Exhibit 99.1   Earnings News Release Dated March 29, 2006
News from UTi
Contacts:
     
Lawrence R. Samuels
  Cecilia Wilkinson/Angie Yang
Senior Vice President, Chief Financial Officer
  PondelWilkinson Inc.
UTi Worldwide Inc.
  310.279.5980
310.604.3311
  investor@pondel.com
UTi WORLDWIDE REPORTS FISCAL 2006 FOURTH QUARTER AND YEAR-END FINANCIAL RESULTS
— Fiscal 2006 Operating Income Increases 38% on 25% Gain in Net Revenues —
Rancho Dominguez, California – March 29, 2006 – UTi Worldwide Inc. (NASDAQ NM:UTIW) today reported financial results for the three months and fiscal year ended January 31, 2006.
For the fourth quarter of fiscal 2006, gross and net revenues increased 16 percent and 18 percent, respectively, to $728.2 million and $253.7 million versus the prior-year fourth quarter, due primarily to organic growth. After adjusting for the impact of the generally strengthening U.S. dollar and acquisitions made by UTi during fiscal 2006, gross and net revenues increased 19 percent and 20 percent, respectively, in the fourth quarter of fiscal 2006 when compared to the prior-year fourth quarter.
Operating income for the fiscal 2006 fourth quarter totaled $31.2 million, up 18 percent from $26.5 million in the fiscal 2005 fourth quarter. Operating income as a percentage of net revenues was 12.3 percent in the fiscal 2006 fourth quarter, which was consistent with the 2005 fourth quarter. Operating income as a percentage of net revenues in the fourth quarter of fiscal 2006 was impacted primarily by the growing contribution of UTi’s contract logistics operations, which typically has lower operating margins than the company’s freight forwarding operations, and by higher corporate expenses. In addition, the growth in the operating income as a percentage of net revenues in the fourth quarter of fiscal 2006 for UTi’s freight forwarding operations was constrained by the impact of the expenses related to the reorganization of the company’s Brazilian operations and the company’s opportunistic hiring of sales personnel, as previously disclosed.
Net income for the fiscal 2006 fourth quarter increased 20 percent to $22.3 million, or $0.23 per diluted share, based on 98.7 million shares outstanding, which reflects UTi’s three-for-one split of the company’s ordinary shares implemented March 27, 2006. This compares with net income in the prior-year fourth quarter of $18.6 million, or $0.19 per diluted share, based on 96.6 million shares outstanding, as adjusted for the company’s recent stock split.
“We’re pleased with these results as they reflect another quarter of solid organic growth in each of UTi’s geographic regions as we continue to pursue and invest in our NextLeap goal of providing customized global integrated logistics solutions for our clients,” said Roger I. MacFarlane, chief executive officer of UTi.
For the fiscal year ended January 31, 2006, gross revenues grew 23 percent to $2.8 billion from $2.3 billion in fiscal 2005. Net revenues for fiscal 2006 totaled $966.4 million, up 25 percent from $773.8

 


The following information was filed by Uti Worldwide Inc (UTIW) on Wednesday, March 29, 2006 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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