Deluxe Income Falls in Quarter
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by Chief Marketer Staff
Deluxe Corp. posted net income of $27.8 million for the second quarter, a decrease from in net income of $32.6 million in the prior year.
The direct marketer reported revenue of $332.1 million for the quarter ended June 30, a decrease from $364 million last year.
The St. Paul, MN firm reported that small business services revenue was $15.9 million lower than the previous year. Management attributed this primarily to continued economic softness.
The direct marketer reported that gross margin was 61.8% percent of revenue during the quarter, compared to 62.3% percent in the prior year.
In addition, Deluxe reported that selling, general and administrative expenses decreased $11 million in the quarter compared to last year.
