Ground delivery key to Airborne's slim 2Q profits

Restructuring charges wiped out much of Airborne's profits in the second quarter, but growing ground delivery volumes helped the express delivery provider end the quarter in the black. Seattle, WA-based Airborne took a restructuring charge of $2.3 million in the second quarter, cutting its net earnings to $457,000 on revenues of $810 million. For the first half of 2002, Airborne's net income rose

Sean Kilcarr

July 30, 2002

Restructuring charges wiped out much of Airborne's profits in the second quarter, but growing ground delivery volumes helped the express delivery provider end the quarter in the black.

Seattle, WA-based Airborne took a restructuring charge of $2.3 million in the second quarter, cutting its net earnings to $457,000 on revenues of $810 million. For the first half of 2002, Airborne's net income rose to $5.7 million compared to a net loss of $23.4 million in the first half of 2001.

Chairman & CEO Carl Donaway said a variety of cost cutting initiatives and the expansion of its year-old ground delivery service allowed Airborne posts profits this year compared to losses in 2001.

"The ground delivery service is driving shipment volume growth, thereby changing our total shipment mix," he added.

About the Author

Sean Kilcarr

Editor in Chief

Sean Kilcarr is a former longtime FleetOwner senior editor who wrote for the publication from 2000 to 2018. He served as editor-in-chief from 2017 to 2018.