ST. PAUL, Minn. – Deluxe Corp., one of the last surviving check printers, reported a 19% surge in second quarter profits yesterday, fueled by its growing small business segment.
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Second quarter net income was $42.3 million, compared to $35.5 million for the same period last year, as revenues rose by 7%, to $371 million for the quarter.
Revenues for the company’s core check printing business continued to slide, but were more than offset by a 15% increase in the company’s small business segment.
For the first six months of the year Deluxe reported an 8% rise in revenues to $749 million, and a 10% increase in net income to $86.3 million.
