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(UPS) - Get United Parcel Service, Inc. Class B Report

beat Wall Street's fourth-quarter earnings and revenue estimates but warned that results in the first quarter could trail current predictions.

The package delivery service earned $645 million, or 57 cents a share, in the fourth quarter on revenues of $8.1 billion. Analysts had been predicting earnings of 50 cents a share on revenues of $7.96 billion. In the year-ago quarter, the company earned $724 million, or 63 cents a share, on revenues of $7.9 billion.

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"Our cost controls remained highly effective and served to mitigate the effects of the U.S. slowdown, even as we continued to effectively position UPS for the coming economic rebound,'' the company said. "During the quarter, our international operation resumed its growth and profitability and the logistics and freight segments also posted gains.''

UPS predicted it would earn 40 cents to 47 cents a share in the first quarter, citing the lingering weak economy. Analysts were expecting earnings of 47 cents.