from the new revenue due to the lengthy contracting and implementation
periods. Near term, we currently believe that our operating results for
the December 2003 quarter will be generally similar to that of the
September 2003 quarter. In addition, the company may record certain
previously announced, non-payroll related restructuring charges which
are expected to be less than $0.4 million and would result in reduced
operating costs in the future."
Consistent with the prior quarter, the GAAP results presented in
Exhibit A reflect the consolidation of the Supplies Distributors
business since the October 1, 2002 acquisition. For clarity and
comparison purposes, Exhibit B provides consolidating financial
statements showing the historical PFSweb service fee business unit, the
Supplies Distributors business unit and the resulting elimination
adjustments related to services that PFSweb provides for Supplies
Distributors.
CONFERENCE CALL INFO:
PFSweb will hold a conference call Tuesday, November 11, 2003 at 10:00
a.m. Central Time. To ensure attendance on the call, plan to dial in by
9:50 a.m. to 973-582-2741. Ask to be placed on the PFSweb Earnings
Release Conference Call. Two hours after the conference, a recorded
playback can be heard for 14 days at 973-341-3080, using the
confirmation number 4288332. Check www.pfsweb.com and our November 3,
2003 investor conference call press release for more details on the
call.
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