UPS’s fourth quarter a mixed bag

Spurred by a strong finish to holiday 2001 in the U.S. and an 8% growth in overseas shipments, United Parcel Service posted a more than 2% fourth-quarter revenue gain, to $8.10 billion for the three months ended Dec. 31, up from $8.08 billion in 2000. But consolidated operating profits plunged nearly 10% during the quarter, to $1.0 billion, while net income dropped 12%, to $645 million from $724 million. And revenue from U.S. packages dropped nearly 2%, to $6.20 billion from $6.19 billion for the fourth quarter of 2000.