New Haven's Higher One Holdings Inc. saw first-quarter profits climbed 22 percent amid a 12 percent gain in subscription sales for its on-campus electronic payment service.
For three months ended March 31, Higher One netted $13. 4 million, 23 cents a fully diluted share, up from $11 million, or 19 cents a share, netted the same period last year.
First-quarter revenues were $57.8 million vs. $51.4 million a year ago.
Higher One said revenue growth was mostly due to an increase in the number of OneAccounts and a gain in the number of schools that have contracted for its services.