Download - page 112

Download and view the complete annual report

Please find page 112 of the 2009 Pitney Bowes annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 124

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124

PITNEY BOWES INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Tabular dollars in thousands, except per share data)
94
21. Quarterly Financial Data (unaudited)
Summarized quarterly financial data for 2009 and 2008 follows:
2009
First
Quarter
Second
Quarter
Third
Quarter
Fourth
Quarter
Full
Year
Total revenue $ 1,379,584 $ 1,378,462 $ 1,356,820 $ 1,454,305 $ 5,569,171
Gross profit (1) 701,988 685,596 688,373 755,190 2,831,147
Restructuring charges and asset impairments - - 12,845 35,901 48,746
Income from continuing operations 106,300 116,731 110,278 119,713 453,022
Gain (loss) from discontinued operations,
net of income tax 2,623 5,102 (2,429) (13,405) (8,109)
Net income before attribution of
noncontrolling interests 108,923 121,833 107,849 106,308 444,913
Less: Preferred stock dividends of subsidiaries
attributable to noncontrolling interests 4,521 4,571 4,622 7,754 21,468
Pitney Bowes Inc. net income $ 104,402 $ 117,262 $ 103,227 $ 98,554 $ 423,445
Amounts attributable to Pitney Bowes Inc. common stockholders:
Income from continuing operations $ 101,779 $ 112,160 $ 105,656 $ 111,959 $ 431,554
Gain (loss) from discontinued operations 2,623 5,102 (2,429) (13,405) (8,109)
Pitney Bowes Inc. net income $ 104,402 $ 117,262 $ 103,227 $ 98,554 $ 423,445
Basic earnings per share of common stock attributable to Pitney Bowes Inc. common stockholders (2):
Continuing operations $ 0.49 $ 0.54 $ 0.51 $ 0.54 $ 2.09
Discontinued operations 0.01 0.02 (0.01) (0.06) (0.04)
Net Income $ 0.51 $ 0.57 $ 0.50 $ 0.48 $ 2.05
Diluted earnings per share of common stock attributable to Pitney Bowes Inc. common stockholders (2):
Continuing operations $ 0.49 $ 0.54 $ 0.51 $ 0.54 $ 2.08
Discontinued operations 0.01 0.02 (0.01) (0.06) (0.04)
Net Income $ 0.50 $ 0.57 $ 0.50 $ 0.47 $ 2.04
(1) Gross profit is defined as total revenue less cost of equipment sales, cost of supplies, cost of software, cost of rentals,
financing interest expense, cost of support services and cost of business services.
(2) The sum of the quarters and earnings per share amounts may not equal the annual and total amounts due to rounding.