First, the bad news: FedEx reported a net loss of $876 million in the final quarter (ended 31 May) of its 2009 fiscal year, as total revenues fell 20.4% to $7.86 billion. Now the good news: Package volumes, particularly in the company's core US domestic express segment, were down less than many observers expected, and absent one-time charges of $1.2 billion, FedEx would have reported a modest profit in the quarter.
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