Absolutely, Mr. Pitney

The mailing company matches targets for its fourth quarter.
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Pitney Bowes

(PBI) - Get Report

posted solid fourth-quarter numbers and offered guidance that was mostly in line with Wall Street's estimates.

For the quarter ended Dec. 31, the Stamford, Conn., mailing company made $94 million, or 41 cents a share, up from the year-ago $83 million, or 36 cents a share. Revenue rose to $1.46 billion from $1.36 billion a year earlier.

Excluding restructuring charges and an increase for tax reserves, earnings rose to 74 cents a share in the latest quarter from 71 cents a share a year ago, matching the Thomson First Call analyst consensus estimate.

"I am very pleased with our performance during the quarter which featured strong growth in revenue, earnings before interest and taxes (EBIT) and earnings per share," said CEO Michael Critelli. "I am also pleased with the progress we made throughout 2005 as successful execution of our growth strategies resulted in more solutions, for more customers, in more places worldwide. We are excited about the opportunities that lie before us in 2006 to participate in even more segments of the growing global mailstream and deliver even more value for our customers and shareholders."

The company guided toward adjusted earnings of 62 cents a share for the first quarter and $2.73 for the year, including 2 cents of stock option cost for the quarter and 8 or 9 cents for the year. Wall Street was looking for earnings of 65 cents a share for the quarter and $2.82 for the year.