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UTi Worldwide Q1 2016 revenues decreased 6.8%

Staff writer |
UTi Worldwide reported financial results for its fiscal 2016 first quarter ended April 30, 2015. Revenues decreased 6.8% to $973.3 million from $1,043.9 million in Q1 2015.

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Net revenues (revenues minus purchased transportation costs) decreased 10.8% to $329.5 million from $369.4 million. On a constant currency basis, revenues increased 0.7% and net revenues decreased 3.1%, respectively.

Net loss attributable to UTi Worldwide Inc. decreased to $33.3 million from $43.7 million.

Diluted loss per share decreased to $0.35 from $0.44 per diluted common share Earnings before interest, taxes, depreciation and amortization, excluding severance and other items set out in the reconciliation included with this press release (Adjusted EBITDA), decreased to $8 million from $18.2 million.

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