South Portland-based Wright Express Corp. saw profits of $30 million in the second quarter on revenues of $91.4 million, according to reports filed today with the Securities and Exchange Commission.
That was down from profits of $93.2 million from the same period a year ago. The company, however, noted that the profit from last year included a pre-tax gain of $136.5 million on the prepayment of the firm’s liability under a tax-receivable agreement.
Wright Express Corp. is a leading provider of payment processing and information management services to the U.S. commercial and government vehicle fleet industry.
Wright Express also released projections for the next quarter and full year.
“Although the outlook for the economy has become more uncertain and we are watching the trends very closely, we have yet to see signs of an impending slowdown in our business,” said CEO Mike Dubyak. “We remain enthusiastic about our market opportunities and focused on delivering consistent results for our shareholders for the long term.”
In the third quarter of 2010, Wright Express expects revenue in the range of $91 million to $96 million. Profits are expected to be in the range of $25 million to $27 million. For the full year 2010, the company expects revenue in the range of $354 million to $364 million and profits in the range of $97 million to $101 million.
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