Processing Your Payment

Please do not leave this page until complete. This can take a few moments.

May 2, 2012

Revenues up 17% at Wright Express

Payment processor Wright Express released its first-quarter results, which show a 17% increase in total revenue. The South Portland-based company brought in $140.1 million in the first quarter of 2012, a rise over the $120.1 million reported in the same quarter in 2011, according to a press release. The company's adjusted net income, a non-GAAP number, was $35.6 million, a 22% rise over the first quarter of 2011.

The company, which handles payment processing for fleet vehicles, saw the average number of vehicles served worldwide rise 13% to 6.7 million. Its corporate charge card business also grew 52% to $2.2 billion, up from $1.4 billion in Q1 2011.

"During the quarter we made greater progress in expanding our core fleet business, with new business wins driving organic growth," said President and CEO Michael Dubyak in the release. He said the company is looking to increase its international market reach.

Sign up for Enews

Mainebiz web partners

Comments

Register for free to read more articles.

Register Now

Already have an online account? Login

To ensure the best experience on our website, articles cannot be read without allowing cookies. Please allow cookies to continue reading. Our privacy policy

Allow Cookies