Deluxe Reports Improvement in Q1 Results, Outlook for Full Year

"We are pleased to have delivered another strong quarter exceeding all our financial commitments," said Lee Schram, CEO of Deluxe. "Consolidated revenue was down only one percent while operating margins in each segment were stronger and we delivered better than expected operating cash flow. We also advanced several strategic areas since our last quarterly update including business services where we grew revenue by 33 percent over the prior year, acquiring Custom Direct, and closing on our new $200 million bank credit facility."