UTi Worldwide Inc. on Thursday, Dec. 6, reported financial results for its third fiscal quarter ended Oct. 31, reflecting continued revenue growth over the prior-year comparative quarter.
Fiscal third quarter 2008 vs. 2007 results:
“We’re pleased to see excellent revenue growth across our regions, which validates our strategy of broadened service offerings,” said Roger I. MacFarlane, chief executive officer of Long Beach, Calif.-based UTi Worldwide. “The solid net revenue growth was particularly gratifying, even with lower freight yields and a slow domestic trucking market. We fully realized the benefits of our planned cost reduction measures during the quarter, further improving expense ratios, which contributed to a sequential increase in operating margins. We remain focused on operating margin improvement under our CLIENTasONE strategy, as we continue to grow our business.”
UTi Worldwide is an international, nonasset-based supply chain services and solutions company providing air and ocean freight forwarding, contract logistics, customs brokerage, distribution, inbound logistics, truckload brokerage and other supply chain management services.