*NEWS*SLUGGISH QUARTER FOR FED-EX KINKO’S

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*NEWS*SLUGGISH QUARTER FOR FED-EX KINKO’S

 user 2005-03-22 at 9:26:00 am Views: 85
  • #10978

    Sluggish quarter for FedEx Kinko’s
    March 2005 – Memphis (TN): FedEx
    Kinko’s has reported a stagnant Q3, with business levels down due to what the
    company described as “the slower winter months”.

    Revenue was $499
    million, down from $524 million in the company’s triumphant Q2.

    Operating income was $11 million, down from $29 million in Q2. The
    operating margin of 2.2% was “adversely impacted by integration activities,”
    said the company, “including facility re-branding expenses, ramp-up costs
    associated with the offering of packaging and shipping services at its US
    locations, and the centralisation of the FedEx Kinko’s corporate relations.”

    Earnings at parent company FedEx rose 51 per cent for the quarter,
    registering double-digit growth in ground deliveries and international
    shipments.

    Net income was $317 million, up from $207 million last year.
    Revenue rose 21 per cent to $7.34 billion.