Final Transcript
May. 16. 2007 / 11:00AM ET, PFSW — Q1 2007 PFSweb, Inc. Earnings Conference Call
Mark Layton - PFSweb, Inc. — CEO
The one thing I will add on that top-line basis in there in terms of the working capital side
of things, obviously as new customers come along and we may have new capital requirements that go
along with that. So as Tom mentioned, we will look to finance those things but at times the cash
required in that is — can be significant based on the size of the contracts.
So equity financing is always something we have to keep an eye open towards but we don’t have any
plans for that at this point. The other thing we’ve mentioned in the past is that with the say
we’ve grown over the years we have a relatively complex corporate structure for the size company
that we are. While on a consolidated basis we have the cash consolidated out there, sometimes it
can be a little bit difficult to move all the capital from one end to another in the timeframe that
we need it because we’ve got lenders involved in each of those little corporate entities that we
have set up out there.
So at times we need capital at the top level in order to be able to have the flexibility that we
need to be immediately responsive to client opportunities or deals that come along. So I just give
that as a backdrop to say we are strong and we’ve got good capital capability but as new things
come along out there, we have to evaluate lending and equity capabilities and be able to be
responsive quickly to the opportunity or we may miss it.
Operator
Thank you. Please go ahead.
Mark Layton - PFSweb, Inc. — CEO
I was just going to say any other questions?
Operator
John Fitzgerald, Bishop, Rosen.
John Fitzgerald - Bishop, Rosen — Analyst
Just a couple of other things here. What would you say would be your main demographic for your
eCOST sites? What kind of people are coming on this?
Mark Layton - PFSweb, Inc. — CEO
They are males, 25 to 55, and income level over $100,000, is kind of the sweet spot that we’ve
seen from a demographic standpoint.
John Fitzgerald - Bishop, Rosen — Analyst
And that is the main push there. Obviously everybody obsessing over eCOST. Can you elaborate a
little bit further on Web on the PFS side of the business here? Europe, etc., that seems to be
perking along pretty good here. Can you elaborate any further where you see things there presently
going forward here? I know you’ve already made some statements on it but maybe you can elaborate a
little bit further. Contracts, things like that.
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