SEC Filings Section 16 Filings Only
 
PFSWEB INC filed this 8-K on 03/31/2006.
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ALEX SILVERMAN: OK. Can you give us — I’m a little bit new to the story. Can you give us a sense of what it was in the third quarter of last year?
THOMAS MADDEN: As of our last conference call that number was approximately $20 million. So on an overall basis it has increased slightly.
MARK LAYTON: We’ve probably seen a range over the last couple of years of high of 45 or 50 million and a low of 15 to 20. So we’re kind of in the lower end of the range on an overall basis.
ALEX SILVERMAN: Who is — who’s looking for your service today?
MARK LAYTON: On the services side of the business, you know, our target, as I mentioned, is really across the Fortune 500/Global 1,000, but our focus and efforts on the marketing side are being narrowed into consumer goods, technology manufacturers, and any of the companies that are focused on growing, you know, direct to consumer Web commerce sites. So, you know, quite often when you see our customers today, these are people who either have an existing direct to consumer business and are looking for ways to cut costs or to improve service capabilities. And in many cases it’s companies who are looking to launch new product lines at — very quickly and at a cost level that’s there. So when you look across our customer base you’re going to see a lot of major names with specific product categories that they’ve launched on our backbone. HP’s division that we work with, for example, was a networking products area. That was a start-up division within HP. It’s grown very robustly for them. United States (Met), one of our customers in that area, is a — was an existing direct to consumer business, but they were looking for improvements in their features and functionality and a reduction in their cost of operations. Raytheon Aircraft Parts (ph) looking for improved customer service capabilities to reduce cost of operations. So those are pretty common themes about who they’re looking for and the target is typically a recognizable Fortune 500 company division that we service.
ALEX SILVERMAN: OK. Did you mention in your prepared remarks that you had a large customer that reduced business in the fourth quarter or pushed out business to 2000 — to the first quarter?
THOMAS MADDEN: Yes. Our largest service fee client, we had reported previously during the year that they generally had had a business that had it highest seasonal volume in the June quarter last — and relatively low periods in the January and December quarters. Last year they modified their product release schedule and moved some of the activity that traditionally had been in the second half of the year up to the first half of the year creating kind of a shift in movement in kind of an overall basis — on a quarterly basis as you (ph) prepared year over year.
ALEX SILVERMAN: OK. So fourth quarter ‘04 was unusually high based on the old model — no —
THOMAS MADDEN: Yes.

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