To create the covers, ELLE selected 50,000 names from their subscriber list, using demographics and other audience data to target those most likely to be Kim Kardashian West fans and ensure the greatest impact. Once the list of subscribers was narrowed to 50,000, the team at ELLE had Kim Kardashian West come in and hand-write each letter of the alphabet, allowing them to create a custom font. Kardashian West also provided several personal sayings - things she would actually say in person. The personalized print cover was created using variable data printing (VDP), which ELLE partnered with HP and printer Quad/Graphics to execute. George Forge, executive director of digital print for Quad/Graphics, says the company has decades of experience producing this type of work. Click Read More below for additional information.
Deluxe (NYSE: DLX), a Trusted Payments and Business Technology™ company, today reported operating results for its third quarter ended September 30, 2021.
“The scale of our Payments business now rivals our legacy Check business, confirming Deluxe is a Payments company. Our One Deluxe go-to-market strategy is working across all our businesses, providing full company organic growth during the third quarter. We are well-positioned to deliver on the fourth quarter and drive momentum into 2022,” said Barry McCarthy, President and CEO of Deluxe. “We are particularly encouraged by the performance of recently acquired First American, as well as our payroll and digital payments businesses. Cloud Solutions also performed well, improving 9% year-over-year, Promotional Solutions experienced growth and Checks’ rate of decline was better than long-term industry trends.”
“We are pleased with our third quarter results which were in-line with expectations, and, as anticipated, were impacted by lingering Covid impacts, inflation and other macroeconomic factors,” said Scott Bomar, Senior Vice President and Chief Financial Officer of Deluxe. “As a reminder, last year’s third quarter was positively impacted by Covid-related cost savings initiatives, and other one-time items. We have continued to effectively manage costs during the period while continuing to deliver sales growth. We expect to see improvements in free cash flow in the fourth quarter and beyond, which will allow us to invest in growth, as well as continue to de-lever our balance sheet.”
*Revenue for the third quarter was $92.6 million higher than the previous year. Not including the First American acquisition, which closed on June 1, 2021, revenue increased $10.1 million, or 2.3% year-over-year.
*The Payments segment delivered revenue growth of 114.6% over the previous year to $160.3 million, $82.5 million of which was from First American.
*Net income of $12.5 million includes $11.9 million in acquisition amortization from the First American acquisition, as well as increased interest expense associated with the transaction.
*Cash flow from operations for the third quarter was $65.4 million and capital expenditures were $34.5 million. Free cash flow, defined as cash provided by operating activities less capital expenditures, was $30.9 million, an increase of $11.6 million from the second quarter of 2021, and a decrease of $10.7 million compared to the third quarter of 2020, largely attributable to capital investments this year.
*Total debt outstanding decreased from $1,833.4 million as of June 30, 2021 to $1,776.2 million as of September 30, 2021. Net debt was $1,655.1 million and liquidity was $433.6 million as of September 30, 2021.
details at: https://www.investors.deluxe.com/news/news-details/2021/Deluxe-Reports-Third-Quarter-2021-Results-Declares-Regular-Dividend-Affirms-2021-Outlook/default.aspx