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BUSINESS PRODUCTS & SERVICES | Advertising, Marketing & PR
imagitas.com

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Founded Year

1992

Stage

Acquired - II | Acquired

Total Raised

$46.57M

Valuation

$0000 

Revenue

$0000 

About Imagitas

Imagitas forms strategic partnerships with organizations such as Departments of Motor Vehicles and the U.S. Postal Service, that are looking to improve customer communication and provide customers with alternative options for completing required processes remotely. Imagitas creates information-packed kits to guide recipients through designated processes including mail-in forms, valuable information about how to complete the process and interact with the organization, and relevant offers from co-marketing partners of Imagitas across a broad range of industries such as retail, automotive and financial services.

Imagitas Headquarter Location

48 Woerd Avenue Suite 101

Waltham, Massachusetts, 02453,

United States

781-906-4500

Latest Imagitas News

Pitney Bowes Announces Second Quarter 2015 Financial Results

Jul 31, 2015

Pitney Bowes Announces Second Quarter 2015 Financial Results 7/30/15 STAMFORD, Conn.--( BUSINESS WIRE )-- Pitney Bowes Inc. (NYSE:PBI), a global technology company that provides products and solutions that power commerce, today reported financial results for the second quarter 2015. Quarterly Financial Results: Revenue of $881 million, a decline of 4 percent on a constant currency basis and a decline of 8 percent as reported. Revenue declined 3 percent versus the prior year when adjusted for the impacts of currency and the divestiture of certain European revenue streams in the prior year. Adjusted EPS of $0.45; GAAP EPS of $0.75. Adjusted EPS includes a $0.02 negative impact for currency translation during the quarter. Free cash flow of $84 million; GAAP cash from operations of $96 million. Established new segment reporting. Increasing annual GAAP EPS guidance as a result of the net gain on the sale of Imagitas; partially offset by costs associated with the Borderfree acquisition; restructuring and asset impairment charges; and other expenses. Updating revenue guidance to reflect results year-to-date. Updating annual adjusted EPS and free cash flow guidance solely to reflect the impacts of the Borderfree acquisition and Imagitas sale. Transactions Completed During the Quarter Acquisition of Borderfree for approximately $400 million, inclusive of transaction fees and net of cash on Borderfree’s balance sheet. Sale of the Marketing Services business, Imagitas, which will generate net proceeds of approximately $270 million, net of transaction fees, cash on their balance sheet and taxes when paid. Sale of former World Headquarters building for $39 million. “We are at an inflection point in our transformation where the cumulative effects of the steps we have taken over the past 30 months position us for long-term growth and profitability,” said Marc B. Lautenbach, President and CEO of Pitney Bowes. “While we continued to make progress on our way to transform Pitney Bowes, our second quarter financial results were mixed. Our Presort Services business performed well and our North American Small and Medium Business continued to improve. However, growth in our Ecommerce business was negatively affected by the strong dollar and our performance in Europe was below our expectations. “That said, the actions we have taken over the last two years have strengthened our hand and improved our competitive position. As a result, we are poised for sustained improvement in the second half and beyond. For this reason, we will begin executing our authorized share repurchase program with the intent to complete the program by the end of this year.” SECOND QUARTER 2015 – REVENUE RESULTS Revenue totaled $881 million, a decline of 4 percent on a constant currency basis and 8 percent on a reported basis versus the prior year. For comparative purposes, revenue would have declined 3 percent compared to the prior year when the current and prior periods are adjusted for the impacts of currency and the reduction in revenue resulting from the exit of direct operations in some European countries that we completed in the third quarter of 2014. Digital Commerce Solutions revenue, which excludes marketing services from both periods, grew 4 percent on a constant currency basis and was flat to prior year on a reported basis. Revenue on a constant currency basis benefited from growth in ecommerce and shipping solutions, which was offset by a decline in software solutions. Enterprise Business Solutions revenue declined 2 percent on a constant currency basis and 5 percent on a reported basis. Revenue benefited from continued growth in Presort Services while revenue in Production Mail declined. Small and Medium Business (SMB) Solutions revenue declined 6 percent on a constant currency basis and 11 percent on a reported basis. For comparative purposes, revenue would have declined 4 percent when adjusted for the impacts of currency and the divested revenues in Europe from the prior year. Other revenue, which was primarily attributable to marketing services, declined 26 percent when compared to the prior year. The decline is a result of only two months of reported revenue this quarter due to the sale of this business completed in May versus a full quarter of revenue in the prior year. SECOND QUARTER 2015 - EPS RESULTS On a Generally Accepted Accounting Principles (GAAP) basis, earnings per diluted share were $0.75. Adjusted earnings per diluted share were $0.45 and exclude: $0.44 per share of Other income due to the net gain from the sale of Imagitas; $0.05 per share of Other expense for the resolution in principle of an outstanding legal matter and transaction costs and fees related to the Borderfree and Imagitas transactions; $0.04 per share of compensation expense related to the vesting of options associated with the Borderfree