NEW YORK (TheStreet) -- Shares of UTi Worldwide (UTIW) were falling 15.6% to $10.38 Wednesday after the air delivery company missed analysts' estimates for earnings and revenue for the fourth quarter of fiscal 2015.
UTi Worldwide reported a loss of $1.02 a share for the fourth quarter, below analysts' estimates of 8 cents a share for the quarter. Revenue fell 10.7% year over year to $964.6 million for the quarter, below analysts' estimates of $1.08 billion.
"Our results for the fourth quarter were particularly disappointing and included a number of one-time charges that stemmed from our January restructuring and reorganization efforts," CEO Edward G. Feitzinger said. "Importantly, the fourth quarter represents the final chapter under the prior playbook. Starting in late January, we began implementing our new strategic direction for our freight forwarding business."
The company lowered its full year 2016 EBITDA guidance to a range of $125 million to $150 million from its previous range of $190 million to $210 million for the fiscal year.
TheStreet Ratings team rates UTI WORLDWIDE INC as a Hold with a ratings score of C-. TheStreet Ratings Team has this to say about their recommendation:
"We rate UTI WORLDWIDE INC (UTIW) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, good cash flow from operations and expanding profit margins. However, as a counter to these strengths, we find that the growth in the company's net income has been quite unimpressive."
You can view the full analysis from the report here: UTIW Ratings Report