Deluxe Corp., a direct marketer of checks and business forms, reported a drop in revenue but a gain in net income during its second quarter.
Revenue fell to $317.8 million, compared with $322. million during the same period last year. The firm attributed this to a 2.7% decline in the number of units sold, which was partially offset by a 1.3% increase in revenue per unit.
Net income rose to $44.3 million, compared with $42.6 million during last year’s second quarter.
CEO Lawrence J. Mosner said in a statement that the firm “delivered the results we expected through the first half of the year,” and that it would meet its third- and fourth-quarter expectations.
The firm’s Direct Checks division, which sells checks and related products by direct mail and the Web, posted revenue of $75 million during the quarter, up 4.6 from the second quarter of 2000. Operating income rose by 14.7% to $16.4 million.
The firm attributed this increase to a price hike and a gain in units sold per order.
Another division, Business Forms, enjoyed a 9.3% revenue gain
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