Cass Information Systems, Inc. (NASDAQ: CASS), the nation's leading provider of transportation, utility and telecom invoice payment and information services reported record first quarter 2011 earnings of $.60 per diluted share, a 20% increase compared to the $.50 per diluted share it earned in the first quarter of 2010. Net income for the period was $5.7 million, compared to $4.7 million in 2010.
2011 1st Quarter Recap
|March 31, 2011||March 31, 2010||% Change|
|Transportation Dollar Volume||$4.6 billion||$3.8 billion||21%|
|Utility Dollar Volume||$2.7 billion||$2.6 billion||3%|
|Revenues||$26.1 million||$22.8 million||15%|
|Net Income||$5.7 million||$4.7 million||20%|
|Diluted Earnings per Share||$.60||$.50||20%|
Payment and processing fees increased $1.6 million, or 13%, compared to the year-earlier period. Transportation dollar volume was up 21% and utility dollar volume rose 3% due to new business and improved activity from existing customers.