This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

UTi Worldwide CEO Discusses Q4 2011 Results - Earnings Call Transcript

We saw a very modest expansion in ocean freight during the quarter. Having January in our figures, impacts our comparison to last year because of the earlier Chinese New Year. On a calendar quarter basis we were closely aligned with our peers and the market.

Net revenue per unit expanded in the fourth quarter particularly in air freight. The expansion was driven by a combination of lower carrier rate, and process improvements that include better buying and continued success with our gateway initiatives.

In contract logistics and distribution, net revenue declined in the fourth quarter primarily because of the weaker Rand. However, on an organic basis net revenue in the segment increased 5% in the fiscal 2012 fourth quarter compared to the same quarter a year ago. This was primarily due to new business win and increased client volume especially in Africa and Asia and continued improvement in our US distribution business.

We saw strength primarily in pharmaceuticals, automotive and consumer and retail sectors. We also managed our costs with self-improve the operating margins. The industry faces some headwinds in fiscal 2013 particularly the first half of the year which I will address in my closing remarks. I'll also provide you with an update on our transformation activities at that point.

I'll now ask Lawrence to walk you through the financial results.

Lawrence Samuels

Thank you Eric. Net income attributable to common shareholders in the fiscal 2012 fourth quarter was $0.12 per diluted share. We had some unusual items in the fourth quarter that reduced earnings which I will review in a moment. Excluding these items adjusted net income attributable to common shareholders in the fiscal 2012 fourth quarter was $0.20 per diluted share compared to $0.14 per diluted share recorded in the same period last year.

As a global company, its worth repeating that more than 65% of our revenues and operating cost are incurred in currencies other than the US dollar. While the translation of currencies for reporting purposes always has some effect, in the fiscal 2012 fourth quarter, the weaker South African Rand had a material negative impact on our revenues while generating a corresponding reduction in our expenses when translated in to US dollar reporting currency.

Read the rest of this transcript for free on seekingalpha.com

3 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 16,351.38 +293.03 1.82%
S&P 500 1,948.86 +35.01 1.83%
NASDAQ 4,749.9790 +113.8740 2.46%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs