Federal Express 1998 Annual Report Download - page 56

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P54 FDX CORPORATION
Years ended May 31
In thousands, except per share
amounts and Other Operating Data 1998 1997 1996 1995 1994
OPERATING RESULTS
Revenues $15,872,810 $14,237,892 $12,721,791 $11,719,596 $10,301,946
Operating income 1,010,660 507,002 779,552 756,247 681,815
Income from continuing operations
before income taxes 899,518 425,865 702,094 693,564 540,131
Income from continuing operations 498,155 196,104 400,186 396,125 295,975
Income (loss) from
discontinued operations 4,875 — (119,614) (78,977) 27,730
Cumulative effect of
accounting changes ————(18,131)
Net income $ 503,030 $ 196,104 $ 280,572 $ 317,148 $ 305,574
PER SHARE DATA
Earnings (loss) per share:
Basic EPS
Continuing operations $ 3.40 $ 1.35 $ 2.76 $ 2.76 $ 2.08
Discontinued operations .03 — (.82) (.55) .20
Cumulative effect of
accounting changes ————(.13)
$ 3.43 $ 1.35 $ 1.94 $ 2.21 $ 2.15
Diluted EPS
Continuing operations $ 3.34 $ 1.33 $ 2.74 $ 2.74 $ 2.06
Discontinued operations .03 — (.82) (.55) .20
Cumulative effect of
accounting changes ————(.13)
$ 3.37 $ 1.33 $ 1.92 $ 2.19 $ 2.13
Average shares of common stock 146,701 145,713 144,695 143,489 142,284
Average common and common
equivalent shares 149,204 147,228 145,843 144,501 143,641
Cash dividends —(1) —(1) —(1) —(1) —(1)
FINANCIAL POSITION
Property and equipment, net $ 5,935,050 $ 5,470,399 $ 4,973,948 $ 4,421,312 $ 4,042,035
Total assets 9,686,060 9,044,316 8,088,241 7,943,218 7,459,007
Long-term debt, less current portion 1,385,180 1,597,954 1,325,277 1,324,711 1,632,202
Common stockholders’ investment 3,961,230 3,501,161 3,312,440 3,260,963 2,971,856
OTHER OPERATING DATA
FedEx
Express package:
Average daily package volume 3,025,999 2,715,894 2,437,662 2,247,594 1,925,105
Average pounds per package 8.5 7.2 6.4 6.3 6.0
Average revenue per pound $ 1.84 $ 2.11 $ 2.31 $ 2.31 $ 2.51
Average revenue per package $ 15.69 $ 15.11 $ 14.87 $ 14.62 $ 15.12
Airfreight:
Average daily pounds 2,769,922 2,542,226 2,144,225 2,153,041 1,844,270
Average revenue per pound $ .85 $ .94 $ 1.01 $ 1.06 $ 1.06
Operating weekdays 254 254 256 255 257
Aircraft fleet 613 584 557 496 458
RPS
Average daily package volume 1,326,190 1,067,104 1,043,437 1,009,665 854,908
Average revenue per package $ 5.04 $ 4.96 $ 4.92 $ 4.78 $ 4.70
Operating weekdays 256 254 252 253 252
See Note 1 to Notes to Consolidated Financial Statements for a discussion of the periods presented.
(1) Caliber declared dividends of $3,899,000, $28,184,000, $54,706,000, $54,620,000 and $53,746,000 for 1998, 1997, 1996, 1995 and 1994,
respectively. Caliber declared additional dividends of $10,883,000 from January 1,1997 to May 24,1997, that are not included in the amounts above.
FedEx did not pay dividends in the years shown. FDX does not intend to pay dividends on FDX common stock.
SELECTED CONSOLIDATED FINANCIAL DATA