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Cass Information Systems, Inc. Reports Record 3rd Quarter 2010 Earnings; Increases Dividend 14%

Cass Information Systems, Inc. (NASDAQ: CASS), the nation's leading provider of transportation, utility and telecom invoice payment and information services, reported record third quarter 2010 earnings of $.59 per diluted share, a 28% increase over the $.46 per diluted share it earned in the third quarter of 2009. Net income for the period was $5.6 million, a 29% increase over the $4.3 million reported in 2009.

 
    3 rd Quarter    

%

    YTD    

%

  2010     2009 Change 2010     2009 Change
Transportation Dollar Volume $4.5 billion $3.6 billion

26.9%

$12.5 billion $10.4 billion

20.7%

Utility Dollar Volume $2.9 billion $2.5 billion

13.0%

$7.9 billion $7.3 billion

8.7%

Revenues $24.7 million $22.0 million

12.4%

$71.2 million $65.4 million

8.9%

Net Income $5.6 million $4.3 million

29.2%

$15.2 million $11.9 million

28.0%

Diluted Earnings per Share     $.59     $.46    

28.3%

    $1.61     $1.27    

26.8%

 

2010 3rd Quarter Recap

Increased activity from both base customers and new customers helped transportation transaction dollar volume surge more than 26%, with utility transaction dollar volume up a solid 13%. Overall, revenues for the quarter grew to $24.7 million, a 12% increase over the $22.0 million posted in 2009.

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