UPDATE: Wall Street Strategies Color on UTi Worldwide PT Decrease

Wall Street Strategies, which lowered its PT on shares of UTi Worldwide Inc. UTIW, is providing some color on the stock. “On June 2, UTi Worldwide reported its fiscal first quarter 2010 earnings results,” Wall Street Strategies writes. “The Company recorded revenue of $1.20 billion, representing an increase of 13.6% year over year and an increase of 4.7% sequentially. “The result exceeded the $1.14 billion consensus estimate and fell in line with our $1.20 billion forecast. On a year over year basis, Airfreight revenue was up 19.4%, Ocean up 3.6%, Customs up 18.9%, Logistics up 12.4%, and Distribution up 10.2%.” UTi Worldwide closed Wednesday at $19.37.