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UTi Worldwide reported a first-quarter loss of $12.4 million, or 12 cents per share, from a profit of $12.9 million, or 12 cents, a year earlier.

Revenue fell 7.5% to $1.08 billion for the quarter ended April 30, the airfreight forwarder said Thursday.

The company blamed a weak air cargo market, with airfreight revenue down 17.6% to $324 million.

UTi Worldwide is ranked No. 22 on the Transport Topics Logistics Top 50 listing of North American logistics firms.