Equipment sales declined largely due to lower sales in the top of the line products and a lower level of client lease extensions. Recurring revenue streams declined, largely around financing, rentals and service revenues. EBIT and EBITDA margins were lower than prior year largely due to the decline in recurring streams and equipment sales mix, but partially offset by lower expenses.

International Mailing

Revenue increased as reported but declined at constant currency. Equipment sales benefited from growth in Germany and France, but was offset by a decline largely in the UK. EBIT and EBITDA margins improved versus prior year primarily driven by lower expenses.