Cass Information Systems, Inc. Reports 2nd Quarter 2013 Earnings

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
                YTD        
        2013         2012    

% Change
    2013         2012    

% Change
 
  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        

--
        $1.04         $1.03         1.0%  

*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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