Deluxe (DLX) FY2017 results: revenue $2.0 billion, up 6.3% on the year
Deluxe Corp. (DLX) reported revenue of $2.0 billion for fiscal 2017, the year ended 31 December 2017, up 6.3% on the year before. Net income was $230 million, up 0.3%, and diluted earnings per share $4.72. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2018.
Revenue
$2.0 billion
+6.3% on the year
FY2010FY2017
Operating margin
16.7%
19.8% a year earlier
FY2010FY2017
Net income
$230 million
+0.3% on the year
FY2010FY2017
Diluted EPS
$4.72
+1.5% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
1,966
1,849
1,773
+6.3%
Cost of revenue
742
667
639
+11.2%
Gross profit
1,223
1,182
1,134
+3.5%
Gross margin
62.2%
63.9%
63.9%
Selling, general and administrative
829
806
775
+2.8%
Operating income
329
367
354
-10.3%
Operating margin
16.7%
19.8%
20.0%
Interest expense
21.4
22.3
20.3
-4.2%
Pre-tax income
313
340
328
-8.1%
Income tax
82.7
111
109
-25.5%
Effective tax rate
26.4%
32.6%
33.3%
Net income
230
229
219
+0.3%
Net margin
11.7%
12.4%
12.3%
Diluted EPS
$4.72
$4.65
$4.36
+1.5%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
338
319
310
+6.0%
Capital expenditure
47.5
46.6
43.3
+1.8%
Free cash flow
291
273
266
+6.7%
Free cash flow margin
14.8%
14.7%
15.0%
Cash from investing
-181
n/a
n/a
Cash from financing
-183
n/a
n/a
Depreciation and amortisation
123
91.6
76.7
+33.9%
Share-based compensation
15.1
12.5
11.9
+21.3%
Buybacks
65.0
55.2
60.0
+17.7%
Dividends paid
58.1
58.7
59.8
-1.1%
Dividend per share
$1.20
$1.20
$1.20
0.0%
Diluted shares, weighted
48m
49m
50m
-1.1%
Shares outstanding at period end
48m
49m
49m
-1.2%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
1,015
881
745
+15.2%
Short-term borrowings
n/a
n/a
0.0
Debt
707
759
628
-6.8%
Other liabilities
486
545
471
-10.7%
Total liabilities and equity
2,209
2,184
1,844
+1.1%
Fixed assets
84.6
86.9
85.7
-2.6%
Goodwill
1,131
1,106
976
+2.3%
Intangible assets
384
410
285
-6.2%
Investments
42.6
42.2
41.7
+0.9%
Trading assets
n/a
1.9
2.1
Cash and equivalents
59.2
76.6
62.4
-22.6%
Receivables
150
153
124
-1.8%
Inventory
42.2
40.2
42.0
+5.1%
Other assets
315
268
225
+17.5%
Total assets
2,209
2,184
1,844
+1.1%
10-K for the year ended 31 December 2017, filed 23 February 2018: the filing.