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Continued shipment growth, together with improved margins, should lead to earnings improvement . . . [which] earnings for 1994 are estimated at $2.20 a share, up from the $1.66 of 1993."4 Meanwhile, international shipments will be driven by growth in small package express traffic which should favorably increase revenues. Also, as overnight shipments increase, lower- priced deferred and less premium services should provide significant growth in the future. These positive estimates may have been due, in part, to the announcement in August 1993, that IBM had awarded a contract to Airborne for U.S...
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