UPS Revenue Rises 4% in 2nd Quarter

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United Parcel Service yesterday reported a nearly 4 percent second-quarter increase in revenue and volume growth in its air and international businesses despite a weak global economy.

For the three months that ended June 30, UPS revenue totaled $7.6 billion, up 3.9 percent from $7.3 billion for the same period a year earlier. Operating profits were $1.04 billion, down 10.3 percent from $1.16 billion for the prior-year period. Net income was $630 million, down from $695 million in the second quarter of 2000.

Highlights for the quarter included continued growth in the company's logistics business, a double-digit gain in international export volume and an increase in domestic air volume, combined with effective controls on discretionary expenses.

UPS chairman/CEO Jim Kelly said, "Our expense controls are working, and we continue to grow in some of our key businesses, particularly international export and logistics."

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