Third-quarter profits at Caterpillar Financial Services totaled $97 million, a drop of 11 percent from the mark of the same period of 2015. Revenues for the three months ended Sept. 30 were essentially flat at $651 million.

The main cause for the drop in profits was a $10 million increase from 2015’s quarter in returned or repossessed equipment.  The West End-based lender cut $7 million out of its operating expenses — a year ago, it wasn’t spared when executives of parent company Caterpillar said they would cut 4,000 jobs — but that was offset by higher loan loss provisions.