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Deluxe Corporation (Symbol: DLX) is a leading provider of payment solutions, data-driven marketing, and promotional products. The company operates through four key segments: Payments, Data Solutions, Promotional Solutions, and Checks.
In the Payments segment, Deluxe offers merchant in-store, online, and mobile payment solutions. This segment also includes treasury management services like remittance and lockbox processing, remote deposit capture, receivables management, and paperless treasury management. Payroll and disbursement services, including the Deluxe Payment Exchange, as well as fraud and security services, are also key offerings.
The Data Solutions segment focuses on data-driven marketing solutions and hosted services, such as digital engagement and logo design. Deluxe also provides web hosting and design services, making it a versatile partner for businesses aiming to enhance their digital presence.
In the Promotional Solutions segment, Deluxe delivers business forms, accessories, advertising specialties, and promotional apparel. This segment helps businesses enhance brand visibility through various custom promotional products.
Lastly, the Checks segment includes the production of printed business and personal checks, a long-standing service that remains a critical part of Deluxe's offerings.
Deluxe Corporation is committed to innovation and quality, continually evolving its services to meet the changing needs of businesses. The company collaborates with a network of professional designers, copywriters, coders, and photographers, ensuring high-quality service delivery. Recent achievements include expanding its digital payment solutions and integrating advanced security features to safeguard transactions. With a solid financial foundation, Deluxe continues to grow and adapt, maintaining its significant role in the payment solutions industry.
Deluxe (NYSE: DLX) will announce its second quarter 2022 financial results on August 4, 2022, before market open. An open-access conference call will take place at 8:30 a.m. ET the same day, accessible by calling 1-888-210-4748 (access code: 7092711). A webcast will also be available on the investor relations website. For those unable to listen live, a replay can be accessed after 11:30 a.m. ET until midnight on August 11, 2022. Deluxe is a Trusted Payments and Business Technology company, serving millions of businesses with approximately $3 trillion in annual payment volume.
Deluxe (NYSE: DLX) announces the promotions of Jean Herrick to Senior Vice President and Chief Human Resources Officer, and Cameron Potts to Senior Vice President and Chief Communications Officer. Herrick, with nearly 30 years in HR, is expected to enhance growth as a payments and data leader. Potts, part of the team since 2014, has been pivotal in communication strategies during the company's transformation. These promotions reflect Deluxe's commitment to strengthening its leadership as it aims to accelerate its transformation in the business technology sector.
Deluxe (NYSE: DLX) has expanded its partnership with Dupaco Community Credit Union by transitioning over 120 business members to its merchant services. This agreement builds on an existing collaboration, enhancing Deluxe's offerings that already include Checks and Remote Deposit Capture. The move follows Deluxe's acquisition of First American Payment Systems in 2021, enabling a stronger position in the merchant services sector. Terms of the new agreement were not disclosed.
Deluxe's First American Payment Systems has been awarded the ATSI Call Center Award of Distinction for the 10th consecutive year and achieved the top score in the financial services category. This recognition highlights their commitment to quality customer service, with key metrics showing that most calls were answered in under 30 seconds in 2021. The company, acquired by Deluxe in 2021, serves over 155,000 merchants across the Americas and Europe, offering robust payment solutions and support.
Deluxe Corporation (NYSE: DLX) announced that Tracey Engelhardt, President of Checks, has become Chief of Operations, in addition to her current role. Engelhardt brings nearly 30 years of industry experience and is the first woman to hold this position in the company's 107-year history. CEO Barry McCarthy emphasized that her leadership will enhance operational efficiencies and support growth in payments and data services. Deluxe has been recognized for its commitment to gender diversity in leadership, marking 14 years of recognition in Minnesota.
Deluxe (NYSE: DLX) recently announced the issuance of restricted stock unit (RSU) awards to Yogaraj Jayaprakasam, its new Chief Technology and Digital Officer, to incentivize his joining. He received two awards on May 13, totaling 61,062 RSUs, with vesting contingent on continued employment. The RSUs vest over different timelines: half after two years and the remainder quarterly over four years. Deluxe supports a vast range of businesses, processing around $3 trillion in annual payment volume.
Deluxe (NYSE:DLX) has partnered with Codat to enhance its Payroll + HR Solutions, allowing automatic reconciliation of payroll data into accounting software like QuickBooks Online. This integration eliminates the need for manual data entry, saving time and reducing errors for small business owners. The feature will be provided at no additional cost. The collaboration aims to improve payroll processing efficiency, with plans for further integrations with other accounting software in the future, supporting Deluxe's mission to empower small businesses.
Deluxe Corporation has been nominated for an Emmy® for its Small Business Revolution reality show, specifically the sixth season in the Outstanding Lifestyle Program category. This season highlighted six Black-owned businesses in Minneapolis and St. Paul, showcasing how Deluxe's support helped them thrive amidst challenges, including COVID-19. The Creative Arts & Lifestyle Daytime Emmy Awards will take place on June 18, and this nomination marks the second for the series, further validating Deluxe's commitment to assisting small business owners.
Deluxe (NYSE: DLX) announced that Barry C. McCarthy, President and CEO, and Scott C. Bomar, CFO, will present at the 17th Annual Needham Technology & Media Conference on May 16 at 10:15 am EDT. Interested parties can access a live webcast via the investor relations section of Deluxe's website, with a replay available post-event. Deluxe has established itself as a trusted payments and business technology provider, processing approximately $3 trillion in annual payment volume, supporting small businesses, financial institutions, and major consumer brands.
Deluxe reported a 26.0% revenue growth in Q1 2022, with total revenue reaching $556.0 million. Excluding the First American acquisition, revenue growth stood at 7.1%. All segments achieved year-over-year revenue increases, particularly the Payments segment, which surged 109.1% to $166.2 million. However, net income plummeted 60.1% to $9.7 million, and Adjusted EBITDA margin declined to 17.9%. A quarterly dividend of $0.30 per share was declared, payable June 6, 2022. Full-year revenue growth is projected at 8% to 10%.
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