PFSweb, Inc. and Subsidiaries
Consolidated Balance Sheets
(In Thousands, Except Share Data)
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September 30, |
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December 31, |
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2005 |
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2004 |
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(Unaudited) |
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ASSETS |
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CURRENT ASSETS: |
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Cash and cash equivalents |
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$ |
14,681 |
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$ |
13,592 |
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Restricted cash |
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1,409 |
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2,746 |
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Accounts receivable, net of allowance for doubtful accounts of $444 and
$504 at September 30, 2005 and December 31, 2004, respectively |
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45,059 |
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41,565 |
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Inventories, net |
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38,583 |
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44,947 |
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Other receivables |
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9,745 |
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8,061 |
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Prepaid expenses and other current assets |
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3,682 |
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3,349 |
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Total current assets |
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113,159 |
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114,260 |
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PROPERTY AND EQUIPMENT, net |
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12,995 |
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14,264 |
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RESTRICTED CASH |
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150 |
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675 |
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OTHER ASSETS |
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1,198 |
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1,128 |
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Total assets |
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$ |
127,502 |
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$ |
130,327 |
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LIABILITIES AND SHAREHOLDERS’ EQUITY |
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CURRENT LIABILITIES: |
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Current portion of long-term debt and capital lease obligations |
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$ |
20,849 |
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$ |
19,098 |
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Trade accounts payable |
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58,306 |
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61,583 |
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Accrued expenses |
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10,224 |
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10,971 |
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Total current liabilities |
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89,379 |
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91,652 |
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LONG-TERM DEBT AND CAPITAL LEASE OBLIGATIONS, less current
portion |
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6,551 |
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7,232 |
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OTHER LIABILITIES |
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1,976 |
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1,517 |
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COMMITMENTS AND CONTINGENCIES |
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SHAREHOLDERS’ EQUITY: |
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Preferred stock, $1.00 par value; 1,000,000 shares authorized; none issued
and outstanding |
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— |
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— |
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Common stock, $0.001 par value; 40,000,000 shares authorized;
22,582,338 and 21,665,585 shares issued at September 30,
2005 and December 31, 2004, respectively; and 22,496,038 and
21,579,285 outstanding at September 30, 2005 and December
31, 2004, respectively |
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23 |
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22 |
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Additional paid-in capital |
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58,697 |
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56,645 |
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Accumulated deficit |
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(30,290 |
) |
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(29,077 |
) |
Accumulated other comprehensive income |
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1,251 |
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2,421 |
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Treasury stock at cost, 86,300 shares |
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(85 |
) |
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(85 |
) |
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Total shareholders’ equity |
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29,596 |
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29,926 |
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Total liabilities and shareholders’ equity |
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$ |
127,502 |
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$ |
130,327 |
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