Tag: FedEx

FedEx Corp. Reports fourth quarter and full year earnings

Posted by | Jul 16, 2008 | |

FedEx Corp. reported a loss of USD 0.78 per share for the fourth quarter ended May 31, compared to earnings of USD 1.96 per diluted share a year ago. The quarter’s results include the previously announced charge of USD 891 million (USD 696 million, net of tax, or USD 2.22 per diluted share) related predominately to one-time, non-cash asset impairment charges. These charges were associated with the decision to minimize the use of the Kinko’s trade name and a reduction in the value of the goodwill resulting from the Kinko’s acquisition. Last year’s fourth quarter included a USD 0.06 per diluted share net benefit from a settlement with Airbus related to the A380 aircraft order cancellation. Excluding these items, earnings were USD 1.45 per diluted share in the fourth quarter compared to USD 1.90 per diluted share a year ago.
Full Year Results
FedEx Corp. reported the following consolidated results for the full year:
• Revenue of USD 38.0 billion, up 8 pct from USD 35.2 billion the previous year
• Operating income of USD 2.08 billion, down 37 pct from USD 3.28 billion last year
• Net income of USD 1.13 billion, down 44 pct from last year’s USD 2.02 billion
• Earnings per share of USD 3.60, down 44 pct from USD 6.48 per share a year ago
Capital spending for fiscal 2008 was USD 2.9 billion. Fiscal 2007 results also included costs associated with upfront compensation and benefits under the new pilot labor contract at FedEx Express, which reduced second quarter earnings by approximately USD 0.25 per diluted share. Excluding the above items, earnings were USD 5.83 per diluted share for the year compared to USD 6.67 per diluted share a year ago.

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FedEx trials diesel-electric hybrids in Italy

Posted by | Jul 16, 2008 | |

FedEx is trialling 10 Iveco diesel-electric hybrid Daily vans in its Italian operation. Iveco claims the vans offer a 30 pct cut in fuel use and CO2 emissions over a standard diesel model, through a number of systems such as Stop & Start and regenerative braking.

Paolo Monferino, Iveco’s CEO, says: “We are committed to the development of this technology and the next step is to make it affordable for our customers. In order to meet customer demand, Iveco will
will introduce hybrid power train technology in our vehicle production facilities by the end of 2009.” The vehicles will be used on routes between Milan and Turin, but FedEx will test more of the vehicles in its Paris operation.

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Cryoport teams up with FedEx

Posted by | Jul 15, 2008 | |

CryoPort, Inc, a supplier of temperature sensitive shipping solutions for the frozen biopharmaceutical industry, announced the release of CryoPort Express Portal 1.0 to select pharmaceutical and biomedical providers for final validation. The development and release of the portal follows an extensive review of existing solutions in the market and development of the portal using the latest Web. 2.0 standards and on demand cloud computing technologies. The result provides a rich, dynamic and highly interactive user experience as well as a highly secure and scalable architecture capable of supporting the planned growth of the Company.

CryoPort has introduced the industry’s first pay-per-use shipping solution with no up-front costs to the customer. This is backed up by an innovative user interface that greatly simplifies order-entry, automatically schedules multi-leg shipments, creates shipping labels and export documentation, provides real-time end-to-end tracking of the entire cold chain, and generates alarm notification of shipping delays.

CryoPort’s Express Portal is tightly integrated with the Federal Express data centre via a real-time B2B Web Service that enables CryoPort to monitor every step of the shipping process. Order processing, validation and scheduling are completed in real-time as the customer enters the order. Once the shipper enters the FedEx system, the CryoPort system will continuously monitor every step of the shipment through the FedEx operational framework. This unprecedented visibility into real-time shipping status information enhances CryoPort’s ability to detect and remedy shipping delays before they become costly operational exceptions.

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FedEx seeking incentives for proposed shipping centers (U.S)

Posted by | Jul 15, 2008 | |

Guilford County commissioners plan a public hearing this week on whether to provide nearly USD 1 million in incentives for FedEx Ground’s proposed shipping center.

Commissioners are to hear from the public Thursday about a proposal to provide USD 952,000 in incentives for FedEx’s proposed USD 110 million shipping center.

The News & Record of Greensboro reported Tuesday the center’s first year of operation would bring 80 full-time jobs paying an average of more than USD 40,000 annually.

FedEx is considering building the center in Kernersville, a few miles from Piedmont Triad International Airport where the company is building an East Coast air shipping operation.

Dan Lynch with the Greensboro Economic Development Partnership says the region is competing with Tennessee and South Carolina for the ground shipping

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TNT Romania ups profits by 45 pct

Posted by | Jul 14, 2008 | |

TNT Express again grew strongly in Romania in the first half of 2008, according to a newspaper report.

TNT Romania increased its revenues by 25 pct in the first six months of 2008 and improved its net profit by 45 pct year-on-year in the first half of 2008. No exact figures were available.

In 2007, TNT Romania reported a net profit of EUR 5.6 million and revenues of EUR 33 million targeting an increase by 20 pct on the year in 2008, with international courier services generating 75 pct of the total revenues, TNT Country Manager Bogdan Enache said.

The company reportedly plans to build a new road hub at the international airport in TImisoara, western Romania, this year. It has now 20 offices located in main cities of the country, a fleet of more than 180 vehicles and employs 360 people.

TNT Romania competes with the other leading global players DHL, UPS and FedEx as well as domestic companies such as Cargus, Fan Courier, Cargus, Alo Curier, Concorde and Pegasus.

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