Summary Box: Charge hurts UPS 4Q profit

AP News
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Posted: Jan 31, 2012 9:38 AM
Summary Box: Charge hurts UPS 4Q profit

STRONG SEASON: UPS Inc., the world's largest package delivery company, said Tuesday that its fourth-quarter net income slid because of an accounting charge, but its adjusted results rose 21 percent and topped Wall Street's expectations.

TURNING TIDE: The Atlanta-based company credited the increase to improving U.S. package business that's making up for slower sales growth overseas. United Parcel Service Inc. also forecast Tuesday that its full-year results will beat most analysts' forecasts.

LOOKING AHEAD: For all of 2012, the company expects to earn between $4.75 and $5 per share, an increase of 9 to 15 percent over adjusted 2011 results. Analysts currently expect $4.80 per share.