PFSweb, Inc. and Subsidiaries
Reconciliation of certain Non-GAAP Items to GAAP
(In Thousands, Except Per Share Data)

		Three Months Ended								Nine Months Ended
		September 30,								September 30,
		2009				2008				2009				2008
NET INCOME (LOSS)		$	(846	)		$	43			$	(3,623	)		$	519
Income tax expense (benefit)			106				216				268				806
Interest expense			288				426				967				1,123
Depreciation and amortization			1,540				1,676				5,191				4,819
EBITDA		$	1,088			$	2,361			$	2,803			$	7,267
Stock-based compensation			97				109				309				438
ADJUSTED EBITDA		$	1,185			$	2,470			$	3,112			$	7,705

		Three Months Ended								Nine Months Ended
		September 30,								September 30,
		2009				2008				2009				2008
NET INCOME (LOSS)		$	(846	)		$	43			$	(3,623	)		$	519
Stock-based compensation			97				109				309				438
Amortization of identifiable intangible assets			26				202				79				605
NON-GAAP NET INCOME (LOSS)		$	(723	)		$	354			$	(3,235	)		$	1,562
NET INCOME (LOSS) PER SHARE:
Basic		$	(0.09	)		$	0.00			$	(0.36	)		$	0.05
Diluted		$	(0.09	)		$	0.00			$	(0.36	)		$	0.05
NON-GAAP NET INCOME (LOSS) Per Share:
Basic		$	(0.07	)		$	0.04			$	(0.33	)		$	0.16
Diluted		$	(0.07	)		$	0.04			$	(0.33	)		$	0.16