Deluxe Corp. reported net income of $39 million for the fourth quarter, down from net income of $47 million the year before.
The St. Paul, MN company attributed its performance to the loss of a large financial institution client late in 2004, continued pricing pressure and the overall decline in check usage.
The direct marketer and check printer reported revenue of $432 million for the quarter ended Dec. 30, down from $477 million the year before.
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