UTi Reports Loss

UTi Worldwide Inc. reported a fiscal first quarter net loss of $12.4 million (-12 cents a share) compared with net income of $12.9 million from the same period last year.

Revenue for the Long Beach logistics company fell 7.5 percent to $1.08 billion.

Eric W. Kirchner, chief executive, said the company was not satisfied with the results. He attributed part of the decrease in business to the loss of some high-volume accounts. But he expects performance to improve.

“We saw steady improvement each month during the quarter,” he said in a statement Thursday when earnings were announced. “Our freight forwarding operating system deployment continues to advance.”