Exhibit 99.1

 

LOGO

Contact:

Rick Rodick

Chief Financial Officer

(562) 552-9400

rrodick@go2uti.com

UTi WORLDWIDE REPORTS FOURTH QUARTER and FISCAL 2015 RESULTS

Long Beach, Calif., March 31, 2015

– UTi Worldwide Inc. (NASDAQ: UTIW) today reported financial results for the fourth quarter and fiscal year ended January 31, 2015.

Fiscal Full Year 2015 vs. 2014 Results

 

    Revenues decreased 5.8% to $4,179.8 million from $4,435.6 million

 

    Net revenues (revenues minus purchased transportation costs) decreased 4.0% to $1,457.6 million from $1,517.8 million

 

    On a constant currency basis, revenues decreased 3.2% percent and net revenues decreased 0.5%, respectively

 

    Net loss attributable to UTi Worldwide Inc. increased to $203.2 million from $83.3 million

 

    Diluted loss per share increased to $2.04 from $0.80 per diluted common share

 

    Severance and other costs increased to $51.2 million from $29.6 million

 

    Earnings before interest, taxes, depreciation and amortization, excluding severance and other costs (adjusted EBITDA), decreased to $20.2 million from $90.7 million.

Edward G. Feitzinger, chief executive officer, said, “Fiscal 2015 was a challenging year for the Company. Our results for the fourth quarter were particularly disappointing and included a number of one-time charges that stemmed from our January restructuring and reorganization efforts. Importantly, the fourth quarter represents the final chapter under the prior playbook. Starting in late January, we began implementing our new strategic direction for our freight forwarding business. We took decisive actions to right-size our cost structure, which is expected to result in $33 million in annual cost savings in addition to the $45 million in annual cost savings we already delivered exiting fiscal year 2015. We streamlined our geographic and leadership structure to maximize the growth potential of the freight forwarding business. We also made progress improving our working capital efficiency, which we expect will continue going forward. I am pleased with the actions taken so far in my relatively short tenure as CEO, and look forward to capturing their full benefits in fiscal 2016. We have identified the needed changes, made many of the

 

Page 1 of 18


The following information was filed by Uti Worldwide Inc (UTIW) on Tuesday, March 31, 2015 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.

View differences made from one year to another to evaluate Uti Worldwide Inc's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Uti Worldwide Inc.

Continue

Never Miss A New SEC Filing Again


Real-Time SEC Filing Notifications
Screenshot taken from Gmail for a new 10-K Annual Report
Last10K.com Member Feature

Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.

Continue

We Highlighted This SEC Filing For You


SEC Filing Sentiment Analysis - Bullish, Bearish, Neutral
Screenshot taken from Wynn's 2018 10-K Annual Report
Last10K.com Member Feature

Read positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.

Continue

Widen Your SEC Filing Reading Experience


Increased Reading Area for SEC Filings
Screenshot taken from Adobe Inc.'s 10-Q Quarterly Report
Last10K.com Member Feature

Remove data columns and navigations in order to see much more filing content and tables in one view

Continue

Uncover Actionable Information Inside SEC Filings


SEC Filing Disclosures
Screenshot taken from Lumber Liquidators 10-K Annual Report
Last10K.com Member Feature

Read both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q

Continue

Adobe PDF, Microsoft Word and Excel Downloads


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshots of actual 10-K and 10-Q SEC Filings in PDF, Word and Excel formats
Last10K.com Member Feature

Export Annual and Quarterly Reports to Adobe PDF, Microsoft Word and Excel for offline viewing, annotations and analysis

Continue

FREE Financial Statements


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshot of actual balance sheet from company 10-K Annual Report
Last10K.com Member Feature

Get one-click access to balance sheets, income, operations and cash flow statements without having to find them in Annual and Quarterly Reports

Continue for FREE

Intrinsic Value Calculator


Intrinsic Value Calculator
Screenshot of intrinsic value for AT&T (2019)
Last10K.com Member Feature

Our Intrinsic Value calculator estimates what an entire company is worth using up to 10 years of financial ratios to determine if a stock is overvalued or not

Continue

Financial Stability Report


Financial Stability Report
Screenshot of financial stability report for Coco-Cola (2019)
Last10K.com Member Feature

Our Financial Stability reports uses up to 10 years of financial ratios to determine the health of a company's EPS, Dividends, Book Value, Return on Equity, Current Ratio and Debt-to-Equity

Continue

Get a Better Picture of a Company's Performance


Financial Ratios
Available Financial Ratios
Last10K.com Member Feature

See how over 70 Growth, Profitability and Financial Ratios perform over 10 Years

Continue

Log in with your credentials

or    

Forgot your details?

Create Account