June 7, 2012 10:30 AM, EDT

UTi Worldwide’s 1Q Profit Improves

UTi Worldwide’s fiscal first-quarter net income rose to $12.9 million, or 12 cents a share, from $8.7 million, or 8 cents, a year earlier.

Revenue slipped 4% to $1.15 billion for the quarter ended April 30, the air and freight forwarder said Thursday.

UTi blamed a weak air cargo market, particularly in April, for lower revenue totals. Air freight revenue fell 13% to $381.1 million.

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