Last $11.61 USD
Change Today +0.14 / 1.22%
Volume 842.4K
UTIW On Other Exchanges
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As of 8:10 PM 01/28/15 All times are local (Market data is delayed by at least 15 minutes).

uti worldwide inc (UTIW) Key Developments

UTi Worldwide Denies Sale Rumors

UTi Worldwide Inc. (NasdaqGS:UTIW) has denied any talks with DSV A/S (CPSE:DSV). UTi said on December 18, 2014, that the company has not been in advanced talks to sell itself to DSV, refuting a Bloomberg. UTi confirmed that talks were initiated with DSV, yet negotiations never progressed beyond a preliminary stage and that currently the two companies are not in discussions. UTi rose to close at $11.01.

UTi Worldwide Inc. Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended October 31, 2014; Reaffirms Earnings Guidance for the Fiscal 2016

UTi Worldwide Inc. announced unaudited consolidated earnings results for the third quarter and nine months ended October 31, 2014. For the quarter, the company reported total revenues of $1,078,279,000 compared to $1,154,406,000 a year ago. Operating loss was $22,209,000 compared to operating income of $7,246,000 a year ago. Pretax loss was $32,971,000 against pretax income of $2,029,000 a year ago period. Net loss was $35,264,000 against $7,305,000 a year ago period. Net loss attributable to company was $33,995,000, or $0.35 per basic and diluted share, compared to net loss of $9,075,000, or $0.09 per basic and diluted share. Non-GAAP operating income was $1,465,000 against $20,430,000 a year ago period. Non-GAAP pretax loss was $9,297,000 against non-GAAP pretax income of $15,213,000 a year ago period. Non-GAAP net loss attributable to company was $4,774,000 against net income attributable to company of $8,118,000 a year ago period. Non-GAAP diluted loss per common share was $0.08 against earnings per common share of $0.08 per share a year ago period. Total LBITDA before adjusting items was $604,000 against EBITDA of $26,604,000 a year ago period. Adjusted EBITDA was $23,070,000 against $39,788,000 a year ago period. Free cash in flow was $8,495,000 compared to free cash outflow of $39,810,000 a year ago. In the third quarter, adjusted EBITDA decreased approximately $17 million as compared to the same period last year, primarily due to lower freight forwarding revenues and $11 million in temporary costs. For the nine months, the company reported total revenues of $3,214,513,000 compared to $3,364,477,000 a year ago. Operating loss was $18,367,000 compared to operating income of $21,298,000 a year ago. Pretax loss was $70,608,000 against pretax income of $8,379,000 a year ago period. Net loss was $92,181,000 against $21,675,000 a year ago period. Net loss attributable to company was $94,121,000, or $0.97 per basic and diluted share, compared to net loss of $25,937,000, or $0.25 per basic and diluted share. Net cash used in operating activities was $105,597,000 against $68,862,000 a year ago period. Purchases of property, plant and equipment, excluding software was $20,989,000 against $36,545,000 a year ago period. Purchases of software and other intangible assets was $9,845,000 against $27,484,000 a year ago period. Non-GAAP operating income was $7,597,000 against $40,331,000 a year ago period. Non-GAAP pretax loss was $22,824,000 against non-GAAP pretax income of $27,412,000 a year ago period. Non-GAAP net loss attributable to company was $16,776,000 against net income attributable to company of $13,556,000 a year ago period. Non-GAAP diluted loss per common share was $0.97 against earnings per common share of $0.25 per share a year ago period. Total EBITDA before adjusting items was $23,465,000 against $72,340,000 a year ago period. Adjusted EBITDA was $71,249,000 against $91,373,000 a year ago period. Free cash out flow was $132,373,000 compared to $129,308,000 a year ago. The company reaffirmed earnings guidance for the fiscal 2016. It expects adjusted EBITDA target of $190 million to $210 million.

UTi Worldwide Inc. Announces Management Changes

UTi Worldwide Inc. announced that Eric W. Kirchner has resigned as Chief Executive Officer and as a member of the Board of Directors of the Company. The Board has appointed Edward G. Feitzinger, 47, as CEO of the company and elected him as a member of the board as a Class B director, effective immediately. Mr. Feitzinger has been with the company since 2010. He has served as Executive Vice President-Global Operations since 2012 and previously served as Executive Vice President-Global Contract Logistics and Distribution.

UTI Worldwide Reportedly In Advanced Talks On Sale To DSV

UTi Worldwide Inc. (NasdaqGS:UTIW) whose biggest shareholder is P2 Capital Partners, LLC, is in advanced talks to sell itself to DSV A/S (CPSE:DSV), people with knowledge of the matter said.

UTi Worldwide Inc. Launches Weekly Charter Service from Shanghai to US

UTi Worldwide Inc. has launched a weekly charter service from Shanghai, China to the US. The 747 charter flights can carry over 100 tons of airfreight, with virtually no size, weight or commodity restrictions. The first charter is scheduled to depart Shanghai on November 24, 2014 with a second charter scheduled for December 1, 2014. The flights will arrive in Chicago's O'Hare International Airport and UTi can arrange on-forwarding to other destinations.

 

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Price/Earnings NM Not Meaningful
Price/Sales 0.3x
Price/Book 1.9x
Price/Cash Flow NM Not Meaningful
TEV/Sales 0.1x
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