Wright Express Corporation (WXS)
40th Annual J.P. Morgan Global Technology, Media and Telecom Conference
May 16, 2012 4:10 p.m. ET
Mike Dubyak - Chairman, President and CEO
Steve Elder - SVP and CFO
Micky Thomas - IR
All right thanks. It’s our last presentation of the day. A fun one. Wright Express, leading fleet fuel card company that’s got a lot of non-fuel business has been growing very, very rapidly. So hoping to pick the company’s brain on that. So from the company we’ve got Mike Dubyak who is the CEO, Chairman and President of the company. We’ve got Steve Elder as well, CFO. We’ve got Micky Thomas in the room as well, investor relations. So just want to make sure we acknowledge everyone. And we’re just going to be fireside chat again if that’s okay.
And maybe just start out with the same question I ask you every year, which what’s going on with the Mcgraw (ph), what’s happening on the ground, maybe if you can just update everyone on what you are seeing.
As you know we have our fleet business which gives us a lot of insight to over 285,000 accounts in the U.S. On that side of the business, we’re seeing just kind of stable growth from the existing customers which we call same-store sales as well. I think we’ve been saying it’s flat to slightly down, so a little bit below the GDP, seeing some strength in, if there are some SICs that are expanding a little bit, it’s in the construction area, manufacturing and transportation. But the rest of the SICs are down.