The 92-year-old check printer was known for layoffs and corporate angst until the May 2006 arrival of NCR veteran Lee Schram, a seasoned sales executive, as CEO. Lately, Shoreview-based Deluxe, which rose in market value by 179 percent during the year ended June 30, is growing again thanks to an expansive strategy that includes the small-business clients of its cornerstone bank customers. Deluxe call centers now offer a menu of small-business products that the company produces, including glossy corporate brochures, business cards, purchasing forms, labels, stationery, and corporate checks. The company expects that its non-check revenue will rise to half of total sales by 2010, up from less than 10 percent in 2003. Deluxe, with annual revenue of about $1.6 billion, has been rewarded by Wall Street analysts and investors, who see the bank-client strategy more than making up for the declining check business.
