Deluxe Soars on Higher Forecast

The company says lower costs helped boost third-quarter earnings.
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Shares of

Deluxe

(DLX) - Get Report

vaulted Thursday after the check printing and stationary company raised its third-quarter and full-year earnings projections.

The Shoreview, Minn.-based company now expects earnings for the quarter ended Sept. 30 to be 59 cents to 61 cents a share, up from the previous guidance of 41 cents to 45 cents a share. The company estimated revenue of about $398 million.

Analysts polled by Thomson First Call were expecting earnings of 44 cents a share on revenue of $399.15 million.

Deluxe attributed the improved bottom-line forecast to lower manufacturing costs and selling, general and administrative expenses, which led to a better-than-expected operating performance in each of its three business segments.

For the entire year, the company expects to earn at least $1.60 a share, higher than its earlier forecast of $1.41 to $1.51 a share. Analysts, on average, predict earnings of $1.45 a share.

Deluxe's shares were trading up $3.29, or 18%, at $21.50.

This story was created through a joint venture between TheStreet.com and IRIS.