Pitney Bowes 2011 Annual Report Download - page 105

Download and view the complete annual report

Please find page 105 of the 2011 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 120

  • 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

PITNEY BOWES INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Tabular dollars in thousands, except per share data)
87
2010
First
Quarter Second
Quarter Third
Quarter Fourth
Quarter
Total revenue $ 1,348,233 $ 1,297,237 $ 1,345,742 $ 1,434,042
Cost of revenue (1) 656,445 651,930 666,330 703,618
Selling, general and administrative 443,297 426,352 435,292 455,736
Research and development 40,865 38,168 38,454 38,884
Restructuring charges and asset impairments 20,722 48,512 33,805 79,235
Other, net 26,896 28,508 28,917 28,711
Income from continuing operations before taxes 160,008 103,767 142,944 127,858
Provision for income taxes 73,245 35,177 46,880 50,468
Income from continuing operations 86,763 68,590 96,064 77,390
Loss from discontinued operations (3,130) (2,666) (2,536) (9,772)
Net income before attribution of
noncontrolling interests 83,633 65,924 93,528 67,618
Less: Preferred stock dividends of subsidiaries
attributable to noncontrolling interests 4,594 4,543 4,593 4,594
Net income – Pitney Bowes Inc. $ 79,039 $ 61,381 $ 88,935 $ 63,024
Amounts attributable to common stockholders:
Income from continuing operations $ 82,169 $ 64,047 $ 91,471 $ 72,796
Loss from discontinued operations (3,130) (2,666) (2,536) (9,772)
Net income – Pitney Bowes Inc. $ 79,039 $ 61,381 $ 88,935 $ 63,024
Basic earnings per share attributable to common stockholders (2):
Continuing operations $ 0.40 $ 0.31 $ 0.44 $ 0.36
Discontinued operations (0.02) (0.01) (0.01) (0.05)
Net income – Pitney Bowes Inc. $ 0.38 $ 0.30 $ 0.43 $ 0.31
Diluted earnings per share attributable to common stockholders (2):
Continuing operations $ 0.40 $ 0.31 $ 0.44 $ 0.36
Discontinued operations (0.02) (0.01) (0.01) (0.05)
Net income – Pitney Bowes Inc. $ 0.38 $ 0.30 $ 0.43 $ 0.31
(1) Includes 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 quarterly earnings per share amounts may not equal the quarterly total or annual amount due to rounding.