Kirchner continued, "Revenues in the second quarter of fiscal 2014 were lower than the same period last year, with declines seen in both segments. Freight forwarding was impacted by lower pricing, which was partially offset by a modest increase in volumes. Airfreight tonnage was slightly higher in the second quarter for the first time in more than two years. Ocean freight continued to show steady volume growth in the second quarter. Net revenue per kilo and TEU declined in the fiscal 2014 second quarter compared to the same period last year, but improved modestly on a sequential basis as carrier rates declined. Contract logistics was affected by currency translation, as well as the previously reported exit of underperforming business in Europe and conclusion of certain high-margin accounts."Revenues and net revenues decreased 4.5 percent and 5.0 percent, respectively, in the fiscal 2014 second quarter compared to the same period last year. On an organic basis, revenues decreased 2.2 percent, while net revenues declined 1.6 percent in the fiscal 2014 second quarter, compared to the same period last year.
UTi Worldwide Reports Fiscal 2014 Second Quarter Results
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