First-quarter net income rose to $12.9 million, or 12 cents per share, from $8.7 million, or 8 cents per share, a year earlier.
Excluding items, earnings were 14 cents per share. Revenue fell 4 percent to $1.15 billion.
Analysts expected earnings of 16 cents per share on revenue of $1.23 billion, according to Thomson Reuters I/B/E/S.
Air freight revenue fell 13 percent to $381.1 million. (Reuters)