UPS sees record second quarter
United Parcel Service reported record earnings for its second quarter, producing strong growth in all areas.
''''The big integrated carrier saw net income of $695 million, up 18.2 percent from the year-earlier period, excluding a non-recurring item taken last year. Revenue rose 11 percent to $7.3 billion.
''''U.S. domestic package revenue rose 8.4 percent to $5.9 billion. International package revenue improved 12.7 percent to $1 billion and non-package jumped 70.2 percent to $371 million. Non-package business reflected the growth of UPS Logistics Group, which has signed service parts logistics contracts valued at more than $1 billion.
''''Operating profits rose 16.2 percent to $1.16 billion.
''''International export volume rose 23 percent, UPS Next Day Air volume rose 10 percent in the United States.
''''UPS averaged 13.2 pieces of global package delivery volume per day, up 6.7 percent over the second quarter of 1999. UPS's ground volume rose 5.4 percent to 10.1 million packages a day.
''''For the first six months of 2000, UPS reported $14.5 billion in revenue, up 12.5 percent, and net income of $1.4 billion, up 25.9 percent from the year earlier period, excluding non-recurring charges for both periods.
''''Through June, global delivery volume averaged 13.2 million pieces a day, up 6.2 percent.
''''Robert Clanin, UPS chief financial officer, said the period reflected the company's efforts to further strengthen its international and logistics businesses and to expand UPS Capital Corp.
''''During the period, UPS Logistics Group acquired three service parts logistics operations which expanded its operations to an additional 50 countries. UPS Logistics Group acquired Computer Logistics Solutions, based in Sydney, Australia, and Comlasa, based in Miami and Finon Sofecom in France and plans to acquire the U.S. service parts network of logistics provider Burnham, based in Atlanta. UPS also launched global trade finance services in the United States and Canada, and began offering electronic billing and payment procedures.