Green Dot Q4 net income rises
Green Dot has reported a net income of $13.42m, or $0.33 diluted earnings per share, for the fourth quarter of 2011, compared to $7.94m, or $0.18 diluted earnings per share, for the same period in 2010.
Total operating revenues were $119.67m for the fourth quarter of 2011, up 30%, compared to $91.85m for the same period in the previous year.
Operating income was $22.29m, compared to $12.66m for the same period a year ago.
Green Dot chairman and CEO Steve Streit said that 2011 was their first full year as a public company and it was a year that furthered their leadership position in their industry.
"It was a year where we saw our cash and investment securities increase by another $97 million, thus enabling us to continue to invest in strategic M&A, technology infrastructure, regulatory compliance and consumer facing product and marketing initiatives in 2012 and beyond," added Streit.
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