Wright Express' CEO Discusses Q2 2012 Results - Earnings Call Transcript

Wright Express Corp. (WXS)

Q2 2012 Earnings Call

August 01, 2012 10:00 am ET


Steve Elder - SVP & CFO

Mike Dubyak - Chairman, President & CEO


Robert Napoli - William Blair

Sanjay Sakhrani - KBW

Tom McCrohan - Janney

Tim Willi - Wells Fargo

Michael Grondahl - Piper Jaffray

Tien-tsin Huang - JPMorgan

Phil Stiller - Citi

Greg Smith- Sterne Agee



Good morning, my name is Kela and I will be your conference operator today. At this time I would like to welcome everyone to the Wright Express second quarter 2012 financial results conference call. (Operator Instructions).

Thank you. Mr. Elder you may begin your conference.

Steve Elder

Good morning. With me today is our CEO, Mike Dubyak. The financial results press release we issued early this morning is posted in the Investor Relations section of our website at wrightexpress.com. A copy of the release has also been included in an exhibit, as an 8-K to the SEC this morning.

As a reminder, we will be discussing a non-GAAP metric, specifically adjusted net income, during our call. For this year’s second quarter, adjusted net income excludes non-cash mark-to-market adjustments on our fuel price related derivative instruments and the amortization of acquired intangible assets as well as the related tax impacts, which includes impact from recently enacted tax legislation in Australia which I will discuss later. Please see Exhibit 1 included in the press release for an explanation and reconciliation of adjusted net income to GAAP net income.

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