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Wright Express Reports Second-Quarter Financial Results

            Quarterly Earnings Exceed Guidance; Revenue Grows 13%;
           TelaPoint Acquisition Expands Range of Services Offered

SOUTH PORTLAND, Maine, Aug. 7 /PRNewswire-FirstCall/ -- Wright Express Corporation (NYSE: WXS), a leading provider of payment processing and information management services to the U.S. commercial and government fleet industry, today reported financial results for the second quarter ended June 30, 2007.

For the second quarter of 2007, total revenue increased 13% to $86.0 million from $76.2 million in the second quarter of 2006. Net income to common shareholders on a GAAP basis was $18.3 million, or $0.45 per diluted share, compared with $9.9 million, or $0.24 per share, for the comparable quarter last year. On a non-GAAP basis, the Company's adjusted net income increased 45% to $20.5 million, or $0.50 per diluted share, from $14.1 million, or $0.34 per diluted share, for the year-earlier period.

Wright Express uses fuel-price derivative instruments to mitigate financial risks associated with the variability in fuel prices. For the second quarter of 2007, the Company's GAAP financial results include an unrealized $4.0 million pre-tax, non-cash, mark-to-market loss on these instruments. For the second quarter of 2006, the Company reported an unrealized pre-tax, non-cash, mark-to-market loss of $7.5 million. Exhibit 1 reconciles adjusted net income for the second quarters of 2007 and 2006, which has not been determined in accordance with GAAP, to net income as determined in accordance with GAAP.

Management uses the non-GAAP measures presented within this news release to evaluate the Company's performance on a comparable basis, to eliminate the volatility associated with its derivative instruments, and to measure the amount of cash that is available for making payments on the Company's financing debt and discretionary purposes. Management believes that investors may find these measures useful for the same purposes, but cautions that they should not be considered a substitute for disclosure in accordance with GAAP.

    Second-Quarter 2007 Performance Metrics

    -- Payment processing transactions increased 16% to 53.2 million and
       transaction processing transactions decreased 34% to 9.9 million,
       primarily reflecting the conversion to payment processing of the
       Company's ExxonMobil portfolio in December 2006.  Total fuel
       transactions processed increased 3% from the second quarter of 2006 to
       63.1 million.

    -- Average number of vehicles serviced was approximately 4.4 million,
       compared with approximately 4.3 million in the second quarter of 2006.

    -- Average expenditure per payment processing transaction increased 5% to
       $60.10 from $57.45 for the same period last year.

    -- Average retail fuel price was $2.95 per gallon, compared with $2.86 per
       gallon or a 3% increase over the second quarter a year ago.

    -- Total MasterCard purchase volume grew 40% to $464.4 million from $332.7
       million for the comparable period in 2006.

    -- Wright Express repurchased approximately 210,000 shares of its common
       stock at a cost of approximately $6.5 million during the second quarter
       of 2007.

    Additional selected non-financial metrics are presented in Exhibit 2.

    Management Comments

"Our financial results this quarter were strong with adjusted net income exceeding the top end of our guidance," said Michael Dubyak, president and chief executive officer. "This also was an excellent quarter from a business standpoint, with solid demand for fleet cards and transaction volume in line with expectations, as well as continued outstanding performance in MasterCard."

"Our direct and co-brand sales channels are doing well, and we posted another strong quarter of growth in our heavy truck segment," Dubyak said. "In addition, sequential trends in our private label channel were positive in the second quarter, suggesting the turnaround we forecasted for this line of business is under way."

"We expect the acquisition of TelaPoint, which we announced today, to provide Wright Express with an incremental revenue stream as well as an expansion of the range of services we offer, especially to fuel merchants," said Dubyak. "TelaPoint's browser-based software product transforms fuel merchants, distributors of all sizes and many commercial fleets - anyone with fuel storage tanks - into sales prospects for a Wright Express fuel inventory solution. This is an attractive, value-added complement to the fleet card relationship we have traditionally enjoyed with these key customers."

