UTi Worldwide’s 2Q Income Dips

Air and ocean freight forwarder UTi Worldwide said Thursday its fiscal second-quarter net income fell 20% to $27.7 million or 28 cents a share, from $34.5 million or 35 cents a year ago.

Last year’s second fiscal quarter had included a $10.8 million gain related to an acquisition, the company said.

Gross revenue rose 17% to $1.05 billion for the quarter ended July 31, the company said. Net revenue jumped 20% to $366.8 million.

UTi Worldwide — incorporated in the British Virgin Islands with operating headquarters in Rancho Dominguez, Calif. — is ranked No. 24 on the Transport Topics Logistics 50 listing of U.S. and Canadian logistics companies.