---
title: Cass Information Systems, Inc. Report 1st Quarter 2011 Record Earnings
description: "ST. LOUIS, Apr 18, 2011 (BUSINESS WIRE) -- 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."
---

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# [Cass Information Systems, Inc. Report 1st Quarter 2011 Record Earnings](https://www.cassinfo.com/news/cass-information-systems-inc.-report-1st-quarter-2011-record-earnings)

 Written by [Cass Information Systems, Inc.](https://www.cassinfo.com/news/author/cass-information-systems-inc) | Apr 18, 2011, 9:48:00 AM

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

Net Income Increases 20% Compared to 1st Quarter of 2010

ST. LOUIS, Apr 18, 2011 (BUSINESS WIRE) -- 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.

Net investment income increased $1.7 million, or 18%, primarily due to the increase in average earning assets.

Overall operating expenses were up $1.9 million, or 12%, primarily due to the increase in processing activity.

"We are pleased to get 2011 off to a record start and remain committed to the core strategies that helped us weather the economic downturn and that are now generating notably positive results," said **Eric H. Brunngraber,** Cass president and chief executive officer. "We will continue to invest in initiatives that broaden and strengthen our relationships with clients as we remain optimistic about the future."

## About Cass Information Systems

Cass Information Systems, Inc. is the leading provider of [transportation](https://www.cassinfo.com/transportation-expense-management.aspx), [utility](https://www.cassinfo.com/utility-expense-management.aspx) and [telecom invoice payment](https://www.cassinfo.com/telecom-expense-management.aspx) formation services. The company, which has been involved in the payables services and information support business since 1956, disburses over $27 billion annually on behalf of customers from locations in St. Louis, Mo., Columbus, Ohio, Boston, Mass., Greenville, S.C. and Wellington, Kansas. The support of **Cass Commercial Bank**, founded in 1906, makes Cass Information Systems unique in the industry. Cass is part of the  **Russell 2000(R) Index**.

### Note to Investors

*Certain matters set forth in this news release may contain forward-looking statements that are provided to assist in the understanding of anticipated future financial performance.**However, such performance involves risks and uncertainties that may cause actual results to differ materially from those in such statements.**For a discussion of certain factors that may cause such forward-looking statements to differ materially from the company's actual results, see the company's reports filed from time to time with the Securities and Exchange Commission*

[View full post](https://www.cassinfo.com/news/cass-information-systems-inc.-report-1st-quarter-2011-record-earnings)

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