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PFSweb, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
(IN THOUSANDS, EXCEPT PER SHARE DATA)
FISCAL YEARS ENDED MARCH 31,
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1998 1999 2000
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REVENUES (Note 6):
Product revenue........................................... $45,804 $ 93,702 $55,778
Service fee revenue....................................... 3,539 7,547 30,829
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Total revenues.................................... 49,343 101,249 86,607
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COSTS OF REVENUES:
Cost of product revenue................................... 43,392 88,335 52,639
Cost of service fee revenue............................... 2,208 5,323 23,475
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Total costs of revenues........................... 45,600 93,658 76,114
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Gross profit...................................... 3,743 7,591 10,493
SELLING, GENERAL AND ADMINISTRATIVE EXPENSES................ 3,705 6,711 17,764
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Income (loss) from operations.......................... 38 880 (7,271)
INTEREST EXPENSE, net....................................... 143 374 459
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Income (loss) before income taxes...................... (105) 506 (7,730)
PROVISION (BENEFIT) FOR INCOME TAXES........................ (30) 214 (1,791)
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NET INCOME (LOSS)........................................... $ (75) $ 292 $(5,939)
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NET INCOME (LOSS) PER SHARE:
Basic and diluted......................................... $ (0.01) $ 0.02 $ (0.38)
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WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING:
Basic and diluted......................................... 14,305 14,305 15,479
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The accompanying notes are an integral part of these consolidated statements.
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