Deluxe Corp. Q1 Results Beat Estimates - Quick Facts

(RTTNews) - Deluxe Corp. (DLX) on Thursday reported a decline in profit for the first quarter from last year despite higher revenues. However, both revenue and adjusted earnings per share beat analysts' estimates.

The company's net income for the first quarter was $41.2 million or $0.93 per share, down from $63.3 million or $1.31 per share in the year-ago period.

Excluding items, adjusted earnings for the quarter were $1.14 per share, calculated with the company's prior year methodology.

Total revenue for the quarter grew to $499.1 million from $491.9 million in the same period last year.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $1.11 per share for the quarter on revenues of $497.17 million. Analysts' estimates typically exclude special items.

For the second quarter, Deluxe forecast reported earnings of $0.95 to $1.05 per share, adjusted earnings of $1.55 to $1.65 per share, and revenue of $490 million to $505 million.

Analysts expect the company to earn $1.31 per share for the quarter on revenues of $501.1 million.

For fiscal 2019, the company projects reported reported earnings of $4.33 to $4.63 per share, adjusted earnings of $6.65 to $6.95 per share, and revenue in a range of $2.00 billion to $2.05 billion.

The Street expects earnings of $5.47 per share for the year on revenues of $2.05 billion.