Logistics company UTi Worldwide Inc posted a lower fourth-quarter profit, h urt by lower volumes at its freight forwarding business.

"Volumes in freight forwarding were weak in our fourth quarter, particularly in the month of January, due to a soft market and the timing of Chinese New Year," CEO Eric Kirchner said in a statement.

November-January net income attributable to UTi Worldwide fell to $12.4 million, or 12 cents a share, from $14.5 million, or 14 cents a share, a year ago. Excluding items, the company earned 20 cents a share.

Revenue was flat at $1.15 billion. Air freight forwarding revenue declined about 1 percent to $389.6 million. (Reuters)