EMERY WORLDWIDE REPORTS THIRD-QUARTER RESULTS

   Emery Worldwide, the global air freight division of CNF Transportation, reported third-quarter operating income of $4.6 million, up 4 percent on revenues of $617.3 million, up 11 percent from the year-earlier quarter.
   American air freight tonnage declined 4 percent in the third quarter,
while international tonnage rose 13 percent.
   Emery credited sales of premium service products while focusing on yield improvements and cost controls in recording its best quarterly earnings since 1997, said   Gregory L. Quesnel, president and chief executive officer of CNF Transportation.
   Emery saw solid growth in Asia and Japan, while Europe and Latin America markets remained strong, Quesnel said.
   For the first nine months of 1999, Emery reported operating income of $43.53 million, down from $51.33 million for the year-earlier period.
Revenues for the nine-month period were $520.8 million, compared with $431.1 million the year earlier.