UPS books loss after big pension charge, sees 2013 profit up

Reuters
January 31, 2013

United Parcel Service Inc reported a net loss in the fourth quarter after a $3 billion one-time charge from pension accounting, and forecast that 2013 earnings would rise 6 percent to 12 percent.

UPS, the world's largest parcel delivery company, on Thursday posted a fourth-quarter net loss of $1.75 billion, or $1.83 per share, after the non-cash charge. A year earlier, it earned $725 million, or 74 cents per share.

Earlier this month UPS dropped its $7 billion bid for Dutch delivery firm TNT Express after European regulators said they would veto the deal, citing antitrust concerns.

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