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We study non planar corrections to the spectrum of operators in the${\mathcal N}=2$ supersymmetric Yang Mills theory which are dual to stringstates in the maximally supersymmetric pp-wave background with a {\em compact}light-cone direction. The existence of a positive definite discrete light-conemomentum greatly simplifies the operator mixing problem. We give some exampleswhere the contribution of all orders in non-planar diagrams can be foundanalytically. On the string theory side this corresponds to finding thespectrum of a string state to all orders in string loop corrections.Comment: 35 pages, no figure

DLCQ String Spectrum from Script N = 2 SYM Theory