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    Deluxe prints up 14.4 percent 4Q profit growth

    Associated Press – Thu, Jan 26, 2012

    ST. PAUL, Minn. (AP) — Check printer and business service provider Deluxe Corp. said Thursday that its fourth-quarter net income rose 14 percent with growth in its small business services segment.

    The company earned $39.8 million, or 78 cents per share, for the quarter that ended Dec. 31. That was up from $34.8 million, or 68 cents per share, during the same period of 2010.

    Its adjusted profit rose to 83 cents per share from 78 cents per share. Analysts surveyed by FactSet on average were expecting adjusted earnings of 80 cents per share.

    Revenue rose 4 percent to $366.4 million.

    Revenue in Deluxe's Small Business Services unit, the company's largest, rose 12 percent to $228.8 million. That segment makes checks and forms for businesses, as well as providing other services. Operating income rose almost 24 percent to $40.5 million.

    Revenue in its Financial Services segment fell to $82.5 million, form $88 million a year ago as the number of checks printed by that unit fell.

    Its Direct Checks business saw revenue fall 7.1 percent to $55.1 million on lower volumes for printed checks. Even with lower revenue, operating income rose 29 percent to $16.8 million.

    Deluxe said it expects first-quarter earnings of 76 to 81 cents per share, on revenue of $358 million to $366 million.

    For all of 2012, it expects to earn $3.10 to $3.30 per share, with revenue of $1.42 billion to $1.46 billion. Analysts had been expecting a profit of $3.20 per share for the year, on revenue of $1.43 billion.

    Shares rose 34 cents to $23.68.

     

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