Pitney Bowes ( PBI) posted a flat second quarter, but raised full-year sales guidance, citing recent acquisitions.The Stamford, Conn., mailstream company made $121 million, or 55 cents a share, from continuing operations for the quarter ended June 30 against the year-ago $121 million, or 53 cents a share. Revenue rose to $1.39 billion from $1.32 billion a year earlier. Excluding items in both periods, second-quarter earnings rose to 64 cents a share from 59 cents a year earlier. Last week Pitney completed the sale of its Capital Services external financing business to an affiliate of Cerberus Capital Management, resulting in a $477 million loss to discontinued operations. U.S. Mailing operations had second-quarter revenue growth of 1% to $568 million and earnings before interest and taxes growth of 4% to $234 million. There was strong growth in supplies and payment solutions, as the meter base continues to transition to new digital technology. However, revenue continued to be hit by the ongoing change to smaller more fully featured systems. In addition, the company experienced a delay in some anticipated orders and a higher-than-anticipated proportion of orders where revenue is recognized over time. International Mailing revenue grew 9% to $249 million, while EBIT fell 5% to $42 million. International Mailing revenue benefited from growth in Europe. Transitional expenses related to the consolidation and outsourcing of European and Canadian administrative functions adversely affected International Mailing EBIT. Pitney said it expects to make around 66 cents a share for the third quarter and $2.66 to $2.72 for the year, on an adjusted basis. Revenue should rise 6%-8% from a year ago for 2006. Shares fell 35 cents late Monday to $41.15.