The Car and Truck Fleet and Leasing Management Magazine

Wright Express Revenues Grow 20 Percent in 1Q 2005

May 03, 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.
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