Payment processor Wright Express released its fourth-quarter results, which show a 22% increase in total revenue.
The South Portland-based company brought in $139.8 million in the last quarter of 2011, a rise over $114.9 million the same quarter in 2010, according to a press release. Net income on a GAAP basis was $32.8 million, compared with $18.5 million the same quarter last year. The company also reported an adjusted net income, a non-GAAP number, of $38.4 million, a 33% rise over Q4 2010.
Full-year 2011 results showed a 42% rise in revenue, totaling $553 million, and a 32% increase in adjusted net income. President and CEO Michael Dubyak said the year's performance showed continued success in the company's efforts to "grow our North American fleet business, diversify our revenue streams and build out our international presence." Wright Express handles payment processing for commercial and government fleet vehicles.