Long Beach logistics company UTi Worldwide Inc. said Thursday its fiscal first-quarter earnings fell 27 percent as freight and logistic volumes continued to be weak in the slow economy. The results were worse than Wall Street expected.

UTi, which provides shipping and supply chain services, reported net income of $9.8 million (10 cents per share) for the quarter ended April 30, compared with $13.5 million (13 cents) a year ago. Revenue fell 35 percent to $768 million.

The company recorded $1.2 million in restructuring costs and $5.2 million in severance and other charges, which were offset by a $6.3 million gain on the sale of property in South Africa.

Analysts surveyed by Thomson Reuters on average expected adjusted net income of 14 cents per share on revenue of nearly $938 million.

?e continued to respond to the volume declines by reducing our operating costs, although these reductions did not fully offset the decrease in net revenue,?Chief Executive Eric W. Kirchner said in a statement. ?e are intensifying our sales efforts to improve revenue growth, particularly in freight forwarding, without sacrificing profitability.?p>Shares of UTi Worldwide fell were down 65 cents, or 5 percent, to $12.80 in midday trading on the Nasdaq.