SEC Filings Section 16 Filings Only
 
PFSWEB INC filed this 8-K on 11/18/2008.
« Prev Page Outline Printer Friendly Entire FilingNext Page »
 

(IMAGE)
<Q — Quinton Maynard>: Thank you very much.
Operator: Your next question is from the line of Alex Silverman with Special Situations.
<Q — Alex Silverman>: Am I right that this US government client actually gave you more business in the past year or so?
<A — Mark Layton>: Yes.
<Q — Alex Silverman>: If that’s the case, in theory, happy with the service you’re providing, therefore you lost this on someone coming in and giving a low ball price?
<A — Mark Layton>: Yes, and I can’t comment on specific client activity, Alex, for obvious reasons. But hypothetically if that were a scenario then you could certainly conclude that.
<Q — Alex Silverman>: Can we assume the loss was not over quality of service?
<A — Mark Layton>: Yes.
<Q — Alex Silverman>: Okay. And, yes, I went back and I looked about a year ago, November of last year, and you had roughly $30 million bidding — you had 30 million in proposals outstanding. You took, whatever, 15 million out last year, 10 million out this year, it’s flat, and this year’s obviously not over. If this US government client was 25 to 30 million it looks like it should another year to 18 months to replace them.
<A — Mark Layton>: That’s a reasonable time period, that’s correct.
<Q — Alex Silverman>: And that’s not crazy?
<A — Mark Layton>: Correct.
<Q — Alex Silverman>: And — Okay. Let’s see, I had one other. I just want to confirm what you just said. The month of October was similar on the B2C as the September quarter?
<A — Mark Layton>: That’s correct. I mean, basically the trends in October were very similar to what you saw in the Q3 results that were released.
<Q — Alex Silverman>: And B2C in the September quarter was plus 9%.
<A — Mark Layton>: That’s correct.
<Q — Alex Silverman>: That’s very strong.
<A — Mark Layton>: Yes.
<Q — Alex Silverman>: Great. Thank you very much.
<A — Mark Layton>: Thanks, Alex.
Operator: Your next question comes from the line of George Walsh with Gilford Securities.
<Q — George Walsh>: On the balance sheet you have a — from sequentially quarter there was an increase in the current portion of long term debt and capital lease obligations of about $3 million. Can you just comment on that? Is that seasonal? Or what are the issues there?

16