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Less-than-truckload (LTL) average daily shipments increased 26 percent and LTL yield declined 8 percent year over year due to the effects of discounted pricing. Operating loss increased in the quarter due to lower yields and higher purchased transportation costs.
FedEx Freight and FedEx National LTL implemented a 5.9 percent general rate increase on February 1, 2010 and are aggressively pursuing opportunities to increase yields.
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