Cass Information Systems, Inc. Reports Record 2nd Quarter 2010 Earnings; 33% Increase Over Q2 2009
Cass Information Systems, Inc. (NASDAQ: CASS), the nation's leading provider of transportation, utility and telecom invoice payment and information services, reported record second quarter 2010 earnings of $.52 per fully-diluted share, a 33% increase over the $.39 per fully diluted share it earned in the second quarter of 2009. Net income for the period was $4.9 million, a nearly 34% increase over the $3.7 million reported in 2009.
|2 nd Quarter||%||YTD||%|
|Transportation Dollar Volume||$4.2 billion||$3.4 billion||23.6%||$8.0 billion||$6.8 billion||17.5%|
|Utility Dollar Volume||$2.5 billion||$2.3 billion||8.3%||$5.1 billion||$4.8 billion||6.3%|
|Revenues||$23.8 million||$21.7 million||9.2%||$46.5 million||$43.4 million||7.1%|
|Net Income||$4.9 million||$3.7 million||33.8%||$9.6 million||$7.6 million||27.2%|
|Diluted Earnings per Share||$.52||$.39||33.3%||$1.02||$.81||25.9%|
2010 2nd Quarter Recap
Increased activity from both base customers and new customers helped transportation transaction dollar volume surge more than 23%, with utility transaction volume up a steady 8%. Overall, revenues for the quarter grew to $23.8 million, a 9% increase over the $21.7 million posted in 2009.
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