UPS net profit soars 80%

UPS net profit soars 80%    UPS said it had third quarter net profit of $991 million, 80.5 percent more than the $549 million earned in the same 2009 period.
   Revenue for the quarter ending Sept. 30 increased 9.3 percent to $12.2 billion, compared to $11.2 billion in the third quarter of 2009.
   U.S. domestic package revenue improved 6.2 percent in the quarter to $7.3 billion; International package revenue rose 10.5 percent to $2.7 billion; and supply chain and freight revenue climbed 19.4 percent to $2.2 billion.
   'Based on the projections of retailers and economists, we expect modest growth during the holiday peak season,' said Kurt Kuehn, UPS's chief financial officer. 'We are raising our full-year 2010 guidance with adjusted earnings per share expected to grow more than 50 percent over last year.'