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Last $64.22 USD
Change Today +1.28 / 2.03%
Volume 313.0K
DLX On Other Exchanges
Symbol
Exchange
New York
Berlin
As of 8:04 PM 07/29/15 All times are local (Market data is delayed by at least 15 minutes).

deluxe corp (DLX) Key Developments

Deluxe Corporation Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015; Revises Earnings Guidance for the Year 2015; Provides Earnings Guidance for the Third Quarter of 2015

Deluxe Corporation reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported net income of $56.1 million or $1.11 per diluted share on total revenues of $435.9 million compared to net income of $50.1 million or $0.99 per diluted share on total revenues of $405.4 million a year ago. Operating income was $88.9 million compared to $85.0 million a year ago. Income before income taxes was $85.3 million compared to $75.8 million a year ago. Capital expenditures were $9.8 million compared to $8.9 million a year ago. EBITDA was $107.7 million compared to $101.7 million a year ago. Adjusted EBITDA was $109.3 million compared to $102.9 million a year ago. Adjusted operating income was $90.5 million against $86.2 million a year ago. Adjusted diluted EPS was $1.13 against $1.01 a year ago. Excluding restructuring and transaction-related costs in both periods, adjusted diluted EPS increased 11.9% year-over-year driven by stronger operating performance and lower interest expense, partly offset by a higher effective income tax rate. The company generated strong operating cash flow of $68 million for the quarter. For the six months, the company reported net income of $102.0 million or $2.02 per diluted share on total revenues of $869.5 million compared to net income of $97.4 million or $1.92 per diluted share on total revenues of $812.4 million a year ago. Operating income was $174.2 million compared to $165.8 million a year ago. Income before income taxes was $155.6 million compared to $147.2 million a year ago. Capital expenditures were $19.3 million compared to $19.9 million a year ago. EBITDA was $202.2 million compared to $198.9 million a year ago. Adjusted EBITDA was $213.2 million compared to $204.0 million a year ago. Cash provided by operating activities was $77.7 million compared to $73.3 million a year ago. Adjusted diluted EPS was $1.04 compared to $0.98 a year ago. Cash provided operating activities was $146.0 million against $125.8 million a year ago. Adjusted operating income was $176.3 million against $170.6 million a year ago. The increase was driven primarily by improved operating performance, timing of collections associated with the Wausau business and lower interest payments, partially offset by higher performance-based compensation payments. For the third quarter of 2015, the company expects revenue to range from $439 million to $447 million. Adjusted diluted earnings per share is expected to range from $1.10 to $1.15. In comparison to the second quarter, adjusted EPS is expected to be about the same, at the midpoint of the third quarter range, primarily due to higher MOS revenue, lower brand awareness spend, offset by lower Financial Services and Direct Checks' higher-margin check revenue and the resulting flow-through to operating income and lower cost reductions. The company expects the earnings per share contribution to be slightly accretive in the third quarter or about the same as the second quarter. The company has revised the earnings guidance for the full year of 2015. The company now expects: revenues of $1.76 to $1.78 billion compared to previous guidance of $1.75 to $1.78 billion; diluted EPS of $4.35 to $4.45 compared to previous guidance of $4.27 to $4.42; adjusted diluted EPS of $4.50 to $4.60 compared to previous guidance of $4.40 to $4.55; operating cash flow of $300 to $310 million compared to previous guidance of $295 to $305 million; effective tax rate of approximately 34.0% compared to same and depreciation and amortization of approximately $76 million compared to previous guidance of approximately $75 million. Capital expenditures were at the same level as approximately $40 million. Depreciation and amortization expense is expected to be approximately $76 million, including approximately $30 million of acquisition-related amortization.

Deluxe Small Business Services Reports Unaudited Earnings Results for the Second Quarter and Six Months Ended June 30, 2015

Deluxe Small Business Services reported unaudited earnings results for the second quarter and six months ended June 30, 2015. Revenue was $282.3 million and increased 5.5% from $267.7 million year-over-year due to growth in marketing solutions and other services and in online, Safeguard® distributor, major account and dealer channels. Previous price increases also benefitted the quarter while unfavorable foreign exchange rates negatively impacted revenue growth by approximately 0.9 percentage points year-over-year. Operating income decreased 1.2% from last year to $48.2 million against $48.8 million a year ago. Adjusted operating income decreased 0.2% year-over-year due primarily to planned higher brand awareness marketing and investments in other revenue-generating initiatives, partly offset by cost reductions. Adjusted operating income was $49.6 million against $49.7 million a year ago. For the six months, revenue was $559.3 million and operating income was $97.7 million against revenue of $534.2 million and operating income of $92.2 million a year ago. Adjusted operating income was $99.3 million against $95.8 million a year ago.

Deluxe Corporation Announces Executive Changes

On July 8, 2015, Jeffrey J. Bata informed Deluxe Corporation of his decision to resign as Vice President, Controller and Chief Accounting Officer of the company, effective August 15, 2015. Effective August 16, 2015, Terry D. Peterson, Chief Financial Officer of the company, will assume the role of principal accounting officer in addition to his current role as principal financial officer. Mr. Peterson has served as the company's Chief Financial Officer since November 2009 and previously served as the company's principal accounting officer from March 2005 to June 2012.

Deluxe Corp. to Report Q2, 2015 Results on Jul 23, 2015

Deluxe Corp. announced that they will report Q2, 2015 results at 9:00 AM, Eastern Standard Time on Jul 23, 2015

Deluxe Corp., Q2 2015 Earnings Call, Jul 23, 2015

Deluxe Corp., Q2 2015 Earnings Call, Jul 23, 2015

 

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