7/23/2008

UPS on Tuesday posted a second-quarter profit of $873 million, down 21% from year-ago levels. The company attributed its weaker profits to the slowing economy and higher fuel prices. CEO Scott Davis said in the past the company has used difficult economic times as opportunities to innovate. "Although downturns in the economy are painful, the strongest companies, like UPS, will come out in the best competitive position," he said.

Related Summaries