International, Supply Chain & Freight Drive 4th Quarter Results for UPS

Logistics Insight Asia - Industry News, 20/2/2008

Adjusted earnings per share up 8.7% on 6% revenue increase.

UPS reported adjusted diluted earnings per share of $1.13 for its fourth quarter, an 8.7% increase over last year. Revenue improved 6.1% driven by a double-digit increase in international export volume, growth and firm pricing in the U.S. package business and market-leading shipment gains at UPS Freight.

During the quarter, the company announced the ratification of a new five-year agreement with the International Brotherhood of Teamsters, eight months before expiration of the existing contract. As a result, $6.1 billion was paid to withdraw approximately 45,000 UPS employees from the Central States multi-employer pension plan and expensed to the U.S. Package segment in the quarter. Including the impact of that charge, diluted earnings per share fell to a loss of $2.46 for the three-month period.

"In 2007, UPS delivered on its forecast in an economic environment that became increasingly challenging over the year," said UPS Chairman and CEO Scott Davis. "We achieved this through sound execution in all parts of our business. In addition, we reached an historic labor contract with the Teamsters. I would like to thank UPSers around the world for their efforts."

For a complete report, log on to the company’s Web site at www.ups.com.

UPS, www.ups.com