UTi Worldwide Reports Fourth-Quarter Profit

Air and freight forwarder UTi Worldwide reported a profit for its fourth quarter, compared with a  loss a year earlier.

The company earned $1.5 million, or 2 cents a share, compared with a loss of $89.8 million, or 90 cents, a year earlier.

Revenue for the quarter ended Jan. 31 rose 11% to $991.5 million from $894 million, the company said.

Airfreight forwarding revenue rose to $349.8 million from $287.6 million, ocean freight forwarding improved to $255.3 million from $249.2 million and contract logistics revenue rose to $174.9 million from $148.5 million.

The company’s UTi Integrated Logistics division is ranked No. 22 on the Transport Topics Logistics 50 listing of U.S. and Canadian logistics companies.