June 22 2011 06:46 PM

FedEx Corp. (NYSE: FDX) today reported earnings of $1.75 per diluted share for the fourth quarter ended May 31,
compared to $1.33 per diluted share a year ago, a year-over-year increase of 32%.

"During fiscal 2011, an improved economy, strong customer demand and decisive actions to grow our business led
to increased volumes and yields across all transportation segments," said Frederick W. Smith, FedEx Corp.
chairman, president and chief executive officer. "With this positive momentum, moderate economic growth and
subsiding cost headwinds, FedEx is well positioned to deliver strong earnings growth in fiscal 2012."

Fourth Quarter Results
FedEx Corp. reported the following consolidated results for the fourth quarter:
Revenue of $10.55 billion, up 12% from $9.43 billion the previous year
Operating income of $888 million, up 28% from $696 million last year
Operating margin of 8.4%, up from 7.4% the previous year
Net income of $558 million, up 33% from last year's $419 million

Revenue and earnings increased due to continued strong yield improvement in all transportation segments and
volume growth of ground and international express shipments. FedEx Freight's return to profitability also improved
operating results.
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