Deluxe Corporation (NYSE: DLX) shares closed in on their 52 week high of $18.11 when the shares climbed over 10%, trading at a daily high of $17.85 before ending the day at $17.71.
Earnings per share were 59 cents on net income of $30.5 million in the 4th quarter 2009, compared to 54 cents per share on net income of $27.9 million for the 4th quarter of 2008.
Results for the 4th quarter of 2009 included restructuring costs of $7.3 million and $1.4 million of transaction-related expenses.
Results for the 4th quarter of 2008 included restructuring and related costs and asset impairment charges of $6.5 million and a diluted loss per share from discontinued operations of 5 cents per share.
Cash flow from operating activities for the year of 2009 was $206.4 million, an increase of $7.9 million compared to 2008.
"We delivered a very strong quarter despite continued challenges in the economic environment," said Lee Schram, CEO of Deluxe. "Although revenue from holiday-related products was below our expectation, revenue from checks and forms was particularly strong later in the quarter helping us deliver the top end of our revenue outlook while driving strong cash flow and EPS growth. On the strategic front, we made solid progress during the quarter integrating our recent acquisitions and we signed a new, exclusive revenue sharing agreement with BancVue which brings new deposit products to our financial institution customers."
Deluxe Corporation provides customized products and services, such as logo design and personalized printed items, such as checks, forms and business cards to small businesses and financial institutions.
The company has made of a number of acquisitions in recent years in order to enter new markets.
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