UPS turns a profit in the 4Q

ATLANTA - UPS Inc., the world's largest shipping carrier, says it swung to a fourth-quarter profit of $254 million, though sales slid 5.2 percent and the company warned that 2009 will be one of the most difficult years ever.

UPS said Tuesday its October-December profit was equivalent to 25 cents a share, compared to a loss of $2.6 billion, or $2.52 a share, for the same period a year ago.

The Atlanta-based company's adjusted results were short of Wall Street expectations.

Excluding one-time items, UPS' quarterly profit was 83 cents a share. Analysts polled by Thomson Reuters, on average, expected UPS to post earnings of 85 cents a share. Analysts generally exclude one-time items from their estimates.

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