Deluxe Corp. shares dropped Friday morning after the St. Paul check printer affirmed its 2007 guidance.
Deluxe confirmed that it expects to report earnings of $2.75 to $2.80 a share for the year on revenue of $1.6 billion to $1.62 billion.
It also expects to report operating cash flow of $240 million and $250 million for the year.
Wall Street analysts on average have predicted that the company will report earnings of $2.78 a share.
By midmorning Friday, Deluxe shares had dropped 4.94% from Thursday's close, to $29.25.
With consumers and businesses shifting their payments from paper checks to electronic transactions, Deluxe has made efforts to diversify its business lines, focusing on small-business printing services.
Deluxe plans to release its fourth-quarter and full-year earnings results Jan. 24.
