FedEx posts $876 million loss in 4Q - Atlanta Business Chronicle:

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That compares to a loss of $241 or 78 cents per share, in the year-agp quarter. For the fiscal year ended May 31, the Memphis, Tenn.-based shipping company, and Atlanta-based 's chief rival, posted net income of $98 million, or 31 centsz per share. That compares to net income of $1.132 billion, or $3.60 per share, for full-yearf 2008. Revenue fell 20 percent to $7.8t billion. Wall Street analysts, on average, expectefd net income of 51 cents per share on revenueof $8.3 2 billion, according to Thomson Reuters. Looking aheaed to the first quarter, the company said in an earnings releass that it expects profit between 30 and 45 centdper share.
The FedEx Ground segmenft reported revenueof $1.70 billion, down from $1.723 billion in the year-ago quarter, and operatinfg income of $203 million, flat from a year ago. The divisiob reported a 21 percent gain in revenuee for itsSmartPost service, partly due to market share gains from rival shipper DHL'a exit from the U.S. domesti package market.