UTi Worldwide today reported profit attributable to the supply chain management company in the third quarter of its fiscal 2013, which ended Oct. 31, was $10.5 million, plummeting 63.2 percent from $28.5 million during the same period last year.
Profit attributable to UTi Worldwide in the nine months ending Oct. 31 was $42.3 million, dropping from last year’s $60.2 million.
Revenue in the third quarter was $1.1 billion, falling 10.7 percent from $1.3 million last year. Revenue from February to October was $3.4 billion, down from 2011’s $3.8 billion.
“Macroeconomic and freight conditions remained weak throughout our fiscal 2013 third quarter, and we see no real catalysts to drive increases in the foreseeable future,” CEO Eric W. Kirchner said in a written statement.