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UPS Posts Record Quarter, Gains in All Segments

July 20, 2000

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Increased volume and market share growth gave UPS record financial performance for the second quarter of 2000.
The company posted revenues of $7.3 billion, up 11% from $6.6 billion reported for second quarter 1999. Net income was $695 million, up 18.2% from a year ago.
The company’s global package delivery volume averaged 14.2 million pieces a day, a 6.7% gain over second quarter 1999’s average 12.4 million pieces. UPS’s ground volume rose 5.4%, to an average 10.1 million packages a day. International export volume climbed 23% and UPS Next Day Air volume in the U.S. rose 10%.
For the first six months of the year, consolidated revenue was $14.5 billion, up 12.5% from the same period in 1999. Excluding certain non-recurring items from both periods, net income totaled $1.4 billion for the first half of 2000 versus $1.1 billion in 1999.
UPS said that, effective Aug. 7, it will implement a temporary 1.25% fuel surcharge since fuel prices have not moderated as projected earlier in the year.

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