UTi Worldwide Inc. (UTIW) reported a fourth-quarter net loss attributable to company of $142.8 million, or $1.38 per share, compared to profit of $12.4 million, or $0.12 per share, last year. Excluding items, adjusted net loss attributable to UTi Worldwide was $13.4 million, or $0.13 per share, compared to profit of $14.7 million, or $0.15 per share, last year. Revenues were $1.10 billion, a decrease of 4.7 percent from $1.15 billion, prior year.
UTi Worldwide recorded goodwill and intangible asset impairment and severance costs in the fiscal 2013 fourth quarter of $95.0 million after taxes, or $0.92 per share.
On average, 15 analysts polled by Thomson Reuters expected the company to report profit per share of $0.14 for the quarter. Analysts' estimates typically exclude speical items. Analysts expected revenue of $1.02 billion for the quarter.
The company said its fourth-quarter results reflect the ongoing weakness in the airfreight market and a challenging pricing environment in freight forwarding. The company will continue to manage costs throughout fiscal 2014.
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