Uti Shares Tumble on Earnings

Shares of Long Beach freight-forwarding and logistics firm Uti Worldwide Inc. sank Tuesday after the company released fourth-quarter and full-year earnings that showed flagging revenue and a huge net loss. Revenue for the firm’s fiscal year, which ended Jan. 31, fell to $4.2 billion, down 5.8 percent from the previous year. The company’s net loss, meanwhile, swelled to $203 million, more than double the prior year’s loss of $83 million.

The company announced earnings after markets closed Tuesday. Shares fell 13 percent to $10.71 in after-hours trading.

Ducommon Postpones Earnings Announcement

Carson manufacturer Ducommun Inc. has announced it will, again, postpone its 2014 fourth-quarter and year-end earnings announcement, which had been scheduled for March 16 and was rescheduled for Tuesday. In a statement, Ducommun executives blame the delay on errors discovered in the reported financial results for previous periods. The company said when the mistakes are corrected, it will result in an increase in Ducommun’s net income.