UPS ‘pleased’ with 1Q performance

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UPS today, April 25, reported a 7.9 percent increase in adjusted diluted earnings per share to $0.96 on a 3.3 percent revenue gain. Those results exclude an impairment charge relating to aging jet aircraft and expenses for a voluntary separation program completed during the quarter.

Including these charges, diluted earnings per share declined 12.4 percent to $0.78 compared to the same period in 2006. The Atlanta-based company reported net income of $1.36 billion, compared with $1.56 billion, or 89 cents a share, a year earlier. UPS reported revenue of $11.9 billion compared to $11.5 billion during the year-ago period.

“We are pleased with the company’s first-quarter performance,” said Mike Eskew, UPS chairman and chief executive officer. “Strong gains in our international package and supply chain and freight businesses helped offset the impact of a slowing U.S. economy. We will continue to invest aggressively to seize the growth opportunities created by the rise in global trade.”