For the second quarter, our net loss totaled $1.2 million or $0.10 per basic and diluted share
compared to a net loss of approximately $1.5 million or $0.14 per basic and diluted share for the
same period last year. Net loss for the second quarter of 2011 included an income of about $14,000
from discontinued operations related to eCOST.com, compared to a loss of $0.4 million from
discontinued operations for the same period last year.
We continue to maintain a solid financial position with total cash and restricted cash as of June
2011 of approximately $20.2 million. During the quarter, we also completed a renewal of a credit
facility for our Business and Retail Connect business segment to support its financing needs.
Our capital expenditure so far in 2011 have reached approximately $4.7 million. This includes new
client start-up integration activity that is generally funded by clients. In addition we continue
to make investments in technology and infrastructure to support our growth and enhance
Now Id like to turn the call back to Mark for some closing comments.
Mark C. Layton, Chairman & Chief Executive Officer
Great. Thanks, Tom. I hope that our prepared remarks today, which you heard from myself and Mike
and Tom, give you a little insight to the feel that I and our entire team here at PFSweb are
currently experiencing. Seeing the finished product of great client names like Procter & Gamble,
Starbucks, kate spade new york, Carters and so many others and watching many of these clients
businesses experienced strong growth as a result of the new technology platform, marketing programs
and site features that have been implemented, is incredibly rewarding not only for our clients, but
for our PFSweb team as well.
I can feel within our business and our staff an awesome buzz of excitement and expectation that
feels a lot to me like the dot.com boom years in the late 90s, but with what I believe is a whole
different universe of tangible and financially sustainable growth opportunities. It is exciting
times, lots going on and we look forward to continue to update you on our progress in the coming
With that, that concludes our prepared comments for today. Operator, well be available for a few