"Looking forward, we remain confident about our prospects for the second half of the year," Dubyak said. "Transaction volume in our core business met internal expectations this quarter and our pipeline of new business is favorable. We continue to execute successfully on our strategy to capture a larger share of total U.S. fleet spend while developing other opportunities to grow our revenue organically. The new credit facility we put in place during the quarter will give us additional flexibility for future acquisitions and to repurchase shares, while significantly reducing the cost of our debt. At the same time, as demonstrated by TelaPoint, we continue to seek opportunities for alliances, mergers or acquisitions that can accelerate our overall growth and/or enhance our strategic position."

Financial Guidance

Wright Express Corporation is issuing financial guidance for the third quarter of 2007 and updating financial guidance for the full year 2007. The Company's guidance excludes the impact of non-cash, mark-to-market adjustments on its fuel-price-related derivative instruments, as well as the amortization of intangibles purchased in connection with the acquisition of TelaPoint. The fuel prices referenced below are based on the applicable NYMEX futures price:

    -- For the third quarter of 2007, revenue in the range of $83 million to
       $88 million.  This is based on an assumed average retail fuel price of
       $2.97 per gallon.

    -- Third-quarter 2007 adjusted net income, excluding unrealized gain or
       loss on derivative instruments and amortization of purchased
       intangibles, in the range of $20 million to $22 million, or $0.50 to
       $0.53 per diluted share, based on approximately 41 million shares
       outstanding.

    -- For the full year 2007, revenue in the range of $320 million to $330
       million.  This is based on an assumed average retail fuel price of
       $2.77 per gallon.

    -- Net income for the full year 2007, excluding unrealized gain or loss on
       derivative instruments and amortization of purchased intangibles, in
       the range of $74 million to $77 million, or $1.82 to $1.88 per diluted
       share, based on approximately 41 million shares outstanding.

    Conference Call Details

In conjunction with this announcement, Wright Express will host a conference call today, August 7, at 9:00 a.m. (ET) to discuss the Company's second-quarter financial results, the TelaPoint acquisition and business outlook. The conference call will be webcast live on the Internet, and can be accessed at the "Investor Relations" section of the Company's website (http://www.wrightexpress.com). The live conference call can also be accessed by dialing (800) 479-1628 or (719) 457-2729. A replay of the webcast will be available on the Company's website for approximately three months.

About Wright Express

Wright Express is a leading provider of payment processing and information management services to the U.S. commercial and government vehicle fleet industry. Wright Express provides these services for approximately 295,000 commercial and government fleets containing 4.4 million vehicles. Wright Express markets these services directly as well as through more than 125 strategic relationships, and offers a MasterCard-branded corporate card. The Company employs more than 675 people and maintains its headquarters in South Portland, Maine. For more information about Wright Express, please visit http://www.wrightexpress.com.

This press release contains forward-looking statements, including statements regarding Wright Express Corporation's: expectation of continued improvement in total transaction volume and transaction volume in the private label channel; expectation of an incremental revenue stream and expansion in the Company's range of services resulting from the acquisition of TelaPoint; expectation that the new credit facility will provide additional flexibility for future acquisitions, the repurchase shares and a reduction in the cost of debt; expectation of continued successful execution of the Company's strategy to capture a larger share of total U.S. fleet spend while developing other opportunities to grow our revenue organically; and guidance for third-quarter and full-year 2007 results.

These forward-looking statements include a number of risks and uncertainties that could cause actual results to differ materially. These risks and uncertainties include: volatility in fuel prices; third-quarter and full-year 2007 fueling patterns; the effect of the Company's fuel-price- related derivative instruments; effects of competition; the potential loss of key strategic relationships; decreased demand for fuel and other vehicle products and services and the effects of general economic conditions on the commercial activity of fleets; the Company's ability to rapidly implement new technology and systems; potential corporate transactions including alliances, mergers, acquisitions and divestitures; the risks associated with the profitability and integration of TelaPoint, Inc.'s operations; changes in interest rates and the other risks and uncertainties included from time to time in the Company's filings with the Securities and Exchange Commission, including the annual report on Form 10-K filed on February 28, 2007, and the Company's other periodic and current reports. Wright Express Corporation undertakes no obligation to update these forward-looking statements at any future date or dates.

