Company: DLX
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0000027996-25-000142
Chunk: 9

Company: DELUXE CORP
Filing Date: 2025-05-02
Form: 10-Q
Item: Item 1
Chunk 9
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30,032)(29,916)Non-controlling interest201 166 Total shareholders’ equity622,464 620,918 Total liabilities and shareholders’ equity$2,573,817 $2,831,036 

See Condensed Notes to Unaudited Consolidated Financial Statements

3

DELUXE CORPORATIONCONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME(unaudited)

Quarter EndedMarch 31,(in thousands, except per share amounts)20252024Product revenue$288,313 $300,312 Service revenue248,158 234,643 Total revenue536,471 534,955 Cost of products(109,680)(114,336)Cost of services (145,744)(137,082)Total cost of revenue(255,424)(251,418)Gross profit281,047 283,537 Selling, general and administrative expense(225,312)(234,093)Restructuring and integration expense(7,668)(13,804)Gain on sale of businesses and long-lived assets— 8,581 Operating income48,067 44,221 Interest expense(31,266)(30,809)Other income, net2,468 2,940 Income before income taxes19,269 16,352 Income tax provision(5,221)(5,522)Net income14,048 10,830 Net income attributable to non-controlling interest(35)(27)Net income  attributable to Deluxe$14,013 $10,803 Total comprehensive income$13,932 $15,021 Comprehensive income attributable to Deluxe13,897 14,994 Basic earnings per share0.31 0.25 Diluted earnings per share0.31 0.24 

See Condensed Notes to Unaudited Consolidated Financial Statements

4

DELUXE CORPORATIONCONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY(unaudited)

(in thousands)Common sharesCommon sharespar valueAdditional paid-in capitalRetained earningsAccumulated other comprehensive lossNon-controlling interestTotalBalance, December 31, 202444,315 $44,315 $117,122 $489,231 $(29,916)$166 $620,918 Net income— — — 14,013 — 35 14,048 Cash dividends ($0.30 per share)— —