Deluxe Reports Improvement in Q1 Results, Outlook for Full Year

The company reported first quarter adjusted diluted earnings per share (EPS) from continuing operations of $0.73 compared to $0.56 in the prior year first quarter. Adjusted EPS from continuing operations for 2010 excludes the income tax impact of recent health care legislation and excludes the impact of discontinued operations. Adjusted EPS from continuing operations for 2009 excludes the impact of restructuring-related costs, asset impairment charges and gains on debt repurchases. Operating results were better than expected for the current period due primarily to favorable product mix and cost reduction and containment initiatives.