Cass Information Systems, Inc. (NASDAQ: CASS), the nation's leading provider of transportation, utility, telecom and environmental invoice payment and information services, reported first quarter 2012 earnings of $.56 per diluted share, a 2% increase over the $.55 per diluted share it earned in the first quarter of 2011. Net income for the period was $5.9 million, 3% higher than the $5.7 million reported in 2011.
2012 1st Quarter Recap
|March 31, 2012||March 31, 2011||% Change|
|Transportation Dollar Volume||$5.4 billion||$4.6 billion||17.8%|
|Utility Dollar Volume||$2.6 billion||$2.7 billion||(3.6)%|
|Revenues||$28.4 million||$26.1 million||9.0%|
|Net Income||$5.9 million||$5.7 million||3.3%|
|Diluted Earnings per Share||$.56||$.55||1.8%|
Payment and processing fees increased $2.1 million, or 15%, compared to the year earlier period. Transportation dollar volume was up 18% due to new business and improved activity from existing customers. Utility dollar volume fell 4% due to the unseasonably mild winter temperatures experienced across much of the U.S.