10/28/10 - Deluxe Corporation reported third quarter adjusted diluted earnings per share (EPS) from continuing operations of $0.99 compared to $0.60 in the prior year. Results for 2010 include revenue of $24.6 million or $0.31 per diluted share, from a previously announced contract settlement with a large financial institution client. Adjusted diluted EPS for 2009 excludes the impact of restructuring-related costs and transaction-related costs associated with acquisitions. Operating results were better than expected for the current period due primarily to strong overall performance in the Small Business Services segment, partially offset by a higher effective tax rate.
Reported diluted EPS was $0.98 on net income of $50.8 million in the third quarter of 2010 and was $0.56 on net income of $28.6 million in the comparable quarter of 2009. Results for 2010 include a loss from discontinued operations of $0.4 million, or $0.01 per diluted share, associated with a previous business disposition. Results for 2009 included restructuring and transaction-related costs of $3.4 million, or $0.04 per diluted share.