Net income at United Parcel Service jumped 28% in the third quarter to $739 million, up from $578 million a year ago. Revenue was up 7.2% to $8.3 billion, compared with $7.8 billion.
The Atlanta-based logistics provider attributed the gains to a strengthening U.S. package business and record performances by its international and non-package businesses, as well as the sale of its aviation technology business and a favorable tax ruling.
Read MoreUPS has reported a 28% jump in net income for the third quarter thanks to a strengthening U.S. package business, record performances by both the international and non-package segments and two other modest gains.
Earnings per diluted share increased 27% to US$0.65 from US$0.51 last year, including gains due to the sale of a business unit and a favorable tax ruling. Without these items, earnings per diluted share were US$0.62, up 22% compared to the prior year.
Read MoreDPWN sets sights on China and India
Read MoreThe U.S. Postal Service intends to use $10 billion in retirement fund overpayments to set up a health benefit account for its more than 800,000 employees, the Postal Service’s chief financial officer said September 30, 2003.
Richard Strasser said the money would lay the foundation for a health benefit retirement program estimated to cost more than $40 billion.
Read MoreIf you order merchandise on the Internet or by catalog, you probably know that returning items can be more difficult than getting them in the first place.
USPS is set to launch a two-year test of Parcel Return Services (PRS) that will make it easier for consumers to return items at very competitive prices for merchants. PRS will work like drop-shipping in reverse.
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