UTi Worldwide’s 3Q Profit Falls

Air and freight forwarder UTi Worldwide reported a decline in net income and revenue for its fiscal third quarter.

UTi, Long Beach, Calif., earned $18 million or 18 cents a share on quarterly revenue of $967.2 million for its fiscal quarter ended Oct. 31.

Last year in the same period, the company earned $37.9 million on revenue of $1.21 billion.

Purchased transportation costs fell 24.5% during the quarter, which partially offset the lowered revenue. These costs were $802 million in 2009, compared with $605.7 million last year.

The company’s UTi Integrated Logistics division is ranked No. 22 on the Transport Topics Logistics 50 listing of U.S. and Canadian logistics companies.