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Chief Financial Officer
UTi WORLDWIDE REPORTS FIRST QUARTER FISCAL 2016 RESULTS
Long Beach, Calif., June 4, 2015 UTi Worldwide Inc. (NASDAQ: UTIW) today reported financial results for its fiscal 2016 first quarter ended April 30, 2015.
Fiscal First Quarter 2016 vs. Fiscal First Quarter 2015 Results
|||Revenues decreased 6.8% to $973.3 million from $1,043.9 million|
|||Net revenues (revenues minus purchased transportation costs) decreased 10.8% to $329.5 million from $369.4 million|
|||On a constant currency basis, revenues increased 0.7% and net revenues decreased 3.1%, respectively|
|||Net loss attributable to UTi Worldwide Inc. decreased to $33.3 million from $43.7 million|
|||Diluted loss per share decreased to $0.35 from $0.44 per diluted common share|
|||Earnings before interest, taxes, depreciation and amortization, excluding severance and other items set out in the reconciliation included with this press release (Adjusted EBITDA), decreased to $8.0 million from $18.2 million|
Fiscal First Quarter 2016 vs. Fiscal Fourth Quarter 2015 Results
|||Revenues increased 0.9% to $973.3 million from $964.6 million|
|||Net revenues increased 5.5% to $329.5 million from $312.2 million|
|||On a constant currency basis, revenues and net revenues increased 4.1% and 9.1%, respectively|
|||Adjusted EBITDA increased to positive $8.0 million from negative $45.2 million|
Edward G. Feitzinger, chief executive officer, said, Our first quarter results were in line with our expectations coming out of the fourth quarter, reflecting solid execution against the key priorities of our turnaround plan. As I discussed last quarter, there are four priorities that are critical to our near-term success deliver consistent performance in our CL&D business, manage our costs, make improvements in working capital and drive growth and margin improvements in our freight forwarding business. I am
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The following information was filed by Uti Worldwide Inc (UTIW) on Thursday, June 4, 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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