Deluxe Q2 Profit Drops

(RTTNews) - Deluxe (DLX) reported that its second-quarter net income dropped to $14.9 million from last year's $32.6 million, hurt by the challenging business environment resulting from COVID-19. The latest-quarter result included a pretax asset impairment charge of $4.9 million related to management's ongoing rationalization of the Company's real estate footprint.

Adjusted earnings per share were $1.15 down from $1.64 in the previous year.

Total revenue for the quarter declined to $410.4 million from $494.0 million last year.

Due to the significant ongoing uncertainties in the macro-economic environment, the Company previously withdrew its 2020 outlook, and is not providing third quarter or full year financial guidance at this time, Deluxe said in a statement.