Thursday, March 22, 2012

UTi Worldwide Q4 profit dropped

The Long Beach, Calif.-based global logistics firm UTi Worldwide Inc. posted fourth quarter net earnings of $12.4 million, down from $14.5 million for the same period a year ago.

"Volumes in freight forwarding were weak in our fourth quarter, particularly in the month of January, due to a soft market and the timing of Chinese New Year," CEO Eric Kirchner said in a statement.

UTi’s revenue was virtually unchanged at $1.15 billion as the company’s revenue from its airfreight sector declined approximately 1 percent to $389.6 million.

More Newswire stories

China’s manufacturing slows down in March

Fedex Q3 profit beats estimates; remaining forecast lowered

DHL launches new round-the-world next-day service

“Floating armories” on the increase in anti-piracy efforts

Today's Cargo News Archives

Click to browse past stories on these topics:

Logistics

Ports & Infrastructure

Economic Outlook

Environmental Impact

Technology