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Cass Information Systems, Inc. Reports Record 1st Quarter Earnings

Stocks in this article: CASS

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.

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