Delivery company FedEx says a recent cyber-attack cost its TNT division about $300m.
The company was one of several to have its computer systems severely disrupted by the NotPetya ransomware outbreak in June.
Company executives also acknowledged TNT had yet to fully restore all its IT operations and was expected to do so only at the end of the month. And they said deliveries and sales continued to suffer as a result.
FedEx execs reckon systems will only be fully restored at the end of September, three months after the file-scrambling nasty romped through networks.
“Most TNT Express services resumed during the quarter and substantially all TNT Express critical operational systems have been restored,” FedEx said in a statement. “However, TNT Express volume, revenue and profit still remain below previous levels.”
“Operating results declined due to an estimated $300m impact from the cyberattack, which was partially offset by the benefits from revenue growth, lower incentive compensation accruals and ongoing cost management initiatives,” it added.
The company said it believes the cyberattack was the result of a nation-state targeting Ukraine and the companies that do business there, and that it is widely believed the attack came from “weaponized cyber tools” stolen from the U.S. government.
FedEx was one of a number of high-profile victims of the Petya malware epidemic, which originated in Ukraine but spread to bring down IT systems around the world.