Wright Express Reports Higher Profit for 4Q, Year

Wright Express Corp.’s fourth-quarter profit grew to $32.8 million, or 84 cents per share, compared with $18.5 million, or 47 cents, a year ealier.

Revenue rose 22% to $139.8 million, the company said in a statement. Revenue from the company’s fleet payment operations rose to $107.5 million, from $93.9 million a year ago. 

The average number of vehicles serviced worldwide climbed 14% to 6.6 million, while total fuel transactions rose 8% to 80 million.

For full 2011, income climbed to $133.6 million, or $3.43 per share, from $87.6 million, or $2.25, in 2010. Revenue grew 42% to $553 million.

Wright Express said it expects first-quarter net income between $34 million and $36 million, or 87 and 93 cents per share.

For full 2012, the company projected net income in the range of $160 million to $168 million, or $4.10 to $4.30 per share.

Wright Express provides payment processing and information management services to fleets. Its charge cards are used by to buy fuel and maintenance services.