Deluxe Corp. Q4 Profit Down

(RTTNews) - Deluxe Corp. (DLX) reported that its net income for the fourth-quarter decreased to $44.8 million or $1.06 per share from $57.2 million or $1.25 per share last year.

Adjusted earnings per share were $1.94 down from $1.88 in the prior year.

Revenue was $522.1 million, down from $524.7 million last year.

Analysts polled by Thomson Reuters expected the company to report earnings of $1.75 per share and revenues of $519.47 million. Analysts' estimates typically exclude special items.

For the first-quarter, the company expects adjusted earnings per share to be in the range of $1.15 to $1.25, and revenue of $490 million to $505 million. Analysts expect the company to report earnings of $1.55 per share and revenues of $500 million for the first-quarter.

For 2020, the company projects adjusted earnings per share to be in the range of $5.50 to $5.95, and revenue of $2.000 billion - $2.040 billion. Wall Street currently is looking for fiscal year 2020 earnings of $6.59 per share on annual revenues of $1.97 billion.

Revenue for 2020 is expected to grow without acquisitions for the first time in nearly a decade.

The company affirmed 2023 outlook for revenue to be about $2.3 billion and adjusted EBITDA margins to be in the low-to mid-20 percent range.