Deluxe Reports Solid Second Quarter 2020 Performance
*Revenue was $83.6 million lower than last year. COVID-19 negatively impacted our results in the quarter, primarily across our Promotional Solutions, Cloud Solutions and Check segments. *The Payments segment delivered strong revenue growth of 12.6% over the same period last year, benefiting from Treasury Management revenue growth of 20.5% in the second quarter driven primarily by previously announced and continuing business wins. *Net income decreased $17.7 million, driven primarily by the challenging business environment resulting from COVID-19, previously disclosed investments in the Company’s business transformation and a pretax asset impairment charge of $4.9 million related to management's ongoing rationalization of the Company's real estate footprint.