Wright Express reports Q1 financial results

Strong performance from corporate charge card product

Total revenue for the quarter increased 17% to USD140.1 million from USD120.1 million during the same period last year (view press release). Net income to shareholders was USD23.2 million, USD0.59 per diluted share, compared with USD12.1 million, or USD0.31 per diluted share, last year. Adjusted net income for the quarter increased 22% to USD35.6 million, USD0.91 per diluted share, from USD29.2 million, USD0.75 per diluted share, for the same period last year.

During the quarter we made greater progress in expanding our core fleet business, with new business wins driving organic growth,” said Wright Express chairman, president and CEO Michael Dubyak. “Furthermore, we saw strong performance from our corporate charge card product and took additional steps to capitalize on increasing international market acceptance to accelerate the growth of this product. Looking ahead, with positive momentum in the business we feel optimistic about the long-term direction of our business given the growth platforms we have established.”

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