02.02.2023 12:35:21
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Deluxe Q4 Profit Climbs, Revenues Down; Sees Weak Earnings In FY23
(RTTNews) - Deluxe (DLX), a payments and business technology company, reported Thursday that its fourth-quarter net income climbed 37.7 percent to $19 million from last year's $13.8 million.
Earnings per share grew 37.5 percent to $0.44 from $0.32 a year ago. Adjusted earnings per share were $1.04, compared to $1.26 last year.
Revenue for the period dropped 1.2 percent to $564 million from last year's $570.6 million. Adjusted comparable revenue increased 1.2 percent, reflecting solid ongoing demand for Deluxe products and pricing actions.
Further, the Board of Directors recently approved a regular quarterly dividend of $0.30 per share. The dividend will be payable on March 6 to shareholders of record as of market closing on February 21.
Looking ahead for fiscal 2023, the company expects adjusted earnings per share of $2.90 to $3.25, down year-over-year.
Adjusted EBITDA is expected to be $390 to $405 million, down 2 percent to up 2 percent from last year on an adjusted comparable basis.
Revenue for the year would be $2.145 to $2.210 billion, down 1 percent to up 2 percent from last year.
Chip Zint, Senior Vice President and Chief Financial Officer of Deluxe, said, "Looking ahead into 2023, we expect to see continued revenue growth, operating efficiencies, and improvements in free cash flow."
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Deluxe Corp. | 22,40 | -1,75% |