United Parcel Service Inc. said Tuesday its fourth-quarter profit more than doubled in the absence of charges, with improved international demand also helping the shipping firm.

Shares of UPS /quotes/comstock/13*!ups/quotes/nls/ups (UPS 57.20, -0.09, -0.16%) rose less than 1% to finish at $58.62. In the last 12 months the stock has risen more than 38%.

For the most recent quarter, the Atlanta-based company said it earned $757 million, or 76 cents a share, up from $254 million, or 25 cents a share, in the year-ago period.

UPS was hit by $575 million worth of charges in the fourth quarter of 2008, mostly on a goodwill impairment of its UPS Freight unit.

Sales edged down to $12.5 billion from $12.7 billion.  

UPS said it ended 2009 on a high note by "leveraging network changes implemented throughout the year and executing flawlessly during the peak holiday shipping period, which was stronger than we had anticipated," Chairman and CEO Scott Davis said.

All regions experienced export volume growth, led by Asia and the United States, the company said.

For 2010, UPS forecast earnings in a range of $2.70 to $3.05 a share, with the first quarter slated to be the most challenging.

The Wall Street consensus was for the full-year is earnings of $2.79 a share.

"I'm optimistic about the future. Recovery is underway in many regions of the world, but it will be gradual," Davis said in a conference call. "It looks like this recession is finally over."