deluxe corp (DLX) Key Developments
Deluxe Corp. Presents at Barclays Select Series 2014: SMID Cap Conference, Nov-12-2014
Nov 9 14
Deluxe Corp. Presents at Barclays Select Series 2014: SMID Cap Conference, Nov-12-2014 . Venue: Barclays headquarters, 745 Seventh Avenue, New York, NY 10019, United States.
Deluxe Corp. Declares Regular Quarterly Dividend Payable on December 1, 2014; Announces Unaudited Consolidated Earnings Results for the Third Quarter and Cash Flow Results for the Nine Months Ended September 30, 2014; Revises Earnings Guidance for the Full Year of 2014; Provides Earnings Guidance for the Full Year of 2015 and Fourth Quarter of 2014; Reports Asset Impairment Charges for the Third Quarter of 2014
Oct 23 14
Deluxe Corp. announced that the board of directors declared a regular quarterly dividend of $0.30 per common share on all outstanding shares of the company. The dividend will be payable on December 1, 2014 to all shareholders of record at the close of business on November 17, 2014.
The company also announced unaudited consolidated earnings results for the third quarter and cash flow results for the nine months ended September 30, 2014. For the quarter, the company reported total revenues of $413.2 million against $398.1 million, for the same period a year ago. Operating income was $76.7 million against $79.7 million, for the same period a year ago. Income before income taxes was $67.5 million against $70.6 million, for the same period a year ago. Net income was $44.4 million against $46.9 million, for the same period a year ago. Diluted earnings per share were $0.88 against $0.92, for the same period a year ago. Capital expenditures were $9.8 million against $10.2 million, for the same period a year ago. Adjusted EBITDA was $104.0 million against $99.8 million, for the same period a year ago. Adjusted diluted EPS was $1.03 against $0.96, for the same period a year ago. Revenue increased 3.8% year-over-year due to the strong performance of the Small Business Services segment which grew 7.2%. Adjusted operating income, which excludes these items, increased 5.8% year-over-year from higher revenue per order and continued cost reductions partially offset by higher performance-based compensation. Excluding the asset impairment charge in the third quarter of 2014 and restructuring and transaction-related costs in both periods, adjusted diluted EPS increased 7.3% year-over-year driven by stronger operating performance and lower shares outstanding, partially offset by a slightly higher effective tax rate.
For the nine months, the company reported cash provided by operating activities of $203.3 million, an increase of $19.3 million compared to 2013, driven primarily by improved earnings, changes in working capital, and lower medical and performance-based compensation payments, partially offset by higher income tax payments.
The company provided earnings guidance for the full year of 2015 and fourth quarter of 2014. For the fourth quarter of 2014, the company expects to report revenue of $432 million to $440 million, GAAP diluted EPS of $1.05 to $1.11 and non-GAAP adjusted diluted EPS of $1.06 to $1.12. The effective tax rate will be approximately 34%.
For the full year of 2015, the company expects to report increase in the revenue of approximately 5% to 7% and GAAP diluted EPS to increase approximately 5% to 8%.
The company revised earnings guidance for the full year of 2014. For the year, the company expects to report revenue in the range of $1.657 billion to $1.665 billion against previous guidance of $1.635 billion to $1.655 billion. GAAP diluted EPS is expected to be in the range of $3.86 to $3.92 against previous guidance of $3.96 to $4.06. Non-GAAP adjusted diluted EPS is expected to be in the range of $4.08 to $4.14 against previous guidance of $4.04 to $4.14. Operating cash flow is expected to be in the range of $278 million to $285 million against previous guidance of $270 million to $280 million. Capital Expenditures are expected to be $278 million to $40 million, same as previous guidance. Effective tax rate is expected to be 34%, same as previous guidance.
The company reported asset impairment charge of $6.5 million in the third quarter of 2014 compared to nil a year ago.
Deluxe Mulls Acquisitions
Oct 23 14
Deluxe Corp. (NYSE:DLX) plans to make acquisitions. Terry Peterson, Chief Financial Officer of the company said: “Shifting to our capital structure, we expect to maintain our balanced approach of investing organically and through small to medium-sized acquisitions in order to drive our growth transformation.” Lee Schram, Chief Executive Officer of the company said: “We added payroll services customers, and many customers added new features, such as time and attendance applications. This category web services is also one of our key focus areas for tuck-in acquisitions. We closed the third quarter with approximately 830,000 web-hosting customers, and we expect to close 2014 with nearly 850,000 web-hosting customers, an increase of 16% from 2013, as we expect migrations to continue through the balance of the year.”
Deluxe Corp. Presents at UBS Global Technology Conference 2014, Nov-18-2014
Oct 10 14
Deluxe Corp. Presents at UBS Global Technology Conference 2014, Nov-18-2014 . Venue: Cavallo Point, The Lodge at the Golden Gate, 601 Murray Circle, Fort Baker, Sausalito, California, United States.
Deluxe Corp. to Report Q3, 2014 Results on Oct 23, 2014
Oct 9 14
Deluxe Corp. announced that they will report Q3, 2014 results at 9:00 AM, Eastern Standard Time on Oct 23, 2014