Deluxe Q2 Profit Rises; Updates 2017 Outlook

(RTTNews) - Deluxe Corp. (DLX) reported that its net income for the second-quarter grew to $59.6 million or $1.22 per share from $58.4 million or $$1.18 per share last year.

Total revenue for the quarter grew to $485.2 million from $450.6 million in the prior year.

Analysts polled by Thomson Reuters expected the company to report earnings of $1.24 per share and revenues of $479.42 million. Analysts' estimates typically exclude special items.

Looking ahead for the third-quarter, the company expects earnings per share to be in the range of $1.23 to $1.28, and revenue of $485 million to $493 million. Analysts expect the company to report earnings of $1.22 per share and revenues of $488.77 million for the third-quarter.

For the 2017, the company now expects earnings per share to be in the range of $5.04 to $5.14, Adjusted earnings per share of $5.20 to $5.30 and revenue of $1.955 billion to $1.975 billion. Previously, the company expected earnings per share to be in the range of $5.06 to $5.21, Adjusted earnings per share of $5.15 to $5.30 and revenue of $1.945 billion to $1.975 billion.

Wall Street currently is looking for fiscal year 2017 earnings of $5.21 per share on annual revenues of $1.96 billion.