UPS reports 7% revenue boost in first quarter 2010

Logistics company CEO is "optimistic about this year and the future".
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UPS has reported US$11.7 billion in revenue for the first quarter of 2010, marking a 7% increase compared to the same period in 2009.

The global logistics company has announced growth in its international package and supply chain businesses, yield improvement and increased operating leverage resulted in margin expansion in all business segments.

On a reported basis, diluted earnings per share for the first quarter of 2010 were $0.53 compared to $0.40 the prior year, a 33% improvement.

"UPS's global strategy clearly proved beneficial in the first quarter," said Scott Davis, UPS's chairman and CEO. "Our broad product portfolio and solutions-based approach to customers' logistics needs enabled the company to capture new business. In addition, our worldwide integrated network generated significant margin expansion. With global economies showing signs of recovery and UPS's strong start to 2010, we are optimistic about this year and the future."

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