Deluxe Reports Fourth Quarter 2019 Results

Deluxe Corporation (NYSE: DLX) today reported operating results for its fourth quarter and full year ended December 31, 2019. Revenue for the year increased to $2.009 billion. This is the first year in the Company’s 105-year history that revenue exceeded $2 billion. GAAP Diluted Loss per Share for the year was $4.65 and included asset impairment charges of $391.0 million in the third quarter. Adjusted Diluted Earnings per Share (EPS) for the year was $6.82, within the outlook range.

Fourth Quarter 2019 Highlights
• Revenue was slightly lower than last year, as strong performance in the data-driven marketing business was offset by the continuing decline in checks and forms.
• Marketing solutions and other services (MOS) revenue was 45.9% of total revenue which was a new all-time high. Checks accounted for 36.9% and forms and accessories accounted for 17.2%.
• Net income decreased $12.4 million, driven primarily by $18.4 million of additional costs from previously disclosed investments in the Company’s business transformation.
• Cash provided by operating activities for 2019 was $286.7 million, a decrease of $52.6 million from 2018, driven by higher spending on business transformation, certain legal-related payments earlier in the year and revenue mix changes.
• At the end of the fourth quarter, the Company had $883.5 million of total debt outstanding under its revolving credit facility, down from $910.0 million at the beginning of 2019.
more detail at: https://www.deluxe.com/about-deluxe/news-and-media

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