Deluxe (DLX) FY2015 results: revenue $1.8 billion, up 5.9% on the year
Deluxe Corp. (DLX) reported revenue of $1.8 billion for fiscal 2015, the year ended 31 December 2015, up 5.9% on the year before. Net income was $219 million, up 9.4%, and diluted earnings per share $4.36. The figures are the company's own, from the 10-K it filed with the SEC on 19 February 2016.
Revenue
$1.8 billion
+5.9% on the year
FY2008FY2015
Operating margin
20.0%
19.9% a year earlier
FY2008FY2015
Net income
$219 million
+9.4% on the year
FY2008FY2015
Diluted EPS
$4.36
+10.1% on the year
FY2008FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
1,773
1,674
1,585
+5.9%
Cost of revenue
639
606
561
+5.4%
Gross profit
1,134
1,068
1,024
+6.2%
Gross margin
63.9%
63.8%
64.6%
Selling, general and administrative
775
719
691
+7.7%
Operating income
354
333
318
+6.5%
Operating margin
20.0%
19.9%
20.1%
Interest expense
20.3
36.5
38.3
-44.4%
Pre-tax income
328
297
281
+10.4%
Income tax
109
97.4
94.4
+12.3%
Effective tax rate
33.3%
32.8%
33.6%
Net income
219
200
187
+9.4%
Net margin
12.3%
11.9%
11.8%
Diluted EPS
$4.36
$3.96
$3.65
+10.1%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
310
285
262
+8.6%
Capital expenditure
43.3
41.1
37.5
+5.2%
Free cash flow
266
244
224
+9.2%
Free cash flow margin
15.0%
14.6%
14.1%
Depreciation and amortisation
76.7
65.8
64.5
+16.5%
Share-based compensation
11.9
9.8
7.6
+21.7%
Buybacks
60.0
60.1
48.8
-0.3%
Dividends paid
59.8
57.6
50.7
+3.7%
Dividend per share
$1.20
$1.15
$1.00
+4.3%
Diluted shares, weighted
50m
50m
51m
-0.9%
Shares outstanding at period end
49m
50m
50m
-1.5%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
745
647
550
+15.1%
Short-term borrowings
0.0
n/a
n/a
Debt
628
553
641
+13.5%
Other liabilities
471
483
378
-2.4%
Total liabilities and equity
1,844
1,684
1,570
+9.5%
Fixed assets
85.7
87.6
101
-2.2%
Goodwill
976
868
823
+12.4%
Intangible assets
285
207
154
+37.7%
Investments
41.7
46.5
44.5
-10.2%
Trading assets
2.1
2.4
2.4
-12.3%
Cash and equivalents
62.4
61.5
121
+1.4%
Receivables
124
114
88.0
+8.8%
Inventory
42.0
39.4
29.0
+6.5%
Other assets
225
257
207
-12.4%
Total assets
1,844
1,684
1,570
+9.5%
10-K for the year ended 31 December 2015, filed 19 February 2016: the filing.