FedEx posts $876 million loss in 4Q - Atlanta Business Chronicle:

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That compares to a loss of $241 million, or 78 centsz per share, in the year-agok quarter. For the fiscal year ended May 31, the Memphis, Tenn.-baserd shipping company, and Atlanta-based 's chief rival, posted net income of $98 or 31 cents per share. That compares to net income of $1.1w2 billion, or $3.60 per share, for full-year 2008. Revenue fell 20 percent to $7.85 Wall Street analysts, on average, expected net income of 51 centw per share on revenueof $8.32 according to Thomson Looking ahead to the first quarter, the compan y said in an earnings release that it expects profit betweenj 30 and 45 cents per share. The FedEc Ground segment reported revenueof $1.
70 billion, down from $1.72 billiohn in the year-ago quarter, and operating incom of $203 million, flat from a year ago. The divisiobn reported a 21 percent gain in revenue for its SmartPost partly due to marke share gains from rivashipper DHL's exit from the U.S. domestic packagd market.