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Technology Stocks : United Parcel Service Inc-(UPS) -- Ignore unavailable to you. Want to Upgrade?

To: VIPER85730 who wrote (49)	10/17/1999 12:02:00 AM
From: Jon Koplik	Read Replies (1) \| Respond to of 368

UPS earnings news from WSJ. October 15, 1999 UPS Reports 29% Growth in Profit As International Operations Rebound Dow Jones Newswires ATLANTA -- United Parcel Service of America Inc. Friday posted sharply higher net income as international operations regained ground lost amid the global economic downturn. The closely held package-delivery company said third-quarter earnings jumped 29% to $577 million, or $1.03 a share, from $449 million, or 81 cents a share, a year earlier. Revenue increased 9% to $6.72 billion from $6.16 billion. UPS, which expects to launch an initial public offering in the fourth quarter, said international operating results helped deliver the bottom-line gain. The company's overseas operations posted a profit of $38 million, compared with a loss of $15 million a year ago. In the U.S., domestic package operating earnings rose 16% to $879 million for the period from $757 million a year ago. Domestic package revenue rose 8.3% to $5.57 billion in the third quarter, from $5.15 billion last year. The company said the increase reflected a 6.8% average daily volume gain, improved product mix and higher revenue from each piece. International package revenue rose 10% to $862 million from $782 million a year ago. International export volume packages rose 22%, the company said. UPS said third-quarter revenue from nonpackage operations rose 22% to 279 million from $229 million. Operating profit from the segment fell to $27 million for the period from $35 million. The nonpackage operations segment includes United Parcel's UPS Logistics Group. Copyright ¸ 1999 Dow Jones & Company, Inc. All Rights Reserved.