UPS Sees Profit ‘Slightly Better’ Than a Year Earlier

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UPS Sees Profit ‘Slightly Better’ Than a Year Earlier - Bloomberg
United Parcel Service Inc. said first-quarter profit would be “slightly better” than a year ago, signaling that the world’s largest package-delivery company expects a recovery to build through 2010.

UPS also said today that its annual earnings will be $2.70 to $3.05 a share. Analysts expected an adjusted profit of $2.81, based on the average of 21 estimates compiled by Bloomberg.

UPS also said on Jan. 8 it would eliminate 1,800 management and administrative jobs in the U.S. as it reduces the number of operating districts to 20 from 46 in an effort to streamline its small-package unit, its largest division.
 
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