Cass Information Systems, Inc. (NASDAQ: CASS), the nation’s leading provider of transportation, energy, telecom and environmental invoice payment and information services reported second quarter 2013 earnings of $.52 per diluted share, equaling the earnings it reported in the second quarter of 2012. Net income for the period was $6.1 million, slightly higher than the $6.0 million reported in 2012.
2 nd Quarter
|Transportation Dollar Volume||$5.9 billion||$5.7 billion||3.6%||$11.3 billion||$11.0 billion||2.1%|
Facility Expense Dollar Volume*
|$2.8 billion||$2.6 billion||5.7%||$5.4 billion||$5.4 billion||.9%|
|Revenues||$29.2 million||$28.4 million||2.8%||$57.6 million||$56.8 million||1.4%|
|Net Income||$6.1 million||$6.0 million||1.9%||$12.1 million||$11.9 million||2.0%|
|Diluted Earnings per Share||$.52||$.52||
*Includes Energy, Telecom and Environmental
2013 2nd Quarter Recap
The primary impediment to earnings growth remained a historically low interest rate environment that continues to erode the company’s net interest margin. In the second quarter, Cass net investment income declined by $.5 million, or 5%.
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