UTi Worldwide’s 4Q Profit Rises

Air and freight forwarder UTi Worldwide’s fiscal fourth-quarter net income jumped to $14.5 million, or 14 cents a share, from $1.5 million, or 2 cents, a year earlier.

Revenue gained 15% to $1.1 billion for the quarter ended Jan. 31, the company said. Operating income rose 120.3% to $26 million.

The improved results were driven by higher air freight volumes and logistics and distribution revenues, Chief Executive Officer Eric Kirchner said.

For the full 2011 fiscal year, income grew to $69.9 million, compared with $41.1 million the year before. Revenue rose to $4.5 billion, from $3.6 billion in 2010.

The company’s UTi Integrated Logistics division is ranked No. 24 on the Transport Topics Logistics 50 listing of U.S. and Canadian logistics companies.