ATLANTA TheStreet) -- UPS ( UPS) said third-quarter net income rose 12% despite slowing exports from Asia. The largest overnight package carrier said it earned $1.04 billion, or $1.06 a share. Analysts surveyed by Thomson Reuters had estimated $1.05. Revenue rose 8% to $13.2 billion, in line with estimates.
In the same quarter a year earlier, UPS earned $991 million, or 99 cents a share. The company said its domestic operating margin improved by 13% while its supply chain and freight segment profit grew by 10%. Domestic operating profit was $1 billion, down marginally from a year earlier, as domestic revenue rose 6.5% to $7.8 billion. In international package, revenue rose 14% to $3.1 billion, but operating margin fell to 13.4% from 15.7%, due to excess capacity as package volume declined. "UPS produced another solid quarter of earnings growth against the backdrop of a deceleration in exports from Asia and a challenging global economic environment," said CEO Scott Davis, in a prepared statement. Looking ahead, the company reiterated its 2011 guidance toward earnings of $4.15 to $4.40 a share. During the quarter, UPS delivered 965 million packages, an increase of 0.7% over the prior-year period. Additionally, UPS purchased more than $1.1 billion in its stock. Year to date, UPS has repurchased 31.7 million shares for about $2.2 billion and paid dividends of $1.5 billion. -- Written by Ted Reed in Charlotte, N.C. >To contact the writer of this article, click here: Ted Reed >To follow the writer on Twitter, go to http://twitter.com/tedreednc. >To submit a news tip, send an email to: email@example.com.