    News media contact:             Investor contact:
    Jessica Roy                     Steve Elder
    Wright Express                  Wright Express
    207.523.6763                    207.523.7769
    Jessica_Roy@wrightexpress.com   Steve_Elder@wrightexpress.com




                          WRIGHT EXPRESS CORPORATION
               CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND
                             COMPREHENSIVE INCOME
                    (in thousands, except per share data)
                                 (unaudited)

                                     Three months ended   Six months ended
                                          June 30,            June 30,
                                       2007      2006      2007      2006

    Revenues
      Payment processing revenue      $66,973   $57,693  $121,167  $104,649
      Transaction processing revenue    3,652     4,343     7,127     8,553
      Account servicing revenue         6,328     5,926    12,508    11,841
      Finance fees                      6,566     5,243    12,132    10,481
      Other                             2,454     2,959     4,861     5,278

        Total revenues                 85,973    76,164   157,795   140,802

    Expenses
      Salary and other personnel       15,699    15,196    31,828    29,550
      Service fees                      3,440     3,377     7,111     6,417
      Provision for credit losses       3,043     2,302     9,306     6,220
      Technology leasing and support    2,262     1,934     4,602     3,797
      Occupancy and equipment           1,502     1,703     3,096     3,295
      Depreciation and amortization     3,338     2,692     6,640     5,206
      Operating interest expense        8,946     6,042    15,867    10,649
      Other                             5,096     4,406     9,795     8,249

        Total operating expenses       43,326    37,652    88,245    73,383

    Operating income                   42,647    38,512    69,550    67,419

    Financing interest expense         (3,001)   (3,666)   (6,131)   (7,394)
    Loss on extinguishment of debt     (1,572)        -    (1,572)        -
    Net realized and unrealized losses
     on derivative instruments         (9,639)  (20,509)  (20,329)  (27,987)

    Income before income taxes         28,435    14,337    41,518    32,038
    Provision for income taxes         10,106     4,481    14,852    10,832

    Net income                         18,329     9,856    26,666    21,206

      Change in net unrealized loss on
       available-for-sale securities,
       net of tax effect of $(53) and
       $(48) in 2007 and $(21) and
       $(62) in 2006                      (95)      (55)      (87)     (118)
      Change in net unrealized gain on
       interest rate swaps, net of tax
       effect of $(42) and $(162) in
       2007 and $(49) and $37 in 2006     (61)      (20)     (234)       48

    Comprehensive income              $18,173    $9,781   $26,345   $21,136

    Earnings per share:
      Basic                             $0.46     $0.24     $0.66     $0.53
      Diluted                           $0.45     $0.24     $0.65     $0.52

    Weighted average common shares
     outstanding:
      Basic                            39,995    40,331    40,170    40,288
      Diluted                          41,084    41,086    40,853    41,035



                          WRIGHT EXPRESS CORPORATION
                    CONDENSED CONSOLIDATED BALANCE SHEETS
                    (in thousands, except per share data)

                                                     June 30,   December 31,
                                                       2007         2006
                                                   (unaudited)

    Assets
      Cash and cash equivalents                       $32,937      $35,060
      Accounts receivable (less reserve
       for credit losses of $9,453 in
       2007 and $9,749 in 2006)                     1,134,266      802,165
      Available-for-sale securities                     7,443        8,023
      Property, equipment and capitalized
       software, net                                   44,823       39,970
      Deferred income taxes, net                      365,956      377,276
      Intangible assets                                 2,421        2,421
      Goodwill                                        272,861      272,861
      Other assets                                     18,385       13,239

    Total assets                                   $1,879,092   $1,551,015

    Liabilities and Stockholders' Equity
      Accounts payable                               $433,184     $297,102
      Accrued expenses                                 21,831       26,065
      Income taxes payable                                  -          813
      Deposits                                        599,751      394,699
      Borrowed federal funds                           25,350       65,396
      Revolving line-of-credit facilities             164,600       20,000
      Term loan, net                                        -      129,760
      Derivative instruments, at fair
       value                                           19,106        4,524
      Other liabilities                                 4,350        1,170
      Amounts due to Avis under tax receivable
       agreement                                      407,315      418,359
      Preferred stock; 10,000 shares
       authorized:
        Series A non-voting convertible,
         redeemable preferred stock;
         0.1 shares issued and outstanding             10,000       10,000

      Total liabilities                             1,685,487    1,367,888

    Stockholders' Equity
      Common stock $0.01 par value;
       175,000 shares authorized,
       40,668 in 2007 and 40,430
       in 2006 issued                                     407          404
      Additional paid-in capital                       94,098       89,325
      Retained earnings                               119,928       93,262
      Other comprehensive income,
       net of tax:
        Net unrealized loss on
         available-for-sale securities                   (185)         (98)
        Net unrealized gain on interest
         rate swaps                                         -          234

      Accumulated other comprehensive
       income                                            (185)         136
      Less treasury stock at cost, 699
       shares in 2007 and no shares in 2006           (20,643)           -

      Total stockholders' equity                      193,605      183,127

    Total liabilities and stockholders'
     equity                                        $1,879,092   $1,551,015



                          WRIGHT EXPRESS CORPORATION
               CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
                                (in thousands)
                                 (unaudited)

                                                       Six months ended
                                                            June 30,
                                                       2007         2006

    Cash flows from operating activities
      Net income                                      $26,666      $21,206
      Adjustments to reconcile net income to
       net cash used for operating activities:
        Change in net unrealized loss on
         derivative instruments                        14,582        8,888
        Stock-based compensation                        2,146        1,553
        Depreciation and amortization                   7,223        5,766
        Loss on extinguishment of debt                  1,572            -
        Deferred taxes                                 11,530        6,365
        Provision for credit losses                     9,306        6,220
        Loss on disposal and impairment of
         property and equipment                             -            5
        Changes in operating assets and
         liabilities:
          Accounts receivable                        (341,407)    (244,945)
          Other assets                                 (1,995)       1,744
          Accounts payable                            136,082      141,746
          Accrued expenses                             (4,305)      (2,476)
          Income taxes                                 (4,277)           -
          Other liabilities                               308          832
          Amounts due to Avis                         (11,044)      (9,479)

      Net cash used for operating
       activities                                    (153,613)     (62,575)

    Cash flows from investing activities
      Purchases of property and equipment              (8,621)      (6,216)
      Purchases of available-for-sale
       securities                                         (70)         (66)
      Maturities of available-for-sale
       securities                                         515       14,777

      Net cash (used for) provided by
       investing activities                            (8,176)       8,495

    Cash flows from financing activities
      Excess tax benefits from equity instrument
       share-based payment arrangements                 1,613          251
      Payments in lieu of issuing shares of common
       stock                                           (1,152)        (682)
      Proceeds from stock option exercises              2,240        1,229
      Net increase in deposits                        205,052       76,065
      Net decrease in borrowed federal funds          (40,046)     (29,677)
      Net borrowings on 2007 revolving
       line-of-credit facility                        164,600            -
      Loan origination fees paid for 2007
       revolving line-of-credit facility                 (998)           -
      Net repayments on 2005 revolving
       line-of-credit facility                        (20,000)      (5,000)
      Repayments on term loan                        (131,000)     (16,500)
      Purchase of shares of treasury stock            (20,643)           -

      Net cash provided by financing
       activities                                     159,666       25,686

    Net change in cash and cash equivalents            (2,123)     (28,394)
    Cash and cash equivalents, beginning
     of period                                         35,060       44,994

    Cash and cash equivalents, end of
     period                                           $32,937      $16,600

    Supplemental cash flow information:
      Interest paid                                   $20,309      $17,362
      Income taxes (received) paid                     $5,871         $925

      Significant non-cash transactions:
        Capitalized software licensing
         agreement                                     $2,872           $-



                                  Exhibit 1

                          Wright Express Corporation
           Reconciliation of Adjusted Net Income to GAAP Net Income
                             Second Quarter 2007
                                (in thousands)
                                 (unaudited)

                                       Three months ended   Three months ended
                                         June 30, 2007        June 30, 2006

    Adjusted net income                     $20,454              $14,121
    Non-cash, mark-to-market adjustments
     on derivative instruments               (3,991)              (7,462)
    Tax impact of mark-to-market
     adjustments                              1,866                3,197
    GAAP net income                         $18,329               $9,856

Although adjusted net income is not calculated in accordance with generally accepted accounting principles (GAAP), this measure is integral to the Company's reporting and planning processes. The Company considers this measure integral because it eliminates the non-cash volatility associated with the derivative instruments. Specifically, in addition to evaluating the Company's performance on a GAAP basis, management evaluates the Company's performance on a basis that excludes the above items because:

    -- Exclusion of the non-cash, mark-to-market adjustments on derivative
       instruments helps management identify and assess trends in the
       Company's underlying business that might otherwise be obscured due to
       quarterly non-cash earnings fluctuations associated with fuel-price
       derivative contracts; and

    -- The non-cash, mark-to-market adjustments on derivative instruments are
       difficult to forecast accurately, making comparisons across historical
       and future quarters difficult to evaluate.

For the same reasons, Wright Express believes that adjusted net income may also be useful to investors as one means of evaluating the Company's performance. However, because adjusted net income is a non-GAAP measure, it should not be considered as a substitute for, or superior to, net income, operating income or cash flows from operating activities as determined in accordance with GAAP. In addition, adjusted net income as used by Wright Express may not be comparable to similarly titled measures employed by other companies.

Going forward, the Company will exclude the amortization of purchased intangibles from its adjusted net income.



                                  Exhibit 2
                          Wright Express Corporation
                        Selected Non Financial Metrics

                           Q2 2007*   Q1 2007*   Q4 2006    Q3 2006    Q2 2006

    Fleet Payment Processing
     Revenue:
    Payment processing
     transactions (000s)    53,181     50,559     45,075     46,800     45,998
    Gallons per payment
     processing transaction   20.3       20.3       20.6       20.2       20.1
    Payment processing
     gallons of
     fuel (000s)         1,082,132  1,024,847    926,605    944,458    924,343
    Average fuel price       $2.95       2.43       2.37       2.87       2.86
    Payment processing
     $ of fuel (000s)   $3,196,224  2,493,781  2,194,543  2,712,120  2,642,456
    Net payment
     processing rate         1.93%      1.99%      2.13%      2.02%      2.03%
    Fleet payment
     processing
     revenue (000s)        $61,777     49,607     46,647     54,841     53,590

    MasterCard Payment
     Processing
     Revenue:
    MasterCard purchase
     volume (000s)        $464,425    385,153    332,934    365,739    332,706
    Net interchange rate     1.12%      1.19%      1.23%      1.21%      1.23%
    MasterCard payment
     processing
     revenue (000s)         $5,197      4,587      4,089      4,416      4,105


    Definitions:

    Payment processing transactions represents the total number of purchases
    made by fleets that have a payment processing relationship with Wright
    Express.

    Payment processing gallons of fuel represents the total number of gallons
    of fuel purchased by fleets that have a payment processing relationship
    with Wright Express.

    Payment processing $ of fuel represents the total dollar value of the fuel
    purchased by fleets that have a payment processing relationship with
    Wright Express.

    Net payment processing rate represents the percentage of the dollar value
    of each payment processing transaction that Wright Express records as
    revenue from merchants less any discounts given to fleets or strategic
    relationships.

    MasterCard purchase volume represents the total dollar value of all
    transactions that use a Wright Express MasterCard branded product.

    Net interchange rate represents the percentage of the dollar value of each
    MasterCard transaction that Wright Express records as revenue less any
    discounts given to customers.

    * 2007 results are affected by the conversion of the ExxonMobil portfolio
      to a payment processing relationship.

SOURCE  Wright Express Corporation
    -0-                             08/07/2007
    /CONTACT:  News media: Jessica Roy, +1-207-523-6763,
Jessica_Roy@wrightexpress.com, or Investors: Steve Elder, +1-207-523-7769,
Steve_Elder@wrightexpress.com, both of Wright Express Corporation/
    /Web site:  http://www.wrightexpress.com/
    (WXS)

CO:  Wright Express Corporation
ST:  Maine
IN:  CPR ECM TRN
SU:  ERN CCA ERP

PM-WB
-- NETU047 --
2088 08/07/2007 07:05 EDT http://www.prnewswire.com