FedEx earnings rise

FedEx Corp. today said its fourth-quarter revenue of $5.83 billion was up 8% from $5.42 billion the previous year, and its operating income of $492 million was 18% higher than a year ago. The company's net income of $280 million was up 19% from last year's $236 million. For the year, its net income of $830 million was up 17% from last year's $710 million. "Our strategy execution enabled the company

June 24, 2003

FedEx Corp. today said its fourth-quarter revenue of $5.83 billion was up 8% from $5.42 billion the previous year, and its operating income of $492 million was 18% higher than a year ago.

The company's net income of $280 million was up 19% from last year's $236 million. For the year, its net income of $830 million was up 17% from last year's $710 million.

"Our strategy execution enabled the company to improve its revenue, earnings and returns during the year, posting a strong performance despite challenging economic conditions," said president & CEO Frederick W. Smith.

Total average daily package volume at FedEx Express and FedEx Ground grew a combined 5% for the quarter, due to continued strong growth at FedEx Ground and in international express shipments, the company said.