Geeknet terminates a purchase agreement with Hot Topic and accepts a $20 per share bid by GameStop.
But the delivery services provider’s revenue and net income increase.
Parcel delivery company United Parcel Service of America Inc. today reported its overall package volume increased 1.3% in 2011 compared with 2010. U.S. volume was flat, though the fourth quarter was busy, UPS says. Between Thanksgiving and Christmas, UPS shipped almost 500 million packages globally, Scott Davis, UPS chairman and CEO, told analysts during a conference call.
For 2011, UPS reported:
• Average daily package volume increased 1.3% to 15.8 million, up from 15.6 million in 2010.
• Revenue of $53.1 billion, an increase of 7.3% from $49.5 billion in the prior year.
• Net income of $3.8 billion, up 15.2% from $3.3 million in 2010.
UPS’ U.S. package operation reported for 2011:
• Average daily volume of 13.4 million compared with 13.3 million a year ago, a 0.8% increase.
• U.S. next-day package volume was flat at approximately 1.20 million a day. The average next-day air package cost to shippers jumped 6.2% to $20.33 from $19.14.
• Revenue of $31.7 billion compared with $29.7 billion in 2010, a 6.7% increase.
UPS’ international package operation reported for 2011:
• Average daily volume of 2.4 million up 4.3% from 2.3 million.
• Revenue of $12.2 billion compared with $11.1 billion a year ago, up 9.9%.
For the 2011 fourth quarter, UPS reported:
• Average daily package volume of 18.3 million compared with 17.7 million in the 2010 fourth quarter, a 3.4% increase.
• U.S. next-day package volume was flat, while the average next-day air package cost to shippers increased 5.0% to $19.58 from $18.65.
•Revenue of $14.2 billion compared with $13.4 billion a year earlier, a 6.0% increase.
• Net income of $725 million compared with $1.025 billion a year earlier, a 29.3% decrease.
Davis added that daily shipments exceeded 27 million twice during the holiday period.