Airborne Previews First Quarter Results

Apr 16, 2001, 01:00 ET from Airborne, Inc.

    SEATTLE, April 16 /PRNewswire/ -- Airborne, Inc. (NYSE:   ABF) today
 announced first quarter domestic shipment growth slowed to an estimated
 1.9% over year ago levels.  Total domestic shipments for the quarter are
 expected to increase to approximately 83.3 million, augmented by growth in
 @home shipments, compared to 81.8 million shipments in the first quarter of
 2000.  Volumes of @home were 5.5 million shipments in the first quarter
 compared to .6 million a year ago.  As a result of the decline in core
 domestic shipment volumes (excluding @home) and the shift in mix of business,
 the company expects to report a loss greater than the current mean of
 First Call consensus estimates, $(.20) per share, for the first quarter ended
 March 31, 2001.  The first quarter of 2001 has one less operating day compared
 to last year's first quarter, which impedes volume and margin performance.
     (Photo:  http://www.newscom.com/cgi-bin/prnh/20000321/AIRBORNE )
     "We anticipated the first quarter would be difficult, but shipment volume
 growth has proven even more challenging due to the slowing economy," said
 Robert Cline, Chairman and CEO.  "As a result, we expect to report a loss in
 the first quarter towards the lower end of analysts' estimates."  The range of
 analysts' earnings estimates for Q1 according to First Call is a loss of
 $.15 - $.36 per share.
     "We continue to invest in our growth initiatives and commenced our
 Ground Delivery Service (GDS) in the first week of April.  We are maintaining
 our scheduled GDS roll-out, which calls for marketing to an increasing number
 of customers throughout the year," said Carl Donaway, President and COO.
 "With the impact the current economy is having on volumes; however, we are
 taking measures to reduce capital spending in 2001 from our previous target of
 $260 million.  We are now targeting capital spending between
 $200 - $230 million for 2001."
     The company will release preliminary first quarter results on Monday,
 April 23 in advance of its annual shareholders' meeting on Tuesday, April 24.
 The annual shareholders' meeting will be held at 10:00 a.m. PDT at The Westin
 Hotel, Seattle, Washington.  Airborne will release comprehensive first quarter
 results, complete with management commentary, on May 1 at 5:00 a.m. PDT and
 will hold a conference call at 7:30 a.m. PDT that day.  The conference call
 can be accessed live and on demand from the investor relations section of the
 company's website www.airborne.com, or at www.streetfusion.com.
     Airborne, Inc. is the holding company for Airborne Express.  For more than
 50 years, Airborne Express has served the shipping needs of business customers
 around the world.  Today, Airborne offers total distribution solutions by
 providing customers time-sensitive delivery of documents, letters, small
 packages, and freight to virtually every U.S. ZIP code and more than
 200 countries.  Customers can select from a variety of services including
 same-day, next-morning, next-afternoon or second-day delivery, air freight,
 ocean service, and logistics management.
     Except for historical information contained herein, the matters discussed
 in this release contain forward-looking statements that involve risks and
 uncertainties.  The Company's actual results may differ materially from the
 results discussed in the forward-looking statements.  Specifically, there are
 a number of important factors that could cause actual results to differ
 materially from those anticipated by any forward-looking information.  Factors
 that might cause such a difference include, but are not limited to
 miscalculations by the company's employees and discoveries during review by
 the outside auditors, the acceptance of new products and services, the success
 of new initiatives, and the company's ability to control costs and expenses.
 
 

SOURCE Airborne, Inc.
    SEATTLE, April 16 /PRNewswire/ -- Airborne, Inc. (NYSE:   ABF) today
 announced first quarter domestic shipment growth slowed to an estimated
 1.9% over year ago levels.  Total domestic shipments for the quarter are
 expected to increase to approximately 83.3 million, augmented by growth in
 @home shipments, compared to 81.8 million shipments in the first quarter of
 2000.  Volumes of @home were 5.5 million shipments in the first quarter
 compared to .6 million a year ago.  As a result of the decline in core
 domestic shipment volumes (excluding @home) and the shift in mix of business,
 the company expects to report a loss greater than the current mean of
 First Call consensus estimates, $(.20) per share, for the first quarter ended
 March 31, 2001.  The first quarter of 2001 has one less operating day compared
 to last year's first quarter, which impedes volume and margin performance.
     (Photo:  http://www.newscom.com/cgi-bin/prnh/20000321/AIRBORNE )
     "We anticipated the first quarter would be difficult, but shipment volume
 growth has proven even more challenging due to the slowing economy," said
 Robert Cline, Chairman and CEO.  "As a result, we expect to report a loss in
 the first quarter towards the lower end of analysts' estimates."  The range of
 analysts' earnings estimates for Q1 according to First Call is a loss of
 $.15 - $.36 per share.
     "We continue to invest in our growth initiatives and commenced our
 Ground Delivery Service (GDS) in the first week of April.  We are maintaining
 our scheduled GDS roll-out, which calls for marketing to an increasing number
 of customers throughout the year," said Carl Donaway, President and COO.
 "With the impact the current economy is having on volumes; however, we are
 taking measures to reduce capital spending in 2001 from our previous target of
 $260 million.  We are now targeting capital spending between
 $200 - $230 million for 2001."
     The company will release preliminary first quarter results on Monday,
 April 23 in advance of its annual shareholders' meeting on Tuesday, April 24.
 The annual shareholders' meeting will be held at 10:00 a.m. PDT at The Westin
 Hotel, Seattle, Washington.  Airborne will release comprehensive first quarter
 results, complete with management commentary, on May 1 at 5:00 a.m. PDT and
 will hold a conference call at 7:30 a.m. PDT that day.  The conference call
 can be accessed live and on demand from the investor relations section of the
 company's website www.airborne.com, or at www.streetfusion.com.
     Airborne, Inc. is the holding company for Airborne Express.  For more than
 50 years, Airborne Express has served the shipping needs of business customers
 around the world.  Today, Airborne offers total distribution solutions by
 providing customers time-sensitive delivery of documents, letters, small
 packages, and freight to virtually every U.S. ZIP code and more than
 200 countries.  Customers can select from a variety of services including
 same-day, next-morning, next-afternoon or second-day delivery, air freight,
 ocean service, and logistics management.
     Except for historical information contained herein, the matters discussed
 in this release contain forward-looking statements that involve risks and
 uncertainties.  The Company's actual results may differ materially from the
 results discussed in the forward-looking statements.  Specifically, there are
 a number of important factors that could cause actual results to differ
 materially from those anticipated by any forward-looking information.  Factors
 that might cause such a difference include, but are not limited to
 miscalculations by the company's employees and discoveries during review by
 the outside auditors, the acceptance of new products and services, the success
 of new initiatives, and the company's ability to control costs and expenses.
 
 SOURCE  Airborne, Inc.