Tag: USA

Michael J. Critelli, chairman and CEO of Pitney Bowes Inc, stated that in the future, the mail stream would provide higher value to business, while becoming more affordable, accessible, information-rich and secure.

During a presentation hosted by the Prudential Equity Group, Critelli also cited a recent report by the bi-partisan commission on the U.S. Postal Service established by President Bush that “validates Pitney Bowes’ vision about the on-going importance of mail in American life and commerce, and the application of technology to make it even more valuable in the future.”

The Postal Service expects to end this fiscal year $4.2 billion in the black, allowing it to pay off a substantial amount of debt.

Chief Financial Officer Richard Strasser said the financial plan is to reduce debt by $3.8 billion this year to $7.3 billion.

The Postal Service expects to end this fiscal year $4.2 billion in the black, allowing it to pay down a substantial amount of debt.

Chief Financial Officer Richard Strasser said the financial plan is to reduce debt by $3.8b this year to $7.2b.

In addition, the agency expects a $2.1b net income for the 2004 fiscal year, which begins in October, allowing further reduction in debt, Strasser told the agency’s Board of Governors.