uti worldwide inc (UTIW) Snapshot

UTi Worldwide Inc. announced that its Board of Directors has declared an annual cash dividend of $0.06 per share on the company's ordinary shares, payable on August 1, 2013 to shareholders of record as of June 30, 2013.

UTi Worldwide Inc. reported unaudited consolidated earnings results for the first quarter ended April 30, 2013. For the quarter, the company reported total revenues of $1,080,653,000 compared to $1,168,657,000 a year ago. The decrease in revenues reflects impact of currency changes and reduced pricing. Operating income was $3,977,000 compared to $23,540,000 a year ago. Provision for income taxes was $11,306,000 compared to $6,474,000 a year ago. Net loss attributable to the company was $12,418,000 or $0.12 basic and diluted per share compared to net income attributable to the company of $12,886,000 or $0.12 diluted per share a year ago. Excluding adjustments to GAAP results that I'll discuss in a moment, adjusted net loss was $2.4 million or $0.02 per diluted share. Net cash used in operating activities was $52,563,000 compared to $10,248,000 a year ago. Purchases of property, plant and equipment, excluding software were $8,543,000 compared to $11,790,000 a year ago. Purchases of software and other intangible assets were $6,573,000 compared to $6,524,000 a year ago. Non-GAAP operating income was $6,646,000 compared to $25,240,000 a year ago. Non-GAAP pretax income was $3,111,000 compared to $22,404,000 a year ago. Non-GAAP net loss attributable to the company was $2,439,000 or $0.02 diluted per share compared to net income attributable to the company of $15,350,000 or $0.15 diluted per share a year ago. The company currently estimates that its effective tax rate for fiscal 2014 will be 37%.

UTi Worldwide Inc., Q1 2014 Earnings Call, Jun 06, 2013