Shares in logistics firm UTi Worldwide Inc. (Nasdaq: UTIW) tumbled Thursday after the logistics firm reported that itâ€™s earnings four the fiscal fourth quarter were short of expectations.
Shares fell $6.10, or $20.29 percent, to $23.96 in afternoon trading on the Nasdaq Stock Market.
The Rancho Dominguez, Calif.-based firm said Thursday morning that net income for the three months ending on January 31 was $23.6 million, or 24 cents per shared, compared with $9.7 million, or 10 cents per share, a year ago.
A poll of analysts from Thompson Financial had estimated earnings of 26 cents per share.
Revenue at the firm was up 31 percent to $951.3 million, compared to $728.2 million last year.