98
PFSWEB, INC.
PRO FORMA COMBINED STATEMENTS OF OPERATIONS (UNAUDITED)
FOR THE SIX MONTHS ENDED SEPTEMBER 30, 1999
(IN THOUSANDS, EXCEPT PER SHARE DATA)
PRO FORMA
HISTORICAL ADJUSTMENTS PRO FORMA
---------- ----------- ---------
REVENUES:
Product revenue...................................... $55,778 $ -- $55,778
Service fee revenue.................................. 7,004 -- 7,004
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Total revenues.................................... 62,782 -- 62,782
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COSTS OF REVENUES:
Cost of product revenue.............................. 52,639 -- 52,639
Cost of service fee revenue.......................... 4,898 -- 4,898
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Total costs of revenues........................... 57,537 -- 57,537
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Gross profit........................................... 5,245 -- 5,245
SELLING, GENERAL AND ADMINISTRATIVE EXPENSES........... 5,871 -- 5,871
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Loss from operations................................... (626) -- (626)
INTEREST EXPENSE (INCOME), net......................... 650 (1,066)(2) (416)
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Loss before income taxes............................... (1,276) 1,066 (210)
PROVISION (BENEFIT) FOR INCOME TAXES(4)................ (503) 415 (88)
------- ------- -------
NET LOSS............................................... $ (773) $ 651 $ (122)
======= ======= =======
NET LOSS PER COMMON SHARE(5):
Basic and diluted.................................... $ (0.05) $ 0.04 $ (0.01)
======= ======= =======
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING:
Basic and diluted.................................... 14,305 17,405 17,405
The accompanying notes are an integral part of these unaudited pro forma
combined statements.
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