Wright Express Revenues Grow 20 Percent in 1Q 2005
SOUTH PORTLAND, ME
— Wright Express Corp., a provider of payment processing and information management services, reported revenues for the first quarter of 2005 increased 20 percent to $52.2 million from $43.6 million for the first quarter of 2004.
First-quarter 2005 performance metrics include:
Wright Express prepaid $20 million on its term debt. The company expects to continue using available cash to prepay debt.
Average number of vehicles serviced increased 8 percent from the first quarter of 2004 to 3.9 million.
Total transactions processed increased 7 percent from the first quarter of 2004 to 52.5 million. Payment processing transactions increased 8 percent to 37.4 million, and transaction processing transactions increased 5 percent to 15.1 million.
Average expenditure per payment processing transaction grew to $39.04, an increase of 22 percent from the same period last year.
Average retail fuel price was $1.97 per gallon, compared with $1.64 per gallon for the first quarter a year ago, an increase of 20 percent.
Total MasterCard purchase volume grew to $255.4 million, an increase of 37 percent from the comparable period a year ago.