Deluxe (DLX) FY2016 results: revenue $1.8 billion, up 4.3% on the year
Deluxe Corp. (DLX) reported revenue of $1.8 billion for fiscal 2016, the year ended 31 December 2016, up 4.3% on the year before. Net income was $229 million, up 4.9%, and diluted earnings per share $4.65. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2017.
Revenue
$1.8 billion
+4.3% on the year
FY2009FY2016
Operating margin
19.8%
20.0% a year earlier
FY2009FY2016
Net income
$229 million
+4.9% on the year
FY2009FY2016
Diluted EPS
$4.65
+6.7% on the year
FY2009FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
1,849
1,773
1,674
+4.3%
Cost of revenue
667
639
606
+4.4%
Gross profit
1,182
1,134
1,068
+4.3%
Gross margin
63.9%
63.9%
63.8%
Selling, general and administrative
806
775
719
+4.0%
Operating income
367
354
333
+3.5%
Operating margin
19.8%
20.0%
19.9%
Interest expense
22.3
20.3
36.5
+9.9%
Pre-tax income
340
328
297
+3.8%
Income tax
111
109
97.4
+1.5%
Effective tax rate
32.6%
33.3%
32.8%
Net income
229
219
200
+4.9%
Net margin
12.4%
12.3%
11.9%
Diluted EPS
$4.65
$4.36
$3.96
+6.7%
$ 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
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
319
310
285
+3.1%
Capital expenditure
46.6
43.3
41.1
+7.8%
Free cash flow
273
266
244
+2.4%
Free cash flow margin
14.7%
15.0%
14.6%
Depreciation and amortisation
91.6
76.7
65.8
+19.4%
Share-based compensation
12.5
11.9
9.8
+4.8%
Buybacks
55.2
60.0
60.1
-7.9%
Dividends paid
58.7
59.8
57.6
-1.7%
Dividend per share
$1.20
$1.20
$1.15
0.0%
Diluted shares, weighted
49m
50m
50m
-1.7%
Shares outstanding at period end
49m
49m
50m
-1.0%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
881
745
647
+18.2%
Short-term borrowings
n/a
0.0
n/a
Debt
759
628
553
+20.8%
Other liabilities
545
471
483
+15.6%
Total liabilities and equity
2,184
1,844
1,684
+18.4%
Fixed assets
86.9
85.7
87.6
+1.4%
Goodwill
1,106
976
868
+13.3%
Intangible assets
410
285
207
+43.6%
Investments
42.2
41.7
46.5
+1.3%
Trading assets
1.9
2.1
2.4
-10.2%
Cash and equivalents
76.6
62.4
61.5
+22.7%
Receivables
153
124
114
+23.4%
Inventory
40.2
42.0
39.4
-4.2%
Other assets
268
225
257
+19.1%
Total assets
2,184
1,844
1,684
+18.4%
10-K for the year ended 31 December 2016, filed 24 February 2017: the filing.