Deluxe Reports Lower Profits
ST. PAUL, Minn. - (08/02/05) -- Deluxe Corp., the nation's largestcheck printer, said second quarter earnings declined 9% on higheroperating expenses and the loss of an undisclosed large financialinstitution client. Second quarter earnings were $42 million, or 83cents a share, down from $46 million, or 91 cents a share, for thesame period last year. Revenues, fueled by last year's acquisitionof New England Business Services, rose 41% to $434 million for thequarter. Through the first six months of the year operating incomewas down 4% to $158 million.