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UPS Q4 Net Profit Slips - Quick Facts

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1/31/2012 7:57 AM ET

Package delivery giant United Parcel Service Inc. (UPS: Quote) posted lower fourth-quarter net income of $725 million or $0.74 per share compared with $1.02 billion or $1.02 per share last year, whereas on an adjusted basis, non-GAAP net income grew to $1.25 billion or $1.28 per share from last year's $1.07 billion or $1.06 per share, inclusive of change in pension accounting.

The company said the impact of the change in pension accounting to a mark-to-market methodology improved fourth-quarter 2011 adjusted results by $0.03 and reduced fourth quarter adjusted 2010 results by $0.02. On average, 25 analysts polled by Thomson Reuters expected earnings per share of $1.26 for the quarter. Analysts' estimates typically exclude one-time items.

Total revenues for the quarter increased 5.6% to $14.17 billion from $13.42 billion in the comparable period, while analysts estimated revenues of $14.45 billion for the same quarter.

Kurt Kuehn, UPS's chief financial officer noted, "Looking to 2012, our expectations are for mixed economic growth around the world, with modest improvement in the U.S. However, UPS projects another strong year of earnings." Kuehn continued, "We expect diluted earnings per share to be within a range of $4.75 to $5.00, an increase of 9% to 15% over adjusted 2011 results.

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by RTT Staff Writer

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After moving mostly higher in early trading on Wednesday, stocks have continued to perform well over the course of the session. While buying interest has waned since then open, the markets have maintained a positive bias on the day. Industrial production in the U.S. rose by more than expected in the month of March, the Federal Reserve revealed in a report on Wednesday, with the report also showing a notable upward revision to the pace of production growth in the previous month. The report said industrial production increased by 0.7 percent in March after surging up by an upwardly revised 1.2 percent in February. Housing starts in the U.S. showed a notable increase in the month of March, according to a report released by the Commerce Department on Wednesday, although starts still came in well below economist estimates. The report showed that housing starts climbed 2.8 percent to an annual rate of 946,000 in March from the revised February estimate of 920,000.
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