Deluxe (DLX) FY2019 results: revenue $2.0 billion, up 0.5% on the year
Deluxe Corp. (DLX) reported revenue of $2.0 billion for fiscal 2019, the year ended 31 December 2019, up 0.5% on the year before. Net income was -$224 million, and diluted earnings per share $-5.20. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2020.
Revenue
$2.0 billion
+0.5% on the year
FY2012FY2019
Operating margin
-9.4%
11.6% a year earlier
FY2012FY2019
Net income
-$224 million
FY2012FY2019
Diluted EPS
-$5.20
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
2,009
1,998
1,966
+0.5%
Cost of revenue
813
792
742
+2.7%
Gross profit
1,196
1,206
1,223
-0.9%
Gross margin
59.5%
60.4%
62.2%
Selling, general and administrative
892
854
829
+4.4%
Operating income
-188
231
329
Operating margin
-9.4%
11.6%
16.7%
Interest expense
34.7
27.1
21.4
+27.9%
Pre-tax income
-216
213
313
Income tax
8.0
63.0
82.7
-87.2%
Effective tax rate
n/a
29.6%
26.4%
Net income
-224
150
230
Net margin
-11.1%
7.5%
11.7%
Diluted EPS
-$5.20
$3.16
$4.72
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
287
339
338
-15.5%
Capital expenditure
66.6
62.2
47.5
+7.0%
Free cash flow
220
277
291
-20.6%
Free cash flow margin
11.0%
13.9%
14.8%
Cash from investing
-72.4
-253
-181
Cash from financing
-190
-62.2
-183
Depreciation and amortisation
126
131
123
-3.9%
Share-based compensation
19.7
13.4
15.1
+47.3%
Buybacks
119
200
65.0
-40.7%
Dividends paid
51.7
56.7
58.1
-8.7%
Dividend per share
$1.20
$1.20
$1.20
0.0%
Diluted shares, weighted
43m
47m
48m
-8.4%
Shares outstanding at period end
42m
45m
48m
-5.6%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
571
915
1,015
-37.6%
Non-controlling interest
0.0
n/a
n/a
Debt
884
910
707
-2.9%
Operating lease liabilities
33.6
0.0
n/a
Other liabilities
455
480
486
-5.1%
Total liabilities and equity
1,943
2,305
2,209
-15.7%
Fixed assets
96.5
90.3
84.6
+6.8%
Goodwill
774
1,161
1,131
-33.3%
Intangible assets
276
360
384
-23.3%
Investments
45.0
43.8
42.6
+2.8%
Cash and equivalents
73.6
59.7
59.2
+23.2%
Receivables
163
174
150
-6.0%
Inventory
39.9
46.4
42.2
-14.0%
Other assets
474
370
315
+28.1%
Total assets
1,943
2,305
2,209
-15.7%
10-K for the year ended 31 December 2019, filed 21 February 2020: the filing.