acquisition; and $0.04 per share for Restructuring and asset impairment charges. The Company achieved its earnings per share despite the inclusion of $0.03 in reductions related to currency translation, loss of one month of Imagitas earnings and one month of amortization of intangibles related to Borderfree. The Company continued to reduce SG&A versus the prior year despite on-going investments in the business. SECOND QUARTER 2015 - FREE CASH FLOW RESULTS Free cash flow during the quarter was $84 million and $96 million on a GAAP basis. In comparison to the prior year, second quarter free cash flow was lower primarily due to the timing of working capital requirements; lower Reserve Account deposits and less of a decline in finance receivables as a result of a stabilizing portfolio. During the quarter, the Company used cash to pay $47 million in dividends to its shareholders, made $9 million in restructuring payments and received $39 million of cash related to the sale of our former World Headquarters building. BUSINESS SEGMENT REPORTING The Company has revised its business segment reporting for its Digital Commerce Solutions segment. The Company’s business segment reporting reflects the clients served in each market and the way it manages these segments for growth and profitability. The reporting segment groups are the SMB Solutions group; the Enterprise Business Solutions group; the Digital Commerce Solutions group; and the Other segment. The SMB Solutions group offers mailing equipment, financing, services and supplies for small and medium businesses to efficiently create mail and evidence postage. This group includes the North America Mailing and International Mailing segments. North America Mailing includes the operations of U.S. and Canada Mailing. International Mailing includes all other SMB operations around the world. The Enterprise Business Solutions group provides mailing and printing equipment and services for large enterprise clients to process mail, including sortation services to qualify large mail volumes for postal worksharing discounts. This group includes the global Production Mail and Presort Services segments. 2015 GUIDANCE This guidance discusses future results, which are inherently subject to unforeseen risks and developments. As such, discussions about the business outlook should be read in the context of an uncertain future, as well as the risk factors identified in the safe harbor language at the end of this release and as more fully outlined in the Company's 2014 Form 10-K Annual Report and other reports filed with the Securities and Exchange Commission . The Company expects trends in the business to improve in the second half of the year versus the first half of the year as a result of recent actions taken to position the portfolio for growth, including go-to-market improvements, new product launches, client wins and partnerships. Based on year-to-date results and the Company’s expectation of constant currency revenue growth of 1 percent to 5 percent in the second half of the year, the Company is adjusting its annual revenue guidance. The Company now expects revenue to be in the range of a 1 percent decline to 1 percent growth when compared to 2014 on a constant currency basis. The Company is increasing its annual GAAP EPS guidance to be in the range of $2.06 to $2.21. This guidance includes the following: $0.44 per share of Other income related to the net gain from the sale of Imagitas; $0.05 per share of Other expense for the resolution in principle of an outstanding legal matter and transaction costs and fees related to the Borderfree and Imagitas transactions; $0.04 per share of Restructuring and asset impairment charges; $0.04 per share of compensation expense related to the vesting of options associated with the Borderfree acquisition; $0.06 per share of reduced earnings as a result of the sale of Imagitas; and $0.04 per share of reduced earnings related to Borderfree, which includes principally amortization of intangibles and integration investments net of early savings from expected synergies. The Company is updating its adjusted EPS and free cash flow guidance solely to reflect the impacts of the Borderfree acquisition and Imagitas sale. Adjusted EPS is now expected to be in the range of $1.75 to $1.90. Free cash flow is now expected to be in the range of $450 million to $525 million. This guidance excludes any unusual items that may occur or additional portfolio or restructuring actions, not specifically identified, as the Company implements plans to further streamline its operations and reduce costs. About Pitney Bowes Pitney Bowes (NYSE: PBI) is a global technology company offering innovative products and solutions that enable commerce in the areas of customer information management, location intelligence, customer engagement, shipping and mailing, and global ecommerce. More than 1.5 million clients in approximately 100 countries around the world rely on products, solutions and services from Pitney Bowes. For additional information, visit Pitney Bowes at www.pitneybowes.com . Stories you Need to Know Stories you Need to Know It's on us. Share your news here.

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Imagitas Patents

Imagitas has filed 2 patents.

patents chart

Application Date

Grant Date

Title

Related Topics

Status

7/29/2003

8/30/2011

Network protocols, Application programming interfaces, Virtual private networks, Computer network security, Social networking services

Grant

00/00/0000

00/00/0000

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Application Date

7/29/2003

00/00/0000

Grant Date

8/30/2011

00/00/0000

Title

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Related Topics

Network protocols, Application programming interfaces, Virtual private networks, Computer network security, Social networking services

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Status

Grant

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