Wright Express Corporation, a leading provider of value-based business payment processing and information management solutions, today reported financial results for the three months ended March 31, 2012. First Quarter Financial Results Total revenue for the first quarter of 2012 increased 17% to $140.1 million from $120.1 million for the first quarter of 2011. Net income…
Wright Express value-based business payment processing and information management solutions posted its 3Q/11 revenue up 52% to $151.9 million from the year ago period of $100.2 million. Wright Express uses fuel-price derivative instruments to mitigate financial risks associated with the variability in fuel prices in North America. For the third quarter of 2011, the Company’s…
DFC Global unbanked and under-banked consumer services posted its 3Q/11 total revenue up 24.5% to $788.4 million by $155.1 million from the year ago period. With this, total consumer lending revenue increased to $429.2 million for a $109.7 million increase by 34.3%. Revenue from internet-based loans grew to $86.8 million for fiscal year 2011 compared…
Payment Data Systems integrated electronic payments solutions released its results for 2Q/11, reflecting a revenue increase to $768,359 from the year ago quarter of $604,184, thanks to higher transaction growth. The operating loss for the quarter ended June 30, 2011 was $169,084 compared to operating loss of $152,338 for the second quarter of 2010. Operating…
Wright Express business payment processing and information management posted 2Q/11 total revenue up 55% to $141.3 million from the year ago period of $91.4 million. For the second quarter of 2011, the Company’s GAAP financial results include an unrealized $13.9 million dollar pre-tax, non-cash, mark-to-market gain on these instruments. See Exhibit 1 for a full reconciliation of adjusted net income. Highlights indicate the average number of vehicles serviced worldwide was approximately 6.3 million, an increase of 29% from the second quarter of 2010; total fuel transactions processed increased 19% from the second quarter of 2010 to 81.2 million; payment processing transactions increased 15% to 63.2 million; transaction processing transactions increased 34% to 18 million; average expenditure per domestic payment processing transaction increased 33% from the second quarter of 2010 to $74.91; and total corporate card purchase volume grew 83% to $1.9 billion, from $1.0 billion for the second quarter of 2010. With this, Wright Express expects a 3Q/11 revenue in the range of $145 million to $150 million and adjusted net income in the range of $35 million to $37 million, or $0.89 to $0.95 per diluted share while it expects a FY/11 revenue in the range of $550 million to $560 million and adjusted net income to be in the range of $136 million to $141 million, or $3.50 to $3.62 per diluted share.
Wright Express is continuing its booming revenue, ever-climbing for the past two years. The value-based payment processing company posted 1Q/11 total revenues up 43% to $120.1 million from the year ago period of $83.8 million with a net income of $12.1 million, down from the year ago figure of $18.6 million. Adjusted net income for 1Q/11 increased 23% to $29.2 million from $23.7 million from 1Q/10 thanks in great part to average number of vehicles serviced worldwide totaling around 5.4 million, up 21% on the same time-line.
Additional year-over-year increases show the total fuel transactions processed increased 14% to 70.3 million; payment processing transactions increased 14% to 56.0 million; transaction processing transactions increased 13% to 14.3 million; average expenditure per domestic payment processing transaction increased 25% to $69.83, thanks no doubt to skyrocketing fuel costs by 22% to $3.38 per gallon from $2.76; while total corporate card purchase volume grew 68% to $1.4 billion from $853 million. With this, Wright Express is projecting revenue of around $132-$137 million and adjusted net income in the range of $33 million to $35 million in 2Q/11 and a FY/11 revenue of between $533 million and $553 million with an adjusted net income of nearly $132-$140 million, based on an assumed average U.S. retail fuel price of $3.67 per gallon.
Wright Express payment processing posted its 4Q/10 revenue up 38% to $114.9 million from the $83.0 million posted in 4Q/09. Fourth quarter 2010 revenue included $17.4 million from Wright Express Australia, which was acquired on September 15, 2010. Meanwhile, adjusted net income for 4Q/10 increased 32% to $28.8 million from $22.1 million for the year-earlier period. Its total fuel transactions processed increased 14% from 4Q/09 to 72.1 million; payment processing transactions increased 14% to 57.3 million; transaction processing transactions increased 11% to 14.8 million. For the full year 2010, revenue grew 24% to $390 million from $315 million in 2009 and earnings grew 26%. With this, Wright Express expects revenue in the range of $113 million to $118 million and adjusted net income in the range of $24 million to $27 million for 1Q/11 revenue in the range of $497 million to $517 million and adjusted net income to be in the range of $123 million to $131 million for the full year 2011.
Wright Express payment processing posted 3Q/10 total revenue up 17% to $100.2 million from the $85.8 million in the year ago period. These results were composed of numbers showing the average number of vehicles serviced was approximately 4.8 million; total fuel transactions processed having increased 3% year-over-year to 69.0 million; payment processing transactions up 3% to 54.8 million; processing transactions up 1% to 14.2 million; total revenue for the fleet segment having grown 12% year-over-year to $83.5 million; average expenditure per payment processing transaction up 9% from the year ago figure to $57.45; average retail fuel price increased 8% to $2.78 per gallon from $2.58 per gallon last year and total MasterCard purchase volume having grown 50% to $1.3 billion from $876 million in 3Q/09.
WRIGHT FISCALS
3Q/10: $85.8 million
4Q/10: $86.0 million
1Q/10: $83.8 million
2Q/10: $91.4 million
3Q/10: $100 million
SOURCE: CardData
Dollar Financial, serving primarily unbanked and under-banked consumers, posted consolidated total
revenue of $610.9 million for its 2010 fiscal year, up $83.1 million or 15.7% year-over-year. Adjusted
EBITDA was $182.2 million for fiscal 2010, for an increase of $43.7 million or 31.6% compared to the prior
fiscal year. For 2Q/10, meanwhile, total consolidated revenue was $159.0 million for an increase of 27.8%
or $34.6 million over the three months ended June 30, 2009. The Company incurred $10.2 million of net
one-time charges, principally related to an $8.5 million net unrealized, non-cash mark-to-market
valuation loss on the Company`s debt and cross-currency interest rate swap agreements throughout the
quarter. The Company continued to implement its store rationalization program, having closed 23 U.S.
financial services stores, 16 of which were located in Arizona with 7 store closures in the State of
Washington. Results were also due in part to the recently acquired Dealers` Financial Services (DFS)
business in the United States, which provides fee based auto lending and insurance services to military
personnel in the United States and contributed $4.9 million of incremental EBITDA for the quarter. With
these results, Dollare Financial is expecting to post adjusted EBITDA of between $205.0 million and $215.0
million in the next fiscal year.
Wright Express payment processing and information management services reported financial results for 2Q/10 with revenue having increased 17% to $91.4 million from $77.9 million the year ago period. Wright total fuel transactions processed were level with the 2Q/09 at 66.3 million; payment processing transactions increased 2.5% to 52.9 million, and transaction processing transactions declined 8% to 13.4 million; total revenue for the fleet segment grew 15% from the second quarter of 2009 to $78.4 million; fleet payment processing revenue increased 23% from the second quarter of 2009 to $54.5 million; average expenditure per payment processing transaction increased 24% from the second quarter of 2009 to $58.74; average retail fuel price increased 23% to $2.87 per gallon from $2.33 per gallon in 2Q/09; total MasterCard purchase volume grew 34% to $1,036 million, from $771 million for 2Q/09. For the full year 2010, the Company expects revenue in the range of $354 million to $364 million.
Secure ID solution provider LaserCard reports that revenues for the
fourth quarter of fiscal 2010 were $14.2 million,
compared with $12.4 million in the prior quarter and $14.7 million in
the same quarter a year ago. For the fiscal year ended March 31, 2010,
LaserCard reported revenues of
$58.6 million, compared with prior fiscal year revenues of $49.8
million. Revenue from optical security media cards totaled $43.3
million in
fiscal 2010, up 40% from $30.9 million in fiscal 2009. Revenue from
specialty cards and printers totaled $14.1 million in fiscal 2010 versus
$15.8 million in fiscal 2009, with the remaining revenues coming from
professional services and other products and services within the drive
systems and services segment. Optical security media card backlog at
March 31, 2010 totaled $10.4 million. LaserCard Corporation develops,
manufactures, and integrates LaserCard® optical
security media cards, multi-technology cards, encoders, peripherals,
smart and specialty cards, biometrics, and modular software.
American Express Business Travel, a global leader in business travel management, announced it is offering its automated central command post complimentary for those customers who implement its business continuity suite. Information learned from the volcanic ash cloud situation demonstrated the importance of continuous information exchange between corporate security, travel, finance and other departments and combining that with the creativity and persistence of experienced travel counselors became the formula to successfully manage through this unexpected situation. American Express Business Travel reported its client base had more than 150,000 travellers impacted by the travel cancellations. American Express recommends for companies to consider to ensure preparation and business continuity for any unforeseen travel disruption that include the following tips: Be a safety net. Distressed travellers seek solace in their travel
managers and expect a personal touch from their service; Take a fresh look. Nothing is more important than knowing the
whereabouts of your travellers and verifying their safety; evaluate your servicing configuration. Does it include allowances for emergency and after-hours service; revisit your traveler communications strategy. It must allow for
two-way, real-time communication with employees and travellers both
individually and company-wide and consider a traveler portal solution that can target individual travellers based upon their preferences and travel history then post and push timely
and relevant information; embrace telepresence and teleconferencing. due to travel interruptions; utilize an automated ticket tracking
application to identify all unused tickets; create the dialog with your peers through online forums
and discussion boards. Share your experiences and pick up a new tip
or learning along the way and debrief while the situation is still fresh.