FEDEX FIRST-QUARTER NET INCOME UP 6 PERCENT

FEDEX FIRST-QUARTER NET INCOME UP 6 PERCENT    FedEx Corp., the big global logistics company, said net income increased 6 percent, to $169 million for the first quarter of its fiscal year, ending August, 31.
   Operating income rose 10 percent, to $311 million, while revenue increased 11 percent, to $4.8 billion.
   FedEx credited the improved results on increased volume growth in nearly all areas of its business, improved revenue per package at FedEx Express and a continued focus on reducing costs and increasing productivity.
   International Priority shipment growth exceeded 20 percent for the third consecutive quarter. FedEx said international growth has been aided by improved connections between Europe and Asia, connections to the Scandinavian countries of the FedEx EuroOne network, and two additional flights between the United States and Paris.
   FedEx Express saw a 23 percent increase in operating income, to $258 million, and a 9 percent increase in revenue, to $3.9 billion.
   FedEx Ground saw operating income fall 15 percent, to $43 million, while revenue rose 14 percent to $543 million. Operating income included $12 million of losses associated with the operation and expansion of the company's FedEx Home Delivery service and additional expenses associated with rebranding.