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UTi Worldwide posts bigger-than-expected quarterly loss
March 31, 2014 / 10:46 AM / 4 years ago

UTi Worldwide posts bigger-than-expected quarterly loss

March 31 (Reuters) - Logistics company UTi Worldwide Inc reported a bigger-than-expected quarterly loss, hurt by weak demand for air freight.

Net loss attributable to UTi Worldwide narrowed to $50.7 million, or 48 cents per share, for the quarter ended Jan. 31 from $142.8 million, or $1.38 per share, a year earlier.

UTi posted a loss of 15 cents per share, excluding items.

Revenue fell 2.1 percent to $1.08 billion.

Analysts on average had expected an adjusted loss of 11 cents per share on revenue of $1.09 billion, according to Thomson Reuters I/B/E/S. (Reporting by Ankit Ajmera in Bangalore; Editing by Kirti Pandey)

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