FedEx Reports Higher Fourth-Quarter Earnings, Revenue

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edEx Corp. said Wednesday its fiscal fourth-quarter net income was $568 million or $1.82 a share, up from $448 million or $1.46 a year earlier.

img src="/sites/default/files/images/articles/fedexcorporatelogo.gif" width=90 align=right>The company’s revenue rose 10% for the quarter ended May 31 over the same period a year ago to $8.49 billion, FedEx said in a statement.

FedEx said at the end of its third quarter that it expected to earn $1.65 to $1.80 per share in the fourth quarter.

FedEx said its 2007 first-quarter earnings would be $1.45 to $1.60 per share and that it expects to earn $6.45 to $6.80 per share for the full year.

For the full 2006 fiscal year, the company earned $1.81 billion or $5.83 a share, up from $1.45 billion or $4.72 the previous year. Revenue rose 10% to $32.3 billion.

Less-than-truckload unit FedEx Freight’s operating income for the quarter jumped 49% over the previous fourth quarter to $142 million, while revenue rose 15% to $973 million. LTL yield improved 9% year-over-year, reflecting higher fuel surcharges and rates.

The FedEx Express segment’s operating income rose 30% to $560 million, while revenue at the package-delivery unit rose 10% to $5.12 billion for the quarter.

FedEx Ground’s operating income rose 20% to $207 million, while revenue rose 15% to $1.42 billion for the quarter.

The company’s FedEx Kinko’s segment saw its operating income decrease 56% to $18 million, while revenue dipped 2% to $542 million. FedEx acquired Kinko’s in early 2004.

FedEx is ranked No. 2 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.