We have improved our end to end cycle times by 25% and since the beginning of the year, which is a significant improvement.
Total revenue for the third quarter was $875 million and declined 2% from prior year.
When we compare this year's third quarter to the third quarter of 2019, in other words, pre-COVID, our 2021 revenue grew over 10%, which illustrates that the bulk of the top line gains we made last year remain intact.
Adjusted earnings per share was $0.08, and GAAP earnings per share was $0.05.
EPS includes a $0.02 net tax benefit offset by a $0.03 charge related to a specific pricing assessment in Global Ecommerce, which I will discuss momentarily.
Free cash flow was $30 million, and cash from operations was $71 million, down from prior year, largely due to higher Capex and changes in working capital, which are in line with our previous commentary on this topic.
During the quarter, we paid $9 million in dividends and made $6 million in restructuring payments.
We spent $57 million in Capex, as we continue to enhance our Ecommerce network and drive productivity initiatives in both our Ecommerce and Presort businesses.
We ended the quarter with $743 million in cash and short-term investments.
During the quarter, we redeemed our 2022 notes for $72 million.
Notably, total debt has declined about $225 million since year-end 2020 to $2.3 billion.
When you take our finance receivables, cash and short-term investments into consideration, our implied operating company debt is $556 million.
Equipment Sales grew 4%.
We had declines in Business Services of 1%, Support Services and Supplies of 4%, Rentals of 5% and Financing of 17%.
Gross profit was $286 million and improved across our Ecommerce and Presort segments.
Gross margin of 33% was flat to prior year.
SG&A was $225 million and approximately $14 million lower year-over-year.
SG&A was 26% of revenue, which is a 100 basis point improvement over prior year.
Within SG&A, corporate expenses were $49 million, $4 million lower than prior year largely due to variable employee-related costs.
R&D was $11 million or 1% of revenue.
EBITDA was $92 million, and EBITDA margin was 10.5%, both of which were relatively flat to prior year.
EBIT of $50 million was down about $4 million from prior year, while EBIT margin of 6% was flat to prior year.
Total interest expense was $36 million, down $3 million year-over-year.
Our tax rate of 1% includes net benefits associated with the resolution of tax matters.
Shares outstanding were approximately 179 million.
Within Ecommerce, revenue in the quarter declined 4% to $398 million.
If you compare this quarter to third quarter of 2019, revenues for the Ecommerce segment are up over 40%.
Domestic Parcel volumes were 41 million in the quarter, down from prior year on a tough compare, but up from 2019 levels.
Demand for our services continues to be strong, as we signed over 130 client deals in the quarter and were able to bundle additional services with 40% of those signings.
Gross margin improved 100 basis points from prior year despite higher labor and transportation cost and inclusive of the previously mentioned pricing assessment.
EBITDA for the quarter was breakeven, which is an improvement of $3 million versus the same period last year.
EBIT was a loss of $21 million.
As I referenced earlier, our results in the quarter include an $8 million charge associated with a pricing assessment, which was mainly caused by lower-than-anticipated volumes that originate outside of the U.S. for our domestic delivery services.
It is also important to highlight that since the beginning of the year, there has been a 25% improvement in our end-to-end cycle time from induction into our system to the actual delivery of the parcels.
We have increased our PB fleet by 42% over prior year, which reduces our reliance on third-party transportation including use of the spot market.
Revenue was $139 million, 9% better than prior year.
For the quarter, Presort EBITDA was $27 million, and EBITDA margin was 20%.
EBIT was $21 million, and EBIT margin was 15%.
SendTech revenue was $338 million, which was down 5% from prior year.
Last year's investment gains represent about 200 basis points of the year-over-year revenue decline for SendTech in the quarter.
For the quarter, Equipment Sales saw 4% growth despite some supply chain challenges in obtaining product.
In North America, more than 25% of our revenue comes from these new products, and we have begun to launch these products in select international markets.
We are also seeing strong demand for our SendPro mailstation product, which we launched in April 2020 and have shipped over 40,000 of these devices to date.
Our SaaS-based Subscription revenue grew 21%, and paid subscribers for our SendPro online product were up 58% over prior year.
SendTech EBITDA was $107 million, and EBITDA margin was 32%.
EBIT was $99 million, and EBIT margin was 29%.
We still expect annual revenue at constant currency to grow over prior year in the low to mid-single-digit range.
We still expect adjusted earnings per share to be in the range of $0.35 to $0.42.

Summary:
Total revenue for the third quarter was $875 million and declined 2% from prior year.
Adjusted earnings per share was $0.08, and GAAP earnings per share was $0.05.
We still expect annual revenue at constant currency to grow over prior year in the low to mid-single-digit range.
We still expect adjusted earnings per share to be in the range of $0.35 to $0.42.