UPS posted third-quarter net income of $970 million, down 9.9% from $1.08 billion in the year-ago period, and CFO Kurt Kuehn warned, "We anticipate a challenging environment for a number of quarters going forward." Revenue increased 7.4% to $13.11 billion while expenses lifted 9.4% to $11.48 billion, producing an operating profit of $1.63 billion, off 4.4% from $1.63 billion last year. International package revenue, which is highly dependent on UPS Airlines, rose 16.6% to $2.95 billion. ...

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