Poor economic conditions drove down Deluxe Corp.'s second-quarter earnings.

The printer also said it has purchased a Web hosting company and a social networking provider to diversify as check use declines.

Deluxe said Thursday that revenue dropped 8% from a year earlier, to $367.7 million. Net income fell 9.4%, to $32.6 million.

Sales in its financial services unit, which sells checks to banks, fell 7%, to $110 million. Revenue from direct check sales to consumers, fell 11%, to $46.2 million, on declining volume.

Lee Schram, Deluxe's chief executive, said in a press release that the company is " not immune to the challenging economic conditions."

Deluxe said it has completed its deals to acquire Hostopia.com Inc., a provider of Web services, and the social networking company PartnerUp Inc. The check printer said the purchases would boost revenue from small businesses.