Business Services Segment Drives Check Printer Deluxe
ST. PAUL, Minn. – Check printer Deluxe Corp. reported yesterday that a 33% rise in revenues from its growing businesses services operations helped stem continuing declines in its core checks business to deliver a 14% rise in net income for its fiscal third quarter, to $50.8 million.
Revenues for the company rose almost 11% for the quarter to $367.6 million. Nearly $13 million of that was due to an increase in income from its businesses services segment, due primarily to the revenue contribution of the contract settlement, as well as growth in business services.
Financial Services revenue, that is checks sold through credit unions and banks, was up almost 4%, primarily due to the same contract settlement and growth from non-check services.
Revenue from Direct Checks sold to consumers revenue was up almost 50%, due to the April acquisition of Custom Direct.
For the first three quarters of the year total revenues were almost flat at $1.05 billion, while net income was up 11% to $117.8 million.