UPS Cuts 2007 Earnings 1.4%, Citing Accounting Error UPS Cuts 2007

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UPS Cuts 2007 Earnings 1.4%, Citing Accounting Error - Bloomberg

United Parcel Service Inc., the world's largest package-delivery company, reduced its 2007 adjusted earnings by 1.4 percent to $4.11 a share, from $4.17, citing an accounting error.

A $65 million tax benefit related to UPS's withdrawal from the Central States Fund, a multiemployer pension plan that covers 42,000 Teamsters union members at the company, was incorrectly recorded in the fourth quarter, Atlanta-based UPS said today in a statement.
 
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