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DELUXE REPORTS FOURTH QUARTER, YEAR-END RESULTS

 ST. PAUL, Minn., Jan. 26 /PRNewswire/ -- Deluxe Corporation (NYSE: DLX) reports that sales for the fourth quarter were $412,547,934, up 4.2 percent from $395,807,989 last year, while net earnings were $55,727,203 or $.67 per share, up 5.7 percent, compared to $52,720,897 or $.63 per share, in 1991.
 Sales for the year 1992 reached a record $1,534,351,407, an increase of 4.1 percent over last year's $1,474,481,693. Net income for this same period was a record $202,783,696, or $2.42 per share, up 10.9 percent, compared to last year's $182,902,091, or $2.18 per share.
 Dividends of $1.34 per share, amounting to $112,482,681, were paid to shareholders during 1992, compared to $1.22 per share and $102,512,023 in 1991. The company had an average of 83,773,823 shares outstanding for the fourth quarter and an average of 83,861,247 shares outstanding for the year 1992.
 Chairman and Chief Executive Officer Harold V. Haverty said Deluxe performed well despite the current economic environment. "We witnessed our 54th consecutive year of increased revenues, even though our primary businesses saw their growth slowed by economic conditions," Haverty said.
 He attributed Deluxe's record earnings to improved productivity, cost management, and employee performance. "We continue to respond to a demanding marketplace and feel we are well-positioned for any turnaround in the economy," he said.
 Deluxe Corporation is an industry leader in providing products and services to the financial payment systems industry. The company is the nation's largest check printer and also provides electronic funds transfer (EFT) processing services and software, ATM card services, and account verification services to financial institutions. The company also provides check authorization services to retailers; and forms and electronic tax filing services to independent tax preparation professionals. Deluxe's Business Systems Division produces a variety of computer and business forms and related products for small businesses and professional practices. The company's consumer specialty products division markets greeting cards, gift wrap, stationery, and a variety of related products to households.
 DELUXE CORPORATION
 Condensed Statements of Income
 Quarter Ended Dec. 31
 Dollars in Millions Except per Share
 Unaudited
 1992 1991
 Sales $412.5 $395.8
 Cost of goods sold 190.1 186.4
 Gross Profit 222.4 209.4
 Selling/general & administrative 113.6 107.6
 Employee sharing 22.8 19.1
 Non-operating expense, (income) .4 (1.8)
 Pretax income 85.6 84.5
 Income tax 29.9 31.8
 Net income $55.7 $52.7
 Earnings per share $.67 $.63
 DELUXE CORPORATION
 Condensed Statements of Income
 Twelve Months Ended Dec. 31
 Dollars in Millions Except per Share
 Unaudited
 1992 1991
 Sales $1,534.4 $1,474.5
 Cost of goods sold 703.0 702.1
 Gross profit 831.4 772.4
 Selling/general & administrative 423.4 406.6
 Employee sharing 85.8 77.8
 Non-operating expense, (income) (2.6) (7.5)
 Pretax income 324.8 295.5
 Income Tax 122.0 112.6
 Net income $202.8 $182.9
 Earnings per share $2.42 $2.18
 DELUXE CORPORATION
 Condensed Balance Sheet
 Millions
 Unaudited
 Dec. 31, 1992 Dec. 31, 1991
 ASSETS
 Current assets $608.7 539.0
 Property, plant, & equipment -- net 389.0 373.2
 Other investments 27.7 20.7
 Intangibles -- net 171.6 166.2
 Total Assets $1,197.0 $1,099.1
 LIABILITIES & EQUITY
 Current liabilities $224.4 $208.0
 Long term debt 115.5 110.6
 Deferred credits 27.3 32.5
 Shareholders' equity 829.8 748.0
 Total Liabilities & Equity $1,197.0 $1,099.1
 Shares outstanding 83.8 83.9
 -0- 1/26/93
 /CONTACT: Stuart Alexander, vice president of corporate public relations, 612-483-7358, or Charles M. Osborne, senior vice president and chief financial officer, 612-483-7355, both of Deluxe/
 (DLX)


CO: Deluxe Corporation ST: Minnesota IN: SU: ERN

MP -- MN005 -- 9045 01/26/93 11:53 EST
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Date:Jan 26, 1993
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