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FedEx maintains long-term profit, sales goals



By AP
12 November 2008 @ 06:35 pm EST

NEW YORK - FedEx Corp. on Wednesday reaffirmed its long-term plans to grow revenue by 10 percent and earnings per share by 10 to 15 percent per year.

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In fiscal 2008, the package delivery company reported a profit of $3.60 per share on revenue of $37.95 billion.

In a copy of its Corporate Citizenship Report obtained by The Associated Press, the package delivery company also said it aims to cut aircraft carbon dioxide emissions and increase truck fuel efficiency by 20 percent over the next 12 years.

Since 2005, FedEx has cut carbon emissions across its air fleet by about 4 percent per available ton mile and driven nearly 14 percent in vehicle fuel efficiency improvements.

Initiatives to reduce fuel consumption include fleet upgrades, flight planning adjustments and efficiency improvements.

Shares fell $3.40, or 5.1 percent, to $63.10 in Wednesday trading.

Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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