Exhibit 99.1
FOR IMMEDIATE RELEASE
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Contact: |
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Mark C. Layton
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Todd Fromer / Garth Russell |
Chief Executive Officer
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Investor Relations |
or Thomas J. Madden
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KCSA Strategic Communications |
Chief Financial Officer
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(212) 896-1215 / (212) 896-1250 |
(972) 881-2900
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tfromer@kcsa.com / grussell@kcsa.com |
PFSweb Reports Second Quarter 2010 Results
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Second Quarter Service Fee Revenue Increases 34% Year-over-year
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PLANO, Texas, August 11, 2010 PFSweb, Inc. (Nasdaq: PFSW), an international business
process outsourcing services provider of end-to-end web commerce solutions and an online discount
retailer, today announced its financial results for the second quarter and six months ended June
30, 2010.
Summary of consolidated results for the quarter ended June 30, 2010:
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Total revenue increased to $82.5 million for the second quarter of 2010 compared to
$82.3 million for second quarter of 2009; |
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Total gross margin improved to 10.9% for the second quarter of 2010 compared to 10.0%
for the same period last year; |
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Adjusted EBITDA (as defined) was $1.0 million versus a loss of $0.7 million for the
second quarter of 2009; |
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Net loss was $1.5 million, or $0.14 per basic and diluted share, compared to net loss of
$2.5 million or $0.25 per basic and diluted
share, for the second quarter of 2009; |
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Non-GAAP net loss (as defined) was $0.9 million, or $0.08 per basic and diluted share,
compared to non-GAAP net loss of $2.4 million or $0.24 per basic and diluted share, for the
second quarter of 2009; |
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Total cash, cash equivalents and restricted cash increased to $20.8 million as of June
30, 2010 compared to $16.9 million as of December 31, 2009. |
Summary of consolidated results for the six months ended June 30, 2010:
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Total reported revenue was $170.7 million compared to $171.3 million for the six months
ended June 30, 2009; |
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Total gross margin was 10.9% compared to 11.3% for the same period last year; |
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Adjusted EBITDA was $1.9 million for both the six months ended June 30, 2010 and 2009; |
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Net loss was $2.7 million, or $0.26 per basic and diluted share, compared to net loss of
$2.8 million, or $0.28 per basic and diluted share, for the six month period ended June 30,
2009; |