July 31, 2013 8:25 AM, EDT
WEX Inc.’s Net Income Rises

Fleet payment processing company WEX Inc. said its second-quarter profit rose from a year ago.

Net income increased to $42.2 million, or $1.08 cents a share, from $30.3 million, or 78 cents, a year ago, said WEX, which was previously known as Wright Express.

The South Portland, Maine-based company’s revenue rose 16% to $178.3 million.

WEX expects its third-quarter revenue to rise on higher fuel prices to $186 million to $193 million, and its income to rise to $45 million to $48 million, or $1.16 to $1.23 per share.