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UTi Worldwide Inc. (UTIW) filed Quarterly Report for the period ended 2011-10-31.
Uti Worldwide Inc. has a market cap of $1.42 billion; its shares were traded at around $13.83 with a P/E ratio of 16.46 and P/S ratio of 0.31. The dividend yield of Uti Worldwide Inc. stocks is 0.43%. Uti Worldwide Inc. had an annual average earning growth of 13.7% over the past 10 years.
This is the annual revenues and earnings per share of UTIW over the last 10 years. For detailed 10-year financial data and charts, go to 10-Year Financials of UTIW.
Highlight of Business Operations:
Ocean freight forwarding net revenues increased $4.6 million, or 9%, for the third quarter of fiscal 2012, compared to the corresponding prior year period. Foreign currency fluctuations contributed $1.4 million to the increase for the third quarter of fiscal 2012, compared to the prior year period. Ocean freight volumes, as expressed in TEUs, increased 5% for the third quarter of fiscal 2012, compared to the corresponding prior year period. As with airfreight, ocean freight net revenue per unit of cargo also increased in the third quarter. Yields and net revenue per unit improved over the prior year due to declining carrier costs as available capacity exceeded demand for both air and ocean freight. Ocean freight net revenue per TEU increased 5% for the third quarter of fiscal 2012, compared to the corresponding prior year period. Ocean freight yields increased approximately 110 basis points to 16.5% during the third quarter of fiscal 2012, compared to 15.4% for the corresponding prior year period. When compared on a sequential basis to the second quarter of fiscal 2012, ocean freight yields decreased 40 basis points from 16.9%.Ocean freight forwarding net revenues increased $14.5 million, or 10%, for the nine months ended October 31, 2011, compared to the corresponding prior year period. Foreign currency fluctuations contributed $7.6 million to the increase for the nine months ended October 31, 2011, compared to the corresponding prior year period. Ocean freight volumes, as expressed in TEUs, were at slightly higher levels than a year ago, having increased 2% for the nine months ended October 31, 2011, compared to the corresponding prior year period. However, ocean freight net revenue per unit of cargo expanded during the nine months ended October 31, 2011, compared to the corresponding prior year period. Ocean freight net revenue per TEU increased 9% for the nine months ended October 31, 2011, compared to the corresponding prior year period. We exited a high-volume, low-yielding contract during the second quarter of our fiscal 2011, which improved our growth rate over the comparable nine month period. Yields and net revenue per unit improved over the corresponding prior year period due to declining carrier costs as available capacity exceeded demand for both air and ocean freight. Ocean freight yields increased approximately 100 basis points to 16.7% from 15.7% during the nine months ended October 31, 2011, compared to the corresponding prior year period, which is partially reflective of the exit from low-yielding businesses from the prior year period.
Customs Brokerage and Other. Customs brokerage revenues increased $13.9 million, or 17%, for the nine months ended October 31, 2011, compared to the corresponding prior year period. Contributing to the increase was an increase in the number of total clearances, which increased 4% for the nine months ended October 31, 2011, compared to the corresponding prior year period. Foreign currency fluctuations contributed $4.4 million to the increase in revenues for the nine months ended October 31, 2011, compared to the prior year period. Customs brokerage net revenues increased $15.1 million, or 20%, for the nine months ended October 31, 2011, compared to the corresponding prior year period.
Operating Expenses. Staff costs in our freight forwarding segment increased $48.0 million, or 17%, for the nine months ended October 31, 2011, compared to the corresponding prior year period. Foreign currency fluctuations contributed $14.8 million to the increase in staff costs for the nine months ended October 31, 2011, compared to the corresponding prior year period. As a percentage of freight forwarding segment revenues, staff costs in the freight forwarding segment were approximately 13% and 12% for the nine months ended October 31, 2011 and 2010, respectively. Other operating costs in our freight forwarding segment increased $4.0 million, or 3%, for the nine months ended October 31, 2011, compared to the corresponding prior year period. Foreign currency fluctuations contributed $7.9 million to the increase in other operating costs in the freight forwarding segment for the nine months ended October 31, 2011, compared to the prior year period. Excluding the effects of foreign currency, other operating
Contract logistics revenues increased $85.0 million, or 16%, for the nine months ended October 31, 2011, compared to the corresponding prior year period. Contract logistics purchased transportation costs increased $35.5 million, or 30%, for the nine months ended October 31, 2011, compared to the corresponding prior year period. The increases in contract logistics revenue and purchased transportation costs were primarily due to increases in business activity, compared to the same period from last year. Foreign currency fluctuations contributed $20.5 million and $4.3 million to the increases in revenue and purchased transportation costs, respectively, for the nine months ended October 31, 2011, compared to the prior year period.
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