Deluxe's Q4 net income up 7% year-over-year to US$42.6M, net sales up 5.8% to US$387.6M driven by growth in Small Business Services including the imapct of the OrangeSoda acquisition
ST. PAUL, Minnesota
January 24, 2013
– Revenue grows 6%; Small Business Services grows 11%
Diluted EPS of $0.83 grows 6%; adjusted EPS of $0.95 grows 14.5% exceeding high end of outlook
Provides 2013 Outlook; projects growing revenue and EPS and strong cash flow
Declares regular quarterly dividend
Deluxe Corporation (NYSE: DLX) announced its financial results for the fourth quarter ended December 31, 2012. Key financial highlights include:
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.
Adjusted Diluted EPS exceeded the high end of the range in the prior outlook due to strong operating performance, particularly in Financial Services, and a better than expected effective income tax rate. In addition, GAAP diluted EPS included a loss of $0.07 per share related to the early retirement of debt.
“We are excited to deliver our third straight year of revenue growth and our highest annual revenue growth rate since 1994, excluding the NEBS acquisition,” said Lee Schram, CEO of Deluxe. “Revenue in the fourth quarter was at the top end of our outlook and adjusted EPS exceeded our outlook, driven by strong performance in both Small Business Services and Financial Services. Full year adjusted EPS grew almost 14% to $3.53. Looking forward to 2013, in spite of an anticipated continued sluggish economy, we expect to continue our strong performance with a fourth year of profitable revenue growth.”
Fourth Quarter 2012 Highlights:
Small Business Services
Deluxe will hold an open-access teleconference call today at 11:00 a.m. ET (10:00 a.m. CT) to review the financial results. All interested persons may listen to the call by dialing 1-866-713-8310 (access code 74231470).
The presentation also will be available via a simultaneous webcast on our investor relations website at www.deluxe.com/investor.
An audio replay of the call will be available through midnight on February 7th by calling 1-888-286-8010 (access code 93002809). The presentation will be archived on Deluxe’s web site.
About Deluxe Corporation
Deluxe is a growth engine for small businesses and financial institutions. Over four million small business customers access Deluxe’s wide range of products and services including customized checks and forms, as well as web-site development and hosting, search engine marketing, search engine optimization, logo design and business networking. For financial institutions, Deluxe offers industry-leading programs in checks, customer acquisition, fraud prevention and profitability. Deluxe is also a leading printer of checks and accessories sold directly to consumers. For more information, visit us at www.deluxe.com, www.facebook.com/deluxecorp or www.twitter.com/deluxecorp.
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