Wright Express Reports Higher 4Q Profit

Wright Express Corp.’s fourth-quarter profit grew to $18.6 million, or 47 cents per share, compared with $12.1 million, or 31 cents, a year ealier.

Operating income rose to $43 million, from $30.1 million, the company said in a statement.

Revenue rose 38.4% to $114.9 million, from $83 million a year ago. Revenue from payment processing increased to $72.7 million, from $56.2 million.

For the full 2010 year, income fell to $115.5 million, from $141.2 million in 2009. Revenue grew to $390.6 million, from $315.2 million.

Wright Express provides payment processing and information management services to fleets and its charge cards are used by to buy fuel and maintenance services for about 5.4 million vehicles.