UTI Profit Falls Shy of Expectations
Logistics company UTI Worldwide reported Thursday quarterly income sharply higher than previous year's comparable period, but its bottom-line number fell short of analysts expectations.
UTI said it earned $23.6 million, or 24 cents a share, for its fiscal fourth quarter, which ended in January, up from $9.7 million, or 10 cents a share, in the same quarter a year ago. Revenues rose 31% from the year-ago period to $951.3 million.
Analysts surveyed by Thomson Financial predicted a profit of 26 cents a share on revenues of $935 million.
Shares of UTI Worldwide fell 0.3% in Germany.
The company said it would provide earnings guidance during its conference call at 10 am New York time.