UPDATE 2-UTi Worldwide Q1 results beat Wall Street view

Thu Jun 3, 2010 9:42am EDT

* Q1 EPS $0.10 vs est $0.09

* Revenue $1.06 bln vs est $921.8 mln (Adds details)

June 3 (Reuters) - Logistics company UTi Worldwide Inc (UTIW.O) posted better-than-expected quarterly results, helped by higher airfreight and ocean freight volumes.

The company, however, said it was adjusting pricing to reflect higher transportation rates, which continued to be volatile on many trade lanes.

"We are intent on achieving our targeted margins, which may adversely impact volume growth in future months," Chief Executive Eric Kirchner said.

For the first quarter ended April 30, net income was $10.1 million, or 10 cents a share, compared with $9.8 million, or 10 cents a share, a year ago.

Revenue rose 37 percent to $1.06 billion.

Analysts on average had expected earnings of 9 cents a share, before special items, on revenue of $921.8 million, according to Thomson Reuters I/B/E/S.

Shares of the company were trading up 3 percent at $14.70 Thursday on Nasdaq. (Reporting by Divya Sharma in Bangalore; Editing by Don Sebastian)

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