UTi Worldwide’s 4Q Profit Declines

Air and freight forwarder UTi Worldwide said its fiscal fourth-quarter net income slipped to $12.4 million, or 12 cents a share, from $14.5 million, or 14 cents, a year earlier.

Revenue edged up 0.7% to $1.15 billion for the quarter ended Jan. 31, the company said Thursday.

The strengthening of the U.S. dollar, especially against the South African rand, had a negative impact on revenue growth in the quarter, CEO Eric Kirchner said in a statement.

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