AIRBORNE WARNS OF LOW FOURTH QUARTER RESULTS

AIRBORNE WARNS OF LOW FOURTH QUARTER RESULTS    Airborne Freight Corp., the integrated air freight carrier that operates under the name Airborne Express, warned that its net earnings for the fourth quarter ended Dec. 31 will fall short of expectations.
   The company said that it estimates that its fourth-quarter results, due to be announced on Jan. 31, will be in the range of $.30 to $.35 per share, including a gain equal to $.06 from the sale of securities.
   This compares with analysts’ expectations of earnings per share of $.48 for the quarter.
   Airborne blamed the high cost of jet fuel and the lack of growth in domestic shipments for the shortfall.
   Airborne had reported a 25-percent drop in net income for the first three quarters of last year.