FedEx reported net income for its fiscal year ended May 31 of $1.18 billion, significantly improved over a $98 million profit in the prior year, despite a 2% dip in revenue to $34.73 billion. Total FY2009-10 expenses lowered 6% to $32.74 billion, helped in part by an 18% decrease in fuel costs to $3.1 billion. Operating income was $2 billion, well more than double $747 million in the prior year. The company noted that the fiscal year, which began in the midst of the global recession, ...

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