Wright Express Reports Lower 3Q Income

Wright Express Corp.’s third-quarter profit fell to $23.4 million, or 60 cents per share, compared with $72.3 million, or $1.82, a year ago.

Operating income dipped to $50.3 million, from $54.1 million, the company said in a statement.

Revenue fell to $85.9 million, from $107.7 million a year ago. Revenue from payment processing declined to $59.9 million, from $83.7 million.

Wright Express provides payment processing and information management services to fleets and its charge cards are used by to buy fuel and maintenance services for about 4.6 million vehicles, the Associated Press reported.

For the fourth quarter, the company expects adjusted earnings of 50 to 55 cents per share. For 2009, Wright Express predicted its adjusted net income would be $2.12 to $2.17 per share.