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Uti Worldwide Inc (UTIW) SEC Filing 10-K Annual report for the fiscal year ending Thursday, January 31, 2008

Uti Worldwide Inc

CIK: 1124827 Ticker: UTIW
 

Exhibit 99.1
UTi Worldwide Inc.’s condensed consolidated unaudited income statement for the fiscal year ended January 31, 2007 (fiscal 2007), as previously reported and as adjusted to give affect to the restatement of the consolidated financial statements for fiscal 2007, is as follows:
UTi Worldwide Inc.
Condensed Consolidated Income Statement (unaudited)

(in thousands, except share and per share amounts)
                 
    Year Ended January 31, 2007  
    As Previously     As Adjusted  
    Reported     For Errors  
Gross revenue
  $ 3,561,365     $ 3,561,365  
Freight consolidation costs
    2,336,905       2,338,553  
 
           
Net revenue
    1,224,460       1,222,812  
Staff costs
    642,962       642,962  
Depreciation and amortization
    33,422       33,422  
Amortization of intangible assets
    8,005       8,005  
Other operating expenses
    381,476       383,502  
 
           
Operating income
    158,595       154,921  
Interest income
    8,154       8,154  
Interest expense
    (23,309 )     (23,439 )
Other income
    435       (565 )
 
           
Pretax income
    143,875       139,071  
Provision for income taxes
    32,105       31,729  
 
           
Income before minority interests
    111,770       107,342  
Minority interests
    (3,831 )     (3,831 )
 
           
Net income
  $ 107,939     $ 103,511  
 
           
 
               
Basic earnings per share
  $ 1.11     $ 1.06  
Diluted earnings per share
  $ 1.08     $ 1.04  
Number of weighted average shares used for per share calculations:
               
Basic shares
    97,431,383       97,431,383  
Diluted shares
    99,561,963       99,561,963  

 


The following information was filed by Uti Worldwide Inc (UTIW) on Thursday, March 27, 2008 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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