UTi Worldwide Inc. reported better-than-expected first quarter results thanks to higher air- and ocean-freight volumes as the economy slowly recovers.

The Long Beach logistics company on Thursday reported net income of $10.1 million, compared with $9.85 million in the same quarter the previous year. Earnings per share for both quarters was 10 cents, due to a larger number of shares in this year’s quarter.

Revenue rose 37 percent to $1.06 billion.

Analysts survey by Thomson Reuters on averaged expected per-share earnings of 9 cents on revenue of $922 million.

Chief Executive Eric Kirchner said both air and ocean volumes during the quarter were very close to those of two years ago, before the market downturn. But he said the company would have to raise pricing to reflect higher transportation rates, which continued to be volatile on many trade lanes.

“We are intent on achieving our targeted margins, which may adversely impact volume growth in future months,” Kirchner warned.

Shares were up 23 cents, or 1.6 percent, to $14.46 in midday trading on the Nasdaq.