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Global Vice President, Investor Relations
UTi WORLDWIDE REPORTS FISCAL 2015
SECOND QUARTER RESULTS
Positive Free Cash Flow Targeted in Fiscal 2015
EBITDA of $190-210 Million Targeted in Fiscal 2016
Long Beach, Calif., September 4, 2014 UTi Worldwide Inc. (NASDAQ: UTIW) today reported financial results for its fiscal 2015 second quarter ended July 31, 2014.
Fiscal Second Quarter 2015 vs. 2014 Results:
|||Revenues were $1,091.2 million, a decrease of 3.4 percent from $1,129.4 million.|
|||Net revenues (revenues minus purchased transportation costs) were $401.2 million, an increase of 4.0 percent from $385.6 million.|
|||On an organic basis, revenues decreased 2.7 percent and net revenues increased 5.5 percent versus the comparable prior year period.|
|||Net loss attributable to UTi Worldwide Inc. was $16.9 million in the fiscal 2015 second quarter. Net loss attributable to common shareholders after dividends on preferred stock was $0.19 per diluted common share.|
|||Net loss attributable to UTi Worldwide Inc. in the fiscal 2014 second quarter was $4.4 million, or $0.04 per diluted common share.|
|||The company recorded severance and other costs of $1.6 million compared to $3.2 million. In addition, UTi recorded additional tax expense exceeding its normalized tax rate of $11.2 million, or $0.11 per diluted common share.|
|||Excluding severance and other costs and the additional tax expense described above, non-GAAP net loss attributable to UTi Worldwide Inc. was $4.2 million. Non-GAAP net loss attributable to common shareholders after preferred stock dividends was $0.07 per diluted common share.|
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The following information was filed by Uti Worldwide Inc (UTIW) on Thursday, September 4, 2014 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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