Fleet payment-processing company Wex Inc. said its third-quarter profit rose from a year ago.
Net income increased to $43.8 million, or $1.12 cents a share, from $14.3 million, or 37 cents, a year ago, said Wex, which was previously known as Wright Express.
The South Portland, Maine-based company’s revenue rose 19% to $197.5 million.
Wex said it expects its fourth-quarter revenue to decline on lower fuel prices to $173 million to $178 million, and its income to rise based on strong third-quarter earnings to $41 million to $44 million, or $1.04 to $1.12 per share.
It expects full-year revenue in the range of $708 million to $713 million and net income in the range of $171 million to $174 million, or $4.37 to $4.44 per share.