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DELUXE REPORTS SECOND QUARTER SALES AND EARNINGS

 ST. PAUL, Minn., July 26 /PRNewswire/ -- Deluxe Corporation (NYSE: DLX) reports that sales for the second quarter were $362,868,434, compared to $363,916,114 last year, while net earnings were $2,246,312 or $.03 per share, compared to $47,642,566 or $.57 per share a year ago.
 Sales for the first six months of 1993 reached $768,615,711, up 2.6 percent from $749,210,061 a year ago. Net earnings for the period were $54,037,633 or $.65 per share, compared to $96,523,375 or $1.15 per share a year ago. 1993 quarter and six month results include a $60,000,000 restructuring charge in the second quarter.
 The company had an average of 82,984,424 shares outstanding for the quarter and 83,274,796 shares outstanding for the six-month period with par value of $1.00 per share.
 Harold V. Haverty, chairman and chief executive officer, said that the weak economic recovery in the United States is restraining the company's ability to meet its revenue targets. "The persistently high levels of unemployment and low consumer confidence present a particularly difficult challenge for some of our businesses," Haverty said.
 Deluxe announced in June that it will be closing 16 of its more than 60 Check Printing Division facilities, and the company has taken a $60 million pretax restructuring charge in the second quarter in connection with the plant consolidations. "The implementation of new technologies has greatly increased our check production capacity," Haverty said. "This restructuring will enable our traditional check printing business to be much more efficient, positioning it to respond to competitive challenges in the financial institution market."
 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
 QUARTER ENDED JUNE 30
 (Dollars in millions except per share data)
 (Unaudited)
 6/30/93 6/30/92
 Sales $362.9 $363.9
 Cost of goods sold 168.9 166.0
 Gross profit 194.0 197.9
 Selling/general & administrative 108.8 99.9
 Employee sharing 21.4 21.0
 Restructuring charge 60.0 --
 Non-operating income (1.2) (0.9)
 Pretax income 5.0 77.9
 Income tax 2.8 30.3
 Net income $2.2 $47.6
 Earnings per share $.03 $.57
 DELUXE CORPORATION
 CONDENSED STATEMENTS OF INCOME
 SIX MONTHS ENDED JUNE 30
 (Dollars in millions except per share data)
 (Unaudited)
 6/30/93 6/30/92
 Sales $768.6 $749.2
 Cost of goods sold 354.8 344.6
 Gross profit 413.8 404.6
 Selling/general & administrative 226.5 206.6
 Employee sharing 43.7 42.4
 Restructuring charge 60.0 --
 Non-operating income (3.1) (2.0)
 Pretax income 86.7 157.6
 Income tax 32.7 61.1
 Net income $54.0 $96.5
 Earnings per share $.65 $1.15
 DELUXE CORPORATION
 CONDENSED BALANCE SHEET
 (Millions)
 (Unaudited)
 6/30/93 12/31/92
 Assets
 Current assets $548.6 $611.3
 Property, plant, & equipment - net 407.3 389.0
 Other investments 22.0 20.9
 Intangibles - net 175.1 178.4
 Total assets $1,153.0 $1,199.6
 Liabilities & equity
 Current liabilities $235.8 $224.4
 Long term debt 109.0 115.5
 Deferred credits 34.4 29.9
 Shareholders' equity 773.8 829.8
 Total liabilities & equity $1,153.0 $1,199.6
 Shares outstanding 82.6 83.8
 -0- 7/26/93
 /CONTACT: Stuart Alexander, vice president 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: PUB SU: ERN

DB -- MN013 -- 5669 07/26/93 11:50 EDT
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Date:Jul 26, 1993
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