Pitney Bowes focusing on “next chapter of revenue growth”
Pitney Bowes has reported a third quarter (Q3) 2017 revenue of $843m, which was flat compared to last year.
In a statement issued today (1 November), Marc B. Lautenbach, President and CEO, Pitney Bowes, said: “Our third quarter revenue performance was largely in-line with our expectations; however our bottom line results fell short as we continued to realign our businesses to higher growth areas and invest in new business opportunities, products and solutions.”
Looking to the future, Lautenbach added: “During the third quarter, we validated that the next chapter of revenue growth will come from shipping, parcels and address verification, all of which transcends our entire business. And while I was disappointed in our financial results in the third quarter, I am encouraged about our path forward as we continue to transform our company.”
Lautenbach also highlighted the recent acquisition of Newgistics, which he said “repositions the portfolio towards growth”.
“With the Board of Directors and management team continuing to focus on enhancing shareholder value,” continued Lautenbach, “we believe now is the time to explore a broad range of strategic alternatives that may have the potential to further unlock shareholder value.”
