Fedex (FDX) Takes Flight

Investing

Published: June 20, 2007 6:50 am

Fedex (FDX) turned in some pretty solid numbers and blamed softness in the US economy for the fact that they were not better.

Revenue of $9.15 billion, up 8% from $8.49 billion the previous year

Operating income of $1.01 billion, up 9% from $927 million a year ago

Operating margin of 11.1%, up from 10.9% the previous year

Net income of $610 million, up 7% from last year’s $568 million

Guidance for the upcoming fiscal was soft and below the company’s long term goal of 10% to 15% earnings targets.

The company’s freight shipment business, although fairly small grew at a 28% rate.

Shares were up modestly at just above $108.

Douglas A. McIntyre

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