FedEx profit soars

FedEx profit soars    FedEx Corp. said Thursday it had net profit of $239 million for its third quarter ended Feb. 28, 146 percent more than the $97 million earned in the same 2009 period.
   The company said revenue in the quarter was $8.7 billion, up 7 percent from $8.14 billion a year ago.
   FedEx said it expected revenue and earnings through increased demand in the current quarter.
   'With our improved performance and outlook, we are reinstating various employee compensation programs, which will dampen earnings growth in the fourth quarter and fiscal year 2011,' said Alan B. Graf Jr., FedEx Corp. executive vice president and chief financial officer. 'We are also continuing to invest in long-term projects that improve service and reduce operating costs, such as long-range, fuel-efficient 777 freighters.'