UPS SECOND QUARTER INCOME DOWN 9.4%
United Parcel Service Inc. said net income of $630 million in the second quarter was down 9.4 percent from the same quarter of the previous year. The company blamed the decline on the weakening global economy and recent acquisitions and integrations.
Revenue totaled $7.6 billion in the second quarter, a 3.9 percent increase over the same period of the previous year. Operating profits were $1.04 billion, a 10.3 percent drop.
For the quarter, the international package segment of UPS posted revenue of $1 billion, a 4.2 percent increase. The non-package segment, fueled by a number of recent acquisitions, reported a 39-percent revenue increase over the second quarter of 2000, to $535 million.
The year-to-date net income for UPS dropped 21.4 percent to $1.19 billion. Total revenue rose 3.9 percent to $15.08 billion. Operating profit was down 10.9 percent from the same period of the previous year.