15/12 FedEx reports strong earnings growth in second quarter

English.news.cn 2011-12-15 22:58:57

WASHINGTON, Dec. 15 (Xinhua) -- FedEx Corp., operator of the world's largest cargo airline, reported strong earnings for the second quarter that ended on Nov. 30 and ordered 27 jet freights to replace some of its oldest planes, the company said Thursday in a financial report.

Total revenue for the quarter was 10.59 billion U.S. dollars, an increase of 10 percent from the same period last year. Meanwhile, net income amounted 497 million U.S. dollars, rising dramatically by 76 percent from the previous year, said the report.

During the quarter, FedEx's diluted earnings per share were 1.57 U.S. dollars, compared to 0.89 U.S. dollars per diluted share a year ago, said the company.

"With the healthy growth in online shopping this holiday season, demand is increasing for these residential delivery services," said Frederick W. Smith, FedEx Corp. chairman, president and CEO.

For the full fiscal year 2012, FedEx projected earnings to be 6.25 to 6.75 U.S. dollars per diluted share, which assumed the current market outlook for fuel prices, normal winter weather and moderate growth in the global economy.

In order to modernize the company's aircraft fleet, FedEx Express ordered 27 new Boeing 767-300F aircraft, with three arriving in fiscal 2014 and six per year in fiscal 2015-2018. The new planes will be about 30 percent more fuel-efficient than the retiring MD10 jets, some of which are more than 40 years old, FedEx said.

Editor: yan

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