WEX Q4 Profit Up

(RTTNews) - WEX Inc. (WEX) Wednesday reported fourth-quarter profit of $34.5 million or $0.88 per share, up from $29.1 million or $0.74 per share in the same period last year.

Adjusted net income for the fourth quarter was $44.1 million or $1.13 per share. On average, eight analysts polled by Thomson Reuters expected the company to earn $1.09 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues increased 8 percent to $182.3 million from $169.0 million last year. Analysts expected revenues of $177.55 million.

For the first quarter, WEX expects adjusted earnings in the range of $1.00 to $1.07 per share, with revenues ranging between $168 million and $175 million. Analysts currently expect the company to earn $1.02 per share on first-quarter revenues of $175.40 million.

For the fiscal 2014, the company currently projects adjusted earnings in the range of $4.70 to $4.90 per share, with revenues ranging between $751 million and $771 million. Analysts currently expect full-year earnings of $4.80 per share on revenues of $772.99 million.