UPS Q4 revenue up 6%

United Parcel Service of America (UPS) has reported revenue of $14.2bn for the fourth quarter ended 31 December 2011, an increase of 6% compared to $13.42bn for the same period in 2010.

Operating profit for the fourth quarter of 2011 was $2bn, an increase of 17.3% compared to$1.73bn for the same period prior year.

Compared to the prior-year period, operating profit for the fourth quarter increased 11% to $199m on 2.1% revenue growth.

Consolidated revenue per piece at $10.31 was up 2.9%, with US domestic packages and international package averages at $8.91 (up 3.4%) and $18.75 (up 2%), respectively.

UPS chairman and CEO Scott Davis said the company delivered record fourth quarter results in volume, revenue and profitability.

"In short, the quarter was a testament to the power of UPS's global model and the company's ability to operate efficiently in evolving markets," Davis said.

UPS CFO Kurt Kuehn said the company has achieved record earnings per share in a volatile global operating environment where trends varied by region, which was made possible by its balanced world-wide presence, broad portfolio of solutions and the best people in the business.

"Looking to 2012, our expectations are for mixed economic growth around the world, with modest improvement in the US," Kuehn said.

"We expect diluted earnings per share to be within a range of $4.75 to $5.00, an increase of 9% to 15% over adjusted 2011 results.

"In line with this, UPS anticipates $2.7bn in share repurchases for the year."