UPS fourth quarter profit jumps 48%

UPS fourth quarter profit jumps 48%
   UPS reported profit of $1.1 billion in the fourth quarter, 48 percent more than in the same 2009 period.
   Revenue was $13.4 billion in the quarter, 8 percent more than in the fourth quarter of 2009.
   Results by segment are:
   ' Domestic package revenue was up 7 percent from the fourth quarter of 2009 to $8 billion, and operating profit up 37 percent to $1 billion.
   ' International package revenue rose 9 percent to $3 billion and operating profit increased 15 percent to $537 million.
   ' Supply Chain and Freight revenue improved 13 percent to $2.3 billion and operating profit was $234 million, more than eight times the operating profit of $28 million in the same 2009 period.
   UPS noted supply chain profits were boosted by a $71 million gain on the sale of UPS Logistics Technologies, that was partially offset by a $13 million value adjustment related to the guarantee associated with the sale of a specialized German transport business.
   Scott Davis, UPS chairman and chief executive officer, said he was “encouraged by the opportunities we see in 2011 as UPS continues to expand into emerging markets while demonstrating the power of the logistics capabilities we've built worldwide.'
   Kurt Kuehn, chief financial officer, said UPS expected an increased in diluted earnings per share in 2011 of 16 percent to 22 percent over adjusted 2010 results.