Transportation Industry
FedEx Profit Dips 6% in Sept.-Nov. Quarter, But International Business Softens Decline
Transport Topics, December, 2007 by Reiskin, Jonathan S
Battered by a stumbling U.S. economy and soaring fuel prices, FedEx Corp. reported a 6% decline in net income for the three months ended Nov. 30. However, the second-largest corporation in U.S. trucking said in a conference call with analysts Dec. 20 that the strong market for international trade helped cushion domestic woes.
FedEx Express, which operates the corporation's aircraft fleet, has increased profitability by 5% yearover-year. However, the Memphis, Tenn., company's two truck units, FedEx Ground and Freight, both made less money this quarter than a year ago.
Overall, FedEx earned $479 million, or $1.54 a share, on revenue of $9.45 billion for its fiscal 2008 second quarter. During last year's second quarter the company earned $511 million, or $1.64 a share, on...
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