Deluxe Reports Second Quarter 2012 Financial Results

Deluxe Corporation (NYSE:DLX) announced its financial results for the second quarter ended June 30, 2012. Key financial highlights include:
  Q2 2012   Q2 2011   Vs. Q2 2011
Revenue $371.0 million $346.3 million 7.1%
Net income $42.3 million $35.5 million 19.2%
Diluted EPS – GAAP $0.82 $0.68 20.6%
Adjusted diluted EPS – Non-GAAP $0.85 $0.75 13.3%

A reconciliation between earnings per share on a GAAP basis and adjusted earnings per share on a non-GAAP basis is provided after the Forward-Looking Statements discussion.

Revenue and diluted EPS exceeded the high end of the range in the prior outlook, driven by strong operating performance in each of the Company’s segments.

“We had an outstanding second quarter following an outstanding first quarter,” said Lee Schram, CEO of Deluxe. “We exceeded both our revenue and EPS outlook, with strong performance in all three segments. We continued to see a better than expected secular check decline rate while marketing solutions and other services revenue grew 30 percent and are on track to exceed our original growth expectations for the year with enhanced offerings from the OrangeSoda acquisition.”

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