FleetCor Technologies reported $302 million in fourth-quarter net income earlier this month, which exceeded Wall Street expectations, reports the Associated Press.

The Peachtree Corners, Ga.-based provider of fleet fuel cards and workforce payment products said it had net income of $3.33. Earnings adjusted for non-recurring gains came in at $2.78 per share.

During the quarter that ended Jan. 31, FleerCor posted revenue of $643.4 million, which also beat expectations. The company reported its results on Feb. 6. On Feb. 7, FleetCor shares increased to $218.07 from the $205.18 close the earlier day.

"All-in-all, Q4 maybe one of our best quarters ever," said Ron Clarke, chairman and CEO. "Revenue was way above expectations accelerating organic fuel card revenue growth back to 9%. Profit is at the top of our guidance range, record sales and continued healthy client same-store sales and retention levels."

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Paul Clinton

Paul Clinton

Former Senior Web Editor

Paul Clinton covered an array of fleet and automotive topics for Automotive Fleet, Government Fleet, Mobile Electronics, Police Magazine, and other Bobit Business Media publications.

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