Air and freight forwarder UTi Worldwide reported a decline in net income and revenue for its fiscal second quarter.
UTi, Long Beach, Calif., earned $11.8 million or 12 cents a share on quarterly revenue of $840.5 million for its fiscal quarter ended July 31.
Last year in the same period, the company earned $33.7 million on revenue of $1.26 billion.
Purchased transportation costs fell during the quarter, which partially offest the lowered revenue. These costs were $501.1 million in 2009, compared with $839.1 million last year.
The company’s UTi Integrated Logistics division is ranked No. 19 on the Transport Topics Logistics 50 listing of U.S. and Canadian logistics companies.
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