Deluxe saw first-quarter profit rise 3%
- Article by: EVAN RAMSTAD
- Star Tribune
- April 24, 2014 - 8:28 PM
Deluxe Corp.’s first-quarter profit rose 3 percent as its marketing services for small businesses continued to grow quickly, the company said Thursday.
Deluxe, based in Shoreview, said it earned $47.3 million, up from $45.9 million in the year-ago period. Its per-share adjusted earnings amounted to 98 cents, above the 95 cent per-share amount that was forecast by analysts. The company’s stock rose 0.8 percent Thursday.
Revenue was $407 million, up 5 percent from $387.6 million a year ago. Sales in Deluxe’s largest business, offering marketing services to small businesses, grew 9 percent.
“We delivered an outstanding first quarter, hitting on all cylinders in spite of the impact from severe winter weather and a continued sluggish economy,” Lee Schram, the company’s chief executive, said in a statement.
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