Logistics company UTi reports bigger quarterly loss
By: Reuters | Jun 05 2014 at 08:15 AM | Logistics
Logistics company UTi Worldwide Inc reported a bigger quarterly loss as revenue fell in its air and ocean freight businesses.
The net loss attributable to UTi increased to $43.2 million, or 43 cents per share, in the first quarter ended April 30, from $12.4 million, or 12 cents per share, a year earlier.
Excluding items, UTi posted a loss of 9 cents per share.
Revenue fell 3.3 percent to $1.05 billion.
(Reporting by Ankit Ajmera in Bangalore; Editing by Saumyadeb Chakrabarty)