Deluxe Corporation announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2017. For the quarter, the company reported total revenue of $494.9 million against $480.2 million a year ago. Operating income was $98.5 million against $92.8 million a year ago. Income before income taxes was $93.8 million against $78.4 million a year ago. Net income was $84.7 million or $1.75 diluted per share against $54.2 million or $1.11 diluted per share a year ago. Capital expenditures were $13.1 million against $14.4 million a year ago. EBITDA was $130.8 million against $109.3 million a year ago. Adjusted EBITDA was $136.6 million against $124.8 million a year ago. Adjusted operating income was $104.3 million against $100.4 million a year ago. Revenue increased 3.1% year-over-year, driven by Financial Services growth of 11.0% which includes the results of FMCG Direct and Data Support Systems, which were acquired in the fourth quarter of 2016 and RDM Corporation, which was acquired in April 2017, and Small Business Services growth of 1.3% which includes the results of several small tuck-in acquisitions.

For the year, the company reported total revenue of $1,965.6 million against $1,849.1 million a year ago. Operating income was $331.2 million against $368.7 million a year ago. Income before income taxes was $312.8 million against $340.4 million a year ago. Net income was $230.2 million or $4.72 diluted per share against $229.4 million or $4.65 diluted per share a year ago. Capital expenditures were $47.5 million against $46.6 million a year ago. EBITDA was $456.9 million against $454.3 million a year ago. Adjusted EBITDA was $523.3 million against $474.9 million a year ago. Cash provided by operating activities was $338.4 million against $319.3 million a year ago. Purchases of capital assets were $47.5 million against $46.6 million a year ago. Adjusted operating income was $397.6 million against $381.4 million a year ago.

The company provided earnings guidance for the first quarter of 2018 and revised earnings guidance for the full year of 2018. For the quarter, the company expects revenue in the range of $482 million to $490 million, diluted EPS – GAAP in the range of $1.25 to $1.31 and adjusted diluted EPS – non-GAAP in the range of $1.27 to $1.33.

For the year, the company is raising their expectations from their previous initial outlook for consolidated revenue in the range of $2.065 to $2.105 billion or about 5% to 7% overall growth and about 1% organic growth, diluted EPS - GAAP in the range of $5.42 to $5.67, raising their expectations from their previous initial outlook for adjusted diluted earnings per share to an expected range from $5.55 to $5.80, capital expenditures of approx. $55 million, depreciation and amortization of approx. $146 million and effective tax rate of approx. 25%. The company expects to continue generating strong operating cash flow ranging between $360 million and $380 million in 2018, reflecting stronger earnings and lower tax payments, partially offset by higher interest and employee benefits.