UPDATE: UTi Worldwide Posts Downbeat Q2 Results

UTi Worldwide

posted a net loss in the second quarter. UTi Worldwide posted a quarterly net loss of $4.4 million, or $0.04 per share, versus a year-ago profit of $18.9 million, or $0.18 per share. Excluding one-time items, it earned $5.5 million, or $0.05 per share. Its revenue declined 4.5% to $1.13 billion, from $1.19 billion. However, analysts were expecting a profit of $0.14 per share on revenue of $$1.15 billion. UTi Worldwide shares closed at $17.05 yesterday.