United Parcel Service (UPS.N) reported a higher quarterly profit on Tuesday and affirmed its outlook for record 2011 results.

The world's largest package delivery company said third-quarter net income rose to $1.04 billion, or $1.06 per share, from $991 million, or 99 cents a share, a year earlier.

Adjusted for a one-time item, the profit was 93 cents a share.

Revenue rose 18 percent to $13.17 billion, matching the analysts' average forecast, according to Thomson Reuters I/B/E/S.