Imagistics posts fourth-qtr profit
February 06, 2003 00:27:00 AM ET
TRUMBULL, Conn., Feb 6 (Reuters) - Imagistics International Inc (IGI), which sells and rents copiers, on Thursday posted a fourth-quarter profit, due in part to lower expenses and sales in Canada.
The company, formerly Pitney Bowes Office Systems, reported fourth-quarter earnings were $4.1 million, or 22 cents per share, compared with a loss of $300,000, or one cent per share, for the fourth quarter of 2001. Total revenue rose one percent to $160.4 million from $158.8 million. Excluding an increase in revenue from sales to Pitney Bowes Canada, which has been operating under a re-seller agreement since the Imagistics spin-off from Pitney Bowes, total revenues for the fourth quarter fell three percent. The company said it saw 2003 EPS growth in excess of 20 percent to $1.05 per share. It expected growth in earnings per share to continue at this level in 2004 and beyond. REUTERS
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