Revenues beat expectations at Deluxe Corp.

  • Article by: JIM BUCHTA , Star Tribune
  • Updated: October 25, 2012 - 10:06 AM

Strong sales of checks and forms helped boost income.

Deluxe Corp., the Shoreview-based maker of checks, forms and other Internet marketing services, said that revenue was up nearly 7 percent during the third quarter, beating the company's own estimates.

The company, which has operations in more than two dozen locations across the country and in Ireland, posted $378 million in revenues with income rising 13 percent to $41.5 million. Earnings (diluted) rose 14 percent to 81 cents per share.

The company's chief executive officer, Lee Schram, attributed the strong performance to better than expected sales of checks and forms and 23 percent growth in marketing solutions and other services.

He said that it was the company's third "outstanding" quarter in a row and he expects revenues to increase 6 to 7 percent for the year, which would be the third consecutive year of revenue growth.

In June, the company announced the acquisition of OrangeSoda, a Utah-based online marketing company with about 175 employees. That deal helped boost the company's Small Business Services 14 percent.

Jim Buchta • 612-673-7376

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