COMPUTATION OF EARNINGS PER SHARE
Published on
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Pitney Bowes Inc. - Form 10-Q Exhibit (i)
Three Months Ended March 31, 1995
Page 15 of 17
Pitney Bowes Inc.
Computation of Earnings per Share
Three Months Ended March 31,
(Dollars in thousands, except per share data) 1995 1994(1)
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Primary
Income from continuing operations (2) $ 95,989 $ 81,607
Discontinued operations 10,322 10,254
Effect of accounting change - (119,532)
Net income (loss) applicable to common stock $ 106,311 $ (27,671)
Weighted average number of common shares
outstanding 151,117,351 158,151,500
Preference stock, $2.12 cumulative
convertible 812,206 869,500
Stock option and purchase plans 136,653 648,700
Total common and common equivalent shares
outstanding 152,066,210 159,669,700
Income per common and common equivalent share -
primary:
Continuing operations $ .63 $ .51
Discontinued operations .07 .07
Effect of accounting change - (.75)
Net income (loss) $ .70 $ (.17)
Fully Diluted
Income from continuing operations $ 95,989 $ 81,608
Discontinued operations 10,322 10,254
Effect of accounting change - (119,532)
Net income (loss) applicable to common stock $ 106,311 $ (27,670)
Weighted average number of common shares
outstanding 151,117,351 158,151,500
Preference stock, $2.12 cumulative
convertible 812,206 869,500
Stock option and purchase plans 168,807 676,275
Preferred stock, 4% cumulative convertible 11,550 16,568
Total common and common equivalent shares
outstanding 152,109,914 159,713,843
Income per common and common equivalent share -
fully diluted:
Continuing operations $ .63 $ .51
Discontinued operations .07 .07
Effect of accounting change - (.75)
Net income (loss) $ .70 $ (.17)
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(1)Reclassified to reflect discontinued operations.
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(2)Income from continuing operations was adjusted for preferred
dividends.
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