UPS second quarter net income up 20.5%

UPS second quarter net income up 20.5% UPS said its second quarter net income rose 20.5 percent to $986 million thanks to double-digit export volume gains in every international region and an increase of 387,000 packages per day in the United States.
   UPS’s operating profit in the second quarter rose 18.2 percent to $1.55 billion compared to $1.31 billion for the prior-year period. Revenue increased 14.9 percent to $10.19 billion from $8.87 billion, helped partly by the acquisition of Menlo Worldwide Forwarding late last year, UPS said.
   Total average daily package volume worldwide rose to 14.1 million, up 557,000 packages per day compared to the same 2004 period. Average daily U.S. domestic ground volume increased 3.3 percent and revenue rose 6.8 percent to $4.6 billion. Domestic operating profit gained 13.2 percent to $1.1 billion. Total U.S. air and ground volume was up 3.2 percent.
   International export volume increased 18.2 percent, led by China with a gain of 99 percent, UPS reported. Asian export volume increased 39.5 percent.
   For the first half of the year, UPS’ net income increased 18.5 percent to $1.8 billion. Operating profit jumped 16.1 percent to $2.93 billion. Operating revenue was $20 billion, up 12.9 percent.