Profits at the global shipping company FedEx were down 12 percent in the company's second quarter, with a net income of $438 million, down from $497 million in the same quarter last year according to an earnings report issued this morning.
Earnings for the company were $1.39 per diluted share, down from last year's $1.57, an 11 percent decline.
The company blamed Hurricane Sandy for the decrease.
FedEx Ground, the unit based in Moon, experienced a 4 percent growth in revenues with $1.38 billion in revenues for the quarter over last year's $1.33 billion.
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