Deluxe Reports Improvement in Q1 Results, Outlook for Full Year

Direct Checks revenue was $41.4 million compared to $44.2 million in 2009. First quarter order volume was down due to the continued decline in check usage and the weak economy. Operating income was $15.9 million, or 38.4 percent of revenue, compared to $14.2 million or 32.1 percent of revenue in 2009.

Cash Flow Performance