EXPRESS CARRIERS SEE MIXED FIRST-QUARTER RESULTS

   While United Parcel Service reported a 42-percent jump in first-quarter
income, Airborne Express saw its net earnings drop 22 percent.
   UPS reported first-quarter income of $499 million, while revenue rose 8
percent to $6.33 billion. The company cited worldwide strength in its core
package business, the growth of e-commerce and a cost management program as reasons for the strong results.
   UPS’s international package business grew 10.2 percent to $839 million
in revenue. That increase was fueled by an 18.9-percent increase in express
volume in Asia and 19.4-percent growth in express and pan-European volume.
International operating profits quadrupled to $44 million.
   Domestic package revenues grew 7 percent to $5.23 billion, while
operating profits from domestic business rose 30 percent to $765 million.
   Airborne Freight Corp., known by its brand name Airborne Express,
reported net earnings of $25.2 million in the first quarter, compared to
$32.4 million a year earlier. Airborne said the decline was due to slow
domestic traffic growth and an increase in operating costs caused by severe
winter weather.
   Revenue at the small package carrier grew just 2.6 percent to $769.4
million. Domestic sales were up 2.8 percent, while international sales were
virtually flat at $88.2 million.