WEX FY 2007 Earnings Report — WEX Inc. Revenue & Financial Results | Market Cap Arena

FY 2007 Earnings

Reported February 28, 2008

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2007	Prior Q	FY 2006	QoQ Change	YoY Change
Revenue	$336M	—	$291M	—	15.4%
Op. Income	$152M	—	$135M	—	12.6%
Gross Margin	73.5%	—	89.3%	—	-15.8pp
Net Margin	15.3%	—	25.6%	—	-10.3pp
EPS (Diluted)	$1.27	—	$1.81	—	-29.8%
Free Cash Flow	-$109M	—	$48M	—	-326.6%

Revenue Flow

Item	Amount
REVENUE	$336M
Cost of Revenue	$89M
GROSS PROFIT	$247M
R&D Expenses	$9M
Selling & Marketing	$5M
General & Administrative	$32M
SG&A Expenses	$37M
Other Expenses	$49M
Operating Expenses	$95M
Cost & Expenses	$184M
OPERATING INCOME	$152M
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	$11M
INCOME BEFORE TAX	$163M
Income Tax Expense	$112M
Net Income from Continuing Ops	$52M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$52M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$52M
D&A	$16M
EBIT	$152M
EBITDA	$168M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$336M
Cost of Revenue	$89M
GROSS PROFIT	$247M
R&D Expenses	$9M
Selling & Marketing	$5M
General & Administrative	$32M
SG&A Expenses	$37M
Other Expenses	$49M
Operating Expenses	$95M
Cost & Expenses	$184M
OPERATING INCOME	$152M
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	$11M
INCOME BEFORE TAX	$163M
Income Tax Expense	$112M
Net Income from Continuing Ops	$52M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$52M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$52M
D&A	$16M
EBIT	$152M
EBITDA	$168M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$52M
Depreciation & Amortization	$16M
Stock-Based Compensation	$5M
Deferred Income Tax	$95M
Other Non-Cash Items	$59M
Change in Working Capital	-$318M
OPERATING CASH FLOW	-$92M
Capital Expenditure	-$17M
Acquisitions (Net)	-$41M
Purchases of Investments	-$3M
Sales/Maturities of Investments	$1M
Other Investing Activities	-$2M
NET CASH FROM INVESTING	-$61M
Net Debt Issuance	-$10M
Common Stock Repurchased	-$38M
Common Dividends Paid	$0
Other Financing Activities	$207M
NET CASH FROM FINANCING	$161M
FREE CASH FLOW	-$109M
Net Change in Cash	$8M

Balance Sheet

Item	Amount
Cash & Equivalents	$43M
Short-Term Investments	$9M
Net Receivables	$1.1B
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$1.1B
PP&E (Net)	$46M
Goodwill	$294M
Intangible Assets	$21M
Long-Term Investments	$0
Tax Assets	$283M
Other Non-Current Assets	$15M
TOTAL NON-CURRENT ASSETS	$659M
TOTAL ASSETS	$1.8B
Account Payables	$363M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	-$35M
TOTAL CURRENT LIABILITIES	$398M
Long-Term Debt	$208M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$1.0B
TOTAL NON-CURRENT LIABILITIES	$1.2B
TOTAL LIABILITIES	$1.6B
Common Stock	$408.0K
Additional Paid-In Capital	$98M
Retained Earnings	$145M
Treasury Stock	-$38M
Accum. Other Comp. Income	-$1M
Other Equity	-$10M
TOTAL STOCKHOLDERS' EQUITY	$204M
Minority Interest	$0
TOTAL EQUITY	$204M
TOTAL LIABILITIES & EQUITY	$1.8B
Total Debt	$208M
Net Debt	$165M