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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  

%

    2010   2009   Change   2010   2009   Change
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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