UPS UP 62%

Dino D'Amore
By Dino D'Amore February 2, 2011 15:33

UPS UP 62%

UPS has reported 2010 net income of $3.49 billion, up 62.1% over a $2.15 billion profit in 2009 and surpassing its 2008 net profit of $3 billion. Fourth-quarter net income was $1.12 billion, up 47.8% over a $757 million profit in the 2009 December quarter, on an 8.4% rise in revenue to $13.42 billion.

“For 2010, international volume increased 13.6% to a record 2.3 million packages per day,” UPS stated. “Throughout the year, UPS significantly increased its global network capacity to take advantage of opportunities in the marketplace. For example, airlift out of Asia increased by 40%.”

Full-year companywide revenue grew 9.4% to $49.55 billion while expenses were up 5.2% to $43.67 billion, producing operating income of $5.87 billion, up 54.5% on 2009. US domestic next-day air revenue lifted 6.9% year-on-year in 2010 to $5.84 billion.

Dino D'Amore
By Dino D'Amore February 2, 2011 15:33
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