UTi Worldwide’s Fiscal 1Q Income Slips

Air and freight forwarder UTi Worldwide said Thursday its fiscal first-quarter profit fell to $8.7 million, or 8 cents per share, from $10.1 million, or 10 cents, a year ago.

Revenue rose 14% to $1.2 billion for the quarter ended April 30, the logistics company said in a statement.

Operating income slipped slightly to $18.8 million from a year ago, the Long Beach, Calif.-based company said.

CEO Eric Kirchner attributed the improved revenue to higher airfreight volumes and contract logistics activity.

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.