Integrator, 3PL results take beating
FedEx sees 75% drop in 3rd quarter profit
FedEx Corp. reported Thursday profit of $97 million for its third quarter ending Feb. 28, down 75 percent from the same period last year.
Revenue for the period was $8.14 billion, down 14 percent from $9.44 billion the previous year.
'Our financial performance was sharply lower during the quarter due to the global recession,' said Frederick W. Smith, FedEx Corp. chairman, president and chief executive officer. '
CEVA hit by auto, air freight downturn