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DELUXE REPORTS RECORD FIRST QUARTER SALES AND EARNINGS

 ST. PAUL, Minn., April 23 /PRNewswire/ -- Deluxe Corporation (NYSE: DLX) reports record sales for the first quarter of 1993 were $405,747,277, up 5.3 percent over the first quarter of 1992 when sales were $385,293,947.
 Net income for the period was a record $51,791,321, up 6.0 percent from last year's first quarter earnings of $48,880,809. Net income per share for the quarter was $.62 compared to $.58 in 1992.
 The company had an average of 83,520,388 shares outstanding with par value of $1 per share.
 Chairman and Chief Executive Officer Harold V. Haverty said that although sales and earnings were at record levels in the first quarter, growth rates remained below the company's targets. "We are pleased to report record sales and earnings," Haverty said, "but we are not satisfied with the revenue growth we have reported the last two years. We have not gotten much help from the economy, and we continue to look for new ways to grow," said Haverty.
 He added that one potential growth area involves Deluxe's new water-washable lithographic ink, the development of which Deluxe announced April 14. "This ink could have major environmental benefits for the lithographic printing industry and we are entertaining numerous proposals for its potential commercialization," Haverty 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, debit and credit card services, and account verification services to financial institutions. The company also provides check authorization services to retailers. Deluxe's Business Systems Division produces a variety of computer and business forms and related products for small businesses and professional practices; and also tax forms and electronic tax filing services to independent tax preparation professionals. 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
 (Dollars in millions, except per share)
 (Unaudited)
 Quarter Ended
 3/31/93 3/31/92
 Sales $405.7 $385.3
 Cost of goods sold 185.8 178.6
 Gross profit 219.9 206.7
 Selling/general & administrative 117.7 106.7
 Employee sharing 22.3 21.4
 Non-operating income (1.8) (1.1)
 Pretax income 81.7 79.7
 Income tax 29.9 30.8
 Net income $51.8 $48.9
 Earnings per share $.62 $.58
 DELUXE CORPORATION
 CONDENSED BALANCE SHEET
 (Millions)
 3/31/93 12/31/92
 (Unaudited)
 ASSETS
 Current assets $581.8 $611.3
 Property, plant & equipment - net 402.4 389.0
 Other investments 22.2 20.9
 Intangibles - net 177.8 178.4
 Total assets $1,184.2 $1,199.6
 LIABILITIES & EQUITY
 Current liabilities $213.2 $224.4
 Long term debt 115.0 115.5
 Deferred credits 34.5 29.9
 Shareholders' equity 821.5 829.8
 Total liabilities & equity $1,184.2 $1,199.6
 SHARES OUTSTANDING 83.1 83.8
 -0- 4/23/93
 /CONTACT: Stuart Alexander, vice president, corporate public relations, 612-483-7358; or Charles Osborne, senior vice president and chief financial officer, 612-483-7355, both of Deluxe Corporation/
 (DLX)


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

KH -- MN004 -- 9940 04/23/93 10:03 EDT
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Date:Apr 23, 1993
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