LONG BEACH, Calif., Sept. 6, 2012 (GLOBE NEWSWIRE) -- UTi Worldwide Inc. (Nasdaq:UTIW) today reported financial results for its fiscal 2013 second quarter ended July 31, 2012. Fiscal Second Quarter 2013 vs. 2012 Results:
- Revenues were $1,155.8 million, a decrease of 10.9 percent from $1,297.4 million.
- Net revenues (revenues minus purchased transportation costs) were $406.1 million, a decrease of 8.4 percent from $443.4 million.
- Net income attributable to UTi Worldwide Inc. was $18.9 million, or $0.18 per diluted share, compared to $22.9 million, or $0.22 per diluted share.
- After-tax severance costs were $1.4 million, compared to $2.4 million.
- Excluding severance costs, adjusted net income attributable to UTi Worldwide Inc. was $20.3 million, or $0.20 per diluted share, compared to $25.3 million, or $0.24 per diluted share.
- The impact from currency translation reduced net income by approximately $0.03 per diluted share, compared to the fiscal 2012 second quarter.
- All references to adjusted items and organic items in this release refer to non-GAAP results. A reconciliation of GAAP to these non-GAAP results is provided in the supplemental financial information attached to this release.