FedEx Q4 Revenues Up 20% To $9.43bn
FedEx has reported total revenues of $9.43bn for the fourth quarter of 2010, an increase of 20% compared to $7.85bn for the same same period last year.
The company's operating income for the quarter was $696m compared to operating loss of $849m for the same period a year ago.
For the quarter ended May 31, 2010, the company posted net income of $419m, or $1.33 per share, compared to net loss of $876m, or $2.82 per share, for the same quarter in 2009.
The company posted total revenues of $34.7bn for the fiscal year 2010, compared to $35.5bn for the fiscal year 2009. Net income was $1.18bn compared to $98m for the fiscal year 2009.
Frederick Smith, chairman, president and CEO of FedEx, said: “FedEx delivered strong results in our fourth quarter, thanks to sequential growth in package volume and our ability to leverage our unique global networks to take advantage of a recovering economy.
“We ended our fiscal year a stronger company, and I am confident FedEx is very well positioned for future revenue and earnings growth.”
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