Shoreview-based Deluxe Corp. reported strong third-quarter results and updated guidance for the rest of this year and next, saying the company is expecting to report a seventh straight year of per-share growth in revenue and profits.
Revenue for the third quarter rose 6.4 percent to $439.8 million, putting the company on pace to report annual revenue of $1.765 to $1.775 billion for 2015, which would mean a revenue increase of 5.4 to 6 percent, the company said.
Deluxe also announced that it expects revenue to grow between 4 and 6 percent and earnings per share to grow 5 to 8 percent in 2016.
The provider of small business and financial services saw its earnings rise 28 percent compared with the same quarter last year, reporting $56.9 million, or $1.13 per share, for three months ended Sept. 30, compared with $44.4 million, or $1.03 per share, from the same quarter last year.
The company's adjusted earnings per share, which excluded restructuring and transaction-related costs and an asset impairment charge of $6.5 million in 2014, rose 12.6 percent to $1.16 per share.
Third-quarter revenue grew primarily due to the financial services segment, which grew 20.4 percent year-over-year including the added results of Wausau Financial Systems — which the company acquired in October 2014.
The company's small business services segment increased 3.9 percent for the quarter to $289 million. Deluxe's direct checks business segment, its smallest, saw revenue decline 7 percent to $39.9 million.
Shares of Deluxe Corp. closed Thursday at $58.24, down 32 cents.
Patrick Kennedy • 612-673-7926
