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It is still early in the earnings season but some trends have started to emerge from companies that have reported. The most disturbing theme is that companies are positive on net income but revenues are falling short of estimates. Companies can cut cost to increase profits. However, revenues below estimates point to a slowing economy or possibly a recession. There are companies with both revenue growth and profit growth that have reported. Here is a list of companies bucking the revenue trend with significant increases in revenues and profits.

Access National Corporation (ANCX) is the parent company of Access National Bank, an independent, nationally chartered bank serving the business community of the greater Washington DC Metropolitan area. Access National is trading at $13.46 with a P/E of 11. ANCX has a dividend yield of 1.78% with a five-year average dividend growth rate of 43%.

Access National reported record second-quarter net income of $3.9 million, a 44.4% increase over the $2.7 million recorded in the second quarter of 2011. This represents the company's fourth consecutive quarterly earnings in excess of $3 million and its 48th consecutive quarterly profit over its 12½ year history. Net income per diluted common share was $0.38, an increase of 46.2% over the $0.26 reported in the second quarter of 2011.

Acme United Corporation (ACU) is a leading worldwide supplier of innovative cutting, measuring and safety products to the school, home, office, hardware and industrial markets. Its leading brands include Westcott®, Clauss®, Camillus®, PhysiciansCare ® and Pac-Kit®. Acme is trading at $10.74 with a P/E of 10. Acme has a dividend yield of 2.62% with a five-year average dividend growth rate of 12%.

Acme announced that net sales for the second quarter ended June 30, 2012, were $27.6 million, compared with $24.0 million in the comparable period of 2011, an increase of 15%. Net income was $2,061,000, or $.66 per diluted share, for the quarter ended June 30, 2012, compared with $1,743,000 or $.56 per diluted share for the comparable period last year, an increase of 18% in both net income and diluted earnings per share.

Net sales for the quarter ended June 30, 2012, in the U.S. segment increased 22% compared to the same period in 2011 primarily due to increased sales of Camillus knives, iPoint pencil sharpeners, paper trimmers and first aid products. Net sales for the six months ended June 30, 2012, in the U.S. segment increased 21% compared to the same period in 2011.

VF Corporation's (VFC) is the maker of clothes with brands including the North Face, Wrangler and Nautica. VFC is trading at $148.41 with a P/E of 18. VFC has a dividend yield of 1.92% with a five-year average dividend growth rate of 5.5%.

VFC's second-quarter profit climbed 20% as the branded-apparel maker reported higher revenue and a gain from the sale of one of its brands. For the second quarter, the company reported a profit of $155.3 million, or $ 1.40 a share, up from $129.4 million, or $1.17 a share, a year earlier. Revenue improved 16% to $2.14 billion, while revenue growth excluding the Timberland and Smartwool brands rose 3%. The company continues to see revenue growth of 15%.

Union Pacific Corporation (UNP) is one of the leading rail companies in the U.S. UNP is trading at $116.79 with a P/E of 15. UNP has a dividend yield of 2.05% with a five-year average dividend growth rate of 27%.

UNP reported a 28% rise in second-quarter earnings as price increases and lower fuel costs helped the railroad overcome a big drop in the amount of coal that it hauled. The railroad, based in Omaha, Neb., reported a profit of $1 billion, or $2.10 a share, up from $785 million, or $1.59 a share, a year earlier. Revenue jumped 7.5% to $5.22 billion. UNP continued to get a boost from the U.S. oil-and-gas drilling boom in the second quarter. The railroad transports steel, sand and pipe to drilling sites where oil and gas are extracted from shale rock, and then hauls out resulting crude oil.

Source: Dividend Stocks With Growth In Both Revenues And Net Income