UTi Worldwide Reports 4Q Loss

UTi Worldwide reported a fourth-quarter loss of $142.8 million, or $1.38 per share, from a profit of $12.4 million, or 12 cents, a year earlier.

Revenue fell 4.7% to $1 billion for the fiscal quarter ended Jan. 31, the airfreight forwarder said.

UTi blamed a weak air cargo market for lower revenue totals. Airfreight revenue fell to $347 million from $390 million a year earlier.

The company reported a full-year loss of $100 million, or 97 cents, compared with a profit of $72.5 million, or 71 cents, a year ago. Revenue slipped to $4.6 billion from $4.9 billion.

UTi Worldwide is ranked No. 22 on the Transport Topics Logistics 50 listing of U.S. and Canadian logistics companies.