UTi Worldwide Q3 Profit Meets Street - Quick Facts

(RTTNews) - UTi Worldwide Inc. (UTIW), Thursday reported a loss for the third-quarter that included after-tax severance costs of $12 million. The company also recorded additional tax expense exceeding its normalized tax rate by $5.2 million. Excluding items, it reported profit, that came in line with the Street estimates.

Net loss attributable to the company was $9.1 million or $0.09 per share, compared with net income of $10.5 million or $0.10 per share last year.

Excluding the after-tax severance costs and the additional tax expense, adjusted earnings were $8.1 million or $0.08 per share. On average, fourteen analysts polled by Thomson Reuters expected the company to report earnings per share of $0.08 for the quarter. Analysts' estimates typically exclude one-time items.

Revenues were $1.154 billion for the three-month period, down from $1.156 billion last year. Excluding purchased transportation costs, net revenues were $393.5 million, down 2.5 percent from $403.6 million a year ago. On an organic basis, revenues increased 3.1 percent and net revenues increased 1.6 percent from a year before. Analysts expected the company to generate revenues of $1.14 billion for the quarter.