Alan Graf
Alan Graf
believe compete postal preferred presence product service virtually
We believe our product offerings are complementary. We have virtually no presence in the lightweight preferred market, so we don't really compete with the postal service there,
bring compete cost customer distinct market operating services structure
Profitability is improving, ... By operating each of the FDX subsidiaries independently to compete in distinct market segments, we bring the most appropriate services and cost structure to each customer segment.
air believe businesses ground mode punished recession shift slow
We do not think there is a mode shift (from air to ground shipments, ... We believe that the express-intensive businesses are the ones that have been punished the most in the recession and the slow recovery.
continuing demand durable economic express goods reduced weak
Continuing weak economic conditions, particularly in the high-tech and durable goods sectors sharply reduced demand for our express services.
continued cost fourth good management strong
Continued good strong cost management will be implemented in the fourth quarter,
advertising certain due exceeded expenses fiscal forecast half original performance quarter second
We exceeded our original forecast for the second quarter due to outstanding operational performance and the deferral of certain advertising and promotional expenses to the second half of the fiscal year.
continue cost fiscal intend manage profitable quarter remain second structure
We intend to continue to manage the company's cost structure to remain profitable in the second quarter and the remainder of fiscal 2002,
economy expecting global improve maybe quarter seen
We have not seen the global economy improve and we're not expecting it to in the (fiscal) first quarter or maybe the 2Q as well,
concerned enamored growth market people provides sake share volume
What we are most concerned with at FedEx is volume growth that provides a compensatory returns, ... I'm not as enamored with market share for market share sake as some people who like to write about it.
above cents gallon point raised
We're 25 cents a gallon above the point where we raised our surcharge to 4 percent.
across expense management portfolio reflect results strength
This quarter's results reflect the competitive strength of our diversified and expanded portfolio of services, as well as outstanding expense management across all our companies,
accelerate continued growth quarter second volume
Volume growth accelerated at the end of (the second quarter) and has continued to accelerate in quarter three.
affected conditions decline durable economic express goods industries rapid
Deteriorating economic conditions and the rapid decline in the high-tech and other durable goods industries have increasingly affected FedEx Express volumes,
fourth proud
We're proud of our fourth quarter, and we